SAMHI Hotels spurts after MIDC approves extension for Navi Mumbai project

SAMHI Hotels rose 4.71% to Rs 207.90 after the company received confirmation from MIDC for an extension to develop its dual-branded hotel project in the Mumbai Metropolitan Region.

The hospitality firm said the project, located near the Navi Mumbai International Airport and DY Patil Stadium, will feature around 700 rooms across two globally recognized brands Westin (Upper Upscale) and Fairfield by Marriott (Upper Mid-scale) subject to the execution of definitive agreements. Phase 1 of the project, comprising approximately 400 rooms, will be developed first.

According to SAMHI, the MIDCs extension clears the path to begin development of what will be the companys largest hotel asset by number of rooms, marking its entry into the Mumbai Metropolitan Region and reinforcing its strategy to scale through high-quality, demand-accretive assets in key gateway markets.

Commenting on the development, Ashish Jakhanwala, chairman and managing director of SAMHI Hotels, said, We are delighted to receive MIDCs confirmation, which unlocks a transformational opportunity for SAMHI in the Mumbai Metropolitan Region. This marquee development positions us to capture the diverse demand segments around the Navi Mumbai International Airport and DY Patil Stadium corridor.

The project is strategically located along the Mumbai-Pune Expressway, with connectivity to major infrastructure projects including the Atal Setu Trans-Harbour Link, making it an attractive hospitality destination catering to business, aviation, MICE, and leisure demand.

SAMHI currently operates 31 hotels with a portfolio of 4,862 rooms across 13 cities in India, under management partnerships with global hotel operators such as Marriott, IHG, and Hyatt.

The company said the project aligns with the commercial expansion of Navi Mumbai and is expected to significantly enhance SAMHIs scale and brand presence in Indias largest hospitality market.

The company's board will consider Q2FY26 results today, 28 October 2025.

On a consolidated basis, net profit of Samhi Hotels surged 308.51% to Rs 17.28 crore while net sales rose 8.93% to Rs 272.21 crore in Q1 June 2025 over Q1 June 2024.

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