Le Lavoir Ltd signs contract with K Raheja Corp Aksa Beach

Le Lavoir Limited (BSE: 539814), listed on BSE Limited under the ticker symbol of "LELAVOIR" is the only listed Laundromat company in India currently operating in the Commercial Laundry Services Business at its Mumbai unit.

The Company has signed a contract with K Raheja Corp (The Resort) Aksa Beach, Madh-Marve Malad (W) up to 30th April 2024 to provide laundry services for the resort hotel and the contract being renewable on an annual basis from April 2024.

The Company has also signed contracts with Intergloble Hotels Pvt Ltd (part of the Accor Group of Hotels) for their two hotel properties in Mumbai, ibis Navi Mumbai and ibis Thane for a period up to August 2024 to provide commercial laundry services for the hotels and the contract being renewable on an annual basis from August 2024.

On the outlook, the Company said "The Company is dedicated towards establishing itself as a commercial laundry services player in India after its firm footprint in Mumbai. Currently, Hotel Taj Lands End, Bandra, Mumbai (part of the Indian Hotels Group of Hotels) and The Mirador Hotel, Andheri (East), Mumbai are the prominent hotels being serviced for their commercial laundry requirements along with other hotels."

Sachin Kapse, Managing Director at Le Lavoir Limited says, "Over the years, we have worked tirelessly to build a foundation rooted in innovation, excellence, and unwavering dedication. It brings me immense pride to announce that Le Lavoir Limited has experienced significant growth, reflecting our collective efforts and the trust investors have placed in us since inception."

He added that, "Our growth is a direct result of our team's commitment to delivering exceptional services and fostering meaningful relationships. We have expanded our reach in Mumbai, and embarked on transformative initiatives to redefine industry benchmarks."

Shares of LE Lavoir Ltd was last trading in BSE at Rs. 96.43 as compared to the previous close of Rs. 94.75. The total number of shares traded during the day was 9514 in over 16 trades.

The stock hit an intraday high of Rs. 96.44 and intraday low of 93.01. The net turnover during the day was Rs. 901106.00.

Source : Equity Bulls

Keywords

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