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TajGVK Hotels & Resorts Ltd.

BSE: 532390 Sector: Services
NSE: TAJGVK ISIN Code: INE586B01026
BSE 00:00 | 14 Oct 147.90 -1.85
(-1.24%)
OPEN

152.10

HIGH

152.90

LOW

147.05

NSE 00:00 | 14 Oct 147.80 -2.00
(-1.34%)
OPEN

152.50

HIGH

153.00

LOW

147.00

OPEN 152.10
PREVIOUS CLOSE 149.75
VOLUME 65804
52-Week high 154.30
52-Week low 102.20
P/E
Mkt Cap.(Rs cr) 927
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 152.10
CLOSE 149.75
VOLUME 65804
52-Week high 154.30
52-Week low 102.20
P/E
Mkt Cap.(Rs cr) 927
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

TajGVK Hotels & Resorts Ltd. (TAJGVK) - Chairman Speech

Company chairman speech

Dear Shareholders

TAJGVK is happy to present the 25th Annual Report of your company. The company and thebusiness environment was on track till the onset of Covid-19 Pandemic in the beginning ofCY2020. The evolving situation around the pandemic has created unforeseen pressure onglobal economies and more importantly on the Aviation Hospitality Tourism andtravel-related industries are the worst hit. We acknowledge the fact that the companyfaces significant degree of uncertainty with regard to the recovery of the Hospitalitysector in near future . Having said that we are confident that we will over come thesechallenging times and bounce back strongly and leverage our strengths to be a strongplayer in the markets where our company's operates in the post COVID-19 period.

While in the midst of the pandemic outbreak we are making every step possible toensure the safety of our guests and people. We would like to assure our stakeholders thatin the present scenario we remain resolute in our determination to see a tough phase passthrough. Taking a look at the year under review the hospitality industry began the yearon a high note with the country moving up in the World Economic Forum's Travel andTourism Competitive Index to be ranked 34th in 2019 which is several notches higher thanthe earlier rank of 65th in 2014. The Government of India also undertook a series ofmeasures to catalyse the growth of domestic tourism under the Swadesh Darshan scheme. TheGoods and Services Tax (GST) Council also approved reduction in tax rate applicable onhotel room tariffs a move expected to result in increase in demand.

At TAJGVK we followed through with most of our renovation plans for the year andrecorded a revenue of Rs. 313.84 crore and EBITDA margin of 24.01%. The company hasundertaken renovations at Taj Krishna and Taj Deccan Hyderabad and have completed 5floors in Taj Krishna and with this 80% of rooms are renovated rooms and the hotel isbetter positioned in the CBD market offering for Meetings Incentives Conferences andExhibitions (MICE) including Destination weddings. We are investing in our people'sabilities to deliver a safe secure futuristic experience of hospitality to our guestsand patrons in addition to delivering on their expectation of warmth superior comfortand elegant luxury. We look forward to stronger support from our guests and patronstowards riding out these challenging times together with our partners to emerge everstronger in the future. We will do our best possible to support our people and thepartners and vendors comprising our network in this difficult scenario.

Regards
G. Indira Krishna Reddy
Managing Director

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