Bharat Agri Fert & Realty Ltd. has revealed plans to invest Rs 85 crore in expanding its resort located in Kharivali Village, Palghar District, Maharashtra. The expansion is part of the company’s strategic vision to position the ANCHAVIYO Resort as a premier venue for destination weddings and corporate events, in alignment with the Government of India’s ‘Wed in India’ initiative.
The proposed expansion will involve adding 130 new rooms across various categories to the resort, which currently has 80 rooms. This expansion is expected to boost the resort’s ability to host larger events, especially weddings, corporate functions, and other high-profile gatherings. The overall project is set to be completed by March 2026, with the additional rooms expected to significantly increase the resort’s capacity. To fund this expansion, Bharat Agri Fert & Realty has secured a loan of Rs 25 crore from NKGSB Bank. Additionally, the company is expecting another Rs 32.5 crore in funding from other banking partners, ensuring a solid financial base for the project. The expansion is expected to contribute significantly to the company’s growth. Bharat Agri Fert & Realty anticipates that its annual revenue will reach Rs 111 crore by FY 2026-27, assuming an occupancy rate of around 65-75%. This projection reflects the strong potential for growth in the hospitality sector, particularly with the growing popularity of destination weddings in India.
The ‘Wed in India’ initiative, launched by the Government of India, provides various fiscal and non-fiscal incentives to support the development of wedding tourism in India. These include capital subsidies, reduced energy tariffs, GST reimbursements, and interest subsidies on term loans. These incentives will help to enhance the financial viability of the resort’s expansion project. The expansion of ANCHAVIYO Resort in Palghar is a strategic move to tap into the growing demand for high-end venues for weddings and corporate events. With the financial backing and the government’s support, Bharat Agri Fert & Realty aims to position its resort as a top choice for both domestic and international clients looking for luxurious and versatile event spaces. This investment aligns with the company’s broader focus on growth within the real estate, fertiliser, and hospitality sectors, contributing to its continued expansion and success in a competitive market.
