SAVERA INDUSTRIES LTD
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BSE Code:
512634
NSE Code:
SAVERA
Business Profile
Business Profile
Savera Industries (SAVERAIND) is engaged in the hospitality business and has diversified into floriculture. It was incorporated as a private limited company on Nov. 17, 1969, became a public limited company on Apr. 01, 1982 and got its present name on Dec. 15, 2006.
The company owns and operates The Savera, a 260-room, 4-Star hotel in Chennai, a pub in Bangalore, a pub and restaurant in Chennai. The Savera has positioned itself to cater to business travelers with nine conference halls to conduct seminars, meetings and business functions, banquet facilities to host wedding receptions, birthday parties, anniversaries and get-togethers. As part of its diversification into the floriculture business, an 85% stake was acquired in Elkhill Agrotech in Tamil Nadu, which started commercial operations in May 2007.
In FY`07, the company acquired one existing hotel property in Madurai and two properties in Coimbatore to develop as hotel properties. The Madurai project took off with a specialty restaurant and a permit room during the year with upgradation of rooms in progress. The Coimbatore projects are at the planning stage. It has launched two specialty restaurants in Hyderabad, one at Kukatpally and another at Banjara Hills and has taken a property on lease at ToliChowki near the IT corridor of Hyderabad to develop a 40-room hotel and restaurant. The company has plans to venture into other areas of business.
The registered office is located at 146, Dr. Radhakrishnan Road, Mylapore, Chennai-600004.
Financials
Savera Industries registered a 24.36% growth in net profit to Rs 14.14 million for the quarter ended December 2007 from a profit of Rs 11.37 million for the quarter ended December 2006.
Net sales rose 7.38% to Rs 112.94 million for the quarter ended December 2007 from Rs 105.18 million for the quarter ended December 2006.
Total income rose 7.39% to Rs 113 million for the quarter ended December 2007 from Rs 105.22 million for the quarter ended December 2006.
The earnings per share (EPS) of the company stood at Rs 2.37 for the quarter ended December 2007.
Recent Developments
24-JUL-06
On July 22, 2006, the board of directors approved the expansion of the hotel business in Coimbatore City, Tamil Nadu. The project will be implemented at an investment cost of Rs 120 million approximately.
Future Plans
The hotel is planning to diversify into various business activities such as horticulture, real estate, food products, packing, resort and farm houses.