Future group to add 15 mn sq ft retail place by 2014

Future group will add 15 million square feet of retail space by 2014 at an investment of around Rs 4,000 crore, a top official said today.

Chairman of Future group Kishore Biyani said the expansion would entail in all its retail formats like Pantaloons, Big Bazaar, Food Bazaar and Home Town.

Inaugurating the country's largest Home Town store here, Biyani said due to the slump in the real estate market, its expansion plan has been slightly delayed.

"But things are gradually bouncing back to normal," Biyani told reporters.

At present, the group operates on around 15 million square feet comprising in all retail formats.

Biyani said the fund raising mode was yet to be ascertained.

During the period July 2009 to June 2010, the group would add around 4.5 million square feet.

The group would form a legal entity which would be the holding company for all the retail formats like Pantaloon Retail and Home Solutions Retail.