Carrefour might choose Parsvnath, a New Delhi-based real estate company, as its master franchisee in India.
Carrefour has been in talks with as many as 50 domestic business houses including Mumbai-based Wadia group and Mukesh Ambani-led Reliance Industries and real estate companies, such as DLF, in the past five years. It is learnt that they might choose Parsvnath, a New Delhi-based real estate company, as its master franchisee in India. The real estate developer has a good land bank of almost five million sq ft retail space and plans to increase it to six times in the next five years. Carrefour is exploring the wholesale cash-and-carry format and front-end retailing options in the country. The master franchisee company Carrefour India would give its Indian partners the license to do front-end retailing using the French retailer`s brand name. The company will also manage the whole-supply chain and provide the logistic support to the retail firm. Parsvnath however has declined to confirm the news. Neetal Narang, AGM – Corp Comm, said, “We would not like to comment on this because nothing has yet been finalized. Parsvnath has been in talks with many international companies who want to enter India. We have a very good land bank. So it’s natural for international companies to approach us for their Indian foray.”