Maangalya to open showroom in Hyderabad

Hyderabad: Warangal-based Maangalya Shopping Malls on Tuesday announced that it would open its new showroom in Kukatpally in Hyderabad on Thursday. It is the textile retailer's seventh showroom overall and one of its largest one, spreading over 25,000 sft.

Maangalya entered Hyderabad market in January 2019 by opening its maiden textile showroom in Madinaguda. It's second outlet came up in Boduppal in March 2019. The new showroom is fifth one for it in the city

"Our current turnover has touched Rs 500 crore from Rs 100 crore in 2012, with seven shopping malls, off which four are in Hyderabad. Hyderabad alone is contributing Rs 400 cr to our turnover. Therefore, we are opening our fifth Mall at Kukatpally. On an average, we invest Rs 15 crore in reach store," Kasam Namashivaya, Chairman, Maangalya Shopping Malls, told the media here.

At present, the textile retail group has two lakh sft of retail space and employs 2,500 people. "We intend to increase our focus on the Hyderabad market by opening five more outlets in the city," he said.

The company is gearing up to set up Rs 100-crore unit at the mega textile park coming up in Warangal.