Tag Archives: India Tourism Development Corporation

ITDC bags Rs 550 crore project for developing infrastructure in Andhra Pradesh

India Tourism Development Corporation (ITDC) has recently signed a MoU with Hyderabad-based firm, Suraas Impex for developing a mega tourism destination project at Bhairav Lanka in Kakinada, East Godavari District of Andhra Pradesh at an estimated cost of Rs 550 crores. This is the first-of-its-kind project for the state-owned ITDC, which got preferred against several private contenders. ITDC will be the Consulting Agency as well as Implementing Agency for the DPR and the execution which shall be taken up in three stages, i.e., preparing the DPR, implementation of project costing around Rs 550 crores and implementation of second phase of the project. ITDC has been the prime mover in the progressive development, promotion and expansion of tourism in the country. The Division has completed 67 infrastructure projects for Ministry of Tourism, Ministry of Culture and various state governments. The division has also prepared more than 85 DPRs for various tourism projects in the country. The corporation provides Engineering Consultancy Services through its full-fledged Ashok Consultancy & Engineering Services Division. It undertakes development of tourism infrastructure projects from concept to commissioning.

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ITDC hosts Chief Vigilance Officers’ conference in Delhi

India Tourism Development Corporation (ITDC) hosted Vigilance Study Circle (VSC) NCR meet at The Ashok, New Delhi to discuss various vigilance related issues. The meeting was chaired by Praveen Sinha, Additional Secretary, Central Vigilance Commission (CVC); M R Krishna, President, VSC; Vinayak Garg, Chief Vigilance Officer (CVO), ITDC. Sinha delivered a lecture on vigilance related issues in the meeting. The best practices followed by any of the organisation were also shared for implementation in other organisations. Vigilance Study Circle NCR is a group of CVOs of various organisations or PSUs in NCR, who meet on regular basis and holds meetings on vigilance.

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ITDC to transfer Hotel Jaipur Ashok to Rajasthan Govt.

The India Tourism Development Corporation (ITDC) has signed a transfer agreement with Rajasthan government on December 9 to transfer Hotel Jaipur Ashok to the state government. As per the agreement, Hotel Jaipur Ashok located at Collectorate Circle would now be operated and managed by the Rajasthan State Hotel Corporation Ltd, with new identity ‘Hotel Jaipur’. The agreement was signed by Piyush Tiwari, Director – Commercial & Marketing, ITDC and Nihal Chand Goel, Additional Chief Secretary – Tourism, State government in the presence of Rashmi Verma, Secretary, Minister of Tourism, Govt of India; Ravneet Kaur, Chairperson and Managing Director (CMD), ITDC; Suman Billa, Joint Secretary, Ministry of Tourism, Govt of India and other dignitaries. ITDC executed transfer documents for transferring the hotel to the Rajasthan government at a negotiated price of Rs 14 crore. Earlier on September 5, a tripartite memorandum of understanding (MoU) was executed among ITDC, Ministry of Tourism and Government of Rajasthan for transfer of Hotel Jaipur Ashok to the state government at a negotiated value of Rs 14 crore without any liabilities and encumbrances.  

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ISO certification for Ashok Institute of Hospitality & Tourism Management

Ashok Institute of Hospitality and Tourism Management (AIH&TM), the Human Resource Development division under India Tourism Development Corporation (ITDC), has been certified with ISO 9001:2015 certification for imparting quality education in hospitality and tourism management. To ensure that various activities undertaken by the institute are standardised with latest quality policy Ashok Institute of Hospitality and Tourism Management (AIH&TM) has now upgraded to ISO 9001:2015 Certification. Besides conducting short duration customised training programmes for hotels and restaurants, AIH&TM has offered hospitality-related training consultancy for Ministry of Tourism, President House, Prime Minister’s House, State Bhawans, Indian Foreign Services, Shri Mata Vaishno Devi Shrine Board, public sector organisations and State Tourism departments. Commenting on the certification, Piyush Tiwari, Director Commercial & Marketing, ITDC, said, “ITDC stands for change and development in tourism and hospitality and assist in building a better nation. Also, we ensure that we are parallel to the advancements in terms of quality and technology. The ISO 9001:2015 certification confirms our capability to deliver knowledge and training in the best possible way to help build a skilled India.”  

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ITDC records Rs.17.5 cr net profit before tax during 2016-17

India Tourism Development Corporation (ITDC), conducted its 52nd Annual General Meeting at The Ashok, New Delhi. Chairing the meeting, Ravneet Kaur, IAS, Chairperson & Managing Director, ITDC, announced that corporation closed the year with a turnover of Rs. 495.14 crore during 2016-17. The net profit before tax has been recorded to Rs.17.52 crore during 2016-17. Also, the board declared and approved a dividend of 13.30 per cent amounting to Rs.11.41 crore approximately in the meeting held on May 30, 2017. Other Board of Directors present during the meeting included Piyush Tiwari, Director (Commercial & Marketing), Pradip Kumar Das, Director (Finance), government nominee directors and independent directors. The CMD announced that ITDC has shown a significant improvement in the operational efficiency. Overall occupancy during 2016-17 was 58 per cent as against 52 per cent during 2015-16 with flagship Hotel ‘The Ashok’ recording highest turnover of Rs. 152.91 cr during 2016-17. The board said that a big push is being given to connect ITDC with new customers especially with younger generation through print and social media. Steps are being taken to make ITDC website more attractive and user friendly.

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ITDC records Rs.109.60 cr turnover in Q1 2017-18

India Tourism Development Corporation (ITDC) has performed remarkably in the first quarter of the current financial year 2017-18. The total turnover in quarter ending June 2017 increased to Rs.109.60 cr as compared to Rs. Rs. 91.42 cr in the corresponding quarter last year. The PSU registered Net Profit Before Tax (PBT) at Rs. 25.19 cr as compared to Rs. 14.30 cr in the corresponding quarter last financial year i.e. 2016-17, which is an increase of 76.15% from last year. The details were announced at the Board of Directors’ meeting of the company held on August 14th, 2017 at The Ashok, New Delhi.

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ITDC records Rs. 12.05 cr profit, ups turnover by 6.32%

India Tourism Development Corporation (ITDC) has posted a growth of 6.32 per cent with a total turnover at Rs 495.14 crore as compared to Rs. 465.69 crore in last financial year. Revenue from operations stood at Rs. 473.15 crore as compared to Rs. 437.13 crore in the last fiscal. Corporation posted profit before tax (PBT) of Rs.17.52 crore and profit after tax (PAT) of Rs.12.05 crore in 2016-17 against Rs. 32.42 crore and Rs. 22.55 crore respectively in the previous year. The results were announced in the Board Meeting held on May 30, 2017, at the Group’s flagship hotel, The Ashok, New Delhi. Piyush Tiwari, Officiating Chairman & Managing Director and Director (Commercial & Marketing), India Tourism Development Corporation (ITDC), said, “FY 2016-17 has been a motivating year for ITDC as it was the golden jubilee year for the organisation. The profit is result of several proactive initiatives taken by the organization to improve productivity and efficiency at the beginning of the year. Besides posting continuous profit year after year, ITDC has maintained its status of Mini Ratna and its commitment towards the shareholders through announcing consistent dividends for last four consecutive years.” Hotel The Ashok, Ashok International Trade division and Ashok events division of ITDC were other contributors to the profit for FY 2016-17. The Ashok hotel posted a highest ever turnover amounting to Rs. 152.91 crore.

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ITDC organises awareness program on cashless banking

In a bid to create awareness about digital payments and cashless banking in the wake of demonetisation, India Tourism Development Corporation (ITDC) organised an interactive awareness program for its employees in association with State Bank of Hyderabad. During the awareness program, various available modes of cashless transactions such as POS machines, e-wallet, mobile banking, online banking, using apps such as SBI Buddy, SBI Freedom etc. were demonstrated and explained in detail. Umang Narula, Chairman and Managing Director, ITDC, said, “It’s a matter of great satisfaction and pride that this workshop was organised. The government is promoting cashless transactions to overcome the acute shortage of lower denominations. In my opinion, this is a good move as digital transactions ensure transparency and proper payment of taxes.” He appealed to the employees and the young trainees to join the digital system of operations at the earliest as the nation is moving towards the cashless mode of transactions. The program was also graced by Piyush Tiwari, Director Commercial and Marketing, ITDC, Pradip Kumar Das, Director Finance, ITDC, and Vinayak Garg, Chief Vigilance Officer, ITDC.

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ITDC debuts at NSE listing

ITDC made a debut entry at the NSE listing. The market has resulted in a surge and stocks are up over 15%. India Tourism Development Corporation (ITDC) surged 18% to Rs 209 on the BSE in intra-day trade ahead of its listing on the National Stock Exchange (NSE) on Friday, December 30, 2016. India Tourism Development Corporation has informed BSE that the listing of equity shares of ITDC in NSE has been approved vide its letter dated December 28, 2016 and the equity shares shall be listed and admitted to dealings on NSE w.e.f. December 30, 2016. Shares of India Tourism Development Corporation got listed at Rs 229 on NSE, registering a premium of 7.87 per cent over its issue price of Rs 212.30. The stock touched an early high of Rs 234, registering a jump of 10.22 per cent over its issue price. It finally ended the day at Rs 211, down 0.61 per cent from its issue price.On the volume front, a total of 1,22,798 shares of the company were traded on NSE. On BSE, where it had listed earlier, the scrip settled at Rs 212.8, up 0.24 per cent from the previous close. It had opened at Rs 228 and jumped 10.06 per cent to an intra-day high of Rs 233.65. On September 2, the company’s board had sent an application to NSE regarding listing of its shares with the bourse. ITDC, which came into existence in October 1966, runs hotels and restaurants at various places for tourists, besides providing transport facilities. It also produces, distributes and sells tourist publicity literature and provides entertainment and duty free shopping facilities to tourists.

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