Mahindra Holidays to spend 3.5-4 bln rupees on expansion

Newswire

MUMBAI, Sept 29 (Reuters) - Mahindra Holidays & Resorts Ltd, a subsidiary of automobile firm Mahindra & Mahindra Ltd , is adding 750 rooms at an investment of 3.5-4 billion rupees as its membership increases, a top official said. The expansion, to be funded from internal accruals and equity, will be through resort acquisitions, greenfield projects and room additions, Chairman Arun Nanda said on Monday. "In this downturn, we haven't seen a slowdown, we are going aggressive." The ...

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