Spencer to inject Rs 1,500 cr, eyes Rs 1,800 cr revenue by Mar '09

Ghaziabad , May 9 (UNI) Spencer's Retail, a unit of RPG Enterprises today said it will pump in Rs 1,500 crore to open 250 new retail outlets across the country, and expects a revenue of Rs 1,800 crore by March 2009.

''We will invest Rs 1,500 crore across different formats to open additional 250 stores by March 2009,'' RPG Enterprises Vice Chairman Sanjiv Goenka told reporters here.

At present, the company operates 400 small stores.

Mr Goenka said he expected the retail chain to post a revenue of Rs 1,800 crore for the year ending March 2009, up from Rs 1,000 crore a year ago.

The company today launched two new hyper stores at Ghaziabad and Gurgaon with a total investment of Rs 60 crore, he added.

The company is also mulling 'multiple' tie-ups with international firms in the next six months, the Vice Chairman said.

UNI PDT SBA ND1608