Pind Hospitality Leases Resort Property in Shimla

Pind Hospitality Ltd has signed an agreement to lease a commercial resort property in Shimla, Himachal Pradesh, for a period of 18 years. The property, measuring 00-80-16 hectares, is being considered as part of the company's expansion plans, which also include revisiting the Haveli project and considering the Shimla project. The initial monthly rent is ₹1,10,000, with an annual escalation, and a security deposit of ₹2,00,000 has been paid. The company confirms this is not a related party transaction. This move aligns with their strategy to expand their hospitality business.