This is the first venture of Lulu Group in Telangana, and this first project in Hyderabad is part of the Rs 500 crore investment that Lulu committed to the state
Hyderabad: Lulu Group launches its first hypermarket and mall in Hyderabad
Telangana IT and Industries Minister KT Rama Rao inaugurated the mall in the presence of Yusuff Ali M A, Chairman of Lulu Group.
The mega shopping mall is located at Kukatpally, a rapidly developing area in Hyderabad.
This is the first venture of Lulu Group in Telangana, and this first project in Hyderabad is part of the Rs 500 crore investment that Lulu committed to the state, a release said.
It is the outcome of several discussions and an MoU signed with the Government of Telangana during K T Rama Rao’s visit to the World Economic Forum last year in Davos.
The Rs 500 crore investment Yusuff Ali promised to the Telangana government was fulfilled within a short period of time, it said.
“We had made many rounds of fruitful discussions with the government of Telangana, and the speed with which they approved the project is commendable. Also, it’ll ensure a world-class shopping experience in Hyderabad. Also, planned multiple investments in the state including food sourcing and exporting centres,” Yusuff Ali said in the release.
Meanwhile, Rama Rao’s official X (formerly Twitter) account quoted Yusuff Ali as saying, “We are committed to invest Rs. 3,500 crores in the next three years in a destination shopping mall, mini malls, agricultural sourcing, logistics and processing hub for facilitating 100 per cent exports and promoting local Telangana products across the country and overseas”.
