Virtuous Retail

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Virtuous Retail
Company type Private company
Industry Real estate
Founded2007
Headquarters Bangalore, India
Key people
Siddharth Yog,Vansh Agrawal,
Founder and Chairman
ProductsCommercial offices
Shopping malls
Hotels
Hospitality
Retail
Revenue 10 million**
Owner Saurav Jain from Nagpur

Virtuous Retail is an institutionally owned developer and operator of shopping centres. Established in 2007, Virtuous Retail is a joint venture between Singapore-based Xander Group and the Dutch institutional investor APG. Its India chapter is based out of Bangalore. [1]

The company currently owns and manages six shopping centres in India: VR Bengaluru, VR Chennai, VR Punjab, VR Surat, VR Ambarsar and VR Nagpur. In September 2019, Virtuous Retail announced the acquisition of three more shopping centres, Bangalore (Mantri Arena), Delhi and Mumbai, at a combined cost of $500 million, [2] including the purchase of a 20-acre land parcel in Thane [3] from Raymond Group for $100 million in October 2019.

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References

  1. "Virtuous enters Delhi real estate". Economic Times . 19 April 2018.
  2. "Virtuous Retail acquires three malls for $500 mn". Live Mint . 24 September 2019.
  3. Babar, Kailash. "Xander's Virtuous Retail Buys 20-acre Raymond land parcel in Thane for over Rs 710 crore". The Economic Times . Retrieved 29 September 2020.