Date:09/12/2005 URL: http://www.thehindubusinessline.com/2005/12/09/stories/2005120902191000.htm

Back Pyramid Retail to invest Rs 135 cr for expansion

Our Bureau

New Delhi , Dec. 8

PYRAMID Retail, the Piramal Group promoted chain, would add 12 more malls in lifestyle category and 60 more stores in the food and grocery category in northern and westestern region by 2008.

The company would invest Rs 135 crore for the purpose, said Mr Krish Iyer, Managing Director and Chief Operating Officer, Pyramid Retail.

"Pyramid Retail Ltd, the lifestyle chain, would have 12 more malls in northern and western regions in the next one-and-a-half years with an investment of about Rs 100 crore. Its food and grocery chain Truemart would add 60 more outlets during the same period," Mr Iyer told newspersons on the sidelines of Footfalls--International Conference on Opportunities and Challenges in Retail.

The conference was jointly organised by FICCI and Department of Consumer Affairs.