The company is also actively looking at new greenfield developments and exploring acquisitions of existing developments in key cities such as Ahmedabad and Nagpur in the region, Yog said.
In May this year, the company launched community-oriented premium Lifestyle Shopping Centers spread over 600,000 square feet in Surat in Gujarat. It is also contemplating to set up a hotel property in Surat, Yog said.
"We see huge potential in Western region including Gujarat," he said.
Virtuous Retail's pan-India portfolio includes locations in Bangalore, Chennai, Mumbai, Pune, Surat and Kolkata. VR's sponsor the Xander Group Inc has invested a total of $600 mn of equity into the retail platform.