In a surprising turn of events, East India Hotels Limited (EIH), the parent company of the Oberoi Group of Hotels, has decided to pull the plug on its ₹254 crore investment in a mixed-use project in Pune. The project, which was set to include a 175-key Trident Hotel and commercial space, would have cost a total of ₹972 crore.
Despite this setback, EIH has reported strong financial performance for the third quarter, with a 20.5% increase in net profit and an 8% rise in revenue. The company’s decision to halt the Pune investment reflects its careful and strategic approach to business, ensuring that investments align with long-term goals.
This move highlights EIH’s commitment to adapting to the ever-changing business landscape and focusing on opportunities that will drive positive growth. While the decision may have come as a surprise, it underscores the company’s dedication to making sound financial decisions and prioritizing sustainable growth.
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