Country Club buys properties worth Rs.960 mn

March 19th, 2008 - 3:22 pm ICT by admin  

Mumbai, March 19 (IANS) Entertainment and leisure conglomerate Country Club India Ltd has bought properties worth Rs.960 million ($23 million) in cities like Chennai, Pune, New Delhi, Cochin and Kolkata in the last two months, it announced Wednesday. The Hyderabad-headquartered firm informed the Bombay Stock Exchange (BSE) about the acquisition - a part of its pan-India strategic expansion plan. Country Club has also purchased properties in Ahmedabad, Vadodra and Surat.

Company chairman V. Rajeev Reddy said in a statement: “Most of the acquisitions have been of existing clubs or properties conducive for creating clubs.”

The company owns and operates 33 properties across India. It has launched its first spa in Hyderabad and will soon launch similar operations in Mumbai, Bangalore and Chennai.

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