Aditya Birla Retail to invest Rs.1500 Crore on expansion

Aditya Birla Retail has decided to invest about Rs 1,500 crores in the next five years to expand its hypermarket and supermarket stores.

The company that runs hypermarkets under the 'More Megastore' brand is looking to open 12 stores each year, while adding around 150 outlets every year to its 'More' chain of supermarkets. The average store size of the 'More Megastore' hypermarket will be around 60,000-70,000 sq. ft. Currently, the company has 12 hypermarkets and 590 supermarkets.