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Apeejay Surrendra Park Hotels is set to claim 55 per cent of revenues from its upcoming luxury hotel and serviced-apartment development along Kolkata's EM Bypass. The 3.5-acre project, in partnership with Ambuja Neotia Group, will house a 250-key five-star hotel and 100 serviced residences. With most approvals in hand and municipal clearance expected soon, construction is slated to begin shortly. Residential units will launch around Diwali. The ambitious venture promises strong margins without additional capital and is expected to generate INR 600 crore in total revenues over three years.
Apeejay Surrendra Park Hotels is poised to steer a high-profile development along the EM Bypass, in collaboration with Ambuja Neotia Group. This 3.5-acre project blends a 250-room five-star hotel and 100 luxury serviced apartments, a clear step toward elevating the city's hospitality offerings. Advertisement
Most regulatory hurdles have already been cleared, including road, fire, forest, airport authority, water, sewage, drainage, and KMDA approvals. While the Kolkata Municipal Corporation's building nod is lined up soon, construction will kick off without delay.
Drawing from past delays the land was acquired back in 2008 for INR 135 crore but stymied by a lengthy tax dispute the project now gains fresh momentum. Notably, that dispute has since been resolved. With no additional capital outlay required beyond its existing landholding, the company expects the venture to deliver strong profit margins and stand out as a shining asset in its portfolio.
The formal commencement is timed with the Diwali season in 2025, overlapping the residential sales launch. Projections estimate total revenues exceeding INR 600 crore, with Apeejay's share averaging INR 100 crore annually for the next three years.
Demand indicators look promising. Hotel occupancy is forecasted to climb progressively from 75 per cent initially to 90 per cent by FY31 while average room rates are expected to rise from INR 11,000 to around INR 13,008 over the same period. Topline earnings are anticipated at approximately INR 136 crore, INR 159 crore, and INR 192 crore respectively over the three fiscal years.
This development comes as part of a broader expansion strategy: after a successful IPO and debt clearance, the company is scaling up across key Indian cities. The EM Bypass project stands as a particularly strong growth engine in its real estate-led hospitality trajectory
Source PTI
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