TAJGVK profit up 40% in Q3 FY24

HYDERABAD: TAJGVK Hotels & Resorts Limited reported 40 per cent increase in standalone profit after tax (PAT) at Rs 24.21 crore in October-December quarter (Q3) of FY 2023-24, as against Rs 17.32 crore in the same quarter of last fiscal. The company’s standalone revenue has grown 6 per cent at Rs 111.93 crore in Q3 FY24 when compared to Rs 105.56 crore in the corresponding quarter previous year. Dr GVK Reddy, Chairman of 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 joint venture company which operates Taj Santacruz, reported an income of Rs 61.70 crore with an EBITDA of Rs 30.21 crore and PAT of Rs 13.40 crore in Q3 FY24 and an income of Rs 160 crore with an EBITDA of Rs 72 crore and PAT of Rs 26.41 crore for the nine-month period in 2023.