Kishore Biyani-led Pantaloon Retail India (PRIL) plans to spend close to Rs 250 crore in the next year-and-half for building 10 Central malls in the country.

The company authorities said that the new malls will add another 1.5-1.7 million sq ft to company's existing retail space of 14 million sq ft.

In a separate release, the company has informed that it proposes to expand Central mall further into some of the country's other consumption centres such as Ahmedabad, Bangalore, Vizag, Raipur and Jaipur.

According to sources, the supermarket major will fuel the expansion through Rs 367 crore it raised through preferential issue of equity shares and warrants last month.

The company also intends to raise additional long term funds of up to Rs 1,000 crore in one or more tranches through issuance of securities to various investors.

As per media reports, PRIL will also launch six Big Bazaar and eight Food Bazaar stores by July-end.