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Jayanta Mallick

Kokata, July 1

THE Advani Hotels and Resorts India stock is ruling steady on the bourses after reporting a strong growth in 2004-05.

On Friday, the stock improved by 2.30 per cent at Rs 57.85 on the BSE.

According to Mr Rajesh Agarwal of CD Equisearch, the company's beach resort in Goa is doing well. "It has tied up with a number of international tour operators, which would help the company in achieving 100 per cent occupancy.

"Apart from this, the company's flight kitchen & catering, and cruise casino business (through a subsidiary) are also improving fast.

"With greater inbound international tourist flow, the domestic travel industry witnessing a boom and air traffic on a higher flight path, the future for the stock looks brighter than ever," he added.

For the year ended March 31, the company has reported a 272.4 per cent jump in PAT.

The company has taken up a Rs 13-crore two-phase renovation project for the Goa beach resort.

Mr Ajay Vichare, Senior Manager, Corporate Finance, told Business Line that out of the 202 rooms, 25 are being renovated in the period between July and September.

In the second phase, equal number of rooms would be up for renovation.

"This is being done to add value and raise the room rent," he added.

The company official confirmed that the peak season occupancy is ruling around 100 per cent at the Goa resort.

The company's profit growth, going by the trend in the current fiscal, is likely to be in the region between 20 and 25 per cent.

Meanwhile, the company has revived its 130-room five-star hotel project in Jaipur.

"We had acquired around 4 acres of land in the Pink City. With a PIL dismissed by the court, now the plots are being consolidated. Soon the blue print for the project would be ready," Mr Vichare said.

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