Lakeland Hotel Limited was incorporated as private Limited Company on 1st Sept 1992. The company was converted into a public limited company on 18th November 1995. The Company has been Promoted by Shri Sikandar Hafiz Khan and Shri Mohammed Hafiz Khan of the "Reliable Group" of Bhopal. In Oct, 1996 the company came out with the public issue of 65,00,000 Equity Shares of Rs 10 each for cash at par aggregating Rs 650 lacs for setting up an "Heritage Hotel" with 60 rooms and 5 star facilities at Bhopal. During the year 1998-99, the hotel unit has partially started commercial operations w.e.f. 15th April, 1998 and due to the change in the project scheme and addition of certain facilities the total cost is estimated at Rs.2400 lacs. The company registered a growth of 12.46% in the year 1999-2000, i.e. Rs.230.67 lacs as against Rs.205.11 lacs in the previous year.