Sayaji Hotels Limited has announced the commencement of business operations for its new property, Enrise by Sayaji, in Junagadh, Gujarat, effective from 1st April 2026. The company informed the BSE through a regulatory filing under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Property Details and Positioning

The new property will be managed and operated by Sayaji Hotels Limited, further strengthening the company's presence in Gujarat. The hotel is strategically designed to cater to both religious and leisure travelers, offering a fresh, vibrant, and value-driven hospitality experience in the historic city of Junagadh.

Strategic Location and Connectivity

Junagadh represents a strategic location for hospitality operations, being a historic city renowned for its rich cultural heritage and scenic beauty. The city attracts visitors to prominent destinations including the Girnar Hills, a significant pilgrimage and trekking destination, and the nearby Gir National Park, home to the rare Asiatic lions.

Transportation Access

The property benefits from well-established connectivity to major transport hubs:

Market Positioning

The Enrise by Sayaji brand positioning targets travelers seeking a combination of history, nature, and spirituality. Junagadh's attractions include the historic Uparkot Fort, which adds to the city's architectural and cultural appeal, creating a unique blend of experiences for guests.

The opening of this property represents Sayaji Hotels Limited's continued expansion strategy in the mid-scale and premium hotel segment across India, with particular focus on destinations that combine cultural significance with natural attractions.

Sayaji Hotels Limited has received a credit rating reaffirmation from ICRA Limited for its banking facilities worth Rs. 80.00 crore. The rating agency maintained the [ICRA]BBB+ (Stable) rating across all financial instruments, demonstrating the company's stable credit profile.

Credit Rating Details

ICRA Limited issued the rating communication on March 30, 2026, covering multiple banking facilities provided by Axis Bank. The rating committee took the decision to reaffirm the existing ratings without any changes to the outlook.

Banking Facility Breakdown

The rated facilities are entirely provided by Axis Bank and were originally assigned ratings on March 24, 2026. The term loan facility constitutes the largest portion at Rs. 60.00 crore, followed by working capital facilities of Rs. 15.00 crore and unallocated limits of Rs. 5.00 crore.

Regulatory Compliance

Sayaji Hotels Limited disclosed this credit rating reaffirmation to BSE Limited on March 31, 2026, in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Puneet Karade signed the disclosure document.

Rating Surveillance and Conditions

ICRA Limited noted that the ratings will become due for surveillance within one year from the rating communication date. The rating agency reserves the right to review and revise the ratings based on new information or changing circumstances that could impact the company's credit profile. Any changes in the terms, conditions, or size of the rated instruments would require a review of the ratings by ICRA Limited.

The rating agency emphasized that the assigned ratings should be understood solely as an opinion and should not be treated as recommendations to buy, sell, or hold the company's instruments. The company is required to inform ICRA immediately about any defaults, delays in repayment, or significant developments that could impact its debt servicing capability.