The Hindu Business Line : Pantaloon plans Rs 360-cr capex this fiscal

MUMBAI: Pantaloon Retail India Ltd (PRIL) plans to spend Rs 360-crore in the remainder of this fiscal, to add up to 2.4-million sq ft of retail space to existing operations.

“We have a capex plan of Rs 360-crore to add up 2.4- million sq ft of retail space...that is in the Pantaloon Retail balance-sheet and not the subsidiaries. That’s the plan for the balance 7-8 months (of this financial year),” Pantaloon Retail India Ltd’ s Managing Director, Kishore Biyani, told reporters after the company’s 22nd AGM here. The company, a part of the diversified Future Group, begins its financial year in July.

While the Future Group operates 15-million sq ft of retail space across India, Pantaloon Retail with its multiple lifestyle and value chains runs around 13-million sq ft.

Pantaloon Retail is also looking to hive-off its value retail chain - Big Bazaar- into a separate subsidiary, which may eventually go for an initial public offer (IPO). “We are looking at subsidarisation of Big Bazaar into a separate company... if we nee d capital, probably we can raise capital (through a public issue),” Mr Biyani said. - PTI

Prev: Tata Tele starts TV services on broadband
Next: Pantaloon to spend Rs 360 cr for expansion

Business Line | NUS Index |

Copyright copy; 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line