Hotel Leela Venture rose 2.37% to Rs 34.55 at 10:18 IST on BSE on reports the firm plans adding seven new luxury hotels in the next three to five years.
The stock hit a high of Rs 36.25 and a low of Rs 34.50 so far during the day. The stock had a 52-week high of Rs 76.85 on 4 January 2008 and a 52-week low of Rs 28.90 on 16 July 2008.
The mid-cap hotel chain operator has an equity capital of Rs 75.56 crore. Face value per share is Rs 2.
The current price of Rs 34.55 discounts its Q1 June 2008 annualised EPS of Rs 3.54, by a PE multiple of 9.75.
According to reports, the firm plans to set up seven new luxury hotels at Udaipur, Jaipur, Delhi, Hyderabad, Agra, Pune and Chennai over the next three to five years. The company will invest Rs 2,000-crore to add 2,000 rooms at these new hotels.
Further, the company is also planning to set up a 300 room hotel in Mumbai. The land for the same has been leased from the Airport Authority of India and work would start soon. Leela's floating casino at Goa has also become operational, the reports added.
The net profit of Hotel Leela Venture rose 10.8% to Rs 33.43 crore on a 23.8% rise in sales to Rs 23.8 crore in Q1 June 2008 over Q1 June 2007.
Hotel Leela Venture owns, operates and manages hotels, palaces and resorts.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment