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Piramals

Piramal Enterprises made its foray into the retail industry in 1999. It entered the market with a lifestyle department store called Piramyd Megastore, a shopping mall called Crossroads and a family

entertainment center called Jammin. The current annual turnover of the organization stands at $20 million. The company has over 50 retail outlets across the country, first of them launched in North India. The CEO of the company is Mr. Ajay Piramal. The flagship company of Piramals is Nicholas Piramal. The organization owns a shopping mall in Mumbai known as Crossroads. The mall is spread over 1,50,000 square feet in four buildings across the city. The stores will also be located in Ludhiana, Delhi, Pune and Ahmedabad.

It is on a land acquisition spree and has bought a number of properties throughout the country. The company has decided to scale up its operations and plunge itself in the retail sector. The company has been signing up contracts with many other organizations to expand its operations.

Piramals is planning to restructure its management into two independent business units. The lifestyle retailing, food, home and personal care would be split into Piramyd Megastore and

Tru-Mart with their own business heads. As the company is planning to expand its operations over the next few months, it needs to split business units to exercise better management. The company is expected to own 13 Megastores and 61 TruMarts by 2008.

Corporate Office:
Pyramid Retail Limited
Khatau House, Ground Floor,
Mogul Lane,
Mahim - West,
Mumbai - 400 016
Contact Person/Compliance Officer: Mr. M.V. Balajee
Email: ipo@piramyd.co.in