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Last Updated : Feb 18, 2020 03:53 PM IST | Source: Moneycontrol.com

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

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

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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.

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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.

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First Published on Feb 18, 2020 03:48 pm
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