EIH Ltd shares rose nearly 2% on Monday after the Oberoi Group announced plans to develop two new luxury resorts in Rishikesh in partnership with The Ladhani Group.
The expansion will see an 80-key luxury Oberoi resort and a 120-key five-star Trident hotel, both managed by EIH Ltd. The luxury resort will carry the “Vilas” name and will be set on a 60-acre site surrounded by the Ganges on three sides.
The Oberoi resort will be owned and developed by Devprayag Ganges Resorts Private Ltd, while the Trident property will be owned and developed by Jamuna Hotel Enterprises Private Ltd—both entities of The Ladhani Group.
Opening marginally lower at ₹317.45 apiece on the BSE, EIH Ltd shares climbed 1.7% to an intraday high of ₹324.45 before trading 0.88% higher at ₹321.90 around 2:48 pm.
The Oberoi Group has commissioned renowned architect Bill Bensley to design the properties, ensuring a fusion of elegance, nature, and cultural richness.
The expansion is part of EIH’s broader growth strategy, which includes 16 new hotels, two luxury boats, and a Nile cruiser set for completion by 2029.
EIH recently posted its highest-ever Q3 financial performance, with consolidated revenue reaching ₹831 crore and profit after tax (PAT) rising 21% YoY to ₹279 crore, despite ‘The Oberoi Grand’ undergoing full restoration.
“Rishikesh holds immense cultural and natural significance, and we are committed to delivering world-class hospitality experiences. With Oberoi’s expertise and Bill Bensley’s visionary design, these resorts will set new benchmarks in luxury travel,” said S.N. Ladhani, Chairman of The Ladhani Group.
“These two resorts reflect our commitment to expanding in remarkable destinations. Partnering with The Ladhani Group, we will create a distinctive experience in Rishikesh, blending the unique setting with Bill Bensley’s design and Oberoi’s legendary hospitality,” said Arjun Oberoi, Executive Chairman of The Oberoi Group.
