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Ratnadeep Super Market draws plan for expansion

Friday, 03 May 2019
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Food and grocery retailer Ratnadeep Super Market has chalked out an expansion plan to nearly double its network by venturing into Bengaluru, Karnataka. The company plans to roll out around 25 stores over the next two years.

The retailer has acquired on lease around two lakh sq ft of space in upmarket Bengaluru localities of Indira Nagar, Koramangala, Whitefield, Mahadevpura, and HSR Layout, among others with half of them under build to suit (BTS) arrangements.

While the ready-to-move-in stores will be opened during FY20, the stores being readied under BTS arrangements will be occupied in 2020, involving an investment of about Rs 40 crore in Bengaluru.

The company has earmarked Rs 75 crore to nearly double its network to 87 stores spread across Bengaluru and Tier-II and Tier-III cities of Telangana and Andhra Pradesh from 47 now in the twin cities of Hyderabad and Secunderabad. Bengaluru will have around 20 stores over the next 12 months or so, while Ratnadeep Super Market will have another 10 stores in Hyderabad and the rest 10 stores in Tier-II and Tier-III cities of Andhra Pradesh and Telangana.

The company is looking at opening a dedicated warehouse in Bengaluru to cater to the retail stores in Karnataka. It is currently having a two-lakh sq ft warehouse at Kandlakoya in the outskirts of Hyderabad.

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