DRMumbai: TajGVK Hotels & Resorts Ltd., reported its financials for the quarter ending June 30, 2018. Dr. G V K Reddy, Chairman, TajGVK Hotels & Resorts Ltd., said, “We have had a great start to the year with the positive results of Q1. We remain optimistic about the future based on current market trends and expect the growth momentum to continue in our portfolio.”
Financial Results for Q1
- Revenue at Rs. 72.8 crore (22 per cent) YoY
- PAT Rs. 4.5 crore (131 per cent) YoY (includes excess provision of taxes of earlier years Rs. 2.52 crore)
- Expenses for the quarter ending June 30 include an amount of Rs. 662 lakh towards renovation expenses of the rooms and public areas at Taj Deccan.
Key Highlights
- Taj Krishna, Hyderabad, has completed the first phase of renovation of 76 rooms. The second phase which includes 78 rooms is commencing in August 2018.
- Firdaus, the award-winning Indian specialty restaurant at Taj Krishna, has been renovated and will open to guests shortly
- Syn, the popular resto-bar at Taj Deccan serving pan-Asian cuisine, has re-opened to guests after a complete refurbishment
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