Virtuous Retail
Owner of shopping centres
From Wikipedia, the free encyclopedia
Virtuous Retail South Asia (VRSA) owns and operates shopping centres across India in major cities like Chennai, Bengaluru, Surat, Amritsar, Nagpur, and Chandigarh. Their centres are designed with a focus on integrating the historical and cultural heritage of the surrounding community into their architecture and programming. These centers typically feature a diverse range of food and beverage options, retail and community spaces, but their scope extends beyond mere shopping experiences.[1][2][3][4]
Shopping malls
Hotels
Hospitality
Retail
| |
| Company type | Private company |
|---|---|
| Industry | Retail |
| Founded | 2007 |
| Products | Commercial offices Shopping malls Hotels Hospitality Retail |
History
Virtuous Retail was founded in 2007 by Xander Group to develop community-centric retail and mixed-use projects in India.[5] In 2016, Xander partnered with APG to form a $450 million joint venture, with APG holding a majority stake of 77%.[5] The joint venture company, Virtuous Retail South Asia, acquired three retail assets from a Xander-backed fund for ₹2,000 crore.[5]
Since then, VRSA has expanded its portfolio through organic growth and acquisitions. In 2019, the company acquired two shopping malls from Tata Realty and Infrastructure Ltd for ₹700 crore. VRSA currently has a total of six operational malls and two under-construction projects in Thane and Delhi.[6][7][8][3]
