Spectrum Foods Ltd - Pushkar Resort Construction Update

Spectrum Foods Limited, "SFL", a leading salt refiner and distributor in North India, is pleased to announce significant progress in the construction of our 138-room 5-star resort in Pushkar, Rajasthan.

Construction Update

Despite challenges posed by higher than expected monsoon this year, resort construction remains on track for completion by Q1 FY25/26. Over 100 construction workers are engaged on-site, with detailed supervision ensuring that the project advances steadily.

Financial Update

Spectrum Foods Limited is seeking to complete the resort's construction on a debt-free basis, leveraging our robust cash equivalents and growing internal accruals. A debt-free completion of the project shall allow considerable financial flexibility to the company in the near future.

This property is 100% owned by SFL and spread across 8 acres of prime hospitality land. The resort is expected to be the largest, by number of rooms, in the Pushkar-Ajmer tourism region.

Company Update

Spectrum Foods Limited remains committed to delivering high-quality projects that align with its vision of excellence in the hospitality sector. The company will continue to provide updates as the project progresses towards its opening at the earliest next year.

Shares of SPECTRUM FOODS LTD. was last trading in BSE at Rs. 24.98 as compared to the previous close of Rs. 25.39. The total number of shares traded during the day was 12335 in over 109 trades.

The stock hit an intraday high of Rs. 26.25 and intraday low of 23.75. The net turnover during the day was Rs. 310712.00.

Source : Equity Bulls

Keywords

SPECTRUMFOODS INE547C01018 PushkarResort 138Rooms 5Star Rajasthan ConstructionUpdate