Rs 1,500 Crore Investment by Malabar Group

29 September 2013
Chennai

Kerala-based Malabar Group of Companies, promoters of jewellery chain store Malabar Gold & Diamonds, is planning to invest around Rs 1,500 crore in the near future to expand its business in jewellery, real estate, IT park and organic farming.

“We have made a plan to invest around Rs 1,500 crore in the expansion of gold and jewellery business and real estate projects. The company has 1,600 investors and we will meet the rest of the funding requirement through bank supports,” said M P Ahammed, chairman – Malabar Group of Companies.

Of the total investment, around Rs 900 crore would be spent for expanding the stores. The company currently has around 32 stores in Kerala, 11 each in Tamil Nadu and Karnataka, 10 in Andhra Pradesh, and a few stores in Delhi, Maharashtra and Gujarat.

The company, which launched its 100th showroom in Gurgaon on Saturday, is planning to launch another 100 showrooms by the end of 2015.Plans are also on to expand presence to the northern and western part of the country for a pan-India presence.

Source– http://www.business-standard.com

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