IndiaRetailBiz

Vishal Retail, which went public a few months ago, is growing fast with its 92nd mega store having become operational at Pinjore in Haryana. Spread over 13,000 sq ft, this is the company’s sixth store in the state.

Vishal Retail, currently occupying over two million square feet of space has its operations spread across 63 cities in 20 states, is eyeing at 2.5 million sq ft of space for retail business by the end of December, 2008.

With three of its new stores coming up in Chandigah region, Vishal is also racing ahead with its plans to make 100 stores operational by March, 2008. Vishal would thus have scored a century during the fiscal of 2007-08. Vishal is also expected to cross Rs. 1,000 crore in sales this year. The group had achieves sales of Rs 288 crore in fiscal 2006 and Rs. 603 crore in fiscal 2007

Besides incorporating Technomarts inside the existing stores, Vishal has also decided to enter into sale of pharmacy products.

Vishal is also working on plans to enter realty business. It is expecting to acquire 10 million sq ft of space in the coming three years. Besides real estate business a part of this space would be utilised for expanding the company’s retail business according to a Business-Standard report.