Hypercity to open 10 stores by 2011

Hypercity Retail India Limited, part of the K Raheja Group, is planning to set up ten stores by 2011, each with an investment of about Rs 30 crore.

Each store would be spread over 1,00,000 sft, said B S Nagesh, Hypercity vice-chairman at the launch of its first store, Inorbit Mall, here on Friday. With this, it now has four outlets - two in Mumbai and one each in Jaipur and Hyderabad.

Of the ten planned, one each would come up at Amritsar, Mumbai and Bangalore before other cities.

The Hyderabad store would have about 40,000 products sourced from local and global markets and include fresh products, food and grocery, home entertainment, technical appliances, furniture, sports, toys, fashion accessories and footwear.

The company expects to break even after the launch of its seventh store in Bangalore.

The company is also in talks for setting up ATMs, laundry services, pharmacy, bakery and other services at the mall, Nagesh said.