Reliance Retail pumped in Rs 30,000 crore to reinforce operations last fiscal

By siliconindia  |  Tuesday, 09 August 2022, 08:54:55 AM IST

Reliance Retail pumped in Rs 30,000 crore to reinforce operations last fiscal
Reliance Retail invested INR 30,000 crore in fiscal year 2022 to expand stores, and on acquisitions and strategic partnerships, parent entity Reliance Industries said in its latest annual report.
This is as much as the annual sales of its nearest listed rival, Avenue Supermarts which owns the DMart chain, and almost 70% more than the combined revenue of the next five listed retailers - Tata-owned Trent, Aditya Birla Fashion & Retail, Shoppers Stop, Spencer's Retail and V-Mart Retail.
Even in terms of store expansion investment, Reliance Retail towers over its nearest rivals.
Shoppers Stop has said that its investment in new store openings and ecommerce FY22 was Rs 255 crore. Trent has said it invests about Rs 6-7 crore per Westside store and added 36 new outlets in FY22. In fact, the Tatas have additionally pumped in INR 11,872 crore last fiscal in Tata Digital - the e-commerce arm of the group which owns super app Tata Neu and which acquired e-grocer BigBasket and e-pharmacy 1mg.
"Reliance Retail has built capabilities through organic growth, acquisitions and strategic partnerships with investments near Rs 30,000 crore in FY 2021-22. Reliance Retail added over 2,500 new stores and 11.1 million square feet of warehousing space during the year," Reliance Industries said in the annual report.
During the year, Reliance acquired stakes in JustDial, Amante, Ritu Kumar, and Dunzo, among others.
RIL's chairman and MD Mukesh Ambani said in the report that the retail business added nearly 8 million square feet of retail space, taking its total retail space to over 41.6 million sq ft.

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