SAMHI Hotels Limited has announced a significant expansion through its wholly owned subsidiary, SAMHI Skyline Private Limited, which entered into a long-term lease agreement with INGKA Centres India Private Limited on April 15, 2026. The agreement involves leasing an upscale 162-room hotel within Ingka Centres' upcoming 2.50 million square feet mixed-use development in Noida, Gautam Buddha Nagar, Uttar Pradesh.

Project Details and Strategic Partnership

The hotel will be constructed as part of a comprehensive mixed-use development project situated at E-01, Sector-51, Noida. The project is envisioned as a marquee development that will meaningfully enhance Noida's skyline and strengthen its positioning as a leading commercial and hospitality hub in the Delhi NCR region.

Agreement Structure and Investment Model

The transaction follows SAMHI's capital-efficient long-term variable lease model, ensuring strong alignment of interests while maintaining a capital-light approach. Under this structure, Ingka will lease the building with facade and all high side engineering, while SAMHI will invest in interior fit-outs. The rent payable by SAMHI Skyline will be calculated as a percentage of net revenue generated from hotel operations, along with applicable ancillary service and utility charges.

The hotel will form part of Ingka Centres' mixed-use Meeting Places concept, creating a modern retail-led destination that blends shopping, leisure, and community-focused experiences while supporting local businesses and workspaces.

Management Commentary and Strategic Vision

Ashish Jakhhanwala, Chairman & Managing Director of SAMHI Hotels Ltd., commented: "This partnership with Ingka Centres represents a significant milestone for SAMHI as we continue to scale through our capital-efficient, long-term variable lease model in the National Capital Region. The Noida project is a marquee development with strong underlying demand drivers, and we are delighted to collaborate with world class partners in Ingka to deliver a landmark hospitality asset."

Giovanni Princiotta Cariddi, Country Manager India at Ingka Centres, stated: "We are thrilled to welcome SAMHI Hotels as a partner in our Noida Meeting Place. This collaboration reflects our vision to create vibrant mixed-use destinations where people can live, work, shop and stay—all in one place."

Strategic Implications and Market Expansion

The collaboration brings together SAMHI's institutional operating platform and Ingka Centres' global development expertise, reinforcing SAMHI's strategy of partnering with leading institutional organizations. The project further expands SAMHI's footprint in the Delhi NCR region, where it already operates the Hyatt Place Gurgaon, Holiday Inn Express Gurgaon, and Holiday Inn Express Greater Noida.

Portfolio Impact and Market Positioning

The addition of the 162-room upscale hotel will increase SAMHI's Upper Upscale & Upscale inventory by 7.00% and total inventory by 3.00%. The transaction will expand the company's Delhi NCR presence by 32.00%, bringing the regional portfolio to 676 rooms across multiple segments.

Regulatory Compliance and Implementation

The transaction is subject to fulfillment of certain conditions as specified in the agreement, with the lease deed to be executed upon receipt of requisite building sanctions for construction. The company confirmed this transaction does not constitute a related party transaction and there is no shareholding relationship between the parties involved. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

SAMHI Hotels Limited's board of directors has approved significant strategic acquisitions and investments worth ₹49.86 crore during its meeting held on April 15, 2026. The decisions encompass renewable energy partnerships and internal corporate restructuring initiatives as disclosed under Regulation 30 of SEBI Listing Regulations.

Board Meeting Outcomes

The board meeting, which commenced at 12:45 p.m. (IST) and concluded at 01:30 p.m. (IST), approved two major transactions. The company will enter into shareholder agreements with Clean Max Nile Private Limited and Clean Max Solomon Private Limited to acquire 49% equity stakes in each entity.

Renewable Energy Strategy

These acquisitions enable SAMHI Hotels to qualify for captive consumption under applicable electricity laws by holding the required minimum 26% ownership with corresponding voting rights. The solar projects will supply renewable energy through group captive arrangements to hotels owned by the company's subsidiaries.

Clean Max Nile Private Limited was incorporated on October 29, 2024, and reported a net loss of ₹0.06 million with total equity of ₹0.04 million for FY24-25. Clean Max Solomon Private Limited, incorporated on April 23, 2025, has not commenced business operations as it was recently established.

Subsidiary Investment Transaction

The board also approved a substantial ₹44,01,80,000 investment in Duet India Hotels (Hyderabad) Private Limited, a wholly owned subsidiary. This represents a secondary acquisition of 2,44,87,096 Compulsorily Convertible Cumulative Preference Shares (CCCPS) from Duet India Hotels (Pune) Private Limited.

Financial Performance of Target Subsidiary

Duet India Hotels (Hyderabad) Private Limited, incorporated on July 25, 2008, operates in hotel ownership and asset management. The subsidiary has demonstrated consistent revenue growth across recent years:

Strategic Rationale and Implementation

The renewable energy acquisitions support SAMHI Hotels' sustainability objectives by enabling higher percentage of renewable energy offtake and generating savings in annual utility costs. Both Clean Max entities operate in the Commercial & Industrial (C&I) renewable energy solutions sector and are authorized to develop, generate, and supply renewable energy from solar, wind, or hybrid sources.

The subsidiary investment represents an internal restructuring initiative designed to eliminate cross shareholding, simplify the group structure, and address lender and governance concerns. All transactions are structured as cash considerations and do not require governmental or regulatory approvals. The renewable energy acquisitions are not classified as related party transactions, while the subsidiary investment involves transactions between wholly owned subsidiaries of SAMHI Hotels.