Sahara India to pump Rs 3,000 crore in its retail venture
Aug 13, 2012
Source : The Economic Times
Sahara India to pump Rs 3,000 crore in its retail


NEW DELHI: Sahara India today announced Rs 3,000 crore investment for its retail venture, while setting an ambitious revenue target of around Rs 50,000 crore after two years.
The group claimed that it will open around 1,000 retail outlets under the 'Sahara Q Shop' brand initially in five states covering 60 cities and towns by 2013. The initiative will kick off from August 15.
"The company has made an initial allocation of Rs 3,000 crore towards this business. We will invest according to the need as we go ahead," Sahara India Pariwar Chairman Subrata Roy told reporters here.
The first-phase launch of Sahara Q Shops, which would have an area of 300 square feet each, in Uttar Pradesh, Uttarakhand, Rajasthan, Bihar and Jharkhand.
Earlier this year, Sahara had announced its plans to foray into the retail sector under the 'Sahara Q Shop' brand of stores. These store would market a range of products under 73 categories, including staples, processed foods, personal care products and home care products.
The company plans to launch retail outlets in 998 towns and cities by March 2013. It is also aiming at revenues of Rs 15,000-20,000 crore in the first 12-18 months and around Rs 50,000 crore after two years.
"We are looking to open around 60,000 outlets in the country in the next 12-18 months. These would majorly be company owned," Roy said.
He added that the new venture would provide jobs to around 1.43 lakh people gradually within 18 months.
When asked about the reason for entering into the new segment, Roy said: "We always try to plan something to enhance the earnings of our workers. This is a very growing business in India. Today the yearly sale of these products in the country is 16 lakh crore and a growth rate of 20 per cent".
The customers would be able to place an order for merchandise at these outlets and the items would be delivered at home by the company's sales force.
Speaking about the hotel business expansion plans in the country Roy said: "In India, we are going to add around 25,000 rooms in the five star category with in two years. In four star and three star categories, we are going to add around 15,000 rooms," Roy said.
He also said that the company would be launching dairy business in March next year.
Replying a query, Roy said Sahara has bought Digicable for USD 52 million.
When asked about FDI in retail Roy said: "If its coming as quality aspect we should welcome anybody and everybody. But most important, which would be suicidal if we allow them to bring products from outside.
"It will be suicidal for the country, so the condition should be they have to manufacture here barring certain items which are difficult to manufacture here," he added.

Latest Realty News

Relax building rules to make best land use, says Assocham
Aug 13, 2012
New Delhi: As the country has limited land resource, city building rules should be liberalised to allow maximum covered areas in construction of houses and commercial buildings, Assocham President Rajkumar N Dhoot said today. "Recommendations of the Ashok Chawla Committee on Natural Resources (in this regard) the Floor Area Ratio (FAR) should be implemented," the Assocham chief said in a state
'Housing prices in 16 cities rise up to 10.5%'
Aug 13, 2012
New Delhi: Housing prices have risen by up to 10.5 per cent in 16 major cities of the country in the April-June period, while only three towns have witnessed a marginal fall, according to National Housing Bank (NHB) data. NHB 'RESIDEX' tracks the movement in prices of residential properties on a quarterly basis since 2007. The NHB RESIDEX now covers 20 cities. "Residential housing prices in
DLF on track to cut debt after Mumbai land sale
Aug 13, 2012
MUMBAI: DLF, India's biggest property developer, is closer to meeting its debt reduction target after it agreed to sell its plot of land in Mumbai for 27 billion rupees ($488 million) to Lodha Developers on Monday. Like other developers, DLF gorged on cheap finance during the 2007-08 property boom in Asia's third-largest economy to fund ambitious expansion plans for millions of square feet of
Maharashtra may revisit redevelopment of textile mill land
Aug 11, 2012
The Maharashtra government may reconsider the redevelopment of land by private textile mills in Mumbai. The state urban development is expected to prepare a status report on this soon. The move is triggered by a Supreme Court judgment, directing Bombay Dyeing Mills to hand over a third of its land each to the Brihanmumbai Municipal Corporation (BMC) and the Maharashtra Housing and Area Develop
Kotak Realty set to invest R400-500 cr in housing projects
Aug 11, 2012
Mumbai: Kotak Realty Fund, part of the Kotak Mahindra Group, plans to invest between R400 crore and R500 crore in three to four residential projects in the current financial year. The fund is looking at housing projects in Bangalore, Delhi and the National Capital Region (NCR), and Mumbai for probable investment opportunities. The investment size will be close to R100 crore in each project, V
Rourkela bus terminus cries for attention
Aug 10, 2012
The Rourkela bus terminus is in a deplorable condition. Protesting the state-of-affairs, the members of Sundargarh Motor Karmachari Sangh (SMKS) and the Rourkela Mini-bus Owners’ Association (RMOA) on Thursday accused the Rourkela Development Authority (RDA) of being indifferent towards the condition of the bus terminus. Concrete ceilings of the main building have peeled off at many places the
DDA housing: Paid for flats, allotted ..
Aug 10, 2012
New Delhi: DDA housing scheme 2010: D-6, Vasant Kunj was to be the hospitality address for visitors and tourists to the city during the 2010 Commonwealth Games. The showcase flats, constructed by Delhi Development Authority (DDA), were to be auctioned later as part of the agency’s mega housing scheme. The project, quite evidently, missed its 2010 deadline as the city government made alternati
Satellite cities to grow with Metro-III
Aug 10, 2012
New Delhi: The elevated stretch of the Metro extension connecting Delhi outskirts to Bahadurgarh in Haryana, will pave the way for the much-sought-after development in the area, said officials. The 11.1-km Metro line will traverse the largely uninhabited locations of the two states and will help connect the various cities in the NCR. For the first time, the Delhi Metro Rail Corporation (DMRC)
Draft development plan for Manesar urban complex approved
Aug 10, 2012
Gurgaon: The District Planning Committee and District Level Committee on Thursday approved the draft development plan of Gurgaon-Manesar Urban Complex-2031. The committees, which met under Deputy Commissioner P C Meena, approved a plan to accommodate a projected population of 41.65 lakh. Under the plan, a total of 32,408 hectares of land has been proposed for urbanisation, of which 15, 82
NRI real estate investment norms simplified
Aug 08, 2012
The purchase and sale of immovable properties in India by a Non Resident Indian (NRI) or by a Person of Indian Origin (PIO) is really a very simple and easy affair with not much hassles and problems. For a detailed and authentic answer one should always refer to the Foreign Exchange Management (Acquisition and Transfer of Immovable Properties in India) Regulations, 2000 as amended from time to ti

Latest Realty News Of State

Realty Talk's