Taj GVK Hotels net up 6.42 per cent

Income was up 4.79 per cent to Rs 71.65 crore from Rs 68.37 crore during the same period last year. EPS for the quarter stood at Rs 3.19 against Rs 2.99.

For the year ended March 2008, net profit was up 9.48 per cent to Rs 70.42 crore from Rs 64.32 crore last year. Its total Income was up 6.14 per cent to Rs 259.12 crore from Rs 244.11 crore last year.

 

While the hotels at Hyderabad achieved an occupancy of 87 per cent, for Taj Chandigarh Hotel in Chandigarh it was 81 per cent during the quarter under review.

The company has lined up Rs 500 crore for its various initiatives. The Rs 160-crore hotel project in Chennai on Taj Mount Road is nearing completion and will be operational by this May. The Taj Deccan at Hyderabad is being renovated to add a new restaurant, a restobar and 23 guest rooms at a cost of Rs 25 crore.

Besides, the proposal to add 180 rooms to the hotel at a cost of Rs 100 crore was awaiting statutory approvals. Civil works on a new five-star hotel at Begumpet, in Hyderabad, are on. The new hotel will have 189 rooms and is expected to be ready by December 2009.

Meanwhile, the company is proposing to construct 43 service apartments, 7,000 sft spa and an additional car parking at an estimated cost of Rs 75 crore at Taj Krishna in Hyderabad, a company press release stated.