Mall space in India is set to increase by 30-35 million square feet (msf), or a third of current stock, over the next 3-4 years, spurred by the strong recovery in retail sales last fiscal. The retail recovery is expected to sustain, as broad-based consumption across geographies as well as sectors fortifies demand resilience. In fact, revenue of mall owners for this fiscal is estimated at 125% of the pre-pandemic level.
