Hotel Leela gains; property sale to reduce debt

Hotel Leelaventure shares rise 9 percent, a day after the company sold its IT park building in the city of Chennai for Rs 1.7 billion to Reliance Industries, according to an exchange filing.

Traders say the hotel operator will be able to reduce debt, a critical factor given higher interest costs led Hotel Leelaventure to post a net loss of 970 million rupees in the October-December quarter, despite what analysts called a better-than-expected top line performance.

EDITORIAL OF THE DAY

  • Realtors must lower the ratio of capital value to rental income to entice buyers

    Real estate prices are likely to witness a correction in the coming festival season, according to a report put out in this newspaper on Monday, with p

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

BK Chaturvedi

Undermining demographic dividend

Development and economic growth of nations is built upon the ...

Kuruvilla Pandikattu

Imperfection makes you more human

For all those who live in fear of making a ...

Shona Adhikari

Artistic focus on women's empowerment

The focus on the girl child remains an important one ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture