- Tamara will add nine properties as it expands beyond South India.
- Infosys co-founder S.D. Shibulal and his daughter Shruti lead the venture.
- The group posted $18 million in revenue and a $2 million net loss in FY 2024-25.
TAMARA LEISURE EXPERIENCES will add nine new properties as it expands beyond South India. The company currently operates eight properties across three brands: Tamara, O by Tamara and Lilac.
Tamara posted $18 million in revenue and a net loss of $2 million in the financial year 2024-25, BusinessLine reported, citing Tracxn data. Founded by Shruti Shibulal, daughter of Infosys co-founder S.D. Shibulal, the company is chaired by Shibulal himself, who guides its strategy and investments.
“This phase of growth is rooted in Tamara’s foundation and is guided by three pillars,” said Samir MC, Tamara’s CEO. “First, a destination-first lens that allows each property to emerge organically from its cultural and geographic context. Second, the thoughtful use of technology to enhance guest experiences, personalize journeys and enable seamless interactions across touchpoints. Third, a commitment to responsible hospitality, where sustainability is embedded into design, operations and long-term value creation.”
Tamara appointed Samir M.C. CEO in June, succeeding Shruti Shibulal, who became executive vice chair to focus on long-term strategy and culture.
As part of its 2030 vision, Tamara Leisure Experiences plans to launch The Tamara Kaziranga in Assam, The Tamara Alleppey houseboats in Kerala, and The Tamara Hosur farm resort in Tamil Nadu, The Economic Times reported. The group will also introduce O by Tamara in Bodh Gaya, Bihar, and Whitefield, Karnataka.
Its midscale brand Lilac will expand to Velankanni and Madurai in Tamil Nadu, Kufri in Himachal Pradesh, and Kannur in Kerala. In Madurai, Tamara will enter the wedding market with Kalyana Mandapam. These projects are at various stages of development and are expected to open between 2028 and 2030.
The company traditionally followed an owned-and-operated model funded through internal capital but has now begun an asset-light approach, according to the businessline. The Kufri property will be its first management contract, allowing Tamara to expand without significant capital.
The expansion comes amid domestic travel demand that has outpaced supply in several markets. Industry trends such as experiential travel, wellness interest and improved infrastructure have supported growth in leisure and business segments, Samir said. The company plans to remain selective in adding properties, focusing on responsible hospitality and community integration.
From IT to hospitality
Since retiring as CEO and managing director of Infosys in 2014, S.D. Shibulal has invested through his family office, Innovations Investment Management, focusing on real estate and hospitality. Shruti Shibulal, who holds an MBA from Columbia Business School and began her career at Merrill Lynch, has helped build the family’s real estate and hospitality portfolio. She also runs restaurants in Bengaluru, including Caperberry and Fava.
Shruti aims to create business models that balance people, planet and profit, according to media reports. Under her leadership, Tamara Leisure Experiences integrates climate-resilient policies, green building practices, wildlife preservation and resource management. The company focuses on gender parity, workforce development and job creation to support local communities.
She also serves as trustee for the Shibulal Family Philanthropic Initiatives, supporting education and healthcare for underprivileged communities and as Trustee of ATREE – Ashoka Trust for Research in Ecology and Environment. In 2019, she launched SAATHIYA, a hospitality skilling program that trains disadvantaged youth for jobs in hotels and restaurants and improves graduates’ career prospects.
Olive Hospitality, the hospitality arm of Bengaluru-based real estate firm Embassy Group, expanded to more than 100 hotels across the country, reached operational break-even and expects to post profits next fiscal year. Its operational properties generated an annual run rate of $12.1 million, with a secured pipeline of $50.6 million.
