Kanatal Resorts and Spa Private Ltd, which has recently set up a new property worth Rs 25 crore in Uttaranchal, is considering setting up a similar resort at an offbeat location.
Besides, the company will also come up with a five-star hotel near Dehradun. The construction for the same is likely to start from the mid 2009,which is expected to get functional by the end of 2011.
The Kanatal resort has witnessed occupancy around 52 per cent from June to November and has generated revenue of Rs 1.5 crore till now.
Deepak Mittal managing director, Kanatal Resort said, “Tourism industry now a days is not only about staying in a resort or a hotel. The concept has expanded and people are looking forward for change with additional services, better quality and value for their money. Our resort has catered to various upmarket elites and foreign nationals since its opening. To attract more number of guests all across India and foreign nations in the future, we will expand the concept of spa by introducing various spa packages for the guests travelling to Himalayas. Our luxury spa getaways will attract many visitors to the area and from abroad”.
“Ananda spa is no doubt a great success story in India. But Kanatal Resort and Spa is here to provide our Indian friends with same comfort and therapies, which are available internationally giving the best and the latest healing therapies,” Mittal added.
Wednesday, December 31, 2008
Maytas selling assets, wants to raise $500 million
Maytas Properties, the Hyderabad-based real estate firm linked to Satyam Computer Services chairman S Ramalinga Raju’s family, has reportedly approached consulting firms and bankers to chart out a $500 million (about Rs 2,350-crore) fund-raising plan through divestments in key identified assets. Maytas’ fund-raising exercise would see the property firm bring in equity partners in some of its ambitious projects or sell some of its assets spread across most southern states, a business daily reported.
However, a Maytas spokesperson has declined and said: “We cannot comment on market speculation.”
Kotak Realty, a real estate fund promoted by Kotak Mahindra Group, is in talks with Maytas to pick up equity in Maytas’ warehousing project. Confirming the development, Kotak Realty Fund CEO S Srinivasan said: “We are in talks, (but) no deal has been signed so far.”
Some of the assets that could be used to unlock cash, include the group’s three SEZs, an ambitious warehousing project, property developments in various cities and outright sale of land parcels in and around Hyderabad, the report added.
Meanwhile, the firm has already put on block over 60 acres of land situated opposite to the Satyam Technology Centre in the northern outskirts of Hyderabad. With prevailing land valuations in the region at around Rs 4 crore per acre, the total value of this deal could reach Rs 250 crore. Maytas has about 350 acres of land in Nagpur, Maharashtra, as part of its land bank and for 25 upcoming projects in Andhra Pradesh and Tamil Nadu.
The funds from some of these equity dilutions are expected to meet the promoters’ equity contribution in the Rs 12,000 crore Hyderabad Metro Rail project that has been undertaken by the group company Maytas Infra, quoted sources close to the development in the report.
Earlier, Satyam has called off the purchase of Maytas Properties, for $1.3 billion and a 51 per cent stake in Maytas Infra, citing "the market reaction to the decision.
However, a Maytas spokesperson has declined and said: “We cannot comment on market speculation.”
Kotak Realty, a real estate fund promoted by Kotak Mahindra Group, is in talks with Maytas to pick up equity in Maytas’ warehousing project. Confirming the development, Kotak Realty Fund CEO S Srinivasan said: “We are in talks, (but) no deal has been signed so far.”
Some of the assets that could be used to unlock cash, include the group’s three SEZs, an ambitious warehousing project, property developments in various cities and outright sale of land parcels in and around Hyderabad, the report added.
Meanwhile, the firm has already put on block over 60 acres of land situated opposite to the Satyam Technology Centre in the northern outskirts of Hyderabad. With prevailing land valuations in the region at around Rs 4 crore per acre, the total value of this deal could reach Rs 250 crore. Maytas has about 350 acres of land in Nagpur, Maharashtra, as part of its land bank and for 25 upcoming projects in Andhra Pradesh and Tamil Nadu.
The funds from some of these equity dilutions are expected to meet the promoters’ equity contribution in the Rs 12,000 crore Hyderabad Metro Rail project that has been undertaken by the group company Maytas Infra, quoted sources close to the development in the report.
Earlier, Satyam has called off the purchase of Maytas Properties, for $1.3 billion and a 51 per cent stake in Maytas Infra, citing "the market reaction to the decision.
Subscribe to:
Posts (Atom)
Posts
