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ITDC presents two dividend cheques for the government to Minister Dr Mahesh

first_imgThe Chairman, Indian Tourism Development Corporation (ITDC), Umang Narula presented Two dividend cheques of ITDC and KFHL for 2014-15 for the Government of India amounting to Rs 18.88 crores to the Minister of State (I/C) for Tourism and Culture Dr Mahesh Sharma. Secretary, Ministry of Tourism, Vinod Zutshi and senior officers of Ministry and ITDC were present on the occasion.The Minister said that as per the initiatives of the Prime Minister for ‘Good Governance’ taken last year, the good results have started yielding now. The officers of his Ministry and Departments have been assigned target oriented goals with proper transparency. His Ministry had recently held a meeting with the representatives of eight States on the issue of loss making hotels, he added.ITDC, a PSU under the administrative control of the Ministry of Tourism has declared a dividend of 20% amounting to Rs 17.15 crore for 2014-15, the highest ever in terms of amount and the highest since 2007-08 in terms of percentage and Kumarakruppa Frontier Hotels Pvt. Ltd. (KFHL), another PSU under the Ministry of Tourism has also declared a dividend amounting to Rs 4.39 crore for 2014-15.For the financial year 2014-15, ITDC posted a robust performance registering the Net profit of Rs 38.95 crore on a turnover of Rs 504.19 crore, the highest since 2007-08. Of the overall performance, the Hotel Segment i.e. the Core area of ITDC achieved an impressive turnover of Rs 283.90 crore with a profit of Rs 10.81 crore. Besides Hotels, the other segments dealt by ITDC are Tours and Travels, Events Division, Institute of Hospitality and Tourism Management, Consultancy and Engineering Services, International Trade Division all under the brand of Ashok.ITDC had eight hotels of its own and five joint venture hotels under the brand of Ashok. Besides hotels, ITDC also managed catering at VVIP Venues like Hyderabad House, Vigyan Bhawan. The Ashok hosts various important conferences, prestigious events for various Ministries, Government bodies and Corporates. Chefs from Ashok Group of Hotels participated in Indian Food Festivals in various countries including Egypt, Cairo, Stockholm, Cambodia, China, South Africa, Lebanon, Dominican Republic, Zimbabwe, Algeria, Mauritius, Argentina, Paraguay, Cyprus, Netherland, Bali and Indonesia on behalf of the Government of India showcasing the fineries of Indian Cuisine to the world. Chefs of the ITDC Group of Hotels also won a number of prestigious awards.During 2014-15, the Events Division of ITDC hosted “India-US CEO Forum” [ chaired by the Prime Minister of India and the President of USA];”India-US Business Summit” [ chaired by the Prime Minister of India and the President of USA]; besides many other prestigious events organised by the Government of India.Sound and Light Show (SEL) is the unique expertise of ITDC. The Sound and Light Show Division is primarily undertaking the implementation of Sound and Light Show projects across the country. The Division undertakes the project right from the site identification stage to conceptualisation till commissioning. The Division has recently mounted show at Ross Island in Andaman & Nicobar and another at Deoghar in Jharkhand.Ashok Institute of Hospitality and Tourism Management segment of ITDC (AIH and TM) set-up a Centre of Excellence at Hotel Samrat, New Delhi in affiliation with National Council of Hotel Management Catering Technology providing B.Sc. Course in Hospitality and Tourism Management at the level IHM.last_img read more