However, it won’t pan out like that as per me. I am doubtful on 500 Cr valuation for hotel. It is a stretched valuation. IHCL is presently a 84000 Cr Mcap company with 23000 operating rooms and 10k+ inventory.
Hence, conservatively we should consider 2-2.5 Cr per room valuation for Goa hotel. My assessment is 350-400 Cr.
Further, they will use this money to get debt to a comfortable level (From ~350 Cr to ~<100 Cr for <1 debt to equity). The remaining 100 Cr will be used for reinvestment. I agree it will still be better.
But, I don’t hear any progress on hotel sale also.
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