Aditya Birla Retail Ltd has opened its second hypermarket under the brand ‘more.Megastore' at Kukatpally here.
“Hyderabad is a focus market for us. We may open three more stores here this year as part of our focus on main metros,” Mr Russell Berman, Chief Executive Officer, more.Megastore told newspersons here on Thursday.
The retail industry, especially food items, was doing well with clear increase in customer traffic and spending, Mr Berman said.
In all, the company would open six more stores during current financial year to take up the total number of stores from existing 12 to 18, he said.
The proposed stores would come up in Bangalore, Delhi and Hyderabad with an investment of about Rs 15 crore for a store, he added.
When asked on revenue, he said, “Our commitment to open new stores indicates profitability,” he said.