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NEWS

24
Aug
2017

Xander's retail arm eyes expansion in India

Following its recent 2-million sq-ft mall acquisition in Mohali for Rs 700 crore, the Singapore-based company is already evaluating proposals for more acquisitions in retail space Private equity major Xander Group's retail arm Virtuous Retail South Asia(VRSA) is actively looking to expand its retail portfolio in India from the current size of 5.5 million sq ft, said a top company official. The platform, jointly owned by Xander and Dutch pension fund asset manager APG, currently has the second largest retail footprint in India. Following its recent 2-million sq-ft mall acquisition in Mohali for Rs 700 crore, the Singapore-based company is already evaluating proposals for more acquisitions in retail space. “We are actively looking at various acquisition proposals for our expansion here. We will commit capital from Virtuous Retail South Asia for opportunities with right price and location. Over the next 2-3 years, we are likely to pump in more capital and are open to leveraging as well,“ Siddharth Yog, founder, Xander Group, told ET.
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