Indian Hotels Company Limited (IHCL) has outlined plans to invest between Rs 6,000 crore and Rs 7,500 crore in capital expenditure over the next five years as part of its long-term expansion strategy.
Speaking at the company's annual general meeting (AGM), N Chandrasekaran, Chairman of Tata Group and Non-Executive Director of IHCL, said the planned investment will support the company's future growth across its hospitality portfolio.
"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," Chandrasekaran said while responding to shareholders' questions.
He also provided an update on the upcoming Taj Bandstand project in Mumbai, stating that the luxury hotel will comprise 50 floors and 500 rooms, with a capital investment of approximately Rs 2,000 crore.
"We hope it will be an iconic property," Chandrasekaran said about the upcoming hotel.
IHCL, the hospitality arm of the Tata Group, continues to expand its portfolio as India's largest hotel company, with the proposed investments aimed at strengthening its presence across key markets over the coming years.
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