Spectrum Foods, through its subsidiary Siyana Resorts, has completed the acquisition of a free-hold, contiguous land parcel ad-measuring around 4,100 square yards situated at Tehsil Pushkar, District Ajmer, Rajasthan. The site enjoys panoramic views of the Aravali range and offers convenient access to Pushkar city and ghats.
The consideration has been settled entirely from internal accruals and existing cash balances; no external borrowing or equity dilution has been undertaken for this transaction. The company proposes to develop a boutique villa enclave on the aforesaid parcel, strengthening its luxury leisure portfolio in Rajasthan. This acquisition is separate from the company’s ongoing flagship 185-room five-star resort in Pushkar, which is in the final stages of construction and is expected to open shortly.
Spectrum Foods provides import and export services. The company was formerly known as Spectrum Leasing and Finance and is based in Jaipur, India.
