NewsEarningsTAJGVK Hotels Expands Footprint with New Luxury Property in Bengaluru, Reports Strong Q4 ResultsTAJGVK Hotels Expands Footprint with New Luxury Property in Bengaluru, Reports Strong Q4 Results
TAJGVK Hotels & Resorts Ltd has signed a 20-year management agreement with IHCL for a new five-star luxury hotel in Yelahanka, Bengaluru. The company also reported robust Q4 financial results, with consolidated profit after tax increasing by 10.64% to ₹28.60 crore and total revenue rising by 11.91% to ₹130.59 crore compared to the previous year. TAJGVK, a joint venture between GVK Group and IHCL, currently operates seven five-star hotels across major Indian cities.
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TAJGVK Hotels & Resorts Ltd, a joint venture between GVK Group and Indian Hotels Company Limited (IHCL), has announced a significant expansion of its portfolio with a new luxury hotel in Bengaluru. The company has also reported robust financial results for the fourth quarter of the fiscal year.
New Hotel Management Agreement
TAJGVK Hotels & Resorts Ltd has signed a Hotel Management Agreement with IHCL for a new five-star luxury hotel in Yelahanka, Bengaluru. According to the company's filing with the stock exchanges:
- Location: Yelahanka, Bengaluru
- Hotel Category: 5-star luxury
- Management: IHCL will manage the property
- Agreement Duration: 20 years from the date of opening
This strategic move aligns with TAJGVK's expansion plans and strengthens its presence in one of India's key metropolitan cities.
Q4 Financial Performance
The company has reported strong financial results for the fourth quarter:
| Metric | Q4 (Current Year) | Q4 (Previous Year) | Year-on-Year Change |
|---|---|---|---|
| Consolidated Profit After Tax | ₹28.60 crore | ₹25.85 crore | 10.64% |
| Total Revenue | ₹130.59 crore | ₹116.69 crore | 11.91% |
| Expenses | ₹96.48 crore | ₹81.59 crore | 18.25% |
The financial results demonstrate TAJGVK's robust performance, with significant growth in both revenue and profit despite an increase in expenses.
Company Overview
TAJGVK Hotels & Resorts Ltd is a well-established player in the Indian hospitality sector:
- Formation: Joint venture between GVK Group and IHCL, established in 1999
- Current Portfolio: Operates seven five-star hotels across major Indian cities
- Stock Performance: Shares closed at ₹418.05, up 1.01%
The company's latest expansion and strong financial results reflect its continued growth and solid position in the luxury hospitality market.
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