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Reliance Retail pumped in Rs 30,000 crore to strengthen operations last fiscal

Reliance Retail has invested INR 30,000 crore in FY2022 to expand stores and in strategic acquisitions and partnerships, parent entity Reliance Industries said in its latest annual report.

This is as much as the annual sales of its nearest listed rival, Avenue Supermarts, owner of the DMart chain, and over approximately 70% of the combined revenue of the following five listed retailers, owned by Tata Trent, Aditya Birla Fashion & Retail, Shoppers Stop, Spencer's Retail and V-Mart Retail.

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Even in terms of store expansion investment, Reliance Retail outperforms its closest competitor.

Shoppers Stop said its investment in new store openings and e-commerce in FY22 was Rs 255 crore. Trent said he is investing around Rs 6-7 crore per store in Westside and added 36 new outlets in FY22. In fact, Tatas also pumped Rs 11,872 crore in its latest tax levy into Tata Digital - the e-commerce arm of the super-app owner group Tata Neu that acquired BigBasket e-grocery store and e-pharmacy 1mg.

In FY2021-2022, Reliance Retail said: "Reliance Retail has built capabilities through organic growth, acquisitions and strategic partnerships with investments approaching Rs 30 crore in FY2021-22. Reliance Retail has added more than 2,500 new stores and 11.1 million square feet of warehouse space during the year annual report.

During the year, Reliance acquired stakes in JustDial, Amante, Ritu Kumar and Dunzo, among others.

RIL and MD President Mukesh Ambani said in the report that the retail business added nearly 8 million square feet of retail space, bringing total retail space to more than 41.6 million square feet.

Also Read: Keppel Land to acquire 1 million sqft in Piramal project for over Rs 1200 cr

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