Business Daily from THE HINDU group of publications
Thursday, Aug 03, 2006
Business Daily from THE HINDU group of publications Thursday, Aug 03, 2006 |
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Corporate
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New Projects States - Andhra Pradesh Taj GVK lines up five-star hotel projects Our Bureau
Hyderabad , Aug. 2 The Taj GVK Group is developing new star hotels in Hyderabad, Chennai and Bangalore, as part of its expansion across the country. It is hopeful of completing the Chennai hotel project by March 2007. "The Rs 125-crore hotel will be a trendy one with contemporary facilities," said Ms Shalini Bhupal, Executive Director. The company had started the initial excavation works at the new five-star hotel project site at Begumpet in Hyderabad. The 189-room hotel was being taken up at a cost of Rs 70 crore and expected to be ready by 2008. She said the company was in the process of acquiring land in Bangalore to set up a five-star hotel. The Taj GVK has three hotels in the city - Taj Krishna, Taj Residency and Taj Banjara. It is awaiting approvals for the proposed expansion of Taj Krishna, where it proposes to add 135 guest rooms, besides construction of 75 apartments. The outlay for the expansion was put at Rs 120 crore. The company was also finalising plans for renovating Taj Residency at a cost of Rs 100 crore.
PAT up 99 pc in Q1
On the first quarter performance, the Executive Director said the company registered a total income of Rs 56.8 crore against Rs 33.85 crore in the corresponding quarter last year, showing a growth of 68 per cent. The profit after tax rose to Rs 14.79 crore (Rs 7.45 crore), showing an increase of 99 per cent.
More Stories on : New Projects | Hotels | Andhra Pradesh
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