HYDERABAD, FEBRUARY 5, 2024 (GPN): TAJGVK Hotels and Resorts Limited (TAJGVK) reported its results for the third quarter ending December 31, 2023 

STANDALONE FINANCIAL RESULTS FOR QUARTER ENDING DECEMBER 31, 2023

STANDALONE FINANCIAL RESULTS FOR THE NINE MONTHS ENDING DECEMBER 31, 2023

Dr. GVK Reddy, Chairman TAJGVK Hotels & Resorts Ltd said “The company had reported an all-time high Q3 performance driven by sustained demand. In line with our strategy of maintaining leadership in the markets we operate in, during this fiscal an extensive renovation of the guest rooms and the all-day diner at Taj Deccan is now completed.”

Greenwoods Palaces & Resorts Private Limited – A JV company which operates Taj Santacruz, reported an income of INR 61.70 Crore with an EBITDA of INR 30.21 Crore and PAT of Rs.13.40 Crore in Q3, FY23-24 and an income of INR 160 Crore with an EBITDA of INR 72 Crore and PAT of Rs. 26.41 Crore for the Nine Months ending December 2023. The Taj Santacruz hotel achieved the highest ever occupancy of 97% and RevPAR improvement of 15% over previous year for the Nine months ending December 2023. 

About TAJGVK Hotels & Resorts Limited 

TAJGVK has a portfolio of five hotels that includes Taj Krishna, Hyderabad, Taj Deccan, Hyderabad, Taj Club House Chennai, Taj Chandigarh and Vivanta Hyderabad, Begumpet. TAJGVK Hotels & Resorts Limited is a Joint venture between the GVK Group and The Indian Hotels Company Limited (IHCL). It also co-owns Taj Santacruz, Mumbai through its JV company, Greenwoods Palaces & Resorts Private Limited.Ends