Image Source: Hospitality Lexis
In a move that signals its intent to diversify and deepen its hospitality footprint, Speciality Restaurants Ltd., the company behind iconic brands like Mainland China, Oh! Calcutta, and Sigree, has approved the development of two prime land parcels—2.03 acres in Durgapur, West Bengal, and 0.96 acres in Bhubaneswar, Odisha. The decision was formalized during the company’s Board meeting held on September 16, 2025, and marks a strategic pivot toward real estate-backed hospitality expansion.
The projects will be executed in partnership with regional developers and Speciality’s wholly owned subsidiary, Speciality Hotels India Private Limited, with the goal of creating high-value hospitality assets that complement the company’s core restaurant business.
Durgapur Development: Tapping into an Industrial Growth Hub
The Durgapur project involves the development of 2.03 acres of land in collaboration with Coal Mines Associated Traders Private Limited, a local partner with deep roots in the region. Durgapur, known for its industrial base and growing urban population, presents a ripe opportunity for hospitality ventures that cater to both business travelers and local residents.
While the company has not yet disclosed the exact nature of the development—whether it will be a hotel, food court, or mixed-use hospitality complex—the move aligns with Speciality’s long-term strategy of owning and operating destination-driven properties in Tier 2 cities.
The land parcel is strategically located near key transport corridors and industrial zones, making it ideal for a mid-scale hotel or branded dining hub. The company has stated that final agreements will be signed following regulatory approvals, and detailed disclosures will be submitted to stock exchanges accordingly.
Bhubaneswar Expansion: Entering Odisha’s Capital Market
The second project focuses on 0.96 acres of land in Bhubaneswar, Odisha’s capital and one of India’s fastest-growing urban centers. This development will be executed jointly by Speciality Hotels India Private Limited and ESSENOS LLP, a regional developer with experience in commercial and hospitality projects.
Bhubaneswar’s emergence as a smart city, coupled with its rich cultural heritage and rising tourism, makes it an attractive location for upscale dining and boutique hospitality offerings. The city’s proximity to Puri and Konark also positions it as a gateway for domestic and international travelers.
Speciality Restaurants aims to leverage this momentum by creating a flagship property that could include a combination of fine dining outlets, banquet facilities, and possibly a boutique hotel. The company has emphasized that the project is subject to necessary approvals and zoning clearances from the Bhubaneswar Development Authority (BDA)3.
Strategic Rationale: Beyond the Plate
These land development initiatives reflect a broader strategic shift for Speciality Restaurants—from being a pure-play restaurant operator to a hospitality ecosystem builder. By investing in real estate, the company gains greater control over its operating environment, enhances brand visibility, and unlocks new revenue streams through asset ownership.
This approach also mitigates rental volatility and allows for customized experiences, which are increasingly important in the post-pandemic hospitality landscape. With urbanization accelerating in Tier 2 cities, Speciality’s timing appears well-calibrated.
Market Reaction and Future Outlook
While the company’s stock remained stable following the announcement, analysts view the move as a long-term value creator, especially if the developments lead to high-margin hospitality assets. Speciality Restaurants has a history of prudent expansion and brand stewardship, and these projects could serve as templates for future rollouts in other emerging cities.
The company has confirmed that further details—including project timelines, investment outlays, and architectural plans—will be shared once final agreements are signed and regulatory approvals are secured.
Conclusion
Speciality Restaurants Ltd.’s approval of land development projects in Durgapur and Bhubaneswar marks a bold step toward building a more integrated hospitality brand. By anchoring its growth in real estate, the company is not just expanding its footprint—it’s laying the foundation for a more resilient and diversified future.
As the projects move from blueprint to reality, stakeholders will be watching closely to see how Speciality blends its culinary excellence with hospitality infrastructure to create experiences that go beyond the plate.
Sources: ScanX News, Bhubaneswar Development Authority, MagicBricks
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