Ambience Group reports positive year-on-year growth compared to 2019 in malls

Ambience Group, which runs shopping malls in Gurugram and Vasant Kunj, has seen positive year-on-year growth compared to 2019 in terms of sales in its malls and aims to continue to bring international brands to India.

“The year has been good,” Ambience Group’s director Arjun Gehlot told Shopping Centre News in an interview. “Footfalls have increased and so has business. Customer sentiments are running strong, and so are sales. The pandemic was a huge setback, but we were confident of a bounce back. This year, we saw many international brands entering India and are happy that brands like Pottery Barn and Victoria’s Secret, entered India through us. I am hopeful that this momentum will be sustained, and I have confidence in the Indian market and real estate sector.”
 
Ambience Group has reported positive year-on-year growth in overall sales in its malls both this year and last year, compared to pre-pandemic 2019, India Retailing reported. The business focuses on overall sales within its malls rather than total revenue as a marker of its progress. 

“As of now, our current focus is on both properties, but yes, being in the real estate business, we are always looking for a good opportunity and will begin as it approaches,” said Gehlot about future plans. “We are open to all opportunities coming our way and the location or city is not a barrier.”
 
Ambience Group was established in 1986 and specialises in residential and commercial real estate. The business had launched the ‘Ambience Island’ township in Gurugram which features housing, retail outlets, a hotel, and numerous community facilities.