Future group plans to invest Rs 4000 crore

Continuing with its expansion spree, Kishore Biyani's Future Group plans to invest about Rs 4,000 crore in the next one year to expand its different retail chains as a part of a strategy to touch a topline of Rs 30,000 crore by 2010-11.

"We are increasing the outlets of Big Bazaar from 50 to 100 by next year. We are also adding eight more stores of HomeTown," Pantaloon Retail (India) Managing Director Kishore Biyani said. While Big Bazaar is the flagship value retail chain of the group, HomeTown is a new format of store which caters to home and housing requirements offering right from plumbing and sanitaryware solutions to interior design and lightings.

Besides, the company would also come up with 12 malls under Central and Brand Factory formats at places such as Gurgaon, Kolkata and Chennai.

Pantaloon Retail, which has 340 stores in 40 cities under 30 formats, plans to increase it more than 10-fold by 2010-11 to 3,500 stores in 90 cities.

The company posted a turnover of over Rs 2,018 crore in 2005-06 and is expecting a turnover of Rs 4,000 crore in the current fiscal. It has set a turnover target of Rs 30,000 crore by 2010-11.