Bharti-Walmart, a 50:50 joint venture between Bharti Enterprises and US-based Walmart, has roped in real estate company, Ansal API, to set up its cash-and-carry store in Lucknow.The ‘Best Price Modern Wholesale’ store in Lucknow will be spread over 60,000 sq feet in Sushant Golf City, a high-tech residential township being developed by the Ansals.
“It is a long-term lease agreement. The minimum lease would be for seven years. The Bharti-Walmart unit would come up by end of this year,” a company official said. Lease contract with Ansal API is part of the Bharti-Walmart initiative to open 165 outlets in wholesale format by 2011-end. The company already operates three cash-and-carry stores in India at Amritsar, Ludhiana and Jalandhar. A senior Ansal API official confirmed the deal, however refused to give the details. A Bharti-Walmart spokesperson said, “We do not comment on specific real estate properties.”
Ansal API is developing a residential township spread over 3,500 acres 10 km away from the main city. The township, also being considered as sub-city, will have hospitals, universities, offices, biotech-park, retail units and five-star hotels. The entire project is expected to cost Rs 50,000 crore. The real estate firm will construct the unit for Bharti-Walmart.
The Best Price Modern Wholesale store stocks 6,000 items with a range of fresh, frozen and chilled food, fruits and vegetables, dry groceries, personal and home care, hotel and restaurant supplies, clothing, office supplies and general merchandise items. The JV is expected to open 10 to 15 wholesale cash-and-carry facilities and employ 6,000-7,000 people over next two years.
