Spice Island Industries executes agreement with Ladhu kara Charities

Spice Islands Industries has entered into a Hotel Lease & Operating Agreement with Ladhu Kara Charities (also known as Seth Ladhukara Charity Trust) on June 25, 2026, to take on lease and operate the hotel property known as ‘The Ocean Prime’, situated in Dwarka, Gujarat, including the hotel premises along with furniture, fixtures, fittings, equipment, and other assets forming part of the property.

The hotel property comprises 26 rooms along with restaurant facilities. The monthly lease rent is Rs 3 lakh subject to an annual escalation of 10%. A refundable security deposit of Rs 50 lakh is payable by the company. The company shall operate and manage the hotel in accordance with the terms of the agreement. The agreement shall commence on July 1, 2026 and shall remain valid for 11 months and 29 days, ending on June 30, 2027, unless terminated earlier in accordance with its terms.

The agreement has been executed to expand the company's hospitality business by leasing and operating a fully equipped hotel property, thereby strengthening its presence in the hospitality sector and creating additional revenue opportunities.

Spice Island Industries is a diversified enterprise with a growing presence across FMCG, Hospitality, and Sustainable Mobility.