Pyramid Retail plans 12 more malls

Pyramid Retail (PRL), the Piramal group-promoted retail chain, is planning to open 12 more malls in the lifestyle category and 60 more stores in the food and grocery segment in the northern and western region by 2008 with an investment of Rs 135 crore.

"Pyramid Retail, the lifestyle chain, will have 12 more malls in the northern and western region in the next one-and-a-half years with an investment of about Rs 100 crore. The food and grocery chain - Truemart - will add 60 more outlets during the same period," Krish Iyer, managing director and CEO of PRL, said today.

"The group will invest about Rs 35 crore and open 60 more outlets in Mumbai and Pune alone," he added.