| HyperCity Retail ( India ) Ltd may roll out as many as 300 smaller grocery stores by 2010 even as it adds hypermarkets, as modern retailing starts moving into selling fresh produce, reports livemint.com.
The company plans to open the grocery stores, which will be called Express City and sell vegetables, fruits and food items, in more than 50 cities by 2010, according to a senior company executive who did not wish to be identified.
Currently, HyperCity operates just one 120,000 sq. ft hypermarket in Mumbai. It plans to open another by the end of the year.
The official declined to give details of investments but said the grocery stores would be spread over 3,500-5,000 sq. ft, adding that the company proposes to roll out two dozen such stores in various cities by December.
HyperCity is a unit of Mumbai-based real estate-to-retail company K. Raheja Corp., which owns the country's largest chain of department stores, Shoppers' Stop Ltd.
Earlier this year, the alliance of Shoppers' Stop and HyperCity tied up with Britain 's Home Retail Group to bring Agros catalogue retailing to India . In March, Shoppers' Stop purchased a 19% stake in HyperCity, with the option of raising it to 51%.
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