Big Bazaar, the retail chain of the Kishore Biyani spearheaded Pantaloon Group, revealed its plans to open 48 new hypermarkets in Maharashtra in the next two years.

Presently, Big Bazaar has 103 hypermarkets in 62 cities across the country, including 23 in Maharashtra. The company has selected location to open hypermarkets in Ghatkopar, Malad and Solapur in Maharashtra.

Official sources revealed that the company is currently planning to open 240 new hypermarkets across the country by 2010-11. Out of which, 20 per cent (48 stores) hypermarkets will be opened in Maharashtra alone and these 48 hypermarkets will cover a total carpet areas of 2.4 million sq ft.

Earlier this week, Big Bazaar has opened its second hypermarket in Nashik, which offers 41,000 sq ft retail space. The firm has invested around Rs 3 crore (excluding the property cost) in this hypermarket.

In addition, Big Bazaar is also scouting for location in Pune. Presently, the firm has 6 hypermarkets in the city.

Future group’s Big Bazaar has registered sales turnover of Rs 3,700 crore during the FY 2007-08 and it expects to achieve sales target of Rs 5,500 crore for the current FY 2008-09.