Esthell group to invest Rs 300 crore by 2012

Chennai-based Esthell Group of Hotels is planning to invest around Rs 300 crore by 2011-12 in various hotel and commercial complex projects. The proposed investment is to be funded through debt and internal accruals.

Speaking to reporters after launching the group's Rs 50-crore resort project at Thirukazhukundram near Mahabalipuram, S Xavier Britto, founder chairman, Esthell group, said that the group would build another 80 accommodation units in the resort in a phased manner. It would involve an investment of around Rs 40 crore.

The other investments includes a mall at Velacherry with an investment of around Rs 100 crore, and a hotel with around 80 rooms which an outlay of Rs 45 crore.