Listed real estate developer Arihant Superstructures Limited intends to enter the hospitality industry by generating annuity income from establishments such as a gymkhana, club, and hotel.
According to Ashok Chhajer, chairman and managing director of Arihant Superstructures, the developer intends to construct 30 lakh square feet of real estate close to the Mumbai Trans Harbour Link (MTHL) and the future Navi Mumbai International Airport, with an estimated revenue of Rs 3,000 crore, as reported by Moneycontrol.
Hospitality foray
As to the company’s statement, the World Villas and Club 10 gymkhana project in the Panvel region of Navi Mumbai will be the first initiative of its hospitality expansion. On 9 acres, a 221-key hotel is planned, and on 10.5 acres, there will be a gymkhana and another sports club.
