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MUMBAI, Sept. 5

THE Mumbai-based real estate major, the Hiranandani group, is to set up a 110-bed hospital at Powai near here.

A formal announcement of the same will be made in a week, according to Mr Niranjan L. Hiranandani, one of the promoters of the Rs 200-crore group.

Mr Hiranandani was speaking at the formal launch of the group's footwear retail store, The Loft. The 18,000 sq ft `speciality' retail store, is owned by Lakewood Malls Pvt Ltd (LMPL), the retail division of the Hiranandani group.

The store stocks over 50,000 pairs of shoes and more than 80 foreign and Indian brands. Besides shoes, it stocks shoe polishes, laces, socks and foot creams. It also offers services such as pedicures and is equipped with a 110-foot astroturf jogging track that customers can use to try out their purchases.

According to Mr Hiranandani: "The Loft offers a customer-friendly retail ambience, a range of brands under one roof and products that promise value for money.''

The store was opened by cine star, Rani Mukherjee. Speaking on the occasion, the Customer Care Executive & Managing Director, LMPL, Mr Surendra L. Hiranandani, said: "The organised retail format can deliver better standard life for customers as it drives down costs and ensures better value for money.''

LMPL had mapped out an expansion plan under which it planned to take the Loft to six other locations by 2005-06, he said.

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