Madhumita Mookerji

Kolkata: Real estate firm Shristi Infrastructure, which had set up a joint venture hotel management company, Domina India, with Milan-based Domina Hotel Group last year, all set to introduce three sub-brands under the umbrella Vedic label in India.

About Rs 2,400 crore will be invested over five years to set up about 35-50 properties. These will be the two-star Vedic Inn, a mid-scale Vedic Domina and five-to-seven star resorts — Vedic Resorts and Palaces. The partners will have equal share in the investment.

All models — joint ventures in Goa, space sharing and management contracts — will be explored.

Domina will also set up a special purpose vehicle to offload equity to private equity funds, and part-fund its hospitality venture.

Plans are afoot to take the Vedic brand overseas in the next two-anda-half years. Sujit Kanoria, managing director, Shristi, told DNA Money, “First we want to perfect the Vedic brand and then decide which sub-brand can be taken overseas."

Source : DNA