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The Andhra Pradesh government has instructed APIIC to assess Lulu Group International's proposal and secure approval for reviving its shopping-mall project in Visakhapatnam. To facilitate this, VMRDA will return 13.43 acres of Harbour Park land on RK Beach Road to APIIC. Lulu Group, which previously planned the project under the TDP government, saw it canceled in 2019. The company has now reaffirmed its commitment, proposing a world-class hypermarket, Funtura amusement park, fine-dining food court, 8-screen IMAX multiplex, and ample parking. Once completed, the mall will be a key shopping and leisure destination for residents and tourists.Read more
Ananta Hotels & Resorts is set to invest up to INR 450 crore to develop company-owned properties as part of its broader expansion plan to operate 50 hotels and resorts within five years. Currently managing 12 properties, the company recently launched a 144-room resort in Ajabgarh, Rajasthan, and is focusing on tier-II cities for growth. The strategy includes projects underway in Jaipur and other locations. Ananta aims to triple its current revenue of INR 250 crore over the next five years, aligning its vision with the government's push to develop unexplored destinations across India.
Nagpur will soon host luxury hotels from Taj Gateway, Hyatt, and Hilton, following MoUs signed as part of over INR 6,100 crore worth of investments by more than 150 companies targeting projects in the district. The three hotel projects alone will bring INR 875 crore, with INR 400 crore earmarked for Taj, INR 300 crore for Hyatt, and INR 175 crore for Hilton. This initiative, part of a district-wide investment push, also includes proposals for four additional hotels and various industrial projects, ranging from MSMEs to large-scale units. Other major investments include over INR 1,100 crore by Xolopak India Limited for sustainable packaging units in Gondia and Nagpur, and a facility by Inventys Research to produce pharmaceutical input substitutes, reducing dependence on imports from China.
Manipal Hospitals is preparing to file for an IPO by June and has shortlisted investment banks, including Kotak Mahindra Capital, Citi, and Morgan Stanley, to manage the offering. The hospital chain, backed by Singapore's Temasek, aims to raise INR 3,000-3,200 crore through a partial stake sale, valuing the company at around INR 44,000 crore. The IPO will help Temasek partially exit its investment after acquiring a majority stake last year. Manipal Hospitals, founded in 2009, operates 30 hospitals across India with over 9,500 beds. It is anticipated that the listing will rank among the biggest in the healthcare industry in recent years.
InterGlobe Hotels (IGH), a joint venture between InterGlobe Enterprises and Accor, is expanding its presence in India through a greenfield development strategy focused on key metropolitan markets. Recently, IGH launched its fifth property in Mumbai at Bandra Kurla Complex (BKC), adding 206 rooms and expecting it to contribute nearly 25% of Mumbai revenue in the next three years. The company is now eyeing further growth in Delhi-NCR, Hyderabad, Bangalore, Pune, and Goa. Currently operating 23 hotels across India, IGH reported 14% revenue growth in 2024 and anticipates maintaining this momentum. The ibis brand, targeting business travelers, enjoys occupancy rates of up to 90%, with projected ADR growth of 5-10% in 2025.
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Thailand-based Minor International Plc, the parent company of Minor Hotels, has outlined an ambitious expansion plan for India, aiming to launch 50 properties by 2035. The group, which operates over 540 hotels globally, has already marked its presence with the recent opening of the Anantara Jewel Bagh in Jaipur. Minor Hotels plans to expand its luxury brands such as Anantara, Avani, and NH Collection across India, focusing on tier I and II cities. The company has also inaugurated a regional office in Bengaluru and appointed Vijay Krishnan as Vice President of Operations for India to spearhead its local initiatives.
D-Mart has leased a 35,000 sq. ft space at Migsun Mi Gente Mall in Ghaziabad, marking its continued expansion in the National Capital Region (NCR). Located in Raj Nagar Extension, the mall offers excellent connectivity and high footfall, making it ideal for D-Mart's focus on affordable groceries and daily essentials. This move aligns with the retailer's strategy of targeting high-density residential areas. The retail real estate market in Ghaziabad is experiencing strong growth, with malls attracting major brands. D-Mart's entry further highlights the increasing demand for large-format stores in well-connected, urban centers.
Grand Continent Hotels opened its IPO for subscription earlier this week, aiming to raise INR 74.4 crore through a combination of fresh equity shares and an offer for sale by its promoter. The price band has been set between INR 107 and INR 113 per share, with the grey market signaling stable interest at the upper price limit. The proceeds from this SME IPO will primarily be used to reduce debt and fund expansion plans across India. The company's consistent financial growth and its mid-scale hospitality operations across multiple cities could attract retail and HNI investors.
The Maharashtra state government has announced an ambitious plan to develop 45 aerial ropeways across key tourist destinations in the state, in partnership with the National Highways Logistics Management Limited (NHLML), a subsidiary of the National Highways Authority of India (NHAI). The project aims to enhance tourism and alleviate traffic congestion at popular sites such as the Elephanta Islands, Alibaug Fort, Matheran, Raigad, Pratapgad, Sinhagad Fort, and Mahabaleshwar. Additional locations identified for ropeway construction include Jejuri, Sajjangad, Ajinkyatara Fort, Thoseghar Waterfalls, and Renuka Temple. The ropeways will be executed under a public-private partnership model, with state agencies maintaining equity stakes.Read more
McDonald's has chosen Hyderabad as the site for its India headquarters and Global Capability Centre (GCC), following a competitive selection process that saw the city triumph over rivals like Bangalore. This strategic move is expected to create 2,000 jobs in its initial phase. The American fast-food giant plans to leverage Telangana's skilled workforce and infrastructure while expanding its local restaurant network. The Telangana government is also looking to strengthen this partnership by offering agricultural produce sourcing and workforce training via state-backed skilling programs, further anchoring McDonald's growing footprint in the region.Read more
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