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Taj parent expands partnership with Ambuja Neotia Group for 15 new hotels
These 15 new sites will be a combination of greenfield, brownfield, and conversion projects, and are spread across the states of West Bengal, Sikkim, and Himachal Pradesh. The projects are expected to be completed in the next three to seven years.
This capital-light arrangement will grow the partnership between the groups to over 40 hotels. To be sure, in November, IHCL had acquired a majority stake in the Ambuja Neotia Group's Rajscape Hotels, which manages the Tree of Life Hotels and Resorts brand.
The two groups currently operate 24 hotels, with four more—including a Taj Ganga Kutir Resort & Spa in Raichak and a Tree of Life in Sirmaur, Naldehra, and Shivpuri—expected to be operational within the next year.
The 15 new properties include a Taj resort in Sunderban, Darjeeling, Shimla, and Rabong, SeleQtions hotels in Kolkata and Siliguri, and a Tree of Life in Lataguri. Of these, four are currently under construction and will be built over the next three years.
A few select projects will also feature Taj-branded villas in Darjeeling, Sikkim, Lataguri, and Raichak.
"We are present in most of the geographies, but there is an undersupply in the north-east. While we continue to remain strong there, we want to grow to a 25-hotel portfolio in the region and will reach 30 hotels by 2030. We are delighted to extend our partnership with the Ambuja Neotia Group, known for their luxury hospitality developments showcasing the spirit of this region," said Puneet Chhatwal, managing director and chief executive officer at IHCL.

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Time of India
18 minutes ago
- Time of India
BGO and Aditya Birla Sun Life AMC invest ₹350 crore in Namo Realtech to fuel real estate expansion
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Business Standard
34 minutes ago
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Time of India
2 hours ago
- Time of India
Rs 1 lakh to Rs 20 lakh in 5 years! Force Motors shares deliver jackpot returns with zero analyst coverage
Live Events 3 Pillars of Force Motors' Success Premium OEM Partnerships Future Growth Drivers Is Force Motors Stock Too Expensive? Key Risks to Monitor Long-Term Structural Story (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel A little-known smallcap stock with no analyst coverage, barely 1% mutual fund holding, and next to no investor outreach has silently turned into a 20-bagger. Shares of Pune-based Force Motors , best known for its sturdy Travellers , rugged Gurkhas, and engine assembly lines for BMW and Mercedes-Benz , have surged a mind-bending 1,868% over five years, transforming a ₹1 lakh investment into a near-₹20 lakh company's exit from low-margin tractors and strategic thrust on original equipment manufacturing ( OEM ) for luxury marques like BMW and Mercedes-Benz mark a decisive pivot toward higher-quality earnings. In just the past year, the stock is up 117%, fueled by rising demand in shared mobility and last-mile delivery Global's Aakanksha Chopra points out that the stock's re-rating has been backed by a sharp operational turnaround, strategic realignment of its business model, and disciplined capital transformation is evident in the numbers. From FY22 to FY25, revenue surged from ₹3,240 crore to ₹8,072 crore, representing nearly 2.5x growth. "Net profit swung from losses to over ₹800 crore, driven by operating leverage, a premium product mix, and strong execution," Chopra noted. "EBITDA margins expanded to 14%, and ROCE improved to approximately 25%, highlighting a high-quality earnings profile."The momentum shows no signs of abating. In Q1 FY26 alone, Force Motors reported a 22% year-on-year rise in consolidated revenue to ₹2,297 crore, according to Kalp Jain, Research Analyst at INVasset PMS. "Operating performance was even stronger — EBITDA jumped 33% to ₹332 crore, pushing margins to 14.4%. Net profit surged 52% YoY to ₹176 crore."Sunny Agrawal, Head - Fundamental Research at SBI Securities , highlights the operational drivers: "26% volume growth in the UV segment in 1QFY26 for Force Motors. Sales/EBITDA/PAT up by 22%/32%/52% YoY to Rs 2297/323/176 cr."The strong performance stems from "strong response to the Urbania utility vehicle which has emerged as a leading choice for employee transportation and short haul tourist travel along with the Traveller," Agrawal Jonagadla, smallcase Manager and Founder of Quantace Research, identifies three key drivers behind Force Motors' 20-bagger run: "A structural step-up in profitability — Q1 FY26 net profit leapt 52% YoY to ₹176 cr on a 14.4% EBITDA margin, the fourth straight quarter above 14%."The second pillar is order visibility. "A 2,978-unit Gurkha contract for the Indian defence forces secures c. ₹1,000 cr revenue over FY26-27," Jonagadla noted. Agrawal confirms: "Company won an order from Defence Ministry for supplying 2,978 Gurkha vehicles in Mar'25."The third pillar involves "sticky, high-margin engine outsourcing for Mercedes-Benz and BMW, underscored by the 100,000-th BMW powertrain rolled out in June 2025," according to company's transformation from a traditional commercial vehicle player to a sophisticated OEM partner has been remarkable. "The company's premium engine assembly partnership with BMW and Mercedes-Benz has scaled meaningfully and now contributes a significant share of revenue with higher realizations," Chopra elaborates on this strategic shift: "Once seen as a modest player in the light commercial vehicle segment, Force Motors has reinvented itself. It now operates across multi-utility vans, niche off-roaders like the Gurkha, and most critically, supplies engines and axles to marquee global OEMs such as Mercedes-Benz and BMW through dedicated manufacturing facilities."In FY25, Force Motors clocked ₹8,128 crore in revenue and ₹800 crore in net profit, doubling its bottom line from the previous year. Its return on equity (RoE) stood at 25.6%, while return on capital employed (RoCE) hovered around 25%, both signaling a capital-efficient business built for longevity, analysts balance sheet strength is equally impressive. "A leaner balance sheet with a debt-to-equity ratio under 0.3x now provides ample headroom for growth investments," Chopra noted. Jain adds: "The company is net debt-free, with a strong liquidity position and prudent working capital management."Looking ahead, the company is positioning itself for emerging opportunities. "Force Motors has begun investing in next-generation EV platforms in the LCV segment, offering strategic optionality in a decarbonizing auto landscape," Chopra sees additional upside potential: "Upside may come from scaling Urbania exports, electrified last-mile vans and the Rolls-Royce JV genset opportunity—segments where consensus models still embed conservative volumes."However, the spectacular run has pushed valuations to demanding levels. "The stock trades at 31.0x FY26E P/E, which appears to be fair valued and one round rerating is completed," cautioned Agrawal from SBI echoes the valuation concern: "At ~29 × trailing earnings, the market is pricing uninterrupted double-digit margins and 25%+ ROCE continuity."Jain takes a measured view: "The company currently trades at a P/E of ~26x trailing earnings — a valuation that assumes continued momentum. Sustaining margins amid rising input costs, managing export volatility, and ensuring consistent order flow from OEMs will be critical in validating this premium."Despite the impressive trajectory, analysts identify several risks. Jonagadla warns of "lumpy defence delivery and cost overruns; OEM partners potentially in-housing engines as they electrify; fragile exports—shipments fell 78% YoY in March–April 2025 even as domestic CV sales rose; and cash-flow drag from the ambitious EV capex."Agrawal points to information constraints: "As much information is not available (due to lack of any investor deck, mgmt interaction, concall etc), going forward, the street will keenly track monthly sales volume to understand the growth trajectory of the company."Despite near-term risks, analysts remain constructive on the long-term outlook. "While the stock's sharp re-rating now embeds elevated expectations, long-term earnings visibility remains intact," Chopra said. "Consensus estimates indicate an EPS CAGR of 25 to 30 percent over FY24 to FY27."Jain concludes: "Force Motors exemplifies what a silent compounder looks like before it captures the limelight. The company has quietly stitched together a compelling narrative — one of operational transformation, financial discipline, and market trust. For long-term investors, this is no longer a forgotten name from the commercial vehicle sector — it's a blueprint for India's next-generation manufacturing success."As Force Motors continues its remarkable journey from an overlooked smallcap to a multi-bagger phenomenon, the key question remains whether the company can sustain its operational excellence while justifying the premium valuations that its success story has commanded.: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)