Le Lavoir Ltd enters into contract with Fariyas Hotels Pvt Ltd for providing laundry services

Le Lavoir Limited has entered into a contract with Fariyas Hotels Private Limited for providing laundry services at their Unit: CTS No.145A/2, A/3 Sahar Cargo Road, Post and Telegram Colony bus stop, Andheri East, Mumbai 400099 for a period of 1 year from the date of entrance into agreement. Under the brand name "Le Lavoir", the company is targeting to reach various institutions and also plans to enter the retail market segment to address consumer needs. Focused on expanding its reach on pan India basis, the company plans to open several other laundry units apart from its Mumbai facility over the coming years.

On the business outlook, Mr. Sachin Kapse, Managing Director of Le Lavoir Ltd said, "We are dedicated towards establishing Le Lavoir brand as a pan India commercial laundry services player after our firm footprint in Mumbai. Our next two financial years will see a growth of over 50% year-on-year. Currently our capacity stands at 7 tons per day and we aim to increase this capacity to 10 tons per day to provide laundry services at our Mumbai facility. We aim to further increase capacity at Mumbai with another unit and add other locations to provide Laundry Services to the Hospitality sector. Le Lavoir aims to partner with more hotel brands to provide laundry services."

On the deal announcement, Mr. Ashok Dilipkumar Jain, Director - New Initiatives and Chairman at Le Lavoir, exuberantly added, "We are excited to enter into contract with Fariyas Hotels Private Limited which reinforces the confidence on the business and the trust that renowned Hospitality Brands in Mumbai have placed on us in the past and in times to come as well. Our aim is to be one of the leading and trusted brands in Laundry Services Industry in India. We are focused on the "Make in India" and Atmanirbhar Bharat initiatives of the Government of India."

Shares of LE Lavoir Ltd was last trading in BSE at Rs. 328.00 as compared to the previous close of Rs. 330.10. The total number of shares traded during the day was 4313 in over 91 trades.

The stock hit an intraday high of Rs. 346.60 and intraday low of 313.60. The net turnover during the day was Rs. 1385967.00.

Source : Equity Bulls

Keywords

LELavoir INE204S01012 Contract FariyasHotels LaundryServices