Aditya Birla Retail (ABRL), which operates supermarkets under the ‘more’ brand, has announced to set up 10 hypermarkets and up to 100 supermarkets this fiscal.
"We plan to open 10 hypermarkets and up to 100 supermarkets this fiscal," Thomas Varghese, CEO at Aditya Birla Retail, said that the company is expecting to break-even by 2013.
He added that the hypermarkets will come up in existing metros like Delhi, Bangalore, Hyderabad and Mumbai, while the supermarkets will come up in Tier II cities.
The investment per hypermarket would be around Rs 16 crore, while it would be Rs 40 lakh per supermarket, Varghese said.
With the 10 new hypermarkets, ABRL will attain the number two position in the hypermarket segment, he said. At present, Aditya Birla Retail has 540 supermarkets and six hypermarkets.