The RPG Group has unveiled its plans to pump in Rs 1.6 billion in its specialty retail business, especially in Music World and bookstore chain Books and Beyond, in the next two years.

Under the investment, the company will put up 15 Books and Beyond stores this financial year, and eventually have 50 such outlets in two years at an outlay of Rs 1 billion.

The expansion will see the Music World floor space increasing from the existing 80,000 sq.ft to 200,000 sq.ft.

RPG`s specialty retail division posted revenues of Rs 1.5 billion last year and expects to close the current fiscal with Rs 2.5 billion.