Companies

Country Club gearing to expand membership base

Nivedita Ganguly Mumbai | Updated on June 28, 2011 Published on June 28, 2011

The concept of recreation and entertainment has undergone a considerable change in India in the past five years, with a boom witnessed in entertainment centres and theme parks.

To cash in and combine this growth in recreation with tourism promotion, Country Club (India) Ltd, a leisure infrastructure company that operates a chain of 50 clubs across 42 cities under the brand - Country Club, is gearing up to expand its horizon in Qatar, Bahrain, Malaysia and Nairobi.

“We have a membership base of 2.5 lakh. We aim to push up the numbers to one million mark over the next 10 years by striking a balance between profitability and member-satisfaction,” Mr Y Siddharth Reddy, Joint Managing Director of CCIL told Business Line.

“We are also focussing on our overseas expansion, especially in the Middle East and the South Asian nations, and expect to start operations in these regions within a year's time,” Mr Reddy said.

The company reported a 98 per cent growth in net profit at Rs 14.39 crore for the fourth quarter ended March 31, 2011 compared to the same period last fiscal. The company's net sales grew by 31.45 per cent at Rs 92 crore in the quarter ended March 31, compared to Rs 70 crore in the corresponding quarter last fiscal.

Net profit for the fiscal witnessed a growth of 9.41 per cent at Rs 44.06 crore against Rs 40.27 crore posted in FY 10. Total income for the fiscal year ended March 31, 2011, grew by 7.23 per cent to Rs 321.92 crore from Rs 300.21 crore in the previous fiscal.

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Published on June 28, 2011
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