Indian Hotels Company Limited (IHCL) plans to invest Rs 6,000 crore to Rs 7,500 crore in capital expenditure over the next five years, Tata Group Chairman and Non-Executive Director N Chandrasekaran said.
Responding to questions from shareholders at the Tata Group-owned IHCL's annual general meeting (AGM) on Tuesday, he also shared that the flagship luxury property Taj Bandstand, which is coming up in Mumbai, will span 50 floors and have 500 rooms, involving a capex of around Rs 2,000 crore.
"We hope it will be an iconic property," Chandrasekaran said on the upcoming Taj Bandstand property.
Laying out IHCL's capex strategy to fuel expansion, he said, "Over the next five years, the company will spend as per the current plan, between Rs 6,000 crore to Rs 7,500 crore in terms of capex."
IHCL is the country's largest hospitality player.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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