Bhartiya Group to venture into resorts: Chairman Snehdeep Aggarwal

Residential, offices and resorts - three growth drivers over next 5 years, says group chairman

Bhartiya Group, one of India’s largest leather producers and exporters, is diversifying into resorts, which will function as a separate vertical under its hospitality arm, Founder and Chairman Snehdeep Aggarwal told Business Standard in an exclusive interaction.

 

The Gurugram-based group, which runs a 250-acre industrial park for leather goods near Chennai, has made Bengaluru the hub of its real estate ventures — ranging from information technology parks and residences under Nikoo Homes to hotels under the Leela Bhartiya City brand.

 

Resorts, Aggarwal said, will be a long-term play with a horizon of over five years, targeting a growing socio-economic segment of Indian travellers drawn to experiential stays.

 

“We’ll see many foreign travellers coming to India in the next decade and beyond. But more importantly, Indians will travel more as their incomes rise and they have more disposable income to spend on lifestyle experiences,” he said, adding that India currently doesn’t have enough resorts to meet the demand from this growing demographic.

 

“We’re building this as a separate vertical. We will build the resorts,” he said. Bhartiya Group owns one hotel in Bengaluru operated by The Leela Group called The Leela Bhartiya City Bengaluru. 

 

Aggarwal did not disclose the investment planned or the number of resorts under consideration but said India’s expanding base of over 20 million middle- to upper-income earners will increasingly spend on travel, experiences, and wellness.

 

“Our road infrastructure is now where China’s was when it began to scale up economically. Today, I can drive a few hours from Bengaluru to Kabini (a wildlife destination), but there are hardly any resorts or hotels there. That’s the opportunity we’re tapping into — resorts over city hotels,” he said.

 

The group also plans to expand its real estate footprint by adding more office space and growing its residential portfolio under Nikoo Homes. Aggarwal said Bhartiya Group will add 1.1 million square feet (msf) of office space to the 3 msf it already operates in Bhartiya City.

 

“In the next 15 months, we’ll launch five more Nikoo Homes projects around Bengaluru, outside Bhartiya City. This is the residential arm we’re scaling up,” he added.

 

Nikoo Homes offers apartments ranging from 500 square feet (sq. ft) to 3,500 sq. ft in highrises.