Radhakishan Damani's DMart buys retail space in Mumbai

11 Sep 2023 CW Team

Avenue Supermarts, the company behind the national supermarket chain D-Mart, continues to execute its expansion strategy with the recent acquisition of approximately 50,000 square feet of commercial space, spanning four floors within a residential tower in Mumbai's Kandivali suburb. This strategic move involves the purchase of more than 17 commercial units from ground to the second floor of the tower, amounting to an investment exceeding Rs 88.74 crore, with the intention of establishing a hypermarket store. These properties have been acquired from the project developer, Gauri Land Developers LLP, and other stakeholders.

Management at Avenue Supermarts, led by billionaire Radhakishan Damani, has conveyed to analysts their commitment to maintaining a pace of opening 40 stores in the current fiscal year, underscoring the retailer's continued emphasis on store expansion. Just this week, the company inaugurated a new store in Morbi, Gujarat, elevating its total count of supermarket outlets to 333.

As part of this transaction, Avenue Supermarts has fulfilled its stamp duty obligations, amounting to Rs 4.04 crore, during the registration process that took place on August 24, according to documents sourced via Propstack. Furthermore, the deal grants the company exclusive access to 44 car parking spaces within the Gauri Excellency tower. In the fiscal year 2022-23, Avenue Supermarts expanded its retail footprint by 1.9 million square feet nationwide, achieving sales per square foot averaging Rs 31,000.

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..