The Hindu Business Line : Siri Mahamart plans hypermarket chain

SIRI Mahamart Trading Pvt Ltd is planning to invest Rs 100 crore or so in setting up hypermarkets across the State over the next 12-18 months, said Mr K. Anjaneyulu, Chairman.

At a press conference here the other day, he said the company had set up the first Magna market in Vijayawada and the second one in Hyderabad.

"The third one in the State will be opened here at Gopalapatnam and we are looking for suitable sites to open two or three more markets in Vizag and at Kakinada, Rajahmundry, Tirupati and several other places in the three regions of the State," he said.

Each of the markets will have food courts as well as an apparel section.

Mr Anjaneyulu claimed that he had vast experience in retail marketing and as the former Managing Director of the Trinetra retail chain, he had built up that chain of stores.

Asked about competition from bigger players and the possible entry of foreign companies into the retail segment in future, he said he had no worries on that count.