Share price of this 5 star luxury hotel company surged nearly 19.5%. The hotel will be hosting Saudi Arabian delegates coming for the G20 summit 2023.
The share prices of HLV Limited opened at Rs. 13.65 per share and gained a total of 18.45% to reach its 52- week high of Rs. 16.25 per piece. The stock has returned 32.84% in the last six months. In the last three years, the stock gained 160.58%.
G20 Summit is a premier platform for leaders all around the world. The Summit takes place once a year for the globe leaders to address and take necessary decisions regarding economic conditions in the world, climate change and establishing fair and rightful global governance with unity. For the year 2023, the G20 Summit will be held on September 9 and 10 at the Bharat Mandapam in New Delhi’s Pragati Maidan.
All the delegates from around the world will be staying in the top luxury hotels in Delhi. The Leela Hotel in Gurugram has made arrangements for delegates coming from Saudi Arabia this year.
Comparing the financials of the company on a YoY basis, the consolidated revenue for FY23 is Rs. 172.88 crore, increased by 136.82% from Rs. 73 crore in FY22. The net loss for FY22 was Rs. -42.51 crore. The company was able to cover its losses and reported a net profit of Rs. 7.65 crore in FY23.
Hotel Leela Venture Limited is a five- star luxury hotel, resort and restaurant. It comes under The Leela group which is an Indian business conglomerate established back in the year of 1981. The founder Chittarath Poovakkatt Krishnan Nair named the business after his wife.
Written by Bhumika Khandelwal
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