Taj GVK draws up expansion plans
The Hindu Business Line — August 4, 2006

The Taj GVK Group is developing new star hotels in Hyderabad, Chennai and Bangalore, as part of its expansion across the country.

It is hopeful of completing the Chennai hotel project by March 2007. "The Rs 125-crore hotel will be a trendy one with contemporary facilities," said Ms Shalini Bhupal, executive director.

The company had started the initial excavation works at the new five-star hotel project site at Begumpet in Hyderabad. She said the company was in the process of acquiring land in Bangalore to set up a five-star hotel.

The Taj GVK has three hotels in the city - Taj Krishna, Taj Residency and Taj Banjara.

It is awaiting approvals for the proposed expansion of Taj Krishna, where it proposes to add 135 guest rooms, besides construction of 75 apartments.

PAT up 99 per cent in Q1

On the first quarter performance, the executive director said the company registered a total income of Rs 56.8 crore against Rs 33.85 crore in the corresponding quarter last year, showing a growth of 68 per cent.

The profit after tax stood at Rs 14.79 crore (Rs 7.45 crore), showing an increase of 99 per cent.