Godrej plans Rs 900cr capex for retail biz

Godrej Industries will invest Rs 500-700 crore over the next five years to expand Aadhar - a chain of supermarkets in rural India - that sells fertilisers, pesticides, animal feed and FMCG products.

The company is planning to open 1,000 outlets across the country over seven years.

"We have big plans for Aadhar, and will put in approximately Rs 500-700 crore over five years to expand," Adi B Godrej, chairman of Godrej group, said today.

"We currently have 18 Aadhar outlets in rural areas with another one opening today near Pune," he added.

Aadhar is being run under Godrej Agrovet, a subsidiary of Godrej Industries.

Godrej Industries will also spend Rs 200 crore to open 75-100 urban retail outlets, Nature's Basket, in all the major urban areas, Godrej added.