WHERE do India’s wealthiest travel besides local destinations like Udaipur or Goa? It’s either Europe or tropical places like Bali and Koh Samui. That’s where Isprava Group has expanded its hospitality business, Lohono Stays, globally in last two years with locations in Phuket and Koh Samui in Thailand, Bali in Indonesia, Maldives and Sri Lanka. The company was founded in 2016 by brothers Dhimaan and Nibhrant Shah, investment bankers who returned to India after stints in London and New York. “We cater to customers who are as likely to spend holidays outside India as inside India. We have almost 250 homes, over 1,000 rooms, outside India,” says Nibhrant Shah. It plans to expand in Europe too. “We are looking at Italy, Greece, south of France,” he adds.
Mumbai-based Isprava Group, which owns luxury real estate developer Isprava (average ticket size ₹10 crore) and real estate brand Chapter (average ticket size ₹5 crore), besides Lohono, is on an expansion spree. “We have grown at 65% CAGR over a five-year period,” says Dhimaan Shah. The company reported sales of about ₹700 crore in FY24, up from ₹530 crore in FY23. — Arnika Thakur