Juniper Hotels gains after inking pact with Jenipro Hotels to develop hotel/resort in Assam

Juniper Hotels added 2.75% to Rs 283.55 after the company executed a share purchase agreement with Jenipro Hotels and its selling shareholders to develop a 5 star hotel/resort in Kaziranga, Assam.

Jenipro Hotels main business activity is to purchase, construct, acquire or otherwise deal in hotels and related services and operates within Indian market.

The company will develop a 5 star hotel/resort of International Standard on Kaziranga Land which has been taken on lease by Jenipro from Assam Tourism Development Corporation to develop a tourism infrastructure under a public-private partnership (PP) model.

The company will acquire a 100% stake in Jenipro Hotels for a total consideration of Rs 2.74 crore, at Rs 2,747.43 per share.

Post acquisition, Jenipro Hotels Private will become wholly owned subsidiary of the company. The transaction is a related party transaction, as Juniper Investments, the promoter of the company, is also existing shareholder of Jenipro.

Juniper Hotels operates a luxury hotel chain under the Hyatt brand. The companys hotels and serviced apartments are classified under three distinct segments: the Grand Hyatt Mumbai Hotel and Residences and Andaz Delhi; upper upscale the Hyatt Delhi Residences, Hyatt Regency Ahmedabad, Hyatt Regency Lucknow and Hyatt Raipur; and upscale Hyatt Place Hampi.

The companys consolidated net profit surged 32.49 crore in Q3 FY25 as compared with Rs 3.54 crore in Q3 FY24. Net sales increased 6.9% YoY to Rs 252.50 crore during the quarter ended 31st December 2024.

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