Schloss To Build Leela Hotel in Mumbai's BKC
Real Estate

Schloss To Build Leela Hotel in Mumbai's BKC

Schloss Bangalore, the operator of premium hotels under 'The Leela' brand, has secured land allotment for a new 250-key luxury hotel in Mumbai’s Bandra Kurla Complex (BKC). The announcement was made via stock exchange filing on 3 June following approval from the Mumbai Metropolitan Region Development Authority (MMRDA).

The project site, measuring 8,412 square metres, has been leased to Schloss Bangalore and its consortium partners for a period of 80 years. The total lease premium amounts to over Rs 13 billion. According to the terms, 25 per cent of the lease amount must be paid within two months of the allotment offer, with the remaining 75 per cent payable over the following ten months. Possession of the land will be granted only upon full payment.

Schloss Bangalore had submitted its bid for the project in February this year. The new hotel is expected to bolster the company’s presence in India’s commercial capital, targeting high-end business and luxury travellers.

On 2 June, Schloss Bangalore made its stock market debut on the BSE at Rs 406.50 per share, reflecting a 6.55 per cent discount to its IPO price of Rs 435. Despite the initial weakness, the stock quickly rebounded, rising nearly 7 per cent to close just below its issue price at Rs 434. At closing, the company’s market capitalisation stood at over Rs 145 billion.

Schloss Bangalore, the operator of premium hotels under 'The Leela' brand, has secured land allotment for a new 250-key luxury hotel in Mumbai’s Bandra Kurla Complex (BKC). The announcement was made via stock exchange filing on 3 June following approval from the Mumbai Metropolitan Region Development Authority (MMRDA).The project site, measuring 8,412 square metres, has been leased to Schloss Bangalore and its consortium partners for a period of 80 years. The total lease premium amounts to over Rs 13 billion. According to the terms, 25 per cent of the lease amount must be paid within two months of the allotment offer, with the remaining 75 per cent payable over the following ten months. Possession of the land will be granted only upon full payment.Schloss Bangalore had submitted its bid for the project in February this year. The new hotel is expected to bolster the company’s presence in India’s commercial capital, targeting high-end business and luxury travellers.On 2 June, Schloss Bangalore made its stock market debut on the BSE at Rs 406.50 per share, reflecting a 6.55 per cent discount to its IPO price of Rs 435. Despite the initial weakness, the stock quickly rebounded, rising nearly 7 per cent to close just below its issue price at Rs 434. At closing, the company’s market capitalisation stood at over Rs 145 billion.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code