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Vishal had raised capital a few months ago through one
of the highly successful IPOs of 2007 and is already executing plans of
expansion. It is now seriously looking at adding a restaurant chain that
will serve vegetarian food with emphasis on South Indian delicacies.
The chain, either in a stand alone or sit-down format,
according to a DNA Money report, depending on the availability of real
estate could be set up in its convenios.
The retail giant has already hired a few professionals
and has also begun building the team, according to a senior company official.
According to sources in the know of the project, the
company is not looking at entering into any tie-ups as it wants to pursue
the new venture on its own, says the report.
The restaurant chain is looking at setting up about 200
restaurants at an estimated capital outlay of Rs 50 crore.
Founded in 1986, Vishal Retail is currently operating
80 hypermarkets in 55 cities across 20 states and occupying retailing
space of about two million square feet.
Though there are no official figures on the size of the
restaurants market in India, many companies have made an entry into this
sector. Recently, Dabur's Amit Burman-promoted Lite Bite Foods also entered
into a strategic alliance with EatOut, part of Spain's leading business
house Agrolimen.
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