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Food and grocery retailer Ratnadeep Super Market has chalked out an aggressive expansion plan to double its network by venturing into the Bengaluru market to roll out around 25 stores over the next two years. The retailer headquartered in Hyderabad has acquired around 2 lakh square feet of space in upmarket localities of Indira Nagar, Koramangala, Whitefield, Mahadevpura, and HSR Layout among others.
In all, the Rs 625-crore company in revenues last fiscal has earmarked around Rs 75 crore to nearly double its network to 87 stores spread across Bengaluru and tier-II and tier-III cities of Telangana and Andhra Pradesh.
The three-decade-old grocery retailer had readied plans to open nearly 40 stores in Karnataka and Telugu speaking states of Andhra Pradesh and Telangana. Bengaluru will have around 20 stores over the next 12 months or so, while Ratnadeep will have another 10 stores in Hyderabad and the rest 10 stores in tier-II and tier-III cities of Andhra Pradesh and Telangana.
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