Virtuous Retail to invest $160 million

Virtuous Retail, a leading developer, recently announced that it would invest $ 160 million (nearly Rs 960 crore) in Gujarat over the next few years. This mall developer had also recently launched Lifestyle Shopping Centers in Surat and is also looking to set up a hotel in this city. Addressing reporters, Anupam Yog, Director-Marketing at Virtuous Retail, said, “We are expanding our retail projects in Ahmedabad and Vadodara and would entail an investment of $ 160 million.” Virtuous Retail's pan India portfolio includes malls at Bangalore, Chennai, Mumbai and Pune, and its sponsor - Xander Group has invested $ 600 million in its operations.