Even as actress Shilpa Shetty’s Bastian Hospitality is set to operate the food zone spread over one lakh square feet at Central Park in GIFT City, Gandhinagar, a controversy has emerged over alleged changes to the tender conditions to favour a preferred bidder.
According to a report in Gujarat Samachar, a vernacular daily, the annual turnover requirement of Rs 8–8.5 crore was increased to Rs 10 crore, allegedly to exclude local bidders.
The report further states that additional experience requirements were also added, indirectly suggesting that certain local companies could be avoided. It also mentions that the state government has suffered a loss of Rs 68 crore as a result.
The newspaper report notes that the original tender offered a 15-year contract with a rent of Rs 65 lakh per month (Rs 65 per square foot), which would have generated Rs 120 crore in revenue for GIFT City over 15 years.
Subsequently, the rent was reduced to Rs 55 per square foot, then further to Rs 45 per square foot. The report claims that overnight, the rent was suddenly lowered to Rs 35 per square foot.
GIFT City is India’s first operational smart city and International Financial Services Centre (IFSC).
The Food Zone has been developed as part of Phase 1 of Central Park, along with public plazas, event areas, jogging and cycling tracks, and vibrant social spaces.
From its beginnings as a seafood-focused restaurant, Bastian has grown into a multifaceted brand that defines India’s contemporary dining and nightlife scene.
Over time, the brand has expanded its culinary universe from Italian indulgence at Bizza and Peruvian-Asian flair at Inka to American comfort at One Street, the charm of Blondie Cafe, and regional authenticity at Ammakai, creating experiences that go beyond dining, blending gastronomy with art, music, and culture.
In 2019, Shilpa Shetty purchased a 50 per cent stake in Bastian Hospitality.
According to reports, Bastian Hospitality has taken a loan of Rs 23.30 crore from Central Bank of India and Rs 8.90 crore from Indian Bank.
Bastian currently operates restaurants in Mumbai, Pune, and Bengaluru.
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