Mumbai, May 9: The Future Group is planning 40 central malls by 2010-11, said Rajesh Seth, vice-president (marketing), at the inauguration of their first central mall in Mumbai.

“We already have six central malls all over the country, this is the seventh mall and the first one in Mumbai. We are also planning a second mall in the Navi Mumbai area of Vashi soon,” he told The Telegraph.

The company is also planning to set up a 300,000 sq ft central mall in Calcutta in the second quarter of next year. The Calcutta mall will be functional in the July to September quarter of the next financial year, he said. The company plans a second mall in Bangalore and one each for Indore and Ahmedabad. “We invest between Rs 18 and Rs 25 crore in each mall,” he said. He, however, did not reveal the investment so far.

In the past, there have been several reports of Pantaloon Retail, part of the Future group, planning to spin off its central mall division to create a new company and come out with an IPO. When asked about an IPO plan, Seth refused to comment.

Central malls offer a wholesome experience to shoppers. The malls are located in the heart of a city so that the customers don’t have to travel long distances to reach the place.

Central malls house over 300 brands across categories, such as apparel, footwear and accessories, apart from a range of music, books and coffee shops,along with food courts, super markets, restaurants, pubs and discotheques.