ITC Hotels Announces New Investment in Visakhapatnam Alongside Strong Quarterly Performance

ITC Hotels has approved capital expenditure for the construction of a new hotel in Visakhapatnam, reinforcing its expansion strategy in key markets. The announcement comes as the company reports solid financial results for the March quarter, reflecting steady revenue growth and profitability.  

 

Business update:  

 

- The company has allocated 3.28 billion rupees for the development of its upcoming hotel in Visakhapatnam, signaling confidence in the region’s hospitality sector.  

- Consolidated revenue from operations for the March quarter reached 10.61 billion rupees, demonstrating sustained business momentum.  

- Net profit for the quarter stood at 2.57 billion rupees, highlighting strong financial performance.  

 

The investment in Visakhapatnam aligns with ITC Hotels’ broader strategy to enhance its presence in high-potential locations while maintaining operational efficiency.  

 

Sources: Economic Times, Business Standard, Moneycontrol.