DS Group's Strategic Expansion: Prospects of a ₹2,000 Crore Deal with Great India Place Mall
- Posted on October 18, 2023
- Business
- By TSW NEWS DESK
- 289 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, 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.