VR Surat - India

What VR Surat - India does

VR Surat is a 615,000 sq. ft. integrated lifestyle shopping center located on Dumas Road in the Magdalla area of Surat, Gujarat, India. Founded in 2013 as the flagship destination of Virtuous Retail South Asia, the center operates as a community-oriented retail and entertainment destination that curates shopping, dining, cultural programming, and events under a single roof.

The center's product surface spans four operational zones across multiple floors: a 100+ brand retail anchor (including Adidas, Levi's, Marks & Spencer, Tommy Hilfiger, Lacoste, Shoppers Stop, Westside, Pantaloons, Hamleys, Nykaa Luxe, and Dyson); a food court ("Food Box") with F&B tenants such as McDonald's, KFC, Burger King, and Coffee Culture; an entertainment layer comprising INOX Cinemas, Timezone gaming, Jus Jumping kids' zone, and a London Bus ride; and a services layer including The Hive co-working space and The Arc wedding platform. Underlying infrastructure includes EV charging points, locker facilities, and event venues (Center Court, Sky Deck, Festival Park, The Runway, Dumas Square). Digital touchpoints include a VR 360 virtual tour and a tenant portal.

The business model is B2B property leasing. VR Surat monetizes through three primary revenue streams: retail space rentals, F&B tenant rentals, and entertainment partnership leases. The go-to-market is direct enterprise field sales targeting retail chains, fashion brands, F&B operators, and entertainment providers, with leasing inquiries routed to [email protected]. Revenue is not publicly disclosed. The asset operates at 98.6% occupancy in a market with only four Grade A shopping centers, serving a catchment of approximately 5 million people within a 30-minute drive (where per capita purchasing power averages INR 2.31 Lakhs). The parent group, Virtuous Retail South Asia, manages a 13.4 million sq. ft. portfolio across India under the leadership of Founder and Chairman Sid Yog.

Name

VR Surat - India

Legal name

VR Surat

Website

https://vrsurat.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

VR Surat is a 615,000 sq. ft. integrated lifestyle shopping center in Surat, Gujarat, operated by Virtuous Retail South Asia. It leases retail, F&B, and entertainment space to 100+ national and international brands, operating at 98.6% occupancy in Surat's constrained Grade A retail market.

Ownership category

akta.pro rank

Headquarters

HQ city

Surat

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Marketing or Sales, Personnel, Others

Revenue model

1. Retail Space Leasing: Primary revenue from leasing retail space to fashion brands, accessories, footwear, and lifestyle retailers. Tenants include international brands like Adidas, Levi's, Marks & Spencer as well as domestic brands.
2. F&B Tenant Rentals: Revenue from food court and restaurant operators including brands like McDonald's, Burger King, KFC, and specialty restaurants.
3. Entertainment Partnerships: Revenue from multiplex (INOX) and family entertainment centers including Timezone, Jus Jumping, and London Bus attractions.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

VR Surat is a 615,000 sq. ft. integrated lifestyle shopping center that leases retail, F&B, and entertainment space to brands and operators. It houses 100+ retail tenants including international fashion and sportswear brands, department stores, beauty retailers, electronics stores, a multi-brand food court, an INOX multiplex, family entertainment zones, co-working space (The Hive), premium event venues, and a wedding services platform (The Arc).

Product overview

VR Surat is a 615,000 sq. ft. community-oriented integrated lifestyle destination shopping center operated by Virtuous Retail South Asia. The center offers a curated mix of retail (fashion, beauty, electronics, home furnishing), food and beverage (multi-cuisine restaurants, fast food chains, cafes), entertainment (INOX multiplex, Timezone gaming arcade, kids' zones), and services (The Hive co-working spaces, The Arc wedding platform, premium event venues). The mall integrates with BookMyShow for movie ticketing. Key retail tenants include Shoppers Stop, Westside, Pantaloons, Hamleys, Nykaa Luxe, and over 100+ fashion and lifestyle brands. The center features unique art installations (Dumas Art Project, Streat Mural) and hosts regular cultural events, festivals, and community programs.

Differentiator

Problem solved

Functional benefit

Products and services

• VR Surat Shopping Mall (Retail, F&B, Entertainment Space) 615,000 sq. ft. integrated lifestyle shopping center leasing retail, F&B, and entertainment space to brands and operators across multiple floors.
• Food Box (Food Court) Multi-brand food court offering variety of cuisines including fast food, cafes, restaurants, and Indian delicacies.
• INOX Cinemas State-of-the-art multiplex with modern projection and acoustic systems, stadium-styled seating, and variety of theater food located on Third Floor.
• Timezone (Family Entertainment Center) Family entertainment center equipped with the latest and classic games, offering a fun-filled gaming experience in a bright, colorful ambience.
• Jus Jumping (Kids' Entertainment Zone) Kids' entertainment zone with climbing, running, jumping activities, trampoline park, rides, and theme parties for children.
• The Hive - Collaborative Workspaces Shared and private office spaces with amenities designed for creative professionals and emerging enterprises, located at VR Surat.
• Premium Event Spaces Venues including Center Court (premium event area with supersized video wall), Sky Deck (rooftop venue for 200 people), Festival Park (outdoor event space), The Runway (fashion event venue), and Dumas Square (outdoor community space) available for events, brand activations, fashion shows, and community programs.
• The Arc - Wedding Platform One-stop platform for wedding shopping, amenities, and fine dining featuring designer wear, jewelry, fine dining, wedding planning services, beauty & wellness, travel boutique, and HNI banking lounge.
• Tenant Portal Online portal for retail and F&B tenants to access VR Surat services, manage operations, and engage with the VR Surat community.
• VR 360 Virtual Tour Immersive 360-degree virtual tour of the VR Surat shopping center for prospective visitors and tenants.

Quantifiable outcome

• 98.6% occupancy rate in Surat's Grade A retail market
• +5 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Partnerships

Ten partnerships are on record, tiered core and flagship.

• BlissclubcoreGTM or Marketing Partner · 21 June 2026Blissclub collaborated with VR Surat for International Yoga Day event, conducting a yoga session led by professional instructors with 53 attendees. Blissclub also presented hampers to participants.
• Be The Change, Sakhi Saheli Trust Surat, Lakshay Trust, Navoday TrustcoreStrategic or Co-development Partner · 13 June 2026Collaborated for the 'Unite In Pride' event - Pride Rally & Fashion Show celebrating inclusion, individuality, and self-expression. The partnership created a strong platform for awareness, acceptance, and community participation.
• Forest Department Government of Gujarat, The True North, Wilderness India, Wildlife Education & Charitable Trust NGOcoreStrategic or Co-development Partner · 5 June 2026World Environment Day partnership with government and NGO stakeholders for sapling distribution drive. Complimentary saplings were distributed to 200 shoppers to encourage sustainable living.
• Discovery Kids IndiacoreGTM or Marketing Partner · 14 May 2026Discovery Kids India partnered with VR Surat for the Cartoon Meet & Greet event featuring Titto and Mr Bean characters. The association added a playful and high-energy entertainment layer to the VR13 anniversary celebrations.
• TESLAflagshipStrategic or Co-development Partner · 8 February 2026TESLA unveiled its 'Kala Car' as the brand's first public showcase in Surat during the 11th Dumas Art Project. The collaboration marked a rare intersection of technology, sustainability, and art, elevating the cultural profile of the event.
• SUGAR CosmeticsflagshipGTM or Marketing Partner · 23 September 2025SUGAR Cosmetics partnered with VR Surat for Glam Garba Evening, featuring a live Navratri makeup masterclass and Meet & Greet with CEO & Co-founder Vineeta Singh. The event boosted in-store sales and created premium brand engagement.
• TEDxflagshipStrategic or Co-development Partner · 31 August 2025VR Surat hosted TEDxSurat Salon - a high-impact event centered on men's fashion with inspiring speakers, trend forecasting, and premium networking for HNIs and changemakers.
• Surat Chess AssociationcoreStrategic or Co-development Partner · 20 July 2025Chess Masters 2.0 tournament in partnership with Surat Chess Association on International Chess Day with 250+ participants across four categories. Cash prizes for winners reinforced VR Surat's role as a hub for talent.
• Oriole EntertainmentcoreGTM or Marketing Partner · 17 May 2025Oriole Entertainment collaborated for Splash & Play weekend featuring water-themed fun with rides, colorful face art, and character appearances like Hulk and Spiderman.
• DysoncoreGTM or Marketing Partner · 16 May 2025Dyson served as styling partner for International Mother's Day Fashion Show, contributing to the fashion, emotion, and elegance of the celebration. Part of anniversary celebrations with premium brand associations.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Nexus Select Trust: India's largest listed retail REIT operating 18+ Grade A malls (~13M sq ft). Comparable as a broader platform with overlapping tenant strategy, asset management discipline, and benchmarking on mall operating performance.

Direct peers

• Inorbit Mall: Operator of premium lifestyle malls in Mumbai, Hyderabad, Bangalore, and other cities. Comparable as a Grade A mall operator focused on premium international brands and integrated shopping-dining-entertainment experiences.
• DLF Mall of India: Large-format Grade A lifestyle mall in Gurgaon (~2M sq ft) housing premium retail, F&B, and entertainment. Comparable to VR Surat in positioning as a curated integrated lifestyle destination anchored by major international and Indian brands.
• Phoenix Marketcity: Premium lifestyle mall operator with multiple India locations (Mumbai, Bangalore, Chennai). Comparable as a Grade A regional mall with similar tenant mix, experiential programming, and integrated retail-F&B-entertainment positioning.
• LuLu International Shopping Mall: Large-format Grade A lifestyle mall with India locations (Lucknow, Hyderabad, Trivandrum, Kochi). Comparable as a regional premium retail destination housing international and domestic brand anchors.
• Select Citywalk: Premium lifestyle mall in Delhi (Saket) housing international luxury and high-street brands. Comparable in positioning as a premium integrated lifestyle destination with similar F&B and entertainment mix.
• R City Mall: Mumbai-based Grade A lifestyle mall (~1.5M sq ft) housing fashion, F&B, entertainment, and multiplex tenants. Comparable as a premium lifestyle destination targeting similar affluent urban consumers.
• Pacific Mall: Grade A lifestyle mall in Delhi/NCR with retail, F&B, and entertainment. Comparable in offering a curated mix of international and domestic brands with strong experiential programming.

Regional players

• World Trade Park: Jaipur-based Grade A lifestyle mall with premium retail, dining, and entertainment anchors. Comparable as a large-city premium mall serving affluent North-Indian consumers with similar tenant positioning.
• AlphaOne Mall: Premium lifestyle mall in Ahmedabad (Vastrapur) operated by Nexus. Comparable as a Gujarat-based Grade A mall with similar tenant mix, affluent catchment, and tier-1/tier-2 city positioning.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks4 records

Key highlights7 records

Customer concentration

• Xx.com/vrsurat
• YouTubeyoutube.com/user/vrsurat
• Facebookfacebook.com/vrsurat
• Instagraminstagram.com/vrsurat
• LinkedInlinkedin.com/company/vr-surat---india

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VR Surat - India