House Full plans 50 new outlets at Rs 350cr

House Full International (HFIL), a chain of retail outlets offering complete range of home improvement products, is planning a major expansion of its retail chain across the country by March 2009.

The company, which recently opened its third outlet at Nashik, is eyeing 50 new outlets in major cities across the country by March 2009.

The Nashik outlet is spread over 40,000 sqft at a cost of Rs 7 crore. Its two other outlets are in Pune and Surat.

The company will be opening its fourth outlet at Hyderabad shortly. The retail chain has invested Rs 110 crore so far.

Arif Sheikh, president & chief executive officer, House Full International, said, "As part of our expansion, we are opening 50 new outlets spread over 2.5 million sqft in major cities across the country in the next three years. We are investing around Rs 350 crore for the expansion work. Each outlet will be spread over 30,000-40,000 sqft or more. In the current fiscal, we are opening nine outlets in major cities including Chandigarh, Kolkata, Bangalore and Aurangabad. Our investment in these nine outlets will be around Rs 63 crore," said Sheikh.