SRS to invest up to Rs 900 cr in 2 yrs for expansion

Will expand hospitality, cinema, jewellery and realty businesses; firm to also enter retail pharmacy

SRS Ltd will invest up to Rs 900 crore in the next two years to expand retail network of its various consumer centric businesses such as hospitality, cinema, jewellery and real estate.

"We will invest between Rs 700-900 crore in the next two years to expand retail network of our various businesses. We are also foraying into the pharmacy business with the launch of our first store 'SRS Pharmacy' next week," SRS Ltd Group President and Chief Strategy Officer Tinku Singh told PTI.

The firm plans to open 30 SRS Pharmacy stores this fiscal.

"Our plan it to open 100 pharmacy stores every year. We have all the approval in place. We are testing the waters. We will also launch online pharmacy portal next month," SRS E-retail Ltd Managing Director Pratik Jindal said.

Singh added that the company has drawn an aggressive expansion plan to increase its footprints across business verticals.

"We will fund up to Rs 900 crore investment through a mix of internal accruals and debt," he added.

SRS Ltd, which reported a turnover of Rs 3,824.84 crore in the previous fiscal, has presence across various sectors such as retail, hospitality, real estate, cinemas and jewellery.