MUMBAI/ DELHI: By acquiring Hyderabad-based supermarket chain Trinethra Super Retail, the Aditya Vikram Birla Group has joined the stampede into the organized retailing arena. The acquisition gives the AV Birla group a foothold in the fast growing food and grocery market, now the 172-reatil outlets belonging to the Trinethra group, that has annual revenues of about Rs 250 crore form part of Rs 40,000-crore metals-to-BPO conglomerate?s kitty. ?We?ve looked at two different formats ? convenience and supermarket stores,? said group chairman Kumar Mangalam Birla. ?This acquisition through the unlisted Aditya Birla Retail marks the entry of our group into retail and shows its long-term commitment to the business,? he added.. Retail is being touted as one of the fastest growing sectors in India, with the potential market size being estimated at about $300 billion; many, in fact, predict that it will have the same potential and impact as wireless telephony. A recent PricewaterhouseCoopers study estimates the size of organized food retailing in India at about $666 million and is expected to grow at about 30% every year. Hypermarkets and supermarkets would largely drive growth. Trinethra fastest growing chain India Venture Fund-owned Trinethra was found to be southern India?s fastest growing grocery retail chain Founded in 1986, it has currently employs over 2,500 people and is headed by former Reckitt & Benckiser MD Pranab Barua. While the Trinethra brand is used in Tamil Nadu and Andhra Pradesh, in Kerala and Karnataka it is known as Fabmall. Following its success in major cities, the company has recently indicated its intention to grow into tier II cities, where most real estate development is expected to happen. On the Anvil are Trinethra stores in Mysore, Coimbatore and Tirupur. Currently, the it?s supermarkets offer groceries, fresh fruits; vegetable and dairy products; bakery, frozen foods and many have food counters/pharmacies attached to them. The stores also offer value added services such as bill payments and forex remittance. Industry sources pointed out that the Birla Group?s takeover of Trinethra will give the former a strong presence in the supermarkets and hypermarkets arena. Aditya Birla Retail, headed by Sumant Sinha, is currently on a recruitment spree and has attracted about 14,000 applications to its latest job advertisements that called for staff at all levels. Though the Birla group?s retail expansion plans are closely guarded, it has been learnt that the group would pump in Rs 5,000 crore to Rs 6,000 crore at least in the initial phase, which could be subsequently ramped up once the business grows. While it could use its unlisted companies, like Birla TMT Holdings, to finance the investment, some debt could also be raised. The action in the retail space seems to hotting up, Bharti?s Sunil Mittal already having joined hands with US-based world No. 1 Wal-Mart to start its stores in the country. Indian retail sector is attracting foreign retail giants and local majors such as the Reliance Group and the Tatas, and the coming months will see a lot of activity in the field.