Spice Islands Leases & Operates 'The Ocean Prime' Hotel in Dwarka

Spice Islands Industries Limited has entered into a Hotel Lease & Operating Agreement with Ladhu kara Charities for 'The Ocean Prime' hotel in Dwarka, Gujarat. The agreement, effective July 1, 2026, is for a period of 11 months and 29 days, concluding on June 30, 2027. This move aims to expand the company's hospitality business, strengthen its presence in the sector, and create new revenue streams. The hotel features 26 rooms and restaurant facilities. The monthly lease rent is ₹3,00,000 with a 10% annual escalation, and a security deposit of ₹50,00,000 is payable. The transaction is with an unrelated party.