Hospitality major EIH Ltd reported a net profit of ₹36.44 crore in Q4 of 2013-14 against ₹27.04 crore in the corresponding year-ago period. The full-year net profit stood at ₹95.04 crore (₹50.96 crore). It recommended a dividend of ₹1.10 for a share of ₹2.
SS Mukherji, Vice-Chairman and CEO, said the company plans a hotel, to be managed by a subsidiary, on a prime ocean front location in Casablanca, Morocco.
Construction of an ocean front Oberoi resort in Ajman, UAE project along with an 18-hole golf course is underway. The hotel is to be managed by a wholly owned overseas subsidiary.
An 84-room Oberoi, Marrakech (with branded villas for sale) is also under construction and will be managed by another wholly owned overseas subsidiary.