Noida News: DS Group, recognized for its brands such as Rajnigandha and Catch, is exploring the possibility of purchasing Noida’s renowned Great India Place Mall complex in a deal expected to amount to approximately ₹2000 crore. The move is part of the company’s expansion strategy in the retail and hospitality sectors, according to sources cited by Live Mint.
The Great India Place Mall complex, sprawling across 147 acres, includes malls and vacant space that can be repurposed for constructing commercial and residential buildings. The complex was initially constructed by the Appu Ghar Group and the Unitech Group. Presently, Unitech retains 42 percent ownership of the mall, with other entities owning the remainder.
The sale of the complex comes as it grapples with a debt of ₹1000 crore
The sale of the complex comes as it grapples with a debt of ₹1000 crore, and DS Group’s interest in acquiring it aligns with the company’s objectives to expand into the retail and hospitality sectors. DS Group recently acquired Bengaluru’s Viceroy Hotel in July, and it is prepared to invest upfront for such opportunities, demonstrating the availability of funds.
DS Group released a statement saying, “We are always evaluating potential business opportunities, but no bid has been submitted for Great India Place Mall.” In FY 2023, DS Group reported annual revenue of ₹5500 crore and has a diversified portfolio that includes six hotels, retail and coffee chains, and its well-established businesses.