Samhi Hotels Limited has informed the Exchange about receipt of a confirmation dated 27th October 2025 by the Company''s step-down subsidiary, Duet India Hotels (Navi Mumbai) Private Limited, from the Maharashtra Industrial Development Corporation ("MIDC") for extension of the development period for the project land situated in Navi Mumbai, subject to compliance with the conditions specified in MIDC''s letter. The Company now proposes to develop a dual-branded hotel under ''Westin'' and ''Fairfield by Marriott'' brands. Please take this information on your records.
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Samhi Hotels' step-down subsidiary, Duet India Hotels (Navi Mumbai), has received a confirmation from MIDC extending the development period for its project land in Navi Mumbai. The extension is subject to compliance with conditions laid out in MIDC's letter dated 27 October 2025. The company now plans to develop a dual-branded hotel on this land under the Westin and Fairfield by Marriott brands. This clears a regulatory hurdle and gives the company more time to execute the project with established international hospitality brands.
Mildly positive for shareholders as it removes a timing uncertainty around the Navi Mumbai land and confirms intent to build with premium international brands, though development is still conditional on meeting MIDC's requirements.