“DS Group Explores ₹2000 Crore Acquisition of Great India Place Mall for Retail and Hospitality Expansion”
DS Group, renowned for its Rajnigandha and Catch brands, is considering a substantial ₹2000 crore deal to acquire the iconic Great India Place Mall in Noida as part of its expansion into the retail and hospitality sectors. The move could breathe new life into the struggling mall complex, which is burdened by a ₹1000 crore debt.
The DS Group, a Noida-based conglomerate known for its popular brands Rajnigandha and Catch, is reportedly in talks to acquire the renowned Great India Place Mall complex in Noida in a deal valued at approximately ₹2000 crore. This strategic move signals the DS Group’s ambitious plan to expand its footprint in the retail and hospitality sectors.
Constructed across 147 acres, the Great India Place Mall complex comprises malls and vacant spaces that could potentially be developed into commercial and residential properties. Originally established by the Appu Ghar Group and the Unitech Group, the mall complex’s ownership is currently divided, with Unitech Group holding a 42 percent stake, while other entities possess the remaining portion.
The decision to explore this acquisition comes at a crucial juncture for the Great India Place Mall, as it grapples with a significant debt burden of ₹1000 crore. The potential deal not only offers a lifeline to the struggling complex but also aligns with DS Group’s larger strategy to bolster its presence in the retail and hospitality sectors.
The DS Group, based in Noida, made headlines earlier this year with its acquisition of Bengaluru’s Viceroy Hotel in a deal worth ₹300 crore. This move underscores the company’s commitment to advancing its interests in the retail and hospitality segments. Sources suggest that DS Group initially intended to finance the Viceroy deal using internal resources but later secured a small loan, highlighting its financial stability and ability to secure funding when necessary.
A spokesperson for the DS Group issued a statement in response to the reports, stating, “We are always evaluating potential business opportunities, but no bid has been submitted for the Great India Place Mall.”
The DS Group has exhibited impressive financial performance, with an annual revenue of ₹5500 crore in the fiscal year 2023. The conglomerate’s portfolio includes ownership of six hotels, as well as retail and coffee chains, in addition to its well-established brands.
This potential acquisition of the Great India Place Mall not only reflects DS Group’s growing ambitions in the retail and hospitality sectors but also its ability to take on substantial investments to further its strategic objectives. It is anticipated that this move could potentially revitalize the iconic Noida mall complex, offering new opportunities for the group’s expansion and growth.
Sources By Agencies
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