Kotawala India Ltd to construct hotel, acquire restaurant and buses

The board of directors of Kotawala India Ltd has approved the below in their meeting held on July 17, 2006:

Acquisition of VOLVO Buses from Konduskar Travels to start Bus services from Goa to Mumbai, Hyderabad, Bangalore & Puna. Total investment in this segment is estimated to be Rs 50 million.

To acquire 15000 sq.mtr. Land at Varca village of Goa to construct & develop super deluxe hotel to be completed by 2008 with the approximate cost of the project is Rs 250 million.

The acquisition of LITTLE ITALY (A well known Chain of Italian Restaurant) & expands the operations in existing 8 cities to 45 cities to be spreaded all over the world.

Source : Equity Bulls

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