Indian Hotels Company Limited (IHCL) has signed an agreement for a new Taj hotel in Ranchi, Jharkhand, India.

This greenfield project will be developed on a six-acre site leased from the Jharkhand state government.

The hotel is poised to leverage Ranchi's strategic location and its ongoing evolution into a smart city.

IHCL managing director and CEO Puneet Chhatwal said: "We are delighted to bring the iconic Taj brand to Ranchi, a city with immense potential for growth.

"Ranchi’s strategic location and its ongoing transformation into a smart city make it a promising destination. This signing aligns with the strategy of building our presence in the region, which is fast developing into a significant industrial, commercial and cultural hub.”

The 200-key hotel will be located in Dhurwa, offering connectivity and visibility.

It is set to provide guests with a range of modern amenities such as extensive banqueting areas, diverse food and beverage options, and a well-equipped wellness centre.

The hotel's strategic position within the Core Capital Area will place it at the nexus of the city's new central business district, government offices, and corporate headquarters.

With this new hotel, IHCL's portfolio in Jharkhand will include six hotels, with one still under development.

Along with its subsidiaries, the company manages a collection of brands, including Taj, SeleQtions, Vivanta, and Ginger, which operate across various segments.

Founded by Jamsetji Tata, IHCL opened its first hotel in Bombay in 1903. The company now boasts a global portfolio of 326 hotels, with 102 under development, spanning four continents, 13 countries, and more than 130 locations.

Earlier this month, IHCL also expanded its presence in Maharashtra with the signing of a fifth Ginger-branded hotel in Thane.