LuLu Group to infuse Rs 3,500 cr to provide over 15,000 jobs in TN

30 Mar 2022 CW Team

On Monday, the UAE-based LuLu Group, a $7.4 billion retail conglomerate, inked a memorandum of understanding (MoU) with the Tamil Nadu government to infuse Rs 3,500 crore in the state to create over 15,000 direct and indirect job opportunities to youth in the coming three years.

The chief minister-led delegation inked several MoUs with investors to draw Rs 6,100 crore investment during the five-day visit to the UAE. The MoU was inked in the presence of chief minister M K Stalin and the chairman of LuLu Group MA Yusuff Ali in Abu Dhabi. The first shopping mall will be set up in Chennai by 2024, while the first hypermarket is likely to launch by this year-end in Coimbatore, at the Laxmi Mills compound. LuLu Group will additionally install a food processing and logistics centre for exports to the Middle East. A high-level delegation from the firm will shortly visit the state to finalise locations and complete other investment formalities.

Tamil Nadu led by dynamic chief minister M K Stalin renders excellent infrastructure and help to the investors, and they are very happy to explore bigger investment opportunities not just in Chennai but also in tier two cities like Coimbatore, Salem, Madurai and Trichy, as per Yusuff Ali.

In India, the group has three shopping malls in Thiruvananthapuram, Bengaluru and Kochi. Its fourth mall is likely to be opened in Lucknow by the May end of 2022. Earlier, Stalin met Abdullah Mohamed Al Mazrouei, the elected chairman of the Federation of UAE Chambers of Commerce and Industry and invited UAE firms to install food processing units, food parks and cold chains and logistics facilities in Tamil Nadu to export food products to UAE, the Middle East and North African nations.

Image Source

Also read: Lulu Group to spend Rs 2,000 cr to form shopping mall near Ahmedabad

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..