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Lifestyle India to open 7 shopping malls in next three years
PTI - Mumbai
Lifestyle India, a part of Dubai-based Landmark group,
is planning to double its number of malls in India to 14 in next three years
and expects to increase its turnover to Rs 650 crore in fiscal 2007 from the
present Rs 350 crore.
"The rollout is to extend our services to other
parts of the country, where we don’t have a presence and is being done
under over pan-India strategy," Lifestyle India managing director, Mr S
Kumar said.
The company, which opened its sixth showroom in suburban
Lower Parel recently, would launch its seventh one by September in the western
suburb of Malad, he said.
Lifestyle India would set up two malls in Delhi, while
Pune, Ahmedabad and Kolkata are the other cities shortlisted for setting up
of the malls. The company is also evaluating places like Kochi, Indore, Ludhiana,
Chandigarh, Lucknow and Jaipur for its pan India presence, he added.
"Each mall will cost around Rs 10 crore and we
expect to spend around Rs 200 crore by end of 2006-07," Mr Kumar said adding,
the company had already spent Rs 105 crore in the country.
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