New Delhi, June 17 -- Himalia Prime Assets, an asset development and management platform backed by private equity firm Jupiter Capital, has acquired an eco-resort Our Native Village on the outskirts of Bengaluru near Hesaraghatta grasslands, the company said in a statement.
Himalia, which focuses on a diversified pool of real estate assets including residential, resorts, office and retail spaces, has forayed into Bengaluru's hospitality market with this buy, as part of its broader expansion plans.
The company did not disclose the price for which this asset was purchased.
Himalia believes this the asset will meaningfully strengthen the company's revenue topline and operating margins within a short timeframe, and will generate a strong yield on the investment.
Spread across 4.65 acres, Our Native Village Eco Resort currently comprises 24 keys on 3 acres, with an additional 1.65 acres land area available for future expansion. Over the next two years, Himalia Prime Assets plans to invest at least Rs 25 crore towards upgrading and enhancing the resort's offerings and operational capabilities, and aims to increase its inventory from 24 to 40 keys.
"We have always believed that the future of hospitality lies in experiences that bring people closer to nature, to local culture and foster a sense of genuine wellbeing. This acquisition marks a significant milestone in our expansion trajectory, and reflects our vision of building nature-led destinations that can deliver long-term value," said Vamsi Sai, chief executive officer, Himalia Prime Assets Private.
"Going ahead, we see tremendous opportunity in and around Bengaluru and the wider South Indian market, where we shall continue to expand aggressively in the near future," he added.
With the latest addition, Himalia's hospitality portfolio now spans three resort properties including a 31-key resort in Kovalam and a 27-key resort in Kumarakom, Kerala. The company's upcoming expansion roadmap includes wellness resorts, branded residences, farmhouses, plotted developments and exclusive clubs.
Himalia Prime Assets Private Limited, incorporated in 1986, operates as a subsidiary under Jupiter Capital, and focusses on acquiring, developing and operating premium resorts and branded residences, among other types of high-end real estate across India.
The company specialises in hospitality, commercial real estate and business parks.
Published by HT Digital Content Services with permission from VC Circle.