Sayaji Hotels spurts after subsidiary signs eight deals to expand properties across India

Sayaji Hotels jumped 4.28% to Rs 240.95 after its wholly-owned subsidiary, Sayaji Hotels Management (SHML) signed and entered into eight management agreements/ franchise agreements/ term sheets for the expansion of SHML by having new properties.

Sayaji Hotels Management (SHML), the wholly-owned subsidiary of Sayaji Hotels, will have properties in: Pithampur (Madhya Pradesh), Rewa (Madhya Pradesh), Sangli (Maharashtra), Aurangabad (Maharashtra), Dwarka (Gujarat), Satara (Maharashtra), Lonavla (Maharashtra) and Sarola (Maharashtra).

On a consolidated basis, Sayaji Hotels' net loss stood at Rs 2.98 crore in Q2 FY22 as compared to a net loss of Rs 4.48 crore in Q2 FY21. Net sales stood at Rs 37.05 crore in Q2 September 2021, registering a 316.80% growth from Rs 8.89 crore in Q2 September 2020.

 

Sayaji Hotels is engaged in hoteliering business. The company provides hotel, restaurant and banquet services.

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