EIH surged 5.70% to Rs 474.40 after its board approved the construction of an Oberoi Luxury Resort at Cavelossim Beach in South Goa with an investment of Rs 421 crore.
The luxury resort will have 90 rooms & suites catering to domestic and international travelers on a 52 acres site owned by the company.The estimated investment for the project is Rs 421 crore and the resort is expected to be operational from 1 October 2027.
The company stated that it has further entered into a hotel management agreement for a second project as a luxurious Oberoi Resort at Bogmalo Beach in South Goa.
EIH owns and operates an exceptional portfolio of hotels and resorts under the prestigious 'Oberoi' and 'Trident' brands in India and abroad.
The companys consolidated net profit jumped 52.2% to Rs 229.94 crore on 26.41% increase in revenue from operations to Rs 741.26 crore in Q3 FY24 over Q3 FY23.
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