Arihant Subsidiary Signs Luxury Hotel Deal with ITC Hotels

Arihant Superstructures Limited's wholly owned subsidiary, Dwellcons Pvt. Ltd., has signed a hotel operating agreement with ITC Hotels Ltd. for a luxury hotel under the 'Mementos by ITC Hotels' brand. Located at the World Villas project in Chowk, Mumbai 3.0, the hotel will feature 227 rooms and 44 suites, along with extensive banqueting facilities. The project, spread across 10 acres within a 90-acre development, is expected to be completed in three years. Upon operational maturity, the hotel is projected to generate annual revenues of ₹150-200+ crores with a 45% operating margin, establishing a long-term annuity income stream and enhancing the overall asset valuation of the World Villas project.