UAE-based LuLu Group, which has opened a 1-lakh-sq-ft hypermarket in Greater Noida, is targeting an investment of ₹2500 crore to establish 25 outlets across Delhi-NCR by 2030. The outlets will comprise a mix of hypermarkets and smaller daily concept stores, depending on the catchment and population of each location, a senior company executive told Hindustan Times.
The outlets will vary in size, with daily concept stores typically spanning around 30,000 sq ft and larger hypermarkets occupying larger spaces, said Jayakumar Gangadharan, Director – UP, Delhi NCR, and Telangana, adding that the company is targeting the number of stores rather than a specific total retail area.
The LuLu hypermarket in Greater Noida spans 1 lakh sq ft on the lower ground floor of I-Thum’s Galleria Mall. The company sees its opening as an entry point into the wider Delhi-NCR market rather than a standalone expansion into Greater Noida.
“We were targeting NCR as a region. We have signed up at other locations as well, including Gurugram, and are looking at more spaces. The projects are at different stages, and this one happened to be ready earlier. We got a bigger space here (Greater Noida), and I am glad we could start with a bigger concept,” the executive said.
The company has leased the Greater Noida property for 15 years. The hypermarket is expected to generate additional footfall for the mall, which currently receives around 8,000 visitors a day.
Also Read: LuLu opens 1 lakh sq ft hypermarket in Greater Noida
“We are expecting a 70-80% increase in the mall’s footfall, and we are hoping to account for around 50% of the total footfall,” he said.
Gurugram expansion
LuLu Group is also planning to open a store spanning around 30,000 sq ft in a mall in Gurugram by the end of the current financial year. Fit-outs are expected to begin soon, with the project currently at the design and planning stage, the executive said.
The company is looking at mall properties across Delhi-NCR, particularly in densely populated areas and emerging residential catchments. It is open to both larger hypermarket formats and smaller stores, typically ranging from 30,000 sq ft to 70,000 sq ft, depending on space availability and the location’s potential.
“We started in Uttar Pradesh with Lucknow, and Delhi-NCR was obviously the next market we wanted to penetrate and expand into. The NCR region is densely populated, and we see potential to have multiple stores in each city, including Delhi and Gurugram,” he said.
The company is also exploring both outright purchases and leases for its expansion. Leasing space in existing malls allows it to use established retail infrastructure, while its own mall developments offer an opportunity to create an integrated retail environment, he said.
Expansion in Lucknow and other cities
In Lucknow, where the group first established its presence in Uttar Pradesh with a 22 lakh sq ft mall in 2022, LuLu is planning two additional stores, each around 30,000 sq ft, in Ashiyana and Aliganj. Both are mall properties, and fit-outs are nearly complete, the executive said.
The company is also gradually expanding its omnichannel and online services. These are expected to be introduced in Greater Noida in line with the model it operates in Lucknow.
The Greater Noida hypermarket is expected to engage at least 1,500 people, directly and indirectly, according to the executive. In Lucknow, the group’s operations have generated employment for around 12,000-15,000 people, including direct and indirect jobs.
The retailer’s product portfolio spans domestic and international offerings, with sourcing operations across 32 countries. Its stores offer a wide range of products across categories, Gangadharan said.
India investment plan
In 2022, LuLu Group announced plans to invest in India over four years across malls, hypermarkets and other businesses. The proposed investments covered several cities, including Gurugram, Noida, Varanasi, Prayagraj, Hyderabad, Bengaluru and Chennai, as well as locations across Kerala.
The Greater Noida outlet is the group’s 23rd store, while projects in Ahmedabad and Visakhapatnam are at the design stage, the executive said, adding the company plans to invest nearly ₹2500 crore in NCR and UP.
The group has also opened stores in Bengaluru and Chennai, including a 40,000-sq-ft outlet in Bengaluru and stores spanning around 1 lakh sq ft and 30,000 sq ft in Chennai, respectively, the executive said.
The company has also expanded through partnerships with metro rail operators. On October 12, it opened its first hypermarket in Chennai at Shenoy Nagar Metro Station on the Chennai Metro’s Green Line, alongside a smaller LuLu Daily store at Chennai Central Metro Station. The Shenoy Nagar hypermarket spans around 1 lakh sq ft and includes a supermarket and department store, with LuLu Fashion Store and LuLu Connect outlets.
With operations spanning more than 35 countries, LuLu Group has a retail network of more than 285 stores and 24 shopping malls across the Gulf Cooperation Council region, Egypt, India and the Far East, according to the company.
