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Sayaji Hotels Ltd. has announced a multi-party agreement involving SRSB Infrastructure, Zodiac Dealers, Shri Balaji Industrial, and SMS Ltd. following a tender award by NRANVP. The collaboration will develop Sayaji-branded residences in Nava Raipur, Chhattisgarh, marking a strategic diversification into real estate and long-term asset-light growth.
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Sayaji Hotels Ltd., a prominent name in Indian hospitality, is venturing into branded residential development through a strategic agreement with multiple infrastructure and industrial partners. The move follows the award of a tender by the Nava Raipur Atal Nagar Vikas Pradhikaran (NRANVP), positioning Sayaji to expand its footprint beyond hotels into lifestyle real estate.
Key Highlights:
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Tender Award: NRANVP has issued the award for a residential development project in Nava Raipur, Chhattisgarh, spanning 18.64 acres.
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Strategic Partners: Sayaji will collaborate with SRSB Infrastructure Pvt Ltd, Zodiac Dealers, Shri Balaji Industrial, and SMS Ltd for execution and operational support.
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Equity Stake: Sayaji Hotels will hold a 26% stake in SRSB Infrastructure, the lead development entity for the project.
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Revenue Potential: The agreements are expected to generate ₹3.90 crore in fees over the initial term, with management contracts lasting 10 years and licensing/technical service agreements for 5 years.
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Brand Extension: The project will feature Sayaji-branded residences, leveraging the company’s hospitality expertise to create premium living experiences.
Sources: ScanX News, Sayaji Hotels Ltd. Corporate Filings.
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