Bangalore: Puravankara Projects, mulls to begin work on four to five hotels in the next one year with an investment of Rs 1,000 crore. On completion of the projects, the company will be managing an inventory of about 600 to 750 rooms. With land for the projects having already been purchased the company was in the final stages of alliances up with reputed brands for awarding the management contract. The first hotel, in the super luxury category, will be established in Cochin while other properties will be located in Chennai, Hyderabad, Bangalore and Coimbatore. Assisted by a 70 per cent increase in its revenue at Rs 150.52 crore during the quarter ended December 2007, Puravankara recorded a net profit of Rs 69.6 crore, an increase of 122 per cent over the same period in the previous year. The figures for the corresponding quarter of FY 2007 were Rs 84.35 crore and Rs 28.4 crore respectively.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment