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Protein Pantry raises ₹9 Cr led by Sharrp Ventures to scale India’s first high-protein frozen food brand

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Disha Bhattacharya and Prashanth Bhushan, co-founders, Protein Pantry

National, 22nd September 2026: Protein Pantry, India’s first high-protein frozen food brand, today announced the closing of a ₹9 crore seed round. The round was led by Sharrp Ventures, with participation from Peercheque, Consumer Collective by Atrium and Indian Silicon Valley Capital, alongside angels including Varun Alagh (Honasa), Rishubh Satiya (Plix), Avnish Anand (CaratLane), Arush Chopra (Just Herbs), Saurabh Munjal (Lahori Zeera), Signal Ventures and others.

Protein Pantry is building a high-protein, vegetarian frozen food brand rooted in Indian ingredients. The capital will primarily be deployed into setting up and scaling the brand’s manufacturing unit, alongside continued investment in R&D and supply chain. The balance goes into marketing and working capital. Protein Pantry is also extending its ranges with new formats. Over the next 12 to 24 months, the company is targeting availability across all major Indian cities via D2C and quick commerce and continued expansion of its protein range across categories.

Since launching in November 2025, Protein Pantry has gone live direct-to-consumer across Delhi, Mumbai, Bengaluru, and Jaipur, and on quick commerce via Blinkit, FirstClub, and Flipkart Minutes across Delhi, Mumbai, Bengaluru, and Hyderabad. The brand has served over 30,000 households with a strong repeat rate and will enter Pune, Kolkata, Lucknow, Chandigarh, Ludhiana, and Chennai on quick commerce by the end of the year.

Commenting on the development, Disha Bhattacharya, Co-founder at Protein Pantry said, “We started Protein Pantry to move protein beyond the supplements aisle and into everyday Indian meals, with options that are vegetarian and have fewer calories. That rests on owning our manufacturing end-to-end. It gives us full control over our recipes and macros and lets us hold our pricing as commodity costs climb across the protein market. This round lets us scale that capacity and our supply chain so we can build more ready-to-cook options and take the range into far more cities.”

Divya Gupta, Principal, Sharrp Ventures, said, “Over the next decade, we believe some of India’s most valuable food brands will be built at the intersection of nutrition, convenience, and taste. Rising protein awareness is reshaping consumer preferences, while quick commerce and improving cold-chain infrastructure are making frozen food more accessible than ever before. Consumers want more protein in their diets, but adoption is easiest when it comes through foods they already know and enjoy. Protein Pantry is doing exactly that by reimagining familiar foods in a high-protein format. What stood out to us equally was the founding team: Disha’s culinary expertise and deep understanding of consumer tastes, combined with Prashanth’s operational and product mindset, gives the company a strong foundation to build an enduring Indian food brand.”

The brand thus addresses a key gap in the protein market, which is built around supplements and snacks rather than everyday food, particularly for vegetarian consumers. Their range of soya chaap, kebabs, cutlets, and falafels is baked rather than fried and made without refined flour, preservatives, or palm oil, with marinades, sauces, and the chaap base produced in-house at the company’s own facility.

About Protein Pantry

Protein Pantry is a Delhi-based clean-label frozen food brand building high-protein, ready-to-cook products for the Indian kitchen. Founded by Disha Bhattacharya and Prashanth Bhushan, its range is made exclusively from kitchen-shelf ingredients, with no refined flour, no preservatives, and no palm oil, formulated to a 1:10 protein-to-calorie ratio and manufactured entirely in-house. Protein Pantry is available direct-to-consumer across Delhi, Mumbai, Bengaluru, and Jaipur, and on quick commerce across Delhi, Mumbai, Bengaluru, and Hyderabad.

https://proteinpantry.in/

The Ritz-Carlton, Pune Receives ONE MICHELIN KEY in the MICHELIN Guide 2026 Hotel Selection

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Pune, 21 September 2026: Some milestones are measured by a moment. Others are built through a journey. The Ritz-Carlton, Pune, part of Ventive Hospitality’s luxury hospitality portfolio, has been awarded One MICHELIN Key in the MICHELIN Guide 2026 Hotel Selection, announced on 18 September 2026. The distinction marks a significant milestone for the hotel and recognizes its continued commitment to exceptional service, thoughtful hospitality, and memorable guest experiences.

The recognition follows a period of deliberate evolution and sustained pursuit of excellence. In July 2026, The Ritz-Carlton, Pune, was included in the MICHELIN Guide’s curated hotel selection, marking an important moment for the hotel. Proactive engagement and the introduction of The Ritz-Carlton, Pune to MICHELIN led to its recognition within the Guide’s global hotel ecosystem.

The recognition reflects the hotel’s distinctive character, attentive service, and attention to detail. From the way guests are welcomed and cared for to the expression of the hotel’s sense of place, its Ladies and Gentlemen consistently bring the brand’s Gold Standards to life. The One MICHELIN Key is a meaningful affirmation of the hotel’s commitment to exceptional service, thoughtful design, and gracious hospitality.

Ishwinder Gill, General Manager, The Ritz-Carlton, Pune, said:

“Receiving One MICHELIN Key is an incredibly proud moment for all of us at The Ritz-Carlton, Pune. The credit for this recognition truly belongs to our Ladies and Gentlemen, whose passion, dedication, and commitment to excellence shape the guest experience every day.

What makes this recognition particularly special is the journey behind it, our constant pursuit of excellence, our willingness to evolve, and, most importantly, the spirit of our people. At the heart of The Ritz-Carlton, Pune, is a culture of empowerment, pride, and genuine hospitality, where our Ladies and Gentlemen are encouraged to take ownership, anticipate our guests’ needs, and create meaningful moments. It is this culture, lived consistently across every touchpoint, that transforms service into an experience and a stay into a lasting memory.”

For Ventive Hospitality, which owns and operates a portfolio of luxury hospitality assets, the recognition is also a reflection of its long-term approach to creating differentiated hospitality experiences.

Ranjit Batra, Chief Executive Officer, Ventive Hospitality, said:

“A MICHELIN Key is a significant recognition for The Ritz-Carlton, Pune, and a proud milestone for Ventive Hospitality. It reflects the strength of the hotel, the commitment of our teams and partners, and the consistency with which exceptional hospitality is delivered. This recognition reinforces our focus on building distinctive hospitality assets that create enduring value and memorable guest experiences.”

The recognition reflects The Ritz-Carlton, Pune’s continued commitment to creating distinctive, deeply personal, and memorable stays, while building on its presence within the MICHELIN Guide.

One Key. A milestone in luxury hospitality. A celebration of the experiences created together.

For more information on Michelin Guide, please visit the website here: Find your hotel in India – Book with The MICHELIN Guide.

The Ritz-Carlton, Pune, is a part of Ventive Hospitality Limited’s portfolio, which comprises a collection of distinctive hospitality assets across India and the Maldives.

About The Ritz-Carlton Hotel Company, LLC

Delivering the Gold Standard in service in coveted destinations around the world, The Ritz-Carlton Hotel Company, LLC currently operates more than 125 hotels in 37 countries and territories. From iconic urban destinations to stretches of paradise in untouched corners of the earth, The Ritz-Carlton offers the opportunity for true discovery and transformative escapes that stay with guests long after they depart. Committed to thoughtful innovation, The Ritz-Carlton encompasses two groundbreaking brand extensions, Ritz-Carlton Reserve and The Ritz-Carlton Yacht Collection.

Ritz-Carlton Reserve is a collection of rare estates set apart from the world, where personalized care and cultural immersion are paramount. The Ritz-Carlton Yacht Collection translates the brand’s legendary service and hospitality for sea, reimagining the ultra-luxury cruising category. For more information or reservations, visit the company website at www.ritzcarlton.com, for the latest company updates, visit news.marriott.com and to join the live conversation, use #RCMemories and follow along on Facebook, X, and Instagram. The Ritz-Carlton Hotel Company, L.L.C. is a wholly-owned subsidiary of Marriott International, Inc. (NASDAQ:MAR).

The Ritz-Carlton is proud to participate in Marriott Bonvoy®, the global travel program from Marriott International. The program offers members an extraordinary portfolio of global brands, exclusive experiences on Marriott Bonvoy Moments and unparalleled benefits, including complimentary nights and Elite status recognition. To enroll for free or for more information about the program, visit marriottbonvoy.com. The Ritz-Carlton is committed to supporting the destinations where it operates through Community Footprints, the company’s social and environmental responsibility program.

Singapore Airlines’ KrisFlyer Unlocks Exclusive Luxury Stays with SaffronStays

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Mumbai, India, 2026 – In a move that reflects the evolving nature of luxury travel, SaffronStays, India’s leading luxury villa rental brand, has partnered with KrisFlyer, the global rewards programme of Singapore Airlines, to introduce exclusive stay privileges for KrisFlyer members across India.

Through this collaboration, KrisFlyer members gain access to a curated portfolio of SaffronStays’ Signature homes and ultra-luxury X-Series villas, while also being rewarded with KrisFlyer miles on their stays, with members able to earn up to 4,500 miles on extended stays.

Where Global Travel Meets Private Luxury

As travellers increasingly seek more private, immersive, and design-led experiences, luxury is no longer confined to flights and hotels. It now extends to how and where one chooses to stay.

In India, this shift is becoming more pronounced, with a growing preference for private villas and longer, group-led stays, particularly among high-value travellers seeking space, privacy, and personalised experiences.

This partnership brings KrisFlyer members closer to India’s most sought-after villa destinations, from hillside homes overlooking valleys to expansive coastal estates designed for celebrations, slow living, and meaningful time with loved ones.

Expanding the World of Travel Rewards

For KrisFlyer, this collaboration represents a continued evolution of its rewards ecosystem, extending beyond air travel into premium lifestyle and hospitality experiences.

For SaffronStays, the partnership opens access to a global community of discerning travellers, at a time when the brand is witnessing strong growth in demand for luxury villa stays and longer-duration bookings across its portfolio.

Devendra Parulekar, Founder, SaffronStays, said, “We are seeing a clear shift in how luxury travel is being defined today, with more travellers choosing private villas for the space, privacy, and flexibility they offer, especially for longer stays and group experiences. This partnership with KrisFlyer allows us to bring these distinctive stay experiences to a global audience while offering their members exclusive access to some of India’s most sought-after homes.”

About SaffronStays:

Founded in 2015 by Tejas Parulekar and Devendra Parulekar, SaffronStays is India’s leading network of fully-staffed, professionally managed private vacation homes. Headquartered in Mumbai, the company curates a portfolio of 450+ handpicked villas, heritage homes, estates, and retreats across 80+ destinations in India, including Maharashtra, Goa, Himachal Pradesh, Uttarakhand, Jammu & Kashmir, Karnataka, Kerala, Rajasthan, and Delhi NCR.

Built on the belief that travel is centered around meaningful time with loved ones, SaffronStays creates stays designed for family holidays, milestone celebrations, reunions, intimate weddings, and corporate offsites. Each home combines the warmth and privacy of a personal residence with the consistency and service standards of professional hospitality.

The company also partners with homeowners to unlock the value of their second homes through end-to-end hospitality management, making it one of India’s earliest and most recognised brands in the managed villa category.

Backed by Sixth Sense Ventures and Infinity Ventures, SaffronStays has emerged as one of India’s most trusted hospitality brands in the private stays space and has been featured in publications including Condé Nast Traveller, Forbes India, Architectural Digest, and The Economic Times, among others.

For more information, visit www.saffronstays.com

About KrisFlyer

KrisFlyer, the lifestyle rewards programme of the Singapore Airlines (SIA) Group, has over 11.8 million members who benefit from wide-ranging accrual and redemption opportunities both on the ground and in the air. Members can earn miles from everyday spending with more than 1,800 non-airline brands with over 3,300 outlets in Singapore and around the world. KrisFlyer members may also earn or redeem miles with award-winning e-commerce arm KrisShop and enjoy a broad range of shopping, dining, and wellness experiences with partners on Kris+, the SIA Group’s rewards and lifestyle mobile app, and when they book activities in Singapore and selected countries on Pelago, SIA’s travel experiences platform. Members can also earn and redeem miles on their flights on Singapore Airlines, Scoot, Star Alliance member airlines, and SIA partner carriers.

Definedge raises ₹22-Cr in funding round to scale fintech platform

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Prashant Shah and Rajesh Badiye, co-founders, Definedge

Fintech and brokerage startup Definedge has raised ₹22 crore in a pre-Series A funding round, taking its total capital raised to ₹30 crore. The latest round includes continued participation from existing investors Nitin Agarwal and D. Prasad, along with new investors Anant Jain and Sachin Kasera.

Definedge previously secured its first institutional and angel investment in November last year. Industry veterans Hemant Luthra, Ajay Srivastava, D. Prasad, Nitin Agarwal, and Madhusudan N. Sarda led that round.

The startup will use the latest funding to strengthen its technology infrastructure and enhance low-latency execution capabilities. Additionally, Definedge plans to scale its flagship trading platforms, Zone and Opstra, while transforming Algostra into a no-code retail algo-trading platform for Indian investors.

Furthermore, the company plans to expand Momentify from a systematic investing tool into a broader wealth-creation platform, according to a press release. The move will allow Definedge to broaden its wealth-tech offering and cater to a wider base of retail investors.

Founded in 2021 by Prashant Shah and Rajesh Badiye, Definedge operates a full-stack wealth-tech ecosystem with more than 14 platforms. Its product portfolio includes Opstra, Zone, Algostra, Momentify, and Gurukul, covering trading, investing, research, and financial education for retail traders and investors.

Meanwhile, Momentify has already crossed ₹1,000 crore in assets under management (AUM). Definedge aims to increase the platform’s AUM to ₹5,000 crore over the next 24 months.

The company also plans to expand its Gurukul learning ecosystem to provide greater support to retail market participants. In addition, Definedge will continue investing in technology, customer service, and operational infrastructure as it expands its customer base.

The startup is also focusing on the adoption of AI-powered platforms such as Momentify and Algostra. These products aim to help users follow a more systematic approach to trading and investing.

Definedge said its user base has increased 125 percent over the past 14 months and has grown 10 times over the last 36 months. The company plans to build on this growth by expanding its technology and product ecosystem.

Meanwhile, Definedge’s latest funding comes as India’s fintech sector continues to attract investor interest. Indian fintech startups raised approximately $2 billion across 106 funding rounds during the first half of 2026, marking a 42 percent increase from the same period a year earlier.

The brokerage and wealth-tech segment features established platforms such as Groww, Zerodha, Angel One, Upstox, and Dhan. At the same time, newer platforms, including Sahi, Trackk, and Zomint, are targeting younger and first-time investors with trading, analytics, and wealth-management solutions.

Sahi raised $33 million during the year, while Trackk and Zomint entered funding discussions. Meanwhile, Navi secured $100 million from Prosus in its first institutional funding round, while wealth-management platform Centricity raised $27 million during the same month.

The sector is also expanding beyond Indian equities. Groww, Zerodha, Angel One, and Upstox have received approvals from the International Financial Services Centres Authority (IFSCA) to facilitate international equity investments through GIFT City.

With the latest funding, Definedge plans to accelerate its technology and product development while expanding the adoption of its trading, investing, and wealth-management platforms among retail market participants.

Gulshan Group partners with Ourika Estates for ₹750-Crore projects

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Gulshan Group has partnered with Ourika Estates to develop two premium residential projects in Ghaziabad and Lucknow, marking the groups’ expansion into key North Indian real estate markets.

Ourika Estates acquired an 8,750 sq. mtr. land parcel in Madhuban Bapudham, Ghaziabad, from the Ghaziabad Development Authority (GDA) through an auction for ₹75 crore. The second parcel spans approximately 10,328 sq. mtr. in Gomti Nagar Extension, Lucknow, and was acquired from the Lucknow Development Authority (LDA) through an auction for ₹120 crore.

“As North India’s growth corridors evolve, we see a significant opportunity to take this philosophy into new markets,” said Gulshan Nagpal, Promoter, Gulshan Group.

Together, the two projects will create approximately 1.50 million sq. ft. of premium residential space. Through the partnership, Gulshan Group and Ourika Estates aim to bring high-quality residential developments to strategically located urban markets.

“With these two strategically located developments in Ghaziabad and Lucknow, we are extending the Gulshan philosophy of quality, design, and elevated living into new markets,” said Deepak Kapoor, Promoter Gulshan Group.

Furthermore, the development platform plans to invest more than ₹750 crore across the two projects over their development lifecycle. The investment will support the development of premium residential communities across the two locations.

“We are targeting high-potential locations to build world-class apartments that set a new paradigm for premium urban living,” said Prasoon Chauhan, Director, Ourika Estates.

Meanwhile, Ghaziabad and Lucknow will serve as the first phase of the partnership’s North India expansion. Going forward, the platform plans to evaluate additional strategic opportunities across the region, particularly in markets where improving infrastructure and changing consumer preferences are driving demand for premium housing.

Skillmatics in talks to raise ₹700-Cr in fresh funding round

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Dhvanil Sheth & Devanshi Kejriwal, Co-founders, Skillmatics

Skillmatics, a startup that develops educational games and toys for children, is in advanced discussions to raise around ₹600-700 crore ($60-75 million) in a fresh funding round, according to five people familiar with the development.

Premji Invest, ChrysCapital, and A91 Partners are among the investors currently in talks to participate in the round, the people added. Meanwhile, ongoing negotiations value Skillmatics at approximately ₹3,800-4,000 crore ($400-420 million).

Of the proposed fundraise, around ₹175-200 crore ($18-20 million) will come through primary capital and flow directly into the company. The remaining ₹400-500 crore ($42-52 million) will come through secondary share sales, allowing some early investors to partially exit, one of the people cited above said.

Skillmatics plans to deploy the primary capital to enter new categories and introduce products such as pretend-play offerings and plastic toys. At the same time, the secondary component will give some of the company’s early backers an opportunity to partially monetise their holdings.

Peak XV Partners is expected to account for a significant portion of the secondary transaction. The investor currently holds a stake valued at around ₹1,000 crore, representing roughly 25 per cent of Skillmatics at an overall valuation of around ₹4,000 crore, a second source familiar with the development said.

“While Peak will alone sell around Rs 400 crore worth of shares in Skillmatics, early investors, largely angels, will sell the remaining to stitch the round together,” the second source said.

Following the transaction, Peak XV is expected to retain its remaining stake, which could be valued at approximately ₹600 crore.

The transaction would mark another monetisation event for Peak XV Partners. The investment firm has executed several secondary share sales involving Indian new-age companies as it returns capital to its fund sponsors while seeking to realise gains from its portfolio investments.

However, the discussions remain ongoing, and the final structure and terms of the transaction could change as negotiations continue.

If completed, the deal would add to the recent institutional interest in India’s consumer and direct-to-consumer (D2C) startup sector. Venture capital firms are currently discussing investments in at least 18 consumer startups, reflecting renewed investor activity across the segment.

Furthermore, the proposed Skillmatics transaction would rank among the larger recent fundraises in the consumer startup space. It would also sit alongside sizeable transactions involving companies such as Sarvam, Emergent, River, Navi, and Pixxel.

The ₹600-700 crore round would represent Skillmatics’ largest fundraise since its founding around a decade ago. It would also mark the company’s first funding round in more than four years.

Skillmatics last raised $16 million in 2022 at a valuation of $128 million. At the time, the company reported consolidated revenue of approximately ₹90-100 crore. Since then, however, Skillmatics has expanded its revenue significantly, growing its top line around eight-fold.

The Mumbai-based company reported sales of approximately ₹660 crore in FY26 and is currently on track to reach around ₹880 crore in sales in FY27, according to regulatory filings and sources.

Moreover, Skillmatics has remained profitable, with margins of around 5-7 percent. The US continues to represent its largest market and contributes around 60 percent of its revenue, followed by the UK and India. Together, these three markets account for nearly 90-95 percent of the company’s consolidated revenue.

Former BCG consultant Dhvanil Sheth founded Skillmatics in 2016 and currently serves as the company’s CEO. Devanshi Kejriwal also co-founded the business and leads its product and content functions.

Meanwhile, the proposed Skillmatics deal reflects a broader revival in funding activity across India’s consumer startup ecosystem. Investors have renewed discussions around fresh investments in consumer-focused companies, although they are placing greater emphasis on scale, profitability, and disciplined valuations.

Consequently, startups are increasingly combining primary capital with secondary share sales in funding rounds. This structure enables companies to finance their next phase of expansion while simultaneously allowing early investors to partially realise their investments.

Avas Wellness plans new residential and hospitality projects in Alibaug

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Avas Wellness is entering a significant new phase in Alibaug by bringing its residential, wellness, and hospitality plans together under a broader lifestyle ecosystem. The company will add two new residential communities, including Alaaya by Avas, to its expanding portfolio. In addition, the upcoming Avas Wellness Club and Casa Avāna will expand the brand’s offerings across hospitality, wellbeing, recreation, and social experiences. Together, these developments reflect Avas Wellness’ vision of creating a lifestyle that extends beyond the traditional boundaries of a home.

Over the past few years, Avas Wellness has developed a distinctive residential proposition in Alibaug, starting with Avas Living in Awas. Now, the company plans to build on that approach by developing a wider collection of communities and shared destinations. These spaces will cater to different lifestyles while maintaining a common focus on design, nature, and well-being.

Furthermore, architecture will play a central role in differentiating each Avas community. Through Avas Design Studio, the company works with globally recognised architects and design specialists, including SAOTA, one of the foremost award-winning South African-based architecture firms, and Madrid-based architect Felipe Gonsalves of Studio Sukyf.

Rather than following one uniform design style, Avas Wellness will introduce residences featuring multiple architectural influences. These will range from Neo-Mediterranean and Spanish Revival styles to Balinese influences, tropical modernism, and contemporary minimalism. Moreover, the homes will incorporate natural materials, expansive spaces, landscaped courtyards, gardens, wide views, and seamless indoor-outdoor areas. As a result, each residence will respond to its surroundings while integrating naturally with Alibaug’s tropical environment.

Beyond residential spaces, Avas Wellness is also developing destinations designed to promote movement, relaxation, social interaction, and community engagement. A dedicated court club will combine racquet sports with fitness and recovery facilities. Consequently, the club will serve both recreational and social purposes while creating opportunities for residents and members to connect.

Casa Avāna will further strengthen this broader lifestyle proposition. Designed as a standalone destination, the property will combine hospitality, wellness, and culture through dining, spa experiences, landscaped gardens, recreation, art, private gathering areas, and a rotating calendar of social experiences.

The company intends to give Casa Avāna a flexible atmosphere that changes throughout the day. It will offer wellness-focused and peaceful mornings, relaxed afternoons for families and friends, and dining and social gatherings during the evening. This approach will allow the destination to serve different needs throughout the day.

Meanwhile, the Avas Wellness Club is scheduled to open by the end of 2026. The club will bring preventive health, longevity, fitness, recovery, nutrition, beauty, and skincare together with curated culinary experiences. In turn, Avas Wellness aims to make wellness a more integrated part of everyday living.

Ahead of the club’s launch, Avas Wellness will introduce its Wellness Club Membership during Diwali. Initially, the membership will include residents and their guests, prospective homeowners, and select members of the Alibaug community. The company plans to evolve the membership as the wider Avas ecosystem expands.

“We didn’t set out to build another residential development in Alibaug. We set out to reimagine what living well could look like. The home is only the starting point. The real opportunity lies in creating an ecosystem around it, one that brings together wellness, hospitality, sport, food, nature, and community in a way that becomes part of everyday life. That is the ambition behind Avas, and ultimately, we believe it can define an entirely new paradigm for wellness-led living in India,” says Aditya Kilachand, Founder and CEO, Avas Wellness.

At the same time, Alibaug continues to undergo significant changes in connectivity and accessibility. The Atal Setu has reduced travel friction between Mumbai and the region, while the upcoming Rewas–Karanja bridge could further strengthen connectivity. As accessibility improves, Alibaug is gradually moving beyond its traditional identity as a weekend destination. Instead, the region is increasingly attracting homeowners looking to spend longer periods there and establish more connected lifestyles.

Against this backdrop, Avas Wellness is developing its next stage of growth. The new residential communities will expand the brand’s architectural and lifestyle offerings, while Casa Avāna, the court club, and the Avas Wellness Club will create additional experiences around these homes.

Ultimately, Avas Wellness is bringing residences, wellness, hospitality, recreation, and community together within a connected ecosystem. Through this expansion, the company aims to create a broader lifestyle proposition in Alibaug, where the value of residential living extends beyond the home to encompass the experiences, services, and community surrounding it.

Montra Electric targets $1 Billion revenue by 2030 with electric trucks

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Montra Electric, the Murugappa Group company focused on electric commercial vehicles, expects electric trucks to generate nearly 70 percent of its targeted $1 billion (around ₹9,600 crore) revenue by 2030. Managing director Jalaj Gupta said the company will include both heavy and light electric trucks in this revenue mix.

Furthermore, heavy trucks alone could contribute around half of the company’s targeted turnover. Small commercial vehicles in the 2.0- to 3.5-tonne category could account for another 23-25 percent, while three-wheelers could contribute around 20 percent. Tractors, meanwhile, could generate another 7-10 percent of the revenue.

Despite the current penetration of electric trucks in the heavy commercial vehicle segment remaining below 1 percent, Montra Electric expects the market to expand significantly. Limited charging infrastructure along long-haul routes continues to restrict adoption, while most electric trucks currently operate on short and predictable routes.

Meanwhile, Montra Electric manufactures electric three-wheelers, tractors, small commercial vehicles, and heavy trucks. The company currently has around 21,000 vehicles on the road and generated ₹740 crore in revenue last year.

Gupta expects higher battery capacities to address the range limitations that currently affect electric trucks. “There was a time when it all started with some 250-kilowatt batteries. Now everybody is talking of at least 350- to 400-kilowatt batteries,” he said.

Moreover, Gupta said battery packs with capacities of around 450 kWh, which companies have showcased at industry events, could enable electric trucks to travel approximately 300 km on a single charge. This improvement could support the adoption of electric trucks across a wider range of commercial applications.

At the industry level, sales of electric N3 trucks, which have a gross vehicle weight of more than 12-55 tonnes, increased from around 850 units in the previous fiscal year to approximately 1,300 units during the first five months of the current fiscal year. Gupta attributed this growth to state EV policies, sector-specific deployments in industries such as cement and steel, and rising diesel and CNG prices.

Going forward, Gupta expects electric heavy trucks and small commercial vehicles to achieve annual growth of more than 50 percent. Consequently, Montra Electric sees strong potential for these segments to support its broader expansion and help the company move towards its $1 billion revenue target by 2030.

Chalet Hotels in talks to acquire Six Senses Vana for ₹600-Crore

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Chalet Hotels is in advanced discussions to acquire the luxury wellness retreat Six Senses Vana in Dehradun for around ₹600 crore, according to people familiar with the matter. The property is owned by Veer Singh, son of Max Group founder Analjit Singh, and operates under the Six Senses luxury brand.

Analjit Singh had gifted Vana to his son as part of a succession and inheritance plan, according to people familiar with the matter. Meanwhile, Six Senses operates under the portfolio of UK-based IHG Hotels & Resorts.

Chalet Hotels, part of the K Raheja Corp group, has been increasing its focus on the luxury hospitality segment. The company is also expanding its presence through new developments and acquisitions across key markets.

In February, Chief Executive Shwetank Singh said the company was launching its first Ritz-Carlton property in Hyderabad. The project will feature a 330-room luxury hotel along with commercial or retail space.

The company has also pursued acquisitions in the luxury resort segment. Last year, Chalet Hotels said it was working towards a definitive agreement with Mankind Pharma to acquire a 100% stake in Mahananda Spa and Resorts, which owns The Westin Resort and Spa, Himalayas in Rishikesh. The transaction was valued at an enterprise value of ₹530 crore.

In December, Chalet Hotels also announced plans to acquire a company that owns a 150-room resort property in Udaipur for ₹171 crore. Additionally, the company is developing a hotel at Delhi airport that Indian Hotels Company will manage under the Taj brand.

Chalet Hotels has continued to strengthen its luxury and premium hospitality portfolio as demand for high-end accommodation grows across major leisure and business destinations.

In February, CEO Shwetank Singh said Chalet Hotels had a “very deep belief” in the premiumisation of its offerings, be it residential or commercial projects. ” Our data points tell us that these are the segments where most of the growth will come from. All our future announcements will be driven by this belief,” he said.

If completed, the proposed Six Senses Vana acquisition would further expand Chalet Hotels’ presence in the luxury wellness and resort segment while adding a prominent Dehradun property to its portfolio.

Sumi Yashshree Hotels announces five-star resort in Itanagar

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Sumi Yashshree Hotels & Resorts has announced the upcoming opening of Yashshree GD Garden Resort, a new five-star hospitality destination on Jollang Road in Papu Nallah, Naharlagun, Itanagar.

Spread across 13 acres of landscaped grounds, the resort will feature 45 rooms and cater to leisure travellers, families, business guests, and visitors attending weddings, conferences, and social celebrations.

The property will also offer extensive event facilities. These will include a 6,000 sq. ft. banquet hall, a 2,500 sq. ft. conference room, an 800 sq. ft. boardroom, and a 10,000 sq. ft. outdoor lawn. In addition, the resort plans to provide parking for more than 100 vehicles.

For leisure and dining, guests will have access to a restaurant, bar, and swimming pool. The resort aims to serve as a convenient base for travellers visiting Itanagar for leisure, business, cultural experiences, and events.

Sadip Lama, Founder and CMD, Sumi Yashshree Hotels & Resorts, said the company aims to create a distinctive hospitality experience for visitors while providing Itanagar with a comprehensive venue for weddings, celebrations, and corporate gatherings.

The upcoming launch marks another step in the group’s expansion across eastern and northeastern India. Sumi Yashshree Hotels & Resorts currently operates properties across destinations including Darjeeling, Gangtok, Kalimpong, Lachung, Lachen, Pelling, Siliguri, Vizag, Araku, and Digboi.

With its combination of accommodation, dining, leisure facilities, and large event spaces, Yashshree GD Garden Resort will add a new hospitality offering to the Itanagar market. The company will announce the official opening date and booking details shortly.