The agreement, finalized on April 15, 2026, is with INGKA Centres India Private Ltd, part of the Ingka Group, which operates IKEA Retail, Ingka Centres, and Ingka Investments. This upcoming hotel will be developed as part of a mixed-use project at E-01, Sector-51, Noida, Gautambuddha Nagar, Uttar Pradesh.
The mixed-use development will include commercial, hospitality, office spaces, and various ancillary components. The agreement encompasses an estimated built-up area of 15,022 square meters dedicated to the hotel.
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According to the terms, the development will be carried out by the lessor within a designated timeline. SAMHI Skyline will take possession following the completion of the lessor’s responsibilities for hotel fit-outs and branding. The hotel will operate under an international brand to be confirmed later.
The transaction is structured as a long-term lease/sub-lease agreement. The rent payable by SAMHI Skyline will be a percentage of the net revenue generated from hotel operations, with precise terms outlined in the agreement. Additionally, the company will cover applicable ancillary service and utility charges.
The agreement is contingent upon meeting certain conditions, including obtaining necessary building approvals, after which the lease deed will be executed.
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There is no shareholding relationship between the parties, and the transaction does not classify as a related party transaction. The agreement does not include special rights, board nominations, or provisions related to capital structure.
Shares of Samhi Hotels Ltd closed at ₹160.30, reflecting an increase of ₹3.75, or 2.40%, on the BSE.
(Edited by : Jomy Jos Pullokaran)
