Trent lines up Rs 250 cr capex for 3 years

Tata Group firm Trent, which runs Westside and Landmark retail stores, has outlined a capital expenditure of Rs 250 crore for the next three years. This year the company would spend about Rs 65 crore as capital expenditure, Trent Chairman F K Kavarana said at the annual general meeting here.

The capital expenditure would be met through internal accruals and rights issue. By the end of this financial year, Trent stores would be spread to 11.5 lakh sq ft area from a mere 4 lakh sq ft now.

Ten more Westside stores would be added this year taking the total number to 37 through the country, Kavarana said.

Of the existing 27 Westside stores, three are owned by Trent and the rest are leased. Similarly, Landmark, a book retail store, would be expanded to 14 from nine now.

Last year, Landmark reported a turnover of Rs 136 crore, up 30 per cent over last year. Landmark is jointly owned by Trent and Chennai-based Hemu Ramaiah, who started the retail store. Trent has the majority shareholding. Trent's hypermarket, Star India Bazaar, in Ahmedabad has achieved breakeven, he said.