Tag Archives: The Ashok

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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Chander Mansharamani to continue as Vice Chairman, ICPB; new appointments in Governing Body

Chander Mansharamani has been re-elected as Vice Chairman of India Convention Promotion Bureau (ICPB) for another two-year term. Amaresh Tiwari and Girish Kwatra will also continue on their respective posts of Hon. Secretary and Hon. Treasurer. This was declared during the association’s 30th Annual General Meeting and Elections for the Governing Board held at The Ashok in New Delhi which was also attended by Suman Billa, Joint Secretary, Ministry of Tourism, Government of India and Chairman, ICPB. New appointments were made in the Hotel, Tour Operator and Congress / Convention Centres categories. The two new appointments in the hotel category were Hemant Mediratta and Saurabh Bhargava & Abinash Manghani (due to a tie for the second post). Gunjan Suri and Naveen Chibber took up the two new posts in the travel agency category while Ajay Vinayak and Anuj Wadhwa took the two posts in tour operator category. The post for the Congress / Convention Centres went to Sudeep Sarcar. Talking about the key priorities for the bureau now, Chander Mansharamani, Vice Chairman, ICPB, said, “the government has been looking at us as the frontal organisation for marketing India as a convention destination. Keeping that in mind, we are completely invested to take things to the next level. Currently we have outlined three core areas to focus on; first is market creation wherein creating our chapters and bidding of international conferences will be a part of that. Market creation will involve conducting roadshows both in India and international markets. The second priority is Visa, lobbying and making the entire process easier to get a visa for delegates attending conferences in India and thirdly we want to sensitise the central and state governments on the …

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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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