Business Daily from THE HINDU group of publications
Wednesday, Oct 08, 2008
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Wednesday, Oct 08, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Marketing
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Strategy Variety - Resorts & Amusement Parks Country Club opens third Chennai property Our Bureau Chennai, Oct. 7 The Rs 310-crore Country Club India Ltd, a leisure infrastructure company based in Hyderabad, has launched the first phase of its third property in Chennai – Country Club Kool Jade Resort. Located on East Coast Road, the property has a multi-cuisine restaurant (Spice), spa and health club (Moksh) and a pub (Pulse). However, on completion, which is expected to take another couple of months, the beach resort will have a total of 50,000 sq. ft. of built-up area with 32 rooms (including eight suites), tennis and volleyball courts, lounge bar, coffee shop, party lawns, barbeque restaurant, conference rooms and kids’ play area, says Mr Y. Rajeev Reddy, Chairman and Managing Director of the company. Early in March, Country Club acquired this three-acre property for a consideration of Rs 16 crore and earmarked another Rs 30 crore investment to develop it. The company has a national presence with a chain of 112 clubs (50 own clubs and 162 franchised properties) and has also been affiliated to RCI. Posts Rs 20 cr netThe BSE-listed company closed 2007-08 with a net profit of Rs 65 crore on a turnover of Rs 314 crore. EPS works out to Rs 44.57. For the first quarter of the current fiscal, it posted a net profit of Rs 20 crore on a turnover of Rs 111 crore. More Stories on : Strategy | Resorts & Amusement Parks | New Projects
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