Three houses, few rooms, across India’s most protected landscapes. Built slowly, kept quiet, and passed along the way the best addresses always have been.
Sustainable is a low bar. Every house of PRISM is built to leave its landscape richer than we found it. Five living systems make that true, all year, at every house.
Five suites around one courtyard, taken by one party at a time. The first door PRISM opens.
Suites hidden in an old Sal forest in the Himalayan foothills — some standing over moving water.
A handful of villas in India’s oldest hills — and at night, no other light in any direction.
The kitchen has been cooking since five. One table is set under the tree for everyone in residence — and no one else. After dinner, the only thing left on is the sky.
| The Estate | Doon | Aravalli | |
|---|---|---|---|
| Keys | 5 | 22 | 22 |
| Land | 2–3 ac, walled | 12 of 60 ac | 8 of 38 ac |
| Build | ~20 mo | ~30 mo | ~36 mo |
| Capex | ₹65 Cr | ₹195 Cr | ₹265 Cr |
| Opex / yr | ₹18 Cr | ₹43 Cr | ₹57 Cr |
| ADR | ₹2 L | ₹75 K | ₹1 L |
| Occupancy | 65% | 72% | 72% |
| GBV / yr | ₹36 Cr | ₹76 Cr | ₹100 Cr |
| Profit / yr | ₹16 Cr | ₹33 Cr | ₹43 Cr |
| Yield on cost | ~25% | ~17% | ~16% |
| Payback | ~Yr 4 | Yr 5–6 | Yr 5–6 |
| Opens | First — Q4 2028 | 2029 | 2030 |
The Estate sells as one house — full buyout at ₹8–10 L a night; suites ₹1.75–2.25 L. Rates are held a notch under the tier the houses are built to sit in — and the houses run fuller instead. ADR and occupancy are blended, stabilised Year 3. Profit is EBITDA; payback is on equity, after debt service, from opening — about four years at the Estate, five to six at Doon and Aravalli, allowing for the ramp to stabilisation.
Rooms are only 57% of GBV — the table and cellar bring 26%, the spa and experiences 17%. The Estate carries a second engine besides its rooms: The Circle — sixty members, by invitation — whose dues and Vault evenings are worth about ₹6 Cr a year before a single night is sold.
₹269 Cr of equity across three tranches, land to opening. ~8× blended target multiple on the Year-10 view.
¹ Figures from PRISM’s internal model; targets, not guarantees, shared in full under NDA. This page is for information only and is not an offer to sell securities.
How the first door gets built — roughly twenty-four months, equity in three tranches, debt drawn against construction.
Amounts are cumulative capex deployed. ₹33 Cr of equity across the three tranches marked; ₹32 Cr of debt drawn against construction from structure onward. Doon follows on a thirty-month build, the Aravalli flagship on thirty-six, once the first door is open.
Introductions only. Principals named on request.