Lulu Group to Invest ₹3,500 Crore in Telangana, Unveils Plans for Mega Mall and Food Processing Facilities
- ByStartupStory | June 26, 2023
The renowned Abu Dhabi-based Lulu Group, known for its mega malls and hypermarkets, has announced its foray into Telangana with an ambitious investment plan of ₹3,500 crore over the next five years. The investment will encompass various sectors, including the establishment of a destination mall, logistics hub, and food, meat, and fish processing facilities, aimed at enhancing the Group’s presence in the state.
During the announcement ceremony held on Monday, June 26, 2023, in the presence of Telangana Industries and IT Minister K.T. Rama Rao, Lulu Group Chairman M.A. Yusuff Ali shared insights into the upcoming projects. He emphasized the Group’s commitment to setting up a 100% export-oriented food processing unit, which will deal with fruits, vegetables, millets, pulses, and spices. These facilities will play a vital role in ensuring supplies for Lulu Group’s extensive network of over 250 hypermarkets across 22 countries.
Additionally, plans are underway to establish an agriculture sourcing and logistics hub near Hyderabad airport, with an investment of ₹150 crore. This hub will facilitate exports and promote Telangana’s produce. Furthermore, Lulu Group will invest ₹200 crore in an export-oriented integrated meat processing plant, capable of processing 60 tonnes per day, located in Chengicherla. The plant is expected to commence commercial operations within the next 18 months and generate employment opportunities for over 2,000 individuals.
One of the major components of the proposed investment is the development of a sprawling destination mall spanning 2.2 million square feet, entailing an investment exceeding ₹2,000 crore. Three potential locations have been shortlisted, and once the necessary studies, including traffic surveys, are completed, Lulu Group aims to complete the project within 18 months.
Furthermore, the Group’s entry into Telangana will be marked by a ₹300 crore investment in rebranding the existing 500,000 square feet Manjeera Mall as Lulu Mall. The Chairman stated that approximately 80% of the work has been completed, and the mall is expected to open its doors to the public in either late August or early September. The Lulu hypermarket, covering 200,000 square feet, will be the centerpiece of the mall located in Kukatpally. This transformation is set to create around 2,000 job opportunities, with 800 direct hires.
Speaking about the Group’s overall investments in India, Chairman M.A. Yusuff Ali stated, “We have thus far invested ₹20,000 crore in India, and within the next three years, we plan to invest ₹10,000 crore in various projects, including malls in Ahmedabad and Chennai, as well as a food processing plant in Noida.” He further mentioned that the Group aims to generate 50,000 jobs in the country, having already provided 22,000 employment opportunities. The Chairman also expressed the Group’s interest in sourcing rice and processing fish for exports from Telangana.
Telangana Industries and IT Minister K.T. Rama Rao warmly welcomed Lulu Group’s decision to scale up its investment in the state from ₹500 crore to ₹3,500 crore. He assured the Group of the state government’s unwavering support for their upcoming projects, recognizing the significant contributions the investments will make to the local economy and job creation.
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