HLV Ltd
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BSE Code:
500193
NSE Code:
HLVLTD
Business Profile
Business Profile
Hotel Leela Venture (HOTELEELA), part of the Leela group, is engaged in the hospitality business with deluxe hotels and resorts. Incorporated in 1981, the company has an exclusive business partnership with Kempinski.
The company owns and manages luxury deluxe properties including The Leela Kempinski Mumbai, The Leela Palace Kempinski Bangalore, The Leela Goa, and The Leela Kempinski Kovalam Beach Kerala. It operates hotels under The Leela Palaces & Resorts brand in India. It has a room capacity of 396 in Mumbai, 357 in Bangalore, 152 in Goa, and 181 in Kovalam.
The Leela group has launched a three-year expansion plan to more than double its room capacity and introduce a few world class properties in Gurgaon (Delhi), Udaipur, Chennai, Hyderabad and Pune at an investment of over US$ 270 million (approximately Rs 10,700 million). The Leela Palace Kempinski Udaipur will open in 2009, The Leela Kempinski Gurgaon (Delhi) in 2008, The Leela Kempinski Pune in 2010, The Leela Palace Kempinski Hyderabad in 2010, and The Leela Palace Kempinski Chennai in 2010. Total room capacity is planned to increase from the current 1086 rooms to 2640 rooms.
The company has two subsidiaries, Amin Group Hotel and Kovalam Hotels. Recent awards include the SATTE Award in April 2007 for The Leela Goa as the best beach resort in India and for The Leela Kempinski Bangalore for the best business hotel in India. It has also won the National Tourism Award 2005-2006 for The Leela Palace, Kempinski Bangalore for the best eco-friendly hotel.
The registered office of the company is at The Leela Kempinski, Sahar, Mumbai-400059.
Financials
The company reported a phenomenal drop in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined 62.71% to Rs 205.00 million from Rs 549.80 million in the same quarter previous year. Net sales declined 15.15% to Rs 1,213 million, while total income for the quarter fell 15.67% to Rs 1,276.40 million, when compared with the prior year period. The company reported earnings of Rs 0.54 a share during the quarter, registering 63.51% decline over previous year period.
Recent Developments
08-APR-09
CARE assigned A+ rating to the long term facilities and also assigned a PR1 rating to the short term facilities of the company.