Xander Group-sponsored Virtuous Retail is beefing up its investment in India.

Virtuous Retail, a developer-operator of community-oriented premium lifestyle shopping centres, is allocating US$160 million to build new developments in Gujarat.

“We are expanding our retail projects in Ahmedabad and Vadodara which have good propensity to spend and are aspirational, which make it conducive for retail investment,” said MD Anupam Yog.

The company has opened a 600,000 sqft shopping mall in Surat in May and is planning to build a hotel in the city.

Yog said there’s a huge potential in Western region including Gujarat.

Virtuous Retail has already invested US$600 million in retail projects in Bengaluru, Chennai, Mumbai, Pune, Surat and Kolkata.