Lulu Group to invest over Rs 3,500 crore in Telangana over next 5 years

HYDERABAD: UAE-based retail giant Lulu Group is all set to drive into Telangana with an investment of over Rs 3,500 crore in setting up malls and food processing facilities over the next five years, chairman Yusuff Ali MA said here on Monday.

Announcing this in the presence of Telangana industries minister KT Rama Rao, Yusuff Ali said the investments include Rs 2,500 crore in setting up a destination mall on the outskirts of Hyderabad that will generate around 12,000 jobs. The group also inked MoUs with the Telangana government for these investments.

But first off the block will be its Rs 300 crore investment in rolling out the first Lulu mall and Lulu Hypermarket in Hyderabad's Kukatpally area where the group has taken over the 5 lakh square feet Manjeera mall.

The 2 lakh square feet Lulu Hypermarket will not just offer fresh produce and grocery but will also have fashion, home appliances, electronics, mobiles, IT, and lifestyle products under the brand names Lulu Fashion Store and Lulu Connect.

The mall is expected to be inaugurated in August this year and is part of the Rs 500 crore MoU inked by the group with the Telangana government at the World Economic Forum at Davos last year. This will make Hyderabad the sixth city after Kochi, Thiruvananthapuram, Bengaluru, Lucknow, and Coimbatore where the group will have its presence.

It will also be pumping in an additional Rs 200 crore in setting up a 100% export-oriented integrated meat processing plant at Chengicherla with a production capacity of 60 metric tonnes per day.

The project, which is expected to generate employment for over 2,500 people, is expected to commence commercial operations in the next 18 months.

The UAE-based group is also planning mini malls on the outskirts of Hyderabad and other major cities and towns in the state with an investment outlay of Rs 1,000 crore, KTR’s office said.

The retail biggie will also be investing in setting up an agri products sourcing and logistics hub near Hyderabad Airport for facilitating exports and promotion of local Telangana produce in India and globally.

The Lulu Group chairman also announced plans to set up a seafood procurement and processing centre in Telangana.

The Abu Dhabi-based $8 billion turnover Lulu Group operates over 250 hypermarkets and 24 shopping malls across 22 countries with a global headcount of over 65,000.