Tamara Real Estate will develop a 108-room premium hotel in Trivandrum.
#EnteThiruvananthapuram: Tamara Real Estate Holding & Development Pvt. Ltd run by Infosys Co-founder and CEO, S D Shibulal’s daughter Shruti Shibulal will invest up to Rs150 crore for setting up a hotel in Kerala and a resort in Tamil Nadu.
Tamara Real Estate will develop properties in Trivandrum and Kodaikanal, apart from expanding the existing resort in Coorg in Karnataka. The company will develop the property in Trivandrum into a 108-room premium hotel. The Kodaikanal property will be developed into a 54 room resort.
In Kerala, Tamara Real Estate Holding & Development has properties in Kochi and in Guruvayur. The company has hotels in White Field in Bangalore and in Madurai.
Shruti Shibulal who is the Promoter and Director at the Tamara Real Estate owns slightly less than one per cent stake in Infosys, which according to the current market price is worth Rs1,350 crore. The total shareholding of Shibulal and his family in Infosys is about 2.2 per cent, which amounts to ₹4,507 crore as per today’s stock price.
Hospitality is a fast growing industry in Trivandrum. The city now has many star hotels including the newly opened Hilton Garden Inn by the Hilton Worldwide Group. In the coming years more hotels including the Novotel will be opened in Trivandrum.