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DS Group's Strategic Expansion: Prospects of a ₹2,000 Crore Deal with Great India Place Mall

  • Posted on October 18, 2023
  • Business
  • By Arijit Dutta
  • 404 Views

DS Group, renowned for its iconic brands Rajnigandha and Catch, is actively considering a substantial ₹2,000 crore deal to acquire Noida's iconic Great India Place Mall, marking a pivotal move in the realms of retail and hospitality.

DS Group's Strategic Expansion: Prospects of a ₹2,000 Crore Deal with Great India Place Mall Image Source -www.newsncr.com

DS Group, renowned for its iconic brands Rajnigandha and Catch, is actively considering a substantial ₹2,000 crore deal to acquire Noida's iconic Great India Place Mall, marking a pivotal move in the realms of retail and hospitality.

In a bid to diversify its portfolio, DS Group is reportedly in talks to venture into the retail and hospitality sectors, prompting its keen interest in the sprawling Great India Place Mall complex.

The vast complex, sprawling across 147 acres, offers prime space for commercial and residential development, making it a strategic target for DS Group's expansion plans.

With historical roots dating back to its inception, the Great India Place Mall was initially conceived through a partnership between the Appu Ghar Group and the Unitech Group. Presently, Unitech retains a substantial 42 percent stake in the mall, with the remainder distributed among various other stakeholders.

This move aligns with DS Group's strategic vision following their acquisition of Bengaluru's Viceroy Hotel in July, demonstrating their commitment to bolster their presence in the retail and hospitality sectors.

Despite initial plans to fund the ₹300 crore Viceroy Hotel acquisition through internal resources, DS Group opted for a minor loan, showcasing their financial robustness in the process.

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DS Group addressed the ongoing speculations, stating, "We are continually evaluating potential business opportunities, but no formal bid has been submitted for Great India Place Mall at this time."

With an impressive annual revenue of ₹5,500 crore in FY 2023, DS Group has already carved a prominent niche in various industries. The conglomerate operates six hotels and possesses retail and coffee chains, further reinforcing its market presence alongside existing businesses.

In a strategic move, DS Group is exploring a multi-billion rupee deal to acquire the Great India Place Mall, signifying their ambition to diversify and expand their operations in the ever-evolving worlds of retail and hospitality.

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Arijit Dutta

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