Lulu Group to invest Rs 10,000-cr in India

Lulu Group has announced plans to invest over Rs 10,000 crore in various ongoing projects in India over the next three years, leading to the creation of approximately 50,000 employment opportunities.

The company has already initiated the construction of shopping malls in Ahmedabad and Chennai. Additionally, it will establish a food processing plant in Noida and Telangana. The upcoming Lulu Mall in Ahmedabad, covering five lakh sq. ft. and costing Rs 300 crore, is set to be inaugurated in August 2023. Furthermore, Lulu Group intends to develop an export-oriented integrated meat-processing plant and a 2.2 million sq. ft. destination mall.

Telangana is a key focus for Lulu Group, with an investment of around Rs 3,500 crore planned for various projects in the next five years. This includes the development of destination shopping malls, estimated to cost nearly Rs 3,000 crore. The company also aims to establish an agriculture sourcing and logistics hub near Hyderabad Airport to facilitate the export of local products manufactured in Telangana to India and the global market.

Lulu Group has agreed to set up fish processing and meat processing plants in the state, as proposed by the Department of Municipal Administration and Urban Development. Furthermore, the company plans to procure rice from Telangana for supply to its hypermarkets.