Reliance Retail on a Shopping Spree
Of the 52 plots that the Delhi Development Authority auctioned this week for a substantial Rs 1,696 crore, Reliance Retail—through a number of associate companies – has picked up at least 17 sites for nearly Rs 1,000 crore.
According to a DDA official, the majority of the plots picked up by Reliance Retail are in Dwarka, an area located close to Indira Gandhi International Airport. These plots are located within Dwarka’s district and community centers and Reliance will construct its outlets on the land.
An analysis of the bigger deals reveals that Reliance Retail has purchased sites for hypermarkets and speciality stores.
Given the lack of authorised retail and commercial space in Delhi and the sealing drive undertaken by the Municipal Corporation of Delhi, Reliance Retail’s margin for these deals can best be judged by the price paid for the area that it will develop.
Reliance Retail Ltd has expanded its operations in Jaipur with Reliance Fresh launching two more stores in the city. With this launch, Reliance Retail now has a total of 7 stores in Jaipur.