News: Pantaloon Retail to invest about Rs 1,000 cr in Kerala

(BL 23/02/2007) Kochi - Retail player, Pantaloon Retail India Limited will invest up to Rs 1,000 crore in the next 12 months in Kerala, a top company official said on Friday.

The company recently opened a store in Palakkad and plans to open 12 stores in nine more cities in 12 months, including Thiruvananthapuram, Kochi, Kottayam, Thrissur, Kozhikode, Kasargod, Thalassery, Gudalur and Guruvayur, Atul Takle, Head-Corporate C ommunications, Pantaloon Retail (India), Limited, said here.

He said their company Kshitij, is developing a mall of more than 4,00,000 square feet in Kochi at an estimated cost of Rs 170 crore, expected to be completed in the next 18 months.

Founded in 1987 as a manufacturer and distributor of men's garments, the company went public in September 1991. The first Pantaloon store was launched in Kolkata in 1997, he said, adding that the first 'Big Bazaar' was launched in 2001.

Total revenue for the 2005-06 fiscal was Rs 2018 crore, of which Rs 750 crore came from South India. The company has projected Rs 4,000 crore for this fiscal, of which Rs 1,500-1,600 crore is from South India.

The company has presence in food, fashion and footwear, home solutions, consumer electronics, books and music.