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TAJGVK Hotels & Resorts Ltd on Monday (October 13) announced that it has signed a Hotel Management Agreement with Indian Hotels Company Limited (IHCL) for its upcoming five-star luxury hotel in Yelahanka, Bengaluru.
Under the agreement, IHCL will manage the new property for a period of 20 years from the date the hotel opens.
First Quarter Results
TajGVK Hotels reported a 10.6% rise in its consolidated profit after tax to ₹28.6 crore for the fourth quarter of FY25. The company had reported a PAT of ₹25.85 crore in the January-March quarter of FY24.
Also Read: Indian Hotels targets 12-15% revenue growth, ₹1,000 crore from new businesses in FY26
Its total revenue for the quarter stood at ₹130.59 crore against ₹116.69 crore a year ago. The total expenses in the quarter also rose to ₹96.48 crore from ₹81.59 crore a year ago.
TAJGVK Hotels & Resorts Limited (TajGVK) is a joint venture formed through a strategic alliance between Hyderabad-based GVK Group and Indian Hotels Company Limited (IHCL) in 1999.
GVK Group is a multi-product and multi-location business conglomerate with several integrated companies in India and abroad. IHCL is a Tata enterprise with a chain of hotels, owning the Taj Group of Hotels, and manages and operates various hotels across the country and abroad.
Also Read: Hotel stocks book an extended stay in investor portfolios
The company owns and operates three five-star hotels in Hyderabad and one five-star hotel each in the cities of Chennai, Chandigarh and one five-star luxury hotel in Mumbai through a joint venture company — Green Woods Palaces and Resorts Pvt Ltd.
Shares of TAJ GVK Hotels and Resorts Ltd ended at ₹418.05, up by ₹4.20, or 1.01%, on the BSE.
Under the agreement, IHCL will manage the new property for a period of 20 years from the date the hotel opens.
First Quarter Results
TajGVK Hotels reported a 10.6% rise in its consolidated profit after tax to ₹28.6 crore for the fourth quarter of FY25. The company had reported a PAT of ₹25.85 crore in the January-March quarter of FY24.
Also Read: Indian Hotels targets 12-15% revenue growth, ₹1,000 crore from new businesses in FY26
Its total revenue for the quarter stood at ₹130.59 crore against ₹116.69 crore a year ago. The total expenses in the quarter also rose to ₹96.48 crore from ₹81.59 crore a year ago.
TAJGVK Hotels & Resorts Limited (TajGVK) is a joint venture formed through a strategic alliance between Hyderabad-based GVK Group and Indian Hotels Company Limited (IHCL) in 1999.
GVK Group is a multi-product and multi-location business conglomerate with several integrated companies in India and abroad. IHCL is a Tata enterprise with a chain of hotels, owning the Taj Group of Hotels, and manages and operates various hotels across the country and abroad.
Also Read: Hotel stocks book an extended stay in investor portfolios
The company owns and operates three five-star hotels in Hyderabad and one five-star hotel each in the cities of Chennai, Chandigarh and one five-star luxury hotel in Mumbai through a joint venture company — Green Woods Palaces and Resorts Pvt Ltd.
Shares of TAJ GVK Hotels and Resorts Ltd ended at ₹418.05, up by ₹4.20, or 1.01%, on the BSE.
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