CCHHL's Bold $100 Million Leisure Expansion

Country Club Hospitality and Holidays Ltd aims to raise $100 million for new leisure properties across India. Funds will be accessed through GDR or FCCB, as stated by Chairman Y Rajeev Reddy. The company, now debt-free, also plans real estate projects in major Indian cities.

Country Club Hospitality and Holidays Ltd (CCHHL) is undertaking a strategic financial move to enhance its leisure offerings across India. The company plans to raise $100 million to establish premium leisure properties throughout the nation, according to Chairman and Managing Director Y Rajeev Reddy.

Reddy disclosed that the funding will be obtained through either global depository receipts (GDR) or foreign currency convertible bonds (FCCB). The Hyderabad-based company, which recently cleared Rs 600 crore in debt, will channel these funds into creating clubs and resorts across various Indian locales.

In addition to its hospitality ventures, CCHHL is expanding into real estate, with projects poised for development in Mumbai, Delhi, Bengaluru, Hyderabad, and Chennai. This expansion is part of a larger strategy to capitalize on both residential and commercial real estate demands in major urban areas.

(With inputs from agencies.)