Shoppers Stop is likely to launch 12 outlets with a total area of 650,000 sq.
ft. by 2012 to cash in the fall in mall rentals, reversal of service tax thereon
and possible revival in the economy.
The company is expected to require Rs 91 crore for the additional stores and
Rs 32.50 crore on the inventory. The proposed expansion is likely to be funded
through a mix of internal accruals, debt and possible equity infusion. The
company plans to open four stores this fiscal in Bengaluru, Ahmedabad and
Hyderabad, and four each in the next two fiscals, each store measuring around
55,000 sq. ft.