27 Mar 2024

Aster DM Healthcare plans a USD 108 million expansion in India while divesting its Gulf business. With ambitions to rank among India's top three hospital chains, Aster aims to add 1,500 beds by 2027. Despite India contributing only a quarter of its revenue, growth in the region outpaces the Gulf. Aster agreed to sell a majority stake in its Gulf business to a consortium led by Fajr Capital, distributing the proceeds to shareholders. Since the announcement, Aster's shares have surged by 32%, reflecting investor optimism. These strategic moves signal Aster's commitment to evolving in the healthcare sector while maintaining excellence in patient care.Read more

PNT Reporter

26 Mar 2024

CIDCO has launched a scheme to sell 243 shops in Navi Mumbai's Ulwe node, aiming to bolster economic activity and provide opportunities for small and medium businesses. With Ulwe's rapid urbanization and strategic location near transit networks and the Mumbai Trans Harbour Link, the area presents promising prospects for business growth. CIDCO's Vice Chairman emphasized the scheme's significance for local entrepreneurs, urging them to seize the opportunity to stimulate economic growth and job creation. Interested parties can register for the auction until April 13, showcasing CIDCO's dedication to fostering business growth and economic development in Navi Mumbai.Read more

PNT Reporter

25 Mar 2024

French sporting goods retailer Decathlon is increasing investments in India to accelerate retail expansion and local manufacturing. It operates 129 stores in India and sees the market growing twice as fast as global rates. The company exports 65% of Indian-made products worldwide. Decathlon plans to expand local sourcing and production in India while opening 10 new stores annually. Its app has over 29 million Indian downloads, showing India�s digital affinity. The upcoming investments aim to strengthen Decathlon's position in India's fast-growing sports and athleisure market.Read more

22 Mar 2024

Kishore Biyani's daughters, Avni Biyani Jhunjhunwala and Ashni Biyani, are reentering the food retail arena with Food Stories, akin to their previous venture Foodhall. Their new gourmet food and experiential retail concept will debut at Ambience Mall in New Delhi, offering artisanal foods including cheeses, condiments, fresh produce, and packaged items. With support from the Narottam Sekhsaria family office, they aim to tap into rising demand for specialized foods and wellness products. This comeback follows the closure of Foodhall due to parent company Future Retail's insolvency issues. Additionally, the sisters plan to introduce Broadway, housing digital-first brands, and have launched Think9 Consumer Technologies to promote digitally native brands across multiple consumption categories. Despite growing competition, their move aligns with the expanding premium food market in India, projected to reach USD 1,230 billion by 2023.Read more

21 Mar 2024

Soho House, renowned for its vibrant creative ambiance, targets India with digital membership expansion and two new physical locations. Their CWH membership program, available in six Indian cities, offers exclusive events and global access to creative individuals. Annual membership costs INR 72,950, making it more accessible. New Delhi and South Mumbai will host upcoming physical houses, promising amenities like rooftop pools and gyms. Despite recent financial concerns, Soho House boasts growing membership and emphasizes service quality. Their Indian expansion reflects the country's burgeoning creative landscape, competing with similar clubs like The Indus Club and The Quorum Club for a sophisticated networking space.Read more

PNT Reporter

20 Mar 2024

Hyatt Hotels plans to open seven new hotels across India by 2024, adding over 1,100 rooms. This is part of Hyatt's goal to grow its portfolio in Southwest Asia to more than 55 hotels by 2024. Hyatt has seen strong growth in India recently and aims to capitalize on the rising domestic tourism market. The expansion will feature new Hyatt Regency, Hyatt Place and Hyatt Centric properties. Hyatt also plans to introduce its Unbound Collection brand in India after renovating the Noor-Us-Sabah Palace in Bhopal.Read more

PNT Reporter

19 Mar 2024

Nexus Select Trust, India's sole listed retail REIT partnered with Blackstone, aims to double its 10 million sq ft portfolio to 20 million sq ft in 5 years, capitalizing on India's retail boom. Unlike developers, Nexus focuses on acquiring malls, boasting a low debt ratio of 14%. A successful IPO raised INR 3,200 crore in 2023, funding expansion. Their strategy involves acquiring established malls and revitalizing them, as seen with a 2021 acquisition. With India's retail sector thriving post-pandemic, Nexus' growth aligns with rising consumption and favorable market conditions, promising a modern retail experience and benefits for consumers and global brands.Read more

PNT Reporter

18 Mar 2024

Zolo Stays, India's leading co-living space, has introduced 'Zolo Diya,' a female-only co-living property in Bengaluru, coinciding with International Women's Day this year. Supported by prominent investors, the initiative aims to empower women through safe, inclusive living spaces. With half of the property already occupied, Zolo Diya prioritizes safety, comfort, and community for its residents. Featuring meticulously crafted amenities and dedicated female staff, it offers a nurturing environment for women to thrive. The official launch event included empowering speeches from female leaders, emphasizing the transformative impact of Zolo Diya on communal living for women.Read more

PNT Reporter

15 Mar 2024

Reliance Brands Limited has bought LensCrafters' India business from DLF Brands, adding to its eyewear portfolio ahead of its IPO. LensCrafters, which is recognized for its prescription eyewear, entered India in 2020 and operates largely in the United States of America. This is Reliance's second relationship with Luxottica-owned eyewear businesses, following the acquisition of Sunglass Hut in 2022. With a focus on increasing its retail services, Reliance hopes to capitalise on India's booming consumer market and improve its position as a retail industry leader, paving the way for further growth and innovation.Read more

14 Mar 2024

Oravel Stays, the parent company of hospitality unicorn OYO, plans to launch the first Palette hotel in Morbi, Gujarat - the ceramic hub of India. The 48-room hotel aims to cater to the business travelers needs in the region that is home to 90% of India's tile production with an annual turnover of about INR 50,000 crore. Oravel Stays had first piloted 10 Palette hotels in cities like Jaipur, Hyderabad, Digha, Mumbai, Chennai, Manesar and Bengaluru last year and now plans to take direct operational control of select properties in high-growth locations. Once completed, it will have 23 Palette hotels in total, operating on a self-managed model similar to OYO hotels. This marks the restart of OYO's self-operated business that was discontinued in 2020.Read more