Hypercity to launch 3-5 malls in Mumbai this year

K Raheja Group owned Hypercity will soon launch three to five malls this fiscal.

Hypercity is the hypermarket chain of the K Raheja group, which also owns leading retail player Shoppers Stop.

Each mall will be about 65,000 sq ft.

Hypercity also intends to hire up to 1,800 personnel in FY’11.

The company has obtained in-principle approval for its qualified institutional placement (QIP)of around Rs300-crore.