Maangalya on expansion mode, plans textile unit

Maangalya Shopping Malls has opened its seventh store at Kukatpally in Hyderabad. It has also announced setting up a textile unit in the Textile Park near Hyderabad.

According to Kasam Namashivaya, Chairman, Maangalya Shopping Malls, “We have a turnover of Rs 500 crore. Hyderabad contributes to Rs 400 crore. We currently have 2 lakh sq ft retail space and employ 2,500 people. Each store entails an investment of about Rs 15 crore.”

He added: “Our thrust currently is on Hyderabad and in the next year alone we intend to open five more malls in the city and ramp up our employee strength to 10,000. We are also eager to be part of the Mega Textile Park, where we will invest Rs 100 crore in setting up a textile manufacturing facility which will employ 500.”

Maangalya Shopping Mall, which is popular for its variety of wedding sarees, makes weddings special with its unique collections and designs.

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Research Desk

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