Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
ITCHOTELS · price
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Awaiting price reaction for this filing.
ITC Hotels has been allotted approximately 3,648 square meters of land (with a permissible built-up area of about 26,179 square meters) at Yashobhoomi, Dwarka, New Delhi by India International Convention and Exhibition Centre Limited (IICC), a Government of India enterprise. The land has been given on a long-term lease of about 91 years for a lease premium of ₹326.50 crores, and the company plans to develop and operate a premium 5-star hotel with banqueting facilities on it. This is a domestic transaction with no related-party involvement, and the company already operates 10 properties with 1,599 keys across Delhi NCR under its ITC Hotels, Welcomhotel, and Fortune brands.
This represents a sizeable long-term capital commitment of ₹326.50 crores, likely above 5% of the company's annual revenue, signalling meaningful expansion. It strengthens ITC Hotels' footprint in a high-visibility MICE (convention and exhibition) hub, which could drive incremental revenue and brand value over the long term once the hotel becomes operational.