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BSEL bags two hospitality projects worth Rs 100 cr

BSEL bags two hospitality projects worth Rs 100 cr
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First Published: Tue, Mar 27 2007. 05 48 PM IST
Updated: Tue, Mar 27 2007. 05 48 PM IST
PTI
BSEL Infrastructure Realty Ltd has bagged two projects for developing a hotel and a tourist facility in Gujarat with a total value of Rs100 crore.
One project involves the development of a star hotel near Sardar Sarovar dam, about 80 km from Vadodara, while the other is a world-class tourist facility near Ahmedabad.
With the addition of current projects of around 5 lakh square feet area, BSEL’s land bank currently stands at around one crore square feet, the company said in a statement.
Besides, there are developable areas in Mumbai, Nagpur, Pune, Gujarat and Goa in India and Dubai in the UAE.The hotel project, scheduled to commence next month, is expected to be completed within 15 months and is projected to contribute Rs 100 crore plus to the company’s topline by 2010.
“We would like to leverage our construction skills in the hospitality sector due to the good margins and the consistent returns expected on the back of a 15 per cent growth in tourism,” BSEL’s Managing Director, Dharmendra Raichura, said.
Other projects of the company in hospitality include a Rs 156 crore contract for developing hotel and commercial space at the Shivchhatrapati Sports Complex in Pune.
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First Published: Tue, Mar 27 2007. 05 48 PM IST
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