VICEROY HOTELS LTD
Add to watch list to get report alerts
BSE Code:
523796
NSE Code:
VICEROY
Business Profile
Business Profile
Viceroy Hotels (VICEHOT), previously known as Palace Heights Hotels, is engaged in the hospitality business of operating hotels. It was incorporated in 1965 and signed a master franchisee agreement in 2005 with the global hospitality major Marriott International Inc. to become its franchisee.
The company operates a 5-star property Hyderabad Marriott Hotel in Hyderabad. This seven-storey luxury hotel has 297 rooms and 13 meeting rooms. The promoters run a chain of restaurants as a separate entity which is to be merged with Viceroy. The alliances with the USD 10 billion Marriott group and Bread Talk (a revolutionary bakery) will provide the necessary thrust for its growth plans. The full expansion of the company is expected to be completed by the financial year 2009. The company plans to open 40 Bread Talk outlets as part of its expansion plans. It will have three outlets in FY07 in Mumbai, followed by Delhi and Kolkata. Crustum Products, which is a wholly owned subsidiary of the company, is the franchisee for BreadTalk in India.
The registered office of the company is located at 1-3-1036/3/1, Lower Tank Bund Road, Gandhinagar, Hyderabad-500080, Andhra Pradesh.
Financials
Viceroy Hotels registered a 58.4% growth in net profit to Rs 14.62 million for the quarter ended September 2007 from a profit of Rs 9.23 million for the quarter ended September 2006.
Net sales rose 48.64% to Rs 174.15 million for the quarter ended September 2007 from Rs 117.16 million for the quarter ended September 2006.
Total income rose 50.18% to Rs 179.01 million for the quarter ended September 2007 from Rs 119.2 million for the quarter ended September 2006.
The diluted earnings per share (EPS) of the company stood at Rs 0.34 for the quarter ended September 2007.
Future Plans
The proposed expansion plans of the company include setting up a five-star deluxe hotel in Chennai and another five-star hotel in Bangalore. The star hotel in Chennai is coming up near Adyar at an estimated cost of INR 4,600 million with 350 rooms and 200 executive apartments. The Bangalore hotel, coming on Racecourse Road at an investment of INR 1,600 million, will have 200 rooms. Both these projects are slated to be completed by 2008.