Oberoi Realty has taken a significant step forward in expanding its portfolio in the hospitality and real estate segment, with its consortium being confirmed as the successful resolution applicant for Hotel Horizon Pvt Ltd (HHPL). The Committee of Creditors (CoC) approved the ₹919 crore resolution plan submitted by a consortium comprising Oberoi Realty, Shree Naman Developers, and JM Financial Properties and Holdings. A Letter of Intent (LOI) has now been issued by the Resolution Professional on July 14, solidifying the group’s position in the distressed asset acquisition.
The resolution plan entails a total payout of ₹919 crore, in addition to any statutory dues, to settle outstanding claims and unpaid Corporate Insolvency Resolution Process (CIRP) costs. The amount will be payable within 45 days from the date of approval by the Mumbai Bench of the National Company Law Tribunal (NCLT), as per the regulatory disclosure filed by Oberoi Realty.
According to the statement, the resolution plan stipulates that “the payment of ₹919 crore (along with any additional amounts as required under applicable laws) is to be made to various creditors in full and final settlement of all outstanding claims against HHPL, including CIRP-related liabilities, on a date no later than 45 days from NCLT approval.”
HHPL owns a land parcel measuring approximately 7,500 square metres in Juhu, Mumbai—an area known for its high real estate value and beachfront views of the Arabian Sea. This strategic location adds considerable value to the asset. The acquisition will be carried out either directly by the consortium or through a dedicated special purpose vehicle (SPV) created for the transaction.
The ownership structure post-acquisition will involve the issuance of ₹1 crore worth of fresh equity shares to the consortium or SPV. This will confer 100% ownership of Hotel Horizon Private Limited to the acquiring entity, enabling complete operational and financial control.
The resolution bid is part of a broader trend in the real estate and asset management sectors, where prominent developers and institutional players are leveraging insolvency proceedings under the Insolvency and Bankruptcy Code (IBC) to acquire distressed but strategically located assets. This deal marks a notable entry into high-potential hospitality real estate for the Oberoi Realty-led consortium.
In terms of market impact, Oberoi Realty shares showed a positive response to the announcement, trading 1.08% higher at ₹1,824.00 on the BSE as of 10:30 AM on July 15. The uptick reflects investor optimism surrounding the acquisition and its potential for high-value redevelopment or luxury hospitality operations.
The consortium’s acquisition plan aligns with Oberoi Realty’s ongoing strategy to diversify its real estate investments beyond residential and commercial projects into hospitality and mixed-use developments. The involvement of Shree Naman Developers and JM Financial Properties also underscores the increasing role of financial institutions and alternative asset managers in real estate resolution processes.
In recent years, Mumbai has seen several high-value distressed assets being revived through resolution plans approved under the IBC framework. These acquisitions not only help in unlocking the potential of stalled or underutilized assets but also contribute to capital recycling and cleaner balance sheets across the sector.
From a creditor standpoint, the ₹919 crore plan provides an assured settlement of dues in a time-bound manner. The plan’s implementation within 45 days post-NCLT approval will be closely watched, especially given the location’s prime valuation and redevelopment potential.
Hotel Horizon’s land bank in Juhu could be developed either into a luxury hotel or a mixed-use project, depending on approvals, feasibility, and market conditions. With beachfront properties in Mumbai remaining in high demand, the asset holds strategic importance for any hospitality or luxury residential offering.
The acquisition also adds to the momentum in real estate M&A activity, following recent developments such as Adani Group’s acquisition of the Dharavi redevelopment project and other urban renewal initiatives. Analysts note that such transactions signal increased institutional interest in distressed real estate that can be revitalised through capital infusion, operational turnaround, and rebranding.
As the resolution process enters its final phase with the NCLT's approval awaited, the deal marks another instance where collaboration between real estate developers and financial partners has enabled successful asset resolution. The long-term value realisation from this acquisition will depend on the development roadmap, brand positioning, and market timing of the consortium’s proposed asset use.
For now, the LOI cements Oberoi Realty and its partners’ strategic move into a landmark location, providing them with a potential asset that can cater to the high-end hospitality or luxury housing segments in Mumbai’s saturated real estate market.
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