Arihant Superstructures Expands Into Hospitality With 227-Room ITC Hotels Project In Chowk, Mumbai 3.0
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Arihant Superstructures will develop a 227-room luxury hotel with Mementos by ITC Hotels in Chowk, Mumbai 3.0, with construction expected to take about three years.
Arihant Superstructures Ltd has signed an agreement with ITC Hotels to develop a 227-room luxury hotel in Chowk, Mumbai 3.0, as part of its World Villas project, the real estate developer said in a press release.
The agreement was formalised on 24 September 2026. The hotel will operate under the ‘Mementos by ITC Hotels’ brand and will include 44 suites. The company said the property will also have the largest banqueting facility in the city.
The project comes as Arihant expands its presence beyond residential real estate into hospitality. The company said the hotel will cater to leisure travellers, destination weddings and meetings, incentives, conferences and exhibitions (MICE). At 12:53 pm, Arihant Superstructures shares were up 0.80% on the National Stock Exchange of India (NSE).
World Villas Project Spans 90 Acres
The World Villas development covers 90 acres and is planned as a master-planned residential and lifestyle project in Chowk. A 10-acre parcel has been earmarked for the Mementos by ITC Hotels property. Arihant expects the construction and development phase to take around three years.
The company said the project is being developed to serve demand for premium leisure destinations in the Chowk region, which it describes as an emerging tourism and hospitality market. The hospitality component is also expected to add a recurring income stream to the project once the hotel becomes operational.
Hotel Revenue Seen At ₹150–200 Crore Annually
Arihant said the hotel is expected to reach functional maturity within two years of starting operations. At that stage, the company estimates annual revenue of ₹150–200 crore or more, with an operating margin of 45%.
The developer expects the partnership to support the overall valuation of the World Villas project while creating a long-term annuity income model through the hotel. The company did not disclose the investment planned for the hospitality project in the announcement.
Nineteen Projects Under Development
Arihant Superstructures currently has 19 projects under development, covering 21 million sq ft, according to the company. These projects comprise more than 15,000 units and have an estimated revenue potential of over ₹14,000 crore.
The developer has completed 12.7 million sq ft across 67 projects, covering 14,200 units. Its portfolio spans 12 micro-markets across the Mumbai Metropolitan Region and Jodhpur. These include Panvel, Kharghar, Vashi, Kalyan, Titwala, Karjat, Chowk, Khopoli, Taloja, Thane, Badlapur and Shilphata.
Arihant has projects across the luxury, mid-income and affordable housing segments. It is also expanding into hospitality and sports infrastructure as part of its broader development portfolio.
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
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