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Tapping new horizons in India

With an investment of billions, LuLu plans to broaden its trust and services across the country and beyond

Yusuffali M A, an Indian businessman of international repute, is a name widely recognised in the UAE and GCC. Hailing from Nattika in the Thrissur district of Kerala, he made a fortune through his dedication, commitment and valuable services in the fields of retail, hospitality and finance. He is currently the Managing Director of Abu Dhabi-headquartered LuLu Group of Companies that owns the LuLu Hypermarket chain in the Middle East. The group employs the largest number of Indians outside India.
The LuLu Group has big-ticket plans for the future. It wants to invest immensely, and expansion will take it to five more states in India. The retail conglomerate already has more than 132 hypermarkets and shopping malls in nine countries. Now it wants to take a plunge in the retail, hospitality and food processing business.
LuLu is a brand name trusted for its quality and services. The group prides itself for having the largest mall in India, LuLu Mall Kochi, as well as two five-star Marriott hotels in Kerala.
Yusuffali M A told Khaleej Times that in an attempt to attract tourists and cater to their growing needs, his group plans to build a shopping mall, a hotel, and a mini-convention and exhibition centre in Gujarat.
This is the first of its kind lucrative investment plan through which LuLu aims to broaden its horizons within India, beyond the state of Kerala, where it has a large presence.
Apart from this, LuLu has planned a shopping mall, five-star hotel and convention centre in Lucknow. Yusuffali says that an investment of Rs1,000 crores has been earmarked for this ambitious project. "The construction work will start by mid-2017, and it is likely to provide employment to more than 3,000 people."
He said that a world-class food processing unit with Rs510 crores is also in the pipeline for Telangana. The project will be completed by August next year, and estimated to employ more than 1,000 people.
Similarly, a shopping mall with an investment of Rs900 crores is coming up in Hyderabad, which Yusuffali believes is among the biggest of its kind in the city. With a budget of Rs2,000 crores, LuLu plans to establish another shopping mall, five-star hotel and convention centre in Thiruvananthapuram.
The managing director adds that it is part of a gigantic Rs6,030-crore investment planned in his home state of Kerala, which could lead to the employment of thousands of people.
He pointed out that construction work for a five-star hotel and an international convention centre in Bolghatty, Kochi, is already in full swing.
Last but not least, the LuLu Cyber Tower with a staggering investment of Rs430 crores (Dh238 million) is set to open by September this year.
In addition, a world-class IT Park, with an investment of Rs1,400 crores (Dh770 million), is on the anvil, that would benefit more than 20,000 IT professionals, he added.
For Yusuffali, honesty and trustworthiness is the way to go. He recently revealed that LuLu plans to focus on halal products and support the companies who produce them.
"This is our responsibility," he said, adding that it would take some time for people to warm up to Islamic products.
Yusuffali reiterated that the business environment in India has improved significantly. "A lot of restrictions have been removed to facilitate investment. The best thing the new government has done is to treat all NRI investment as domestic investment," he pointed out.
- mehkri@khaleejtimes.com