Correspondence: Shelja Jose Kuruvilla, ITM Business School, 25 & 26, Institutional Area Sector-4, Kharghar (E), Navi Mumbai-410210, Tel: 91 22 27742793/98; Fax: 91 22 27562801

¹a faculty with the Institute of Technology and Management in the area of Retail and Marketing, has been in academics for the past five years after a brief stint in the industry, where she held the position of Product Manager on her last assignment. She is currently pursuing her PhD with Birla Institute of Technology, Pilani, India. Her research interests are in varied fields including shopping center patronage, competitive strategies for small retailers and semiotics.

²is currently the Chief Executive Officer of the Raghuleela Properties Pvt. Ltd, India which manages the Raghuleela malls. Raghuleela is part of the Wadhwa group of companies which is into major commercial, retail, residential, recreational and hospitality real estate development in India. He is an engineer by qualification. In addition to being responsible for the Raghuleela malls, he is also part of the top management at Wadhwa and is involved in the group's other prestigious projects.

Received 26 February 2008; Revised 26 February 2008.

Abstract

Organised Retail in India has seen remarkable growth in the last decade. In addition to the blossoming economy, one of the major drivers of this strong growth trajectory can be attributed to the rapid mall development in the country. This study, based on interviews with practicing retailers, mall managers and secondary data, tries to understand the analytical and financial steps that are undertaken before setting up a mall, sources of financing a mall and the sources of revenue and expenditure. On the basis of the findings, some suggestions are also put forth to enable a better relationship between tenant and mall management, and to ease the growing pains currently faced by malls in India.