Supertech to Invest Rs 750 cr in its Retail & Commercial segment
Supertech Limited is investing Rs 750 crore to develop 25 lakh sq. ft. area in retail and commercial segment spread across Delhi-NCR. The development will take place in Supertech’s key commercial projects – Supernova, E square and North Eye. Commenting on the development Mohit Arora, Director, Supertech Ltd. said, “Retail segment in India is gaining momentum and Supertech is gearing up to capitalise the opportunity by expanding its retail footprint in Delhi NCR region. To strengthen our retail business we have appointed Mr. Vijay Kapoor as CEO of Retail and Commercial segment. Mr. Kapoor has worked with PVR, Eros in the past and has 25 years of experience which will be instrumental in driving our retail business segment.” Almost 400 national & international brands will have their retail presence in projects like Supernova, North Eye, and E-Square -Delhi NCR. These projects come with a unique perspective and a mix of retail, commercial & residential zone. India’s retail market is expected to nearly double to US$ 1 trillion by 2020 from US$ 600 billion in 2015, driven by income growth and urbanisation. While the overall retail market is expected to grow at 12 per cent per annum.
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