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Avenue Supermarts, operator of the DMart chain, added 28 new outlets in the March quarter, bringing its FY25 store tally to 50 - the highest in three years. The move comes as competition in grocery retail intensifies, particularly from quick commerce players. Despite expanding its footprint, DMart is facing margin pressures due to lower sales throughput and an unfavourable product mix, according to Citi Research and Morgan Stanley. The company reported INR 14,462 crore in Q4 standalone revenue - up 17% year-on-year - and full-year FY25 revenue of INR 57,789 crore, reflecting a growth of 16.6%, slightly below its five-year CAGR.
Hyatt Hotels is set to launch its all-inclusive Ziva and Zilara resort brands in India, marking a significant shift in the country's hospitality landscape. These resorts will offer guests a package that includes stay, meals, beverages, and curated experiences-unlike the traditional bed-and-breakfast model common in India. The move follows Hyatt's global expansion in this segment, including a USD 2.6 billion acquisition of Playa Hotels & Resorts. Backed by strong domestic demand and double-digit growth, Hyatt plans to add seven new properties in India this year to its current list of 52 hotels and enhance brand loyalty through marketing initiatives and exclusive member experiences.
VLCC, backed by Carlyle Private Equity, is set to increase its company-owned retail clinics from 90 to 175 by the end of April 2025 across tier-1 and metro cities. This expansion aligns with the brand's strong double-digit retail business growth. VLCC currently runs 300 outlets, including franchise locations, and has a presence in the Middle East, South Asia, and Africa. The company, which acquired Ustraa in 2023, is exploring further acquisitions in the digital-first wellness and grooming sector. Founded in 1989, VLCC operates in the skincare, beauty, and wellness sectors, offering both services and products.
The Oberoi Group has secured a three-month extension to manage the Wildflower Hall hotel under a new agreement with the Himachal Pradesh government, following the expiry of its management deadline on 31st March. The two-decade-long legal dispute between East India Hotels (EIH) and the state government concluded with the Supreme Court's ruling in February 2024, directing EIH to vacate the five-star property by March 2025. To prevent revenue losses, the extension has been granted until the property is leased out. A consultant has been appointed to draft bidding documents for the leasing process.
Italian luxury carmaker Ferrari is set to establish its first official service centre and pre-owned car showroom in South India. Through its Indian dealer, Select Cars Private Limited, Ferrari has leased a 10,000 sq. ft retail space in North Bengaluru, near Kempegowda International Airport, at a monthly rent of INR 8 lakh. The lease agreement, commencing on March 1, 2024, spans 10 years with an annual rental escalation of 4.7% and a security deposit of INR 80 lakh. The facility, split across two floors, will provide after-sales support to Ferrari owners in South India. Currently, Ferrari operates showrooms in Mumbai and Delhi, making this Bengaluru outlet a key expansion move in India.
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Park Medi World, operating under the Park Hospitals brand in North India, has submitted draft papers to the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) aiming to raise INR 1,260 crore. The offering comprises a fresh issue of INR 960 crore and an offer-for-sale of INR 300 crore by promoter Ajit Gupta. Proceeds are earmarked for debt repayment (INR 410 crore), hospital development and expansion (INR 110 crore), medical equipment procurement (INR 77.2 crore), and general corporate purposes.
Cineline India has sold its Goa property, Hyatt Centric, to Sparsh Vidhyut for INR 270 crore. This sale allows Cineline to repay INR 120 crore in debt associated with the hotel. The company plans to use the proceeds to clear its INR 108 crore debt linked to its film exhibition business and invest in expanding its operations. The sale is part of a broader strategy to monetize non-core real estate assets to strengthen its financial position and drive growth in the film industry.
Indian Hotels Company Limited (IHCL) plans to expand its portfolio with over 30 new hotel openings in the next financial year, aiming to strengthen its presence across domestic and international markets. The expansion will focus on premium and luxury accommodations to cater to the growing demand in the hospitality sector. This strategy is part of IHCL's long-term vision to diversify its offerings and tap into emerging travel trends. The new hotels are expected to enhance IHCL's market share and solidify its position as a leader in the hospitality industry.
The Mysuru Urban Development Authority (MUDA) is set to develop a five-star hotel in West Mysuru through a public-private partnership (PPP) model. This initiative aims to boost tourism and attract high-end visitors to the region, offering luxurious accommodations and amenities. The project is expected to generate significant economic activity and create job opportunities while enhancing the city's appeal as a tourist destination. MUDA is currently evaluating proposals from potential partners to finalise the investment and execution plans for the upscale hotel project in Mysuru.
Haldirams has sold more than 9% of its stake to Singapore's Temasek, valued at over INR 8,000 crore, bringing the company's valuation to around USD 10 billion (INR 86,000 crore). The company is also in talks to sell another 6% to Alpha Wave Global for over INR 5,100 crore. This deal is expected to fuel Haldirams' expansion both in India and internationally. A potential IPO is also being considered, reflecting the growing interest in India's consumer sector.
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