Indian conglomerate Sahara India plans to open nearly 800 ‘Q’ shops in India enlisting an investment of Rs30bn ($539.7m).
The stores to be located in Bihar, Jharkhand, Rajasthan, Uttar Pradesh and Uttarkand are slated to open by March 2013 and will retail food and grocery.
Initially the stores will be be opened in 60 cities and towns, the company said.
Sahara India Parivar chairman Subrata Roy Sahara said that company plans to scale up operations to 998 cities and towns besides providing employment to nearly 143,000 people.
Expected to generate revenues of around Rs150bn ($2.69bn) in the first 18 months, the company expects these to go up to Rs450bn ($8bn) in the next two to three years.
The company claims that it will rely on its existing network of salespersons to generate demand and bring in customers.
First-phase launch of Sahara Q Shops in the said states will feature stores occupying an area of 300ft² each.
Speaking about expasnion plan, Roy told rediffBusiness that the company is looking to open around 60,000 outlets in the country in the next 12-18 months.
"These would majorly be company owned," Roy added.
Sahara India’s warehouses, each situated around 50 kms away from the point of demand, will serve the retail outlets.
The company operates across multiple sectors which include finance, infrastructure & housing, media & entertainment, consumer merchandise retail venture, manufacturing and information technology.