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50 p.c. maiden dividend from Royal Orchid
BANGALORE:
Royal Orchid Hotels Limited (ROHL) plans to add five hotels having 385 rooms in the current financial year with an investment of Rs. 60-70 crore, its Chairman, Chender Baljee, said on Monday. Announcing the company's results for 2005-06, he said the group would increase its presence in Mysore with a second hotel, which would be followed by the opening of new hotels in Jaipur and Hyderabad. At present, ROHL has four hotels in Bangalore and one in Mysore with a total of 490 rooms. ROHL posted a 56 per cent rise in net profit at Rs. 23.04 crore during 2005-06 against Rs. 14.77 crore in the previous year, while the turnover jumped to Rs. 85.97 crore from Rs. 58.18 crore a year ago. The company declared a maiden dividend of 50 per cent.
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