At the Hero Mind mine Summit 2012, Patu Keswani, Chairman and Managing Director of Lemon Tree Hotels, shared, "By 2020 we plan to open 100 hotels in India with an inventory of around 10,000 rooms." The company is gearing up to establish these hotels across India, significantly increasing its total room capacity from approximately 2,000 to a future total of 10,000. In conjunction with this ambitious expansion, the company has decided to pause its plans to venture into real estate in collaboration with US-based investment firm Warburg Pincus. While Keswani confirmed the addition of two new hotels this year—details on the required investment for this expansion remain undisclosed—he also hinted at potential fundraising strategies, including seeking capital from financial institutions or possibly considering a public listing within the next two to three years. "In the next 2-3 years, we might look at public listing," stated Keswani. Delving deeper into the halted real estate initiative, he remarked, "We have put that housing project in cold storage. It is not the good time to start a project like that." Last year, the company had disclosed intentions to enter the real estate market with plans to invest over Rs 1,400 crore in partnership with Warburg Pincus for housing projects. Keswani elucidated, "We will wait for the Indian economy to become better and interest rates to come down…I do not see the situation improving in another 2 years," emphasizing a cautious approach to the real estate sector amidst the uncertain economic landscape.