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Poised for Growth

Leading conglomerate LuLu Group looks to invest Rs 100 billion in the next five years

Published: Tue 15 Aug 2023, 11:21 AM

Updated: Tue 15 Aug 2023, 11:24 AM

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Yusuffali MA, Chairman at Lulu Group, seen with Indian Prime Minister Narendra Modi and The President, His Highness Sheikh Mohamed bin Zayed Al Nahyan, during an official reception to the Prime Minister in Abu Dhabi recently.

Yusuffali MA, Chairman at Lulu Group, seen with Indian Prime Minister Narendra Modi and The President, His Highness Sheikh Mohamed bin Zayed Al Nahyan, during an official reception to the Prime Minister in Abu Dhabi recently.

The UAE-based retailer LuLu Group is expanding rapidly in India with an investment of ₹100 billion in retail, food processing industry. The ongoing projects of the company in states like Telangana, Tamil Nadu, Kerala, Gujarat, Uttar Pradesh, etc will provide employment to almost 50,000 people in India.

Yusuffali MA, Chairman at LuLu Group, said that the retail conglomerate has already invested ₹200 billion in the country.

"The ongoing projects of the company in states like Telangana, Gujarat, Uttar Pradesh, etc will provide around 50,000 employments in India apart from more than 22,000 jobs that have been provided so far.”

“We are in the process of finalising the construction schedule of a shopping mall in Ahmedabad. Another shopping mall is also being planned in Chennai in Tamil Nadu. The liberalised NRI investment norms in India, after which all investments by non-resident Indians are treated as domestic investments is attracting large scale investments from the Indian diaspora across the world,” said Yusuffali.

One of the company's retail projects in Telangana is nearing completion and is expected to open soon. Apart from this, LuLu Group has plans to add a state-of-the-art Destination Mall (2.2 million sqft) and an export-oriented modern integrated meat processing plant in the state.

LuLu Group’s shopping malls and hypermarkets are in Kochi, Thiruvananthapuram, Bengaluru, Lucknow, and Coimbatore.

Apart from the retail projects, LuLu is also investing in the field of food processing in various parts of India. A state of art food processing and logistics hub is coming up in Noida in Uttar Pradesh, Srinagar in the UT of Jammu and Kashmir.

Recently, LuLu opened a state-of-art seafood processing hub in Aroor near Kochi. The new hub will process raw seafood and will also produce many value-added products such as squid rings, buttered shrimps, shrimp salad and will boost seafood exports from Kerala. State-of-the-art machineries have been imported from Denmark for the processing of seafoods. The seafood processing unit which will function 24 hours a day will provide direct and indirect employment to more than 800 people.

With more than 250 hypermarkets and 24 shopping malls across 22 nations, LuLu employs more than 65,000 plus strong workforce from 42 different nations and has an annual turnover of $8 billion globally.



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