Bharti's final retail plans by April: Mittal

Bharti Enterprises, which had announced a $2.5 billion investment for its retail venture last year, is expected to announce its final plans, including the opening of the first store, within the next two months.

"You can hear from us on the final plans before April-end," Bharti Enterprises chairman Sunil Mittal told PTI on the sidelines of the GSM World Congress here.

Asked when and where the first store of Bharti Retail would be opened, he declined a specific answer but said: "It will be in north India."

Mittal denied that there was any delay in rolling out plans of Bharti Retail saying: "This takes time."

The announcement of the final plans is also expected to end speculation over branding of the front-end store of Bharti Retail on whether it would carry the name of Wal-Mart.

Bharti Enterprises had commissioned a consumer response study to decide on the same but it has finalised the report till now.

The company had inked a 50:50 joint venture agreement with the world's biggest retailer Wal-Mart for cash-and-carry business last year. The JV is expected to open its first wholesale facility by the end of this year with 10-15 such stores planned to be opened in the next seven years.

Reporting by Sunil Batra