Acquires 34% in Alfa Valley Resort, lines up Rs 300 Cr tourism project
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Board approved acquiring 34% (3,400 shares for Rs 34,000) in Alfa Valley Resort and Wellness from promoters, raising holding to 74% and making it a subsidiary. Target is in hospitality and tourism with nil turnover for the last three years. It is a related party deal, not material, done at arms length. Also approved a joint application for around 113 hectares of Madhya Pradesh government land under the MP Tourism Policy 2025 for an Ultra Mega Tourism Project, with Della Resort as operating partner, estimated investment about Rs 300 crore. Completion targeted by July 15, 2026.
Brings resort arm into full subsidiary fold, sets up Rs 300 crore tourism project pipeline. Positive growth signal, though the target has no revenue yet.