Lulu Group to open hypermarket in Noida, other cities of Uttar Pradesh with investment worth Rs 4,500 crore

Lulu Mall Noida: The Lulu Group is all set to launch its next hyper mall in Noida apart from opening small-scale retail malls in five more cities in a phased manner. The decision has been taken after sensing growth opportunities in the regional centres of Uttar Pradesh.

Senior executives from the company said that- Kanpur, Gorakhpur, Varanasi, Prayagraj and Jhansi had been shortlisted for further expansion of the retail business in the state. Noida has been shortlisted as the destination where another mall spanning over 14-to-15-acre wide area, is going to come up.

The diversified group which is into retail, food processing among other sectors is also contemplating to set up satellite stores in more locations in Lucknow to cater to large number of consumers.

"We are exploring the idea of setting up more hypermarket stores within Lucknow. With a packed schedule it is not easy to commute beyond office hours and a store in the neighbourhood would be helpful to such customers," said Jaya Kumar Gangadharan, director, Lulu Mall, Lucknow.

Lulu Mall in Lucknow:

Inaugurated in July 2022, the hypermarket in Lucknow generates the highest footfall for the group among its half a dozen such malls in the country. On a daily basis, 40,000 to 50,000 individuals, including families from eastern Uttar Pradesh, Nepal and other parts of the state, visit the property.

The business and daily footfall are expected to go up by 30 per cent during the upcoming festival season compared to the last one, said Gangadharan.

"During the last season, the daily footfall in the mall ranged between 25,000 to 35,000. At present, Lucknow property attracts the largest number of patrons in the country," he added.

General manager of the hypermarket in Lucknow, Noman Aziz Khan revealed that ready-to-eat food items, particularly chaat counters, attract the highest number of visitors. From today (October 12), the hypermarket will start its festive celebrations ahead of Dussehra and Diwali.

MoU between UP govt and Lulu Group:

Earlier, the Uttar Pradesh government signed a memorandum of understanding (MoU) with hypermarket and retail giant Lulu Group to set up six shopping malls and one hotel in the state. UP MSME Minister Rakesh Sachan signed an agreement with the Lulu Group in Dubai on December 13, 2022 to set up the shopping malls and hotel. 

As per the MoU, Lulu will set up shopping malls and hypermarkets with a total investment of Rs 4,500 crore. 

The new investment by Lulu in Uttar Pradesh is expected to provide employment to more than 20,000 people after its completion. The MoU was signed in the presence of Narendra Bhushan, Principal Secretary PWD, and Ashraf Ali MA, Executive Director of Lulu Group, in the presence of Rakesh Sanchan during the UP Investment Roadshow.

The Uttar Pradesh government is encouraging investors from Dubai to invest in hospitality, infrastructure, food processing, agro and food security, and real estate sectors. Apart from Lulu Group, Alana Group, VPS Health Care and many other big names have shown interest in investing in the state. Narendra Bhushan, Principal Secretary of PWD, said Uttar Pradesh is the only state which has 38 per cent of the country's total expressways.

(With IANS inputs)

ALSO READ:​ Lulu Group to open six more shopping malls, one hotel in these cities of Uttar Pradesh