Jamshri Realty is a Solapur-based company that has turned its century-old textile mill campus into a single, walkable mixed-use destination - a bet that a Tier II city can support the same organised retail, office and entertainment experience as a metro, all on one site. The company was originally incorporated in 1907 as a spinning and weaving mill, but permanently stopped manufacturing in November 2018 and formally changed its name and business to real estate services in December 2019, repurposing its entire factory campus rather than building from scratch. Its recurring approach is to develop, lease and operate every layer of the campus itself - retail, workspace, food and events - so that each part feeds footfall to the others, creating what management calls a “Work From Home Town” where jobs and lifestyle come to a smaller city instead of people leaving it. # Business segments Three engines on one campus - a retail and office leasing business that anchors the economics, a hospitality business that feeds on the footfall, and on-site sustainability infrastructure that lowers costs for all of them - each built by repurposing former textile-mill land and buildings. ## 1. Jamshri Avenue campus: the landlord and placemaker **The company leases repurposed mill buildings to national brands and creates the events and amenities that draw 2,000 daily visitors to a single Solapur campus, earning from both fixed rents and revenue shares.** - **Anchor tenants on long leases** - Westside (Tata Trent) occupies roughly 25,000-25,500 sq ft under a 25-year lease and began trading in June 2023, while Zudio and Star Bazaar are also on campus, giving the company stable, multi-decade rental income from established national retailers. - **A pipeline of signed brands** - Mr. DIY opened in December 2023 on about 5,100 sq ft with a 15-year agreement, and the company has tied up with Connplex for a 4-screen cinema subject to approvals and is in negotiations with Adidas and Samsung, so future occupancy is being actively developed. - **Footfall is manufactured, not accidental** - the company runs bazaars, live music, magic shows and mimicry acts, and partners with academic institutions for internships, because a campus that hosts cultural events keeps visitors coming back and makes the location more valuable to retail tenants. - **The land-use switch was the unlock** - by converting its property from industrial to commercial designation, the company simplified approvals for retail outlets and made it possible to lease space to national and international brands that would not have considered a factory site. - **Infrastructure as a tenant magnet** - the campus provides parking for more than 400 four-wheelers and 800 two-wheelers, round-the-clock security, CCTV with online access, fire alarms, sprinklers and complimentary EV charging, because national chains demand ready, compliant space before they will sign a lease. ## 2. JR Ignite Business Park: the Tier II office play **The company has delivered over 500 seats of IT and ITeS workspace on campus, betting that technology firms will move jobs to Solapur if the office comes with retail, food and entertainment next door.** - **Ready-to-occupy seats, not empty shells** - more than 500 seats of IT and IT-enabled services workspace have been delivered to clients as of FY25, with the Mahindra Group confirmed as an occupant, meaning the company is not just building speculatively but has paying tenants in place. - **Co-working lowers the trial barrier** - a modern co-working space bundles electricity, housekeeping, security and internet into one all-inclusive cost, so IT and BPO firms can test Solapur as a base without committing to their own administrative setup. - **The campus is the differentiator** - the office-space model has been copied by others in Solapur, but the company believes its better location and the fact that office tenants can walk to on-site retail, restaurants and entertainment give it an edge that a standalone office park cannot match. ## 3. Hospitality: the footfall converter **Three self-operated food outlets and a banquet facility that has hosted over 350 events turn campus visitors into paying customers, while branded retail next door feeds the restaurants in return.** - **Banquets are the volume driver** - Shubham Resort and Banquets has hosted more than 350 events to date, generating revenue from event hosting that is monitored as part of the Hospitality Services segment by the company’s chief decision-maker. - **Retail tenants feed the restaurants** - the opening of Westside and other branded stores increased daily footfall on campus, which directly lifted walk-ins at the hotel and restaurant, so the hospitality business grows as the leasing business grows. # Sustainability infrastructure **A 950 kW solar plant, rainwater harvesting across more than 60,000 sq ft, and restored groundwater wells with roughly 100 lakh litres of storage cut energy and water costs for the entire campus while giving tenants a greener address.** - **Solar cuts power costs roughly in half** - the 950 kW rooftop installation generated 12,38,146 units in FY25 and has been supplying tenants through net metering since at least FY22, replacing conventional energy at approximately 50% of the cost and reducing maximum demand by 125 KVA. - **Water security from on-site capture** - rainwater harvesting covers more than 60,000 sq ft and restored recharge wells hold approximately 100 lakh litres, reducing dependence on municipal supply for a campus that needs water for landscaping, restaurants and events. - **Green cover as amenity and signal** - over 6,000 trees, plants and shrubs have been planted since 2021, and complimentary EV charging points are provided for two-wheelers and four-wheelers, reinforcing the campus’s positioning as a modern, environmentally conscious destination. # Group structure and partners **The company has no subsidiaries or joint ventures, but its campus operations depend on revenue-sharing agreements with related-party entities that own adjoining land - a structure that keeps asset ownership light but concentrates control.** - **Standalone entity, family-controlled** - Jamshri Realty has no subsidiaries, joint ventures or associates, is listed solely on BSE, and promoters hold roughly 75% of shares, with Premratan Damani as Managing Director and his son Rajesh Damani as Joint Managing Director spearheading the pivot. - **Hospitality premises from related parties** - the vegetarian restaurant was built on land belonging to Vithoba Textiles, and the company took over banquet and room facilities already developed by Bimla Holdings and Vithoba Textiles, operating them under a revenue-share arrangement for lodging and boarding maintenance.