PVR INOX to close underperforming screens, focus on expansion and debt reduction in FY25
PNT Bureau
PVR INOX plans to shut 60-70 underperforming screens in FY25 while adding 120 new ones, focusing on expansion in South India. The company is shifting to a capital-light growth model, partnering with developers through a franchise-owned, company-operated approach. With a goal to become net-debt free, PVR INOX is considering monetizing non-core real estate assets. Despite reducing capital expenditure, it aims to restore pre-pandemic margins by increasing revenue through higher footfalls, innovative customer strategies, and cost efficiencies. In FY24, the company reported INR 6,203.7 crore in revenue, but a loss of INR 114.3 crore, largely due to merger integration costs....
Ventive Hospitality, a joint venture between Blackstone Group and Pune-based Panchshil Realty, is planning to file a draft prospectus for an Initial Public Offering (IPO). The company could become India's largest international multi-brand hotel owner by EBITDA. It aims to raise around INR 2,500 crore through new shares. The IPO is expected to be filled in the next few weeks. Ventive Hospitality's move is part of its own strategy. The company seeks to expand India's booming hospitality sector and capitalise on market opportunities....
ChrysCapital-backed CFS acquires 51% stake in Laxmi Eye Hospital
PNT Bureau
Delhi-based Centre for Sight (CFS), a leading eye care chain, has acquired a 51% stake in Navi Mumbai's Laxmi Eye Hospital, enhancing its presence to nine centers in Maharashtra. This acquisition is part of CFS's broader expansion strategy, which includes investing INR 300-500 crore over the next few years. Founded in 1989, Laxmi Eye Hospitals operates four centers and is renowned for its quality and affordable care. In May, CFS raised USD 100 million from ChrysCapital, with half used to facilitate an exit for Mahindra and the rest allocated for expansion. CFS recently added 10 centers and reported over 1.5 million annual visits as of March 2024....
DS Group's Pulse Candy recognized by IIMA as a case study in marketing excellence
PNT Bureau
Pulse Candy, a leading brand of Dharampal Satyapal Group (DS Group), has been featured in a prestigious Institute of Management Ahmedabad (IIMA) case study. This recognition highlights Pulse Candy's journey from a disruptive market entry to industry leadership in the hard-boiled candy segment. The study examines DS Group's innovative marketing strategies, market identification, and product differentiation that propelled Pulse Candy to success. It covers the brand's launch, its unique appeal with tangy raw mango flavor, and its achievement of INR 1 billion in sales within eight months, despite challenges like counterfeits and shortages. This case study serves as an inspiring example of effective market strategy....
Oyo, a travel tech platform, has projected a profit after tax (PAT) of over INR 700 crore for the current fiscal year, a significant increase from the INR 229 crore PAT in FY 2024. In Q1 FY 2025, Oyo reported a net profit of INR 132 crore, a sharp turnaround from the INR 108 crore loss in the same period last year. The growth is driven by strong hotel operations in India, Southeast Asia, and the U.S. Oyo's strategic expansions in Europe and aggressive U.S. market entry further bolster its financial outlook for FY 2025....
The Hive Hostels secures INR 11.5 crore in pre-IPO funding to expand luxury student housing
PNT Bureau
The Hive Hostels, a leader in luxury student accommodation, has raised INR 11.5 crore in a pre-IPO funding round, supported by prominent investors including Dr. Shriram Madhav Nene and Sahil Vachani of Max Estates. The funds will fuel the development of "Aurus," a new luxury extension, and support the launch of Hive Campus Living, an initiative aimed at managing university accommodations. With an upcoming IPO and projected revenue of INR 60 crore this fiscal year, The Hive Hostels is poised to strengthen its position in India's premium student housing market....
Trehan IRIS and Marriott International to open first Courtyard hotel in Greater Noida by 2027
PNT Bureau
Trehan IRIS has teamed up with Marriott International to introduce the Courtyard by Marriott brand to Greater Noida West, marking its debut in the Noida region. This new hotel, part of the Iris Broadway Greno West project, will feature 135 rooms, banquet facilities for over 2,000 guests, and amenities like a swimming pool, terraces, and an all-day dining restaurant. The project, including retail and office spaces, represents a INR 400 crore investment and is expected to be operational by 2027. Designed by Benoy, it spans 3.4 acres and will include a high-rise office tower and various upscale features....
Raymond Lifestyle plans 900 new stores in 3 years targeting 12-15% sales growth
PNT Bureau
Raymond Lifestyle, the demerged entity from Raymond, plans to open 900 stores in the next three years, targeting 12-15% annual sales growth and an 18-20% increase in operating profit. The company, set to list on September 5, aims to unlock shareholder value by focusing on the lifestyle segment, driven by a professional management team. Last year, Raymond Lifestyle invested INR 100 crore to boost capacity and plans another INR 100 crore investment this financial year. The company reported FY2024 revenue of INR 6,691 crore, with a 16.3% EBITDA margin and a net cash surplus of INR 227 crore....
Royal Orchid hotels targets 200 properties by 2027 with 35 new openings this year
PNT Bureau
Royal Orchid Hotels Ltd. plans to expand its portfolio to 200 properties by FY27, focusing on tier-two and tier-three cities across India to capitalise on the growing domestic travel demand. The company, currently operating over 107 locations, will open 35 new hotels this year, with 30 in smaller cities. Despite a 19% drop in profit after tax to INR 8.72 crore and rising costs, total income rose by 5.34% to INR 77.66 crore. The expansion aligns with India's strong GDP growth and increasing local tourism, positioning Royal Orchid for future growth in the evolving hospitality sector....
BigBasket to transition fully to quick commerce amid growing demand for speedy deliveries
PNT Bureau
BigBasket, the top online grocery store in India, is changing into a full-fledged platform for fast commerce, with an exclusive emphasis on delivery made in 10 to 30 minutes via its BB Now service. This strategic move, which accounts for more than 50% of the company's sales, indicates the increasing desire for deliveries that happen more quickly. BigBasket, which was established in 2011, is eschewing its conventional slotted delivery methodology in order to maintain its competitiveness in the rapidly changing e-commerce market. The move, which represents a substantial shift in the company's business strategy, will be finished in the upcoming weeks, according to founders Hari Menon and Vipul Parekh....
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