K Raheja Group’s retail arm, HyperCITY, plans to expand its presence by opening 10 new stores with a new compact format. The retailer has inked agreements to establish the new stores in Tier-I markets. The stores on a average will be 50,000 sq ft. Additionally, the stores will encompass various formats of standalone stores, stores inside malls and so on. Unlike its large format stores, the new stores will stack merchandise on a smaller scale excluding furniture and electronics. The HyperCITY stores will be set up with an investment ranging between Rs 5 crore and Rs 8 crore.