Bhutani Group wins NCLT nod to take over Noida's Entertainment City, plans ₹10,000 cr revamp

The NCLT cleared Bhutani Group's takeover of Noida's 147-acre Entertainment City, home to The Great India Place, Gardens Galleria Mall, Worlds of Wonder and KidZania. The group plans a ₹10,000 crore investment to reposition the distressed asset as an entertainment-lifestyle destination.

— Source publishedMon, 6 Jul, 2026, 01:13 IST·First seen Mon, 6 Jul, 2026, 01:26 IST·Source ET Small Business

What happened

NCLT cleared Bhutani Group's takeover of Noida's Entertainment City, home to The Great India Place mall, Gardens Galleria, Worlds of Wonder and KidZania. The

Key facts

  • 147-acre
  • ₹10,000 crore
  • 4.26% stake
  • 3.70%
  • 0.56%
  • 100% disinvestment

Why this matters

Bhutani's successful NCLT bid shows the insolvency route remains a viable channel to acquire prime distressed retail-entertainment real estate at scale, worth benchmarking for similar mall-portfolio opportunities.

What to watch

  • NCLT order finality and any creditor/appeal challenges
  • Announced occupancy commitments and marquee anchor signings
  • Actual capex drawdown vs the ₹10,000 cr pledge in first 12-18 months
  • Footfall recovery data at The Great India Place / Gardens Galleria post-relaunch
  • New NCR retail-entertainment supply coming online in same catchment
  • Bhutani to announce master-plan and phasing schedule, likely leading with anchor entertainment reactivation
  • Retenanting drive targeting F&B, cinema, and experiential brands; renegotiation of legacy leases
  • Financial closure / debt tie-ups to fund ₹10,000 cr over multi-year horizon
  • Competing NCR mall operators may accelerate refresh capex to defend catchment

Also reported by