Vatika group sells food startup biz; to focus on realty, hotel businesses
Vatika group, which is into real estate and hospitality business, on Thursday announced sale of its food startup 'Nukkadwala' to focus on core businesses.
The size of the deal was not disclosed.
The company sold 14 operational outlets and nine in pipeline to a Delhi-based high networth individual, said Gaurav Bhalla, MD, Vatika Hospitality business.
"The group needs much larger time and focus on managing and growing its real estate and hospitality business. It was felt that hiving off Nukkadwala makes a lot of sense at current times, where it is very well received as a brand and is all set for exponential growth, while we focus on our core businesses," he added.
The food start-up, which focused on street foods, did a business of about Rs 9 crore during the last financial year, Bhalla said.
Vatika Group has developed residential and commercial real estate projects in Gurgaon, Jaipur, and Ambala. It own two hotels in Gurugram, Haryana.
The group has integrated facility management ...