EIH sells Darjeeling property for Rs11 crore

Kolkata: EIH Ltd, the company that runs hotels under the Oberoi and Trident brands, on Wednesday said it had sold its 4-acre property in Darjeeling in West Bengal for ₹ 11 crore.

The property was damaged in fire and EIH couldn’t rebuild and start a hotel for at least 30 years. Availability of water, too, was a major constraint. Vice-chairman S.S. Mukerji said the price reflects the value of the land only. Thanks to this extraordinary income, net profit in the June quarter jumped to ₹ 19.86 crore compared with ₹ 6.41 crore a year ago.

The company’s revenue in the June quarter grew 6.4% over the same period last year to ₹ 302.42 crore.