Godrej & Boyce to invest Rs 90 cr

The retailing division of Godrej & Boyce will be investing Rs 90 crore in the next three years to ramp up its presence across the country. It is also looking at a turnover of Rs 450 crore by 2010, from Rs 100 crore this March.

"We plan to open 200 Godrej Lifespace stores by 2010 and would expand our reach to tier 2 and tier 3 cities, cashing in on the emerging retail boom across the country," said Shyam Motwani, vice-president and business head of Godrej Lifespace.

At present the company has 48 lifespace stores across 25 cities covering more than 1,40,000 sq ft, and plans to have a total of 50 stores by end of this month.

"As the retail boom right now is most promising in Kolkata, we are looking at increasing our retail presence even in Durgapur and Siliguri by 2010. We have chalked out an investment of Rs 2 crore in West Bengal alone. On an average, we spend close to Rs 70 lakhs on each store," Motwani added.