Apeejay Surrendra Park Hotels Ltd inks MoU for 42 room hotel in Mathura

Apeejay Surrendra Park Hotels Limited ('Company'), has entered into Memorandum of Understanding (MoU) today with M/s. Raman Industrial Enterprises, a partnership firm based in Mathura, Uttar Pradesh ("Owner"), to take on lease and to operate a 42-room hotel property along with associated facilities, currently under construction on land admeasuring approximately 1308 sq. meters, situated at Village Jaisinghpura Bangar, Tehsil Sadar, District Mathura, Uttar Pradesh - 281003.

The Company intends to take the aforesaid hotel and manage the same for a lease term of 12 (twelve) years, subject to fulfilment of agreed conditions precedent, statutory approvals, and execution of a definitive Lease Deed. The Lease Deed is proposed to be executed on or before March 31, 2026, or such other date as may be mutually agreed between the parties.

Shares of Apeejay Surrendra Park Hotels Limited was last trading in BSE at Rs. 138.60 as compared to the previous close of Rs. 137.75. The total number of shares traded during the day was 13993 in over 240 trades.

The stock hit an intraday high of Rs. 139.65 and intraday low of 137.20. The net turnover during the day was Rs. 1934761.00.

Source : Equity Bulls

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ApeejaySurrendraParkHotels INE988S01028 Lease 42Rooms HotelProperty Mathura