Retail Space

Demand for retail space in malls, high streets up 5% in Jan-Sept: C&W

Leasing of retail space in shopping malls and prominent high streets rose nearly 5 per cent during January-September this year across eight major cities, according to Cushman & Wakefield. Real estate consultant Cushman & Wakefield data showed that the absorption or leasing of retail space in Grade-A malls and main high streets across the top eight cities stood at 5.53 million square feet during January-September 2024 against 5.29 million square feet in the corresponding period of the preceding year. These eight cities are -- Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad, Pune and Ahmedabad. Saurabh Shatdal, Managing Director (Capital Markets) and Head-Retail-India, Cushman & Wakefield, said, "India's retail real estate growth remains intact as can be observed from the strong leasing numbers, both in malls and main streets". Increasing discretionary spending and evolving consumer preferences are driving demand for premium retail spaces, he added. Shatdal, ...

18 mn sq ft mall retail space to be added to top 8 cities in 2024-27: C&W

Fresh supply of retail space in shopping malls during 2024-27 across eight major cities is expected to be 18 million sq ft, which is one-third of the projected requirement to meet the demand, according to Cushman & Wakefield (C&W). Real estate consultant C&W in its latest report pointed out that "India's Retail Space Per Capita (RSPC) lags behind other South Asian countries, including Indonesia, Philippines, Thailand, and Vietnam." This underlines vast potential for expansion of retail spaces, it added. At present, the total retail space in top eight cities is around 60 million sq ft and 18 million sq ft is expected to be added during 2024-27. In the first half of 2024, no new mall became operational. "To reach a 1.0 RSPC by 2027, comparable to Indonesia -- the closest relevant comparison owing to relatively similar per capita incomes -- there is a need to construct about 55 million sq ft of mall space over the next four years," the consultant said. At present, the ...

Godrej Interio to open 104 new stores, add over 200k sq ft of retail space

Home and office furniture brand Godrej Interio on Monday said it plans to open 104 new stores and add over 2 lakh sq ft of retail space in the ongoing fiscal as part of its pan-India expansion. A part of Godrej & Boyce of Godrej Enterprises Group, Godrej Interio currently has 900 stores in more than 600 cities across India. Godrej Interio projects a 20 per cent growth this year and plans to add over 2 lakh sq ft of retail space in FY25. The company is poised to surpass 1,000 stores in August, it said in a statement. The brand will also add 104 new stores in fiscal year 2025, it added. "Our nationwide growth plan targets 34, 24, 19 and 27 new stores for the northern, western, southern, and eastern regions, respectively," Godrej Interio Senior Vice President and Head of Consumer Business (B2C) Dev Narayan Sarkar said. Along with the physical expansion, the brand continues to enhance its digital presence and the company's e-commerce platform serves more than 17,000 pin codes, the ...

Arvind Fashions Q4 results: Profit jumps two-fold to 24 cr, revenue up 4%

Demand for premium products aimed at high-income consumers remains a key driver of sales growth

V-Mart Q3 results: Profit rises 41.3% at Rs 28.23 cr, revenue up 14.4%

V-Mart Retail Ltd on Monday reported a 41.36 per cent increase in net profit to Rs 28.23 crore for the third quarter ended December 2023, helped by the festive season. It had reported a net profit of Rs 19.97 crore in the October-December period a year ago, according to a regulatory filing by the value retailer. Its revenue from operations was up 14.43 per cent to Rs 889.05 crore during the quarter under review. It was at Rs 776.88 crore in the corresponding quarter. "Good festive demand in the quarter helped increase footfalls by 23 per cent reflecting an improved consumer sentiment. Winter season was delayed and remained muted during the quarter. Working capital improved with a decrease in inventory by 12 per cent from last quarter," said an earning statement from the company. V Mart's total expenses were up 15.18 per cent to Rs 865.20 crore, up 15.18 per cent in the December quarter of FY24. Its revenue from retail trade was at Rs 872.04 and Rs 17.01 crore from digital market p

Demand for spaces in malls pushed retail leasing to all-time high in 2023

Among the sectors, retail leasing was led by fashion and apparel which accounted for around 32 per cent of the total

Migsun Group sells retail space in national capital to Dmart for Rs 108 cr

Realty firm Migsun Group on Friday said it has sold 47,000 square feet retail space in its commercial project in the national capital to Dmart for Rs 108 crore. Dmart has bought the space at the project in sector 22, Rohini in Delhi, according to a statement. A leading hypermarket retail chain, Dmart has acquired the project's lower ground and first floors to set up a hypermarket store. The retail space has been acquired for Rs 108 crore, the statement said. Last year, Migsun Group had acquired 9-acre land parcels for Rs 265 crore to develop a high-street retail project. "We will develop a high-street retail project on this land, comprising 1 million square feet area," Migsun Group MD Yash Miglani had said. Commenting on the deal, Miglani on Friday said the project provides an exceptional investment opportunity for businesses seeking to establish themselves at a prime location. "It is close to Rohini West metro station and has a huge catchment area of families with high spending

New supply of retail space up 72% last year to nearly 6 mn sq ft: Cushman

The new supply of retail space in shopping malls increased 72 per cent last year to 59.48 lakh square feet across eight major cities to meet rising demand from retailers, according to Cushman & Wakefield. In 2023, as many as 11 shopping malls became operational, covering 59,48,395 square feet of space across the top eight cities. In the previous year, nine malls came into eight markets, totalling 34,49,222 square feet area. Hyderabad witnessed the completion of three shopping malls, while Pune and Chennai had two each. One shopping mall each came up in Mumbai Metropolitan Region, Delhi-NCR, Bengaluru and Ahmedabad. No fresh supply was seen in Kolkata. With 59 lakh square feet of mall commencing operations across the top 8 cities in India, Cushman said the year 2023 saw the biggest supply addition in the post-COVID world. In 2019, the same cities witnessed a new supply addition of around 50 lakh square feet of Grade-A and B+ malls. Saurabh Shatdal, Managing Director, Capital ...

Apple to fight watch ban in court after White House declines to act

Apple had already stopped selling its Series 9 and Ultra 2 watches in its online store and US retail outlets

Fast-fashion retail giant Shein may go public with US IPO filing

The Chinese retail giant, now headquartered in Singapore, is estimated to be valued over $60 billion

Retail leasing in India jumped 24% between January and July: CBRE report

CBRE said that as more international brands aim to enter India, they are witnessing growing traction in the luxury segment

Retail space demand to rise further, rents to surge 15% in 6 mnths: Experts

Retailers Association of India says retail market size is expected to touch $2 trn by 2032; also, retail sales surpassed pre-pandemic and grew by 19% in 2022

Leasing of retail space across 8 cities rose 21% last year, says CBRE

Leasing of retail real estate space during last year rose 21% to 4.7 million square feet across eight major cities mainly on rising demand from Food and Beverage (F&B), fashion and apparel retailers

M3M India buys 1.3-acre land in Gurugram for Rs 200 cr commercial project

Realty firm M3M India has acquired 1.3-acre land parcels in Gurugram for about Rs 200 crore to build a luxury commercial project, primarily retail space. The land, located near IFFCO Chowk, has been acquired through an auction conducted by Haryana Shahari Vikas Pradhikaran (HSVP). "The development cost would be Rs 250 crores. The estimated top line for this project is Rs 1,000 crore," the company said. The project will be a mix of retail space, multiplex and offices. The cost of the land is at par with the cost in Lutyens Delhi, the company said. Pankaj Bansal, promoter of M3M India, said, "Seeing the uptick in the retail segment, we look forward to develop a comprehensive luxury-boutique retail". This luxury retail project will house most premium global brands, he added. Recently, M3M Group bought 13-acre land in Noida for Rs 827.41 crore at an auction. The total cost of acquisition would reach Rs 1,200 crore, including rent and registration fees. M3M India has a land bank of

M3M expects Rs 5,000 cr in sales through 13-acre land acquired in Noida

Real estate firm will invest Rs 2,400 cr in mix-use project of housing, retail and service apartments

Voda Idea expands retail presence with 300 new 'Vi shops' in rural markets

Vodafone Idea (VIL) on Sunday said it has rolled out 300 new-format 'Vi Shops' across multiple towns in Maharashtra, Tamil Nadu, Kerala, West Bengal and UP West, in line with its expansion blueprint to digitally connect the rural population. VIL plans to further strengthen its local presence and enhance engagement with mobile users by expanding its retail footprint to cover more rural markets in the coming months. "To ramp up its retail footprint at the sub district level, Vi has rolled out 300 new format 'Vi Shops' across multiple towns in Maharashtra, Tamil Nadu, Kerala, West Bengal and UP West," the company said in a statement. Customers in Indapur, Maharashtra; Hapur in Western UP; Basirhat in West Bengal; Usilampatti in Tamil Nadu; Payyoli in Kerala; and hundreds of other such towns will have access to quick, face-to-face service along with a range of differentiated products and offerings, it added. The Vi Shops concept for Tier 3 towns is intended to deliver a uniform experie

Retail leasing rises 114% Y-o-Y, crossed 3.4 mn sq ft in 9 months: Report

Hyderabad, Delhi- NCR, Mumbai, and Bangalore account for 79% of overall retail space absorption

Retail IPO applications down by over 50% in H1FY23, shows data

Firms raised a total of Rs 36,535 cr in the period, 30.2% less than Rs 52,325 cr last yr

India to have 31 new malls in two years on strong retail demand: Report

As many as 31 new shopping malls are expected to be operational by the end of next year on the back of strong revival in the retail sector, according to Anarock. This year, a total of 15 new malls will enter the market spread across 12 cities and in 2023, another 16 new malls will come up. In terms of area, property consultant Anarock said fresh retail space in shopping malls is expected to rise 76 per cent this year on an annual basis. "Retail real estate is staging a strong comeback, with nearly 10.15 million square feet of new mall supply set to hit Tier 1, 2 and 3 cities in 2022, and another 7.25 million square feet in 2023," Anarock said in a statement. In 2021, 5.76 million square feet of new retail real estate supply entered the country. Chennai will see the highest supply of four new malls this year spread over an area of 2.55 million square feet. Other Tier 1 cities with new mall supply include Ahmedabad, Bengaluru, Hyderabad, Mumbai, Pune and Ghaziabad in NCR spanning 5.

Online retail spending in India to grow six-fold to $300 bn by 2030: Report

Online retail spending in India is expected to grow nearly sixfold to USD 300 billion by 2030 with expansion in the number of digitally-influenced shoppers and online shoppers, said BCG