DMart, one of the largest supermarket chains in the country, may soon open stores in Delhi. The company is ready for a bang entry in the national capital. With this move, Radhakishan Damani's brand, which has become the second richest person in India, will spread outside West and South India. According to a media report, Avenue Supermarts Ltd, the parent company of DMart, has taken 50,000 square feet of land in the vicinity of Karkardooma Court in East Delhi for its first supermarket in Delhi.
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Parent company looking for space for 4-5 stores The report quoted a source aware of the development as saying that Avenue Supermarts is looking at space for 4-5 stores in Delhi-NCR. At the moment, Neville Noronha, managing director of Avenue Supermarts, denied any comment about this. Currently limited to Western India, Company Avenue Supermarts has about 200 supermarket stores mainly in Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Rajasthan and Chhattisgarh. The company has stores in Ghaziabad and Punjab in North India. According to a recent report by brokerage company ICICI Securities, DMart opened 7 new outlets in the quarter ended December.
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Size of new stores is more A report by ICICI Securities states, "The most important thing is that the average size of the new stores is 67,000 sq ft (as against the company's average store size of 34,000 sq ft)." This is good for long-term revenue growth and margin growth. ''
A huge jump in the company's shares The shares of Avenue Supermarket have risen by 31% this year. It has increased the market capitalization of the company by Rs 36,000 crore. Radhakishan Damani has become the second richest person in India in Forbes recent list with assets of $ 17.8 billion.
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