Reliance Retail, Mukesh Ambani’s owned company, is all geared up to expand operations in UP and East India. The company halted its expansion plans in these regions due to political agitations.
The core regions in UP include Lucknow, Kanpur, Ghaziabad and Noida. It also plans to roll out grocery retailing once the state government policies become clearer. Reliance will invest around Rs 1 crore per sq ft for the grocery stores. The investment will be slightly higher for hypermarkets.
The main focus of the company is on value retailing once the UP government policies are clearer. Currently, there are 1,050 Reliance stores spread across India where value format will account for 650 outlets. The company plans to open another 150 stores by March and will more than double its overall store count over the next five years when it expects to become a 45,000-crore entity.