Lulu Group to invest Rs 3,500 cr investments in Telangana

UAE-based Lulu Group will be investing about Rs 3,500 crore in investments in Telangana in the next five years in various projects including a Destination Shopping Malls (Rs 3,000 crore) here and also in other cities in the state, Lulu Chairman Yusuff Ali MA said here on Monday.

Yusuff Ali said the company will invest Rs 10,000 crore in India on various ongoing projects over the next three years and the UAE-based conglomerate has invested over Rs 20,000 crore in the country.

He also said his aim is to provide employment to 50,000 people in India and so far his various enterprises have given over 22,000 jobs.

“We have got an investment of more than Rs 20,000 crore in different areas including shopping malls, hotels, and food processing units (in India). We will increase this,” he said.