Real estate firm Parsvnath Developers will announce a joint venture with a foreign partner in June to develop around eight to ten hypermarkets in India, as rising incomes boost spending power in the country.
“Our focus in the first year for the joint venture will be to have 8 to 10 hypermarkets in operation, starting from North India,” Parsvnath chairman Pradeep Jain said in an interview to a news agency in Singapore.
The company presently has 31 projects in India including malls and apartments, and is also targeting tier II and III cities like Mysore and Jaipur for new projects.
