05 Oct 2023

LOTTE India, a leading chocolate manufacturer, has invested INR 185 crore to expand its production facility in Tamil Nadu. The expansion will increase the production capacity for the company's Choco Pie range and reinforce its position in the Indian confectionery market. The facility expansion has created 200 new jobs, contributing to local employment opportunities. With an increased capacity of 1,420 tonnes per month, LOTTE India aims to meet growing domestic demand and explore potential export opportunities. This expansion highlights the company's commitment to maintaining safety, hygiene, and product quality standards while supporting its growth in the Indian market.Read more

05 Oct 2023

Saya Status, located in Noida, is on track to become India's tallest mall, standing at an impressive 250 feet. Developed by the esteemed Saya Group, this iconic structure in Sector 129 showcases innovative architectural design across its nine floors and vast 1.1 million square feet of rentable space. With a budget of Rs. 2000 crore, the mall is set to be completed by January 2025. Already, it has secured leases with 30 leading brands, filling half of its retail space. The Saya Group's track record in quality construction is well-established, and Saya Status aims to revolutionize the retail industry, offering an unmatched shopping experience in India's tallest mall.Read more

04 Oct 2023

Abu Dhabi Investment Authority (ADIA) is reportedly considering a substantial investment of $600 million in Reliance Retail, owned by Mukesh Ambani's Reliance Industries. ADIA already holds a 1.2% stake in Reliance Retail Ventures since October 2020. Recently, global investment firm KKR increased its stake in RRVL after a full subscription amount of Rs 2,069.50 crore. Earlier in September, Qatar Investment Authority invested Rs 8,278 crore for a 1% stake. Reliance Retail raised significant funds in 2020, with a 10.09% stake valued at Rs 47,265 crore. Reliance Retail, expanding aggressively, achieved over a billion transactions and a user base of 249 million, contributing 18% to FY23 revenue.Read more

04 Oct 2023

Wave Group, a real estate developer, has announced plans to invest approximately Rs 100 crore in adding 35 cinema screens across seven to eight new properties. This expansion comes after the recent launch of Wave Cinemas, a premium 7-screen multiplex in Gurgaon. With these new screens, Wave Group will operate a total of 10 multiplexes and 42 screens. The move into the cinema industry aligns with the trend of real estate developers diversifying into entertainment and hospitality sectors to create comprehensive lifestyle destinations for customers. It also reflects the growing demand for high-quality cinematic experiences in India.Read more

04 Oct 2023

IHG Hotels & Resorts and Saryu Properties & Hotels Pvt. Ltd. will work together to increase IHG's footprint in Mumbai. Voco Mumbai Powai Hotel & Convention Centre and Holiday Inn Express & Suites - Mumbai Powai are the two hotels in Mumbai that will be transformed into IHG-branded establishments. These hotels will open in the upcoming years to serve Mumbai's expanding hospitality industry. The action demonstrates IHG's dedication to offering a variety of lodging alternatives and supporting Mumbai's burgeoning hospitality sector. Additionally, it shows how optimistic the firm is about the city's future as a destination for tourists and business meetings.Read more

04 Oct 2023

Hyatt' brand-affiliated Juniper Hotels has started the process of raising Rs 1,800 crore through an IPO. The company, which is jointly controlled by Saraf Hotels Ltd and Two Seas Holdings Ltd, intends to use the funds to pay off current debts as well as for basic business needs. The rise of Juniper Hotels and the belief in India's hotel industry are both highlighted by its IPO, which consists of new equity shares. In light of the rising demand for high-quality lodging in India's booming tourism sector, the company's position in the market will be strengthened by the IPO's success and will help its expansion plans.Read more

03 Oct 2023

Dusit International has expanded its presence in China with the opening of Dusit Thani Mogan Mountain, Huzhou. This luxury resort is Dusit's 11th property in China and is located in the Zhejiang, Jiangsu, and Shanghai economic region, offering a tranquil retreat for both business and leisure travellers. The resort is set amidst the natural beauty of Mogan Mountain, known for its pristine landscapes and tea plantations. The property features eco-friendly design, wellness facilities, Thai-inspired spa treatments, and a focus on well-being. Guests can enjoy activities like hiking, biking, and paddleboarding in this serene environment.Read more

28 Sep 2023

Oravel Stays, the parent company of Oyo, is poised to achieve its first-ever net profit in the second quarter of the current fiscal year, according to CEO Ritesh Agarwal. He anticipates a net profit of over Rs 16 crore for July to September, a significant milestone as Oyo prepares for an imminent IPO. The company is also projected to end the fiscal year with an impressive adjusted EBITDA of Rs 800 crore, a threefold increase from the previous year. Oyo's financial highlights include strong revenue growth, reduced losses, and an impressive adjusted gross profit margin. Its strategic expansion and cost optimization efforts contribute to its promising future.Read more

27 Sep 2023

Mumbai-based DB Realty is entering the hotel and hospitality industry by acquiring ownership stakes in several entities. This includes a 50% ownership in Bamboo Hotel Global Centre, which is constructing a hotel complex in Aerocity, New Delhi, featuring the St. Regis and the Marriott Marquis hotels. DB Realty also intends to purchase Goan Hotels, which owns the Grand Hyatt Goa, and acquire 75% of the equity shares in BD and P, the owner of the Hilton Mumbai International Airport. This strategic move allows DB Realty to diversify its business and tap into the growing hospitality market to generate a consistent stream of income.Read more

26 Sep 2023

In 2012, actor Salman Khan acquired a Bandra building for Rs 120 crore, intending to transform it into a commercial property. Recently, LandCraft Retail leased the property to establish Food Square, a gourmet store, at a monthly rental of 1 crore, replacing Future Group's Food Hall due to payment issues. This investment trend in commercial properties by Bollywood celebrities, including Amitabh Bachchan and Kartik Aryan, is driven by attractive rental yields. The Indian gourmet food market, currently valued at $1.3 billion, is steadily growing at a 20% annual rate, making it a promising venture. Gourmet retail stores offer a variety of high-quality products, contributing to this market's success.Read more