Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusiness

Radhakishan Damani's DMart to set shop in Delhi: Report

One of the country's largest supermarket chains, 200 DMarts operate across India currently

February 18, 2020 / 03:53 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Billionaire Radhakishan Damani is set to take his supermarket retail chain DMart to Delhi in what would be a move beyond western and southern India, The Economic Times reported.

Avenue Supermarts, which owns DMart, has acquired about 50,000 square feet area in the Karkardooma court area of east Delhi, sources told the paper, while another source said the company is scouting space for four to five stores.

Moneycontrol could not independently verify the report.

One of the country's largest supermarket chains, 200 DMarts operate across India currently. However, these are mostly concentrated in Maharashtra, Gujarat, Andhra Pradesh, Karnataka, Telangana, Rajasthan and Chhattisgarh. In the north, the chain has stores in Uttar Pradesh and Punjab, the report noted.

Meanwhile, Damani, who is Avenue Supermarts founder and DMart promoter, is now India’s second richest billionaire with a wealth of $17.9 billion, as per the Forbes Real Times Billionaires Index. Damani is now second only to Reliance Industries Chairman Mukesh Ambani, who is also the richest person in Asia.

Further, with a net worth of Rs 3,128 crore, DMart CEO Ignatius Navil Noronha is India's richest professional, according to Bloomberg data.

Moneycontrol News
first published: Feb 18, 2020 03:48 pm

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347