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ITC to invest Rs 25,000 crore across businesses in next 5-7 years

Updated : July 03, 2018 06:52 AM IST

The ITC group officially threw open its doors to the luxury hotel, the Kohenur earlier on Monday -- with Telangana Industries Minister KT Rama Rao launching the property at Hitec City.

The company has invested Rs 775 crore to build 271 rooms across a 5 acre campus in the business district of the city.

Speaking at the Kohenur's launch, Sanjiv Puri, managing director of ITC said, "We dedicate this hotel to the people of Hyderabad, who have welcomed us with open arms. To further our commitment to the state, we will invest Rs 2500 crore in Telangana over the next few years towards capacity augmentation, revamping the paper board business and setting up a food processing unit at Medak."

Under its luxury segment of hotels, ITC will launch the Royal Bengal in Kolkata next year. The company is also planning to add 24 hotels to its overall portfolio in the next 5 years with a capacity addition of 2,500 rooms.

ITC also outlined an investment pipeline of Rs 25,000 crore by 2023 towards expanding its hospitality and paper board business, growing its agro-processing units and a probable foray into healthcare as well.

Hear all about the company's business outlook and investment pipeline in this exclusive and candid conversation between ITC's Managing Director Sanjiv Puri and CNBC TV18's Nithya Balakrishnan.
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