Inorbit Malls plans expansion as demand for retail spaces soars

After a slow start in retail, Mumbai’s K Raheja Corp is expanding its mall business under Inorbit Malls, with new projects underway, a top executive said.

- Suneera Tandon [e-mail]

It will use internal accruals to fund the expansion.

(BLOOMBERG)

The firm recently added a mall in Hubballi, taking its total mall count to five.

Planned additions include expanding the Vadodara mall and a new property in Visakhapatnam, Andhra Pradesh. Visakhapatnam alone is expected to add L-4-million sq ft by November. The expansion in Vadodara will add 200,000 sq ft to the existing 400,000 sq ft area and is expected to be completed by the end of 2026.

‘The group is also developing a mixed-use project with Brookfield in Hyderabad that will include a mall space.