Aditya Birla Retail plans 10 hypermarkets

Aditya Birla Retail Limited, which operates supermarkets under the ‘more’ brand, is planning to open 8-10 hypermarkets across the country during the next financial year. Of this, about a couple of them will be Andhra Pradesh, said Thomas Varghese, chief executive officer, Aditya Birla Retail Limited

The company currently has only two hypermarkets at Baroda and Mysore.

Over the last 4-5 months, the company closed 55 ‘more’ supermarkets in the country owing to high rentals, bad locations, Varghese told mediapersons.

Despite the slowdown, the company is expecting over 100 per cent growth in sales turnover during this fiscal. “In 2007-08, the sales turnover of 480 ‘more’ stores stood at Rs 500. This year, we are anticipating Rs 1,150 crore with 660 ‘more’ stores,” he said. Aditya Birla Retail is planning to add 100 ‘more’ stores across the country in the next financial year of which about 30 will be in Andhra Pradesh.