Big Move of Rs. 89 Crore—Radhakishan Damani’s DMart Bought Retail Space in Kandivali, Mumbai

Big Move of Rs. 89 Crore—Radhakishan Damani's DMart Bought Retail Space in Kandivali, Mumbai

Radhakishan Damani’s DMart selected approximately 17 retail units from the ground floor to the second floor, costing Rs. 88.74 crore for establishing a supermarket mart.

In 2002, Avenue Supermarts launched its very first store in Mumbai city. In the present days, around 333 stores are operating along with several retail businesses across Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, NCR, Chhattisgarh, Punjab, Rajasthan, Tamil Nadu and Telangana.

This company has brands like Smart, Dutch Harbour, D Mart Minimax and many more. And now, Avenue Supermarts, known for owning DMart, has purchased a commercial space of approximately 50,000 sq. ft. in Mumbai’s Kandivali. This company has also selected around 17 commercial slots from the ground floor to the second floor for setting up a hypermarket store worth Rs. 88.74 crore. The company has purchased the properties from developer Gauri Land Developers LLP and others.

During 2022-2023, the company made a mark with 1.9 million sq. ft. of retail space across India, and the sales per sq. ft. is Rs. 31,000.

MD and CEO of Avenue Supermarts said, “All Covid19 related issues are behind us. We are very bullish on the brick-and-mortar business, and we continue to focus in this area. We believe that there is a huge opportunity to do better and better in the brick-and-mortar business.”