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Business Economy

Taj Gvk Hotels net profit up by 234 pc to Rs 3 cr in Q2 in FY 19-20

Hyderabad, Nov 8 (UNI) Taj GVK Hotels and Resorts Ltd, on Friday reported that its Profit After Tax (PAT) was increased by 234 per cent to Rs 3 crore against Rs 1.28 crore in the corresponding quarter in previous year , for the second quarter ending September 30.
Commenting on the results, TAJ GVK Hotels and Resorts Ltd Chairman Dr GVK Reddy said, "In line with Aspiration 2022, the company has delivered healthy growth across all key metrics."
Debt has also come down to Rs 179 crores. We remain optimistic about the coming quarters and will continue to focus on maximizing revenue and profits, he claimed.
Greenwoods Palaces and Resorts Private Limited – a JV company which operates Taj Santacruz has performed well during the quarter and the company reported a growth of around 9 per cent and PAT of Rs 0.70 crore, he added.
At Taj Krishna in Hyderabad, 156 rooms have been renovated and 44 rooms will be completed by December 2019 while Taj Deccan has completed a soft refurbishment of 126 rooms and another 25 rooms will be completed by December 2019, the company said in a statement.
The company owns 6 hotels – Taj Krishna , Taj Deccan; Taj Banjarad; Vivanta ( all in Hyderabad ); Taj Club House in Chennai and Taj in Chandigarh.
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Avaada Group’s Clean Energy Business receives USD 15 Million

22 Nov 2019 | 11:39 PM

Mumbai, Nov 21 (UNI) Solar project developer Avaada Energy Pvt Ltd received USD 15
Million in equity investments from French development finance institution Proparco for part financing its renewable energy portfolio of the targeted 5 GW capacity.

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Startup Punjab inks MoU with AIC ISB to setup startup acceleration program

22 Nov 2019 | 8:34 PM

Chandigarh, Nov 22 (UNI) In a major push to boost the startup ecosystem in the state, Punjab Government, through its Startup Punjab cell, signed a MoU with the Atal Incubation Centre (AIC) at the Indian School of Business Mohali to setup The Enable Start-up Track Acceleration program (ESTAC).

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BHFL to host 'Homes and Loans' festival in Hyderabad from Nov 23

22 Nov 2019 | 8:31 PM

Hyderabad, Nov 22 (UNI) Bajaj Housing Finance Limited (BHFL), a subsidiary of Bajaj finance Limited, is organising a Property event in Hyderabad bringing real estate sellers and the buyers together from November 23 to 24.

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Sensex drops 215 76 pts

Sensex drops 215 76 pts

22 Nov 2019 | 8:31 PM

Mumbai, Nov 22 (UNI) The benchmark index of Bombay Stock Exchange (BSE) on Friday slipped further by 215.76 points to settle at 40,359.41, following heavy selling in FMCG, Finance, Telecom, Bankex and Capital Goods stocks. The National Stock Exchange (NSE) too fell by 54 points to 11,914.40.

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Gujarat-based Root's Decor files for patent of Virtual Reality-based system

22 Nov 2019 | 8:01 PM

Ahmadabad, Nov 22 (UNI) Gujarat based leading realty and home decor solutions provider company Root’s Décor India Private Limited has launched India's first interactive Virtual Reality, Mixed Reality and Artificial Intelligence (VR/MR/AI)-based system solution, which helps home buyers and realty developers to visualise their project design, space layout planning and decor theme in real life viewing, before its execution.

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