The biggest bottleneck is availability of quality retail infrastructure/shopping malls, and even the malls which exist in the state are mostly small sized malls mostly focussed on local retail. However, this is where I think the opportunity also exists - to create world class ‘A Grade Shopping Centres’…
Bhumika Realty is the real estate vertical of the Poddar Group of companies and has diversified business interests spanning construction, warehousing, logistics, mining, textiles and manufacturing.
Bhumika Realty Pvt. Ltd. (BRPL) is established with the intention to build quality living, commerical and hospitality spaces which will set a new benchmark in the industry. BRPL is developing Urban Square, one of the India’s largest Retail & Hospitality Centric Mixed Use Projects in Udaipur, Rajasthan. The project is has a total built up area of 1.8 million square feet includes the entire gamut of Real Estate verticals being, commerical, shopping mall, a Five Star Hotel and serviced apartments all under one roof, with a theme of ‘After Here No Where’.
Multiple award winner BRPL has also started development of a Shopping Mall in Alwar, Rajasthan and now plans similar projects in other locations such as Jaipur, Jodhpur, Bikaner, Bhiwadi, Ajmer & Delhi NCR, mostly focussing on Tier II towns.
In an exclusive chat with IMAGES Retail, Uddhav Poddar, Managing Director, Bhumika Realty, talks about how Rajasthan can be a new hub for modern retail with infrastructures like Urban Square and other malls. He also emphasised on the vision, progress and road ahead for the brand.
Excerpts from the chat…
Tell us about the retail market structure in Rajasthan? How much has it grown & developed in the past 3 years?
Rajasthan’s retail structure was mostly unorganised except for maybe a little bit of organised retail in Jaipur. However, we see reasonable change in cities such as Udaipur, Kota, Jodhpur and of course Jaipur, but still there exists a large opportunity for organised retail in the state.
What are the opportunities and bottlenecks for the industry in this region?
The biggest bottleneck is availability of quality retail infrastructure / shopping malls, and even the malls which exist in the state are mostly small sized malls mostly focussed on local retail. However, this is where I think the opportunity also exists - to create world class ‘A Grade Shopping Centres’.
How are malls changing the retail landscape of the Rajasthan?
Let’s start with an example of Urban Square in Udaipur. Urban Square is a retail focussed mix use project with hospitality and entertainment. It is a 2 million sq ft development. Phase 1 is approximately 1 million sq ft, which has 9 large anchor and a mix of vanilla brands. Malls such as ours are changing the retail landscape of not just a particular city but of nearby towns (within a vicinity of 100 kms) as well. Centres like Urban Square will cater not just to the local city population but attract traffic from nearby towns as well, and they will be what you call Regional Shopping Centres. Such centres did not exist in Rajasthan earlier.
What kind of malls are doing well in the region - generic, FECs, theme malls or luxury malls? Elaborate from your brand’s perspective.
We are doing a large regional centre in Udaipur which will provide everything under one roof to residents of Udaipur, Pali, Dungarpur, Rajsamand districts as well as a small neighbourhood shopping centre in Alwar which is in close proximity to premium residential colonies of Alwar. Both malls have a strong focus on food, and have a mix of national/international brands as well as local brands.
Urban Square, Udaipur
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