BHARAT HOTELS LIMITED
ANNUAL REPORT 2011-2012
MANAGEMENT DISCUSSION AND ANALYSIS
(Rs. in lacs)
Financial year 2011-12 2010-11
Income from operations 34,163.31 37,371.92
Other income 6,027.07 3,828.18
Total Income 40,190.38 41,200.10
Profit before Depreciation,
Interest and Tax 11,323.01 12,360.21
Less: Depreciation 3,672.20 3,380.28
Less: Interest 6,594.41 5,412.67
Profit before tax 1,056.41 3,567.25
Less: Prior Period Items (106.54) (91.45)
Less: Provision for tax including deferred tax 378.29 1,708.61
Profit after tax 784.66 1,950.08
Add: Balance brought forward from the previous year 25,952.59 25,734.80
Profit available for appropriation 26,737.25 27,684.88
Proposed final dividend 379.96 759.91
Tax on proposed dividend 61.64 123.28
Transferto Debenture Redemption Reserve 781.60 849.10
Net surplus in the Statement of profit & loss 25,514.05 25,952.59
The Financial Statements for the Financial-Year ended 31st March, 2012 have
been approved by the Audit Committee.
The Lalit Suri Hospitality Group is one of the fastest growing hospitality
group. All the hotels of the Company are operated under the brand of 'The
LaLiT'. The Group has seventeen luxurious hotels with 3600 rooms in the
five-star deluxe segment and has Nine Operating hotels whereas eight hotels
are under various stages of construction, restoration and planning.
The prestigious hotel project of the Company at Jaipur 'The Lalit Jaipur'
was made open to public with the inaugural dinner of the Great Indian
Travel Bazar by FICCI on the 15th April, 2012.
The renovation and construction works at The Lalit Great Eastern, Kolkata
owned by the subsidiary of the Company i.e Apollo Zipper India Limited is
in full swing and expected to be operational during the current financial
year. The construction of Company's hotel at Chandigarh which is under
joint venture with DLF Limited is progressing satisfactorily and the hotel
is also expected to be operational during the current financial year.
The construction work of company's hotel at Ahmedabad has commenced and it
is expected that the hotel will be operational during the financial year
2013-14. The Company's other hotel projects are at various stages of
planning and the construction for the same is expected to commence soon.
The Company's operational hotels are doing well and the customers have made
most of Company's hotels as their first preference of stay in the cities
where they are operating.
CORPORATE SOCIAL RESPONSIBILITY
The Lalit Suri Hospitality Group believes in developing destinations not
just hotels. It is the people and the environment of the destinations that
account for the success of our hotels. Therefore, our initiatives involve
the local population, promote their handicrafts, culture, food, give
training and employment to the youth thereby giving a boost to the economic
* Your company had organized the 3rd Lalit Suri Polo in June 2011 at Drass,
Kargil and hosted lunch for over 5,000 local residents in Kargil.
* 'Valley of Legends' organized at The Lalit Grand Palace Srinagar, in
September, 2011 to bring back Kashmir's glory to its people reunited
eminent cine personalities under one roof of the sprawling Palace.
* The 'Lalit Utsav 2011' in the month of September, 2011 in Bekal, Kerala
provided the much needed wholesome entertainment for the local residents of
all communities, the turnout over two days exceeded an overwhelming 20,000
* The Lalit Grand Palace, Srinagar organized 'The Lalit Suri Shikarathon'
in October 2011, the longest ever Shikara race at the Dal Lake.
* The Festival of Canacona-Goa was organized in the month of December 2011.
The youth keenly participated in the Lalit Suri Football Tournament, played
in the local stadium. The sands of Raj Baga beach were set on fire by
horses in the first ever Beach Polo Match in India and The Lalit Carnival
'Ano Novo' infused life into Goa carnival.
* In the month of February 2012, The Lalit Resort and Spa Bekal organized
'The Lalit Suri Cycle Race.'
* The Lalit Temple View Khajuraho organized The Lalit Tipaiya-thon in
February, 2012 preceding Shiv Vivaha celebrations on Maha Shivratri.
* The Lalit Suri Ice Hockey organized in Leh-Ladakh in February, 2012 saw
great participation from locals.
* The Lalit Chaupal at Khajuraho in March 2012, brought together civic and
cultural officials of Khajuraho.
* 'Holi Parv' was organized at The Lalit Laxmi Vilas Palace, Udaipur in
Project Disha - an initiative of the Lalit Suri Foundation being
implemented under the overall CSR policy of Bharat Hotels seeks to assist
at one level school students and youth from the local population to have
access to quality 'education leading to employment' and on the other to
equip them - to understand the benefit & opportunities available in today's
The Area of Interventions being undertaken include establishment of a
Library and supplementing teaching in the areas of English and General
Knowledge at the school level and, proving employment oriented vocational
training in the hospitality sector including computer literacy, personality
development, spoken English courses and life skills training with a special
emphasis on workplace behavior to disadvantaged youth in the livelihood
skill centers that have also been instituted alongside. These centres are
currently in operation three locations across India namely,
Khajuraho,Udaipur and Bekal. This year these centres will be opened in
Jaipur and Srinagar.
The initiative is being managed by SEED, a National NGO.
Snapshot of 3 years:
* Total Beneficiaries over 3 years - 2250
* Total in school beneficiaries -1040
* Total Vocational Training Beneficiaries -1210
* Total students placed - 900 (Approx 75%)
AWARDS & RECOGNITION
The following are some of the awards and recognitions that your Company won
during the year 2011 -2012:
National Tourism Awards 2009 - 2010
* Heritage Grand Category - The Lalit Grand Palace Srinagar.
* Best Tourism Promotion Publicity Material - 'Delhi - A Gateway to India',
- The Lalit New Delhi.
* Hotel providing best facilities for differently abled guests- The Lalit
Best Resort Hotel by Asia Pacific International Hotel Award in Association
with Bloomberg Television
* The Lalit Golf & Spa Resort Goa
Third place for the Best System & Procedures for Pollution Control by
Pollution Control Board Awards and Best New Spa Resort 2010 by Pevonia
* The Lalit Resort & Spa Bekal
GMR Express Travel World Awards 2010-2011
* Lifetime Achievement Award - Late Mr. Lalit Suri
* Corporate Social Responsibility- The Lalit Temple View Khajuraho.
Best All Day Dining by Food & Nightlife Awards - Gourmet Gurus 2012
* 24/7 Restaurant, The Lalit New Delhi
Best Nightclub in Delhi by Times Night Life Award 2012
* Kitty Su, The Lalit New Delhi
Best Eco Spa by Geo Spa Asia Spa India Awards 2011-12 and 1st Position at
Kerala State Pollution Control Board Awards 2011-12
* The Lalit Resort & Spa Bekal
Best Small Hotel (India) at 2012 Asia Pacific Hotel Award
* The Lalit Temple View Khajuraho Certificate of Excellence 2012 by
* The Lalit Mumbai,
* The Lalit Ashok Bangalore,
* The Lalit New Delhi,
* The Lalit Grand Palace Srinagar and
* The Lalit Laxmi Vilas Palace Udaipur
Dr Jyotsna Suri, Chairperson & Managing Director of the Company has been
bestowed with the following Awards and recognition during the year:
* World Travel Market Global Award in recognition of her leadership of the
Group and initiatives to promote tourism
* ADTOI Award 2011 for her contribution to Domestic Tourism
* Rotary Club of Delhi 2011 - Lifetime Achievement Award for 'Vocational
* Among the 25 Most Powerful Women (2011) by Business Today
* The Most Popular Woman in Travel Industry voted by TravTalk Readers
* Spa Personality of the Year by Geo Spa Asia Spa India Awards 2011-12
* Asia's Leading Woman in Hospitality by Women in Leadership Asia Awards
Late Mr. Lalit Suri, the founder Chairman & Managing Director of the Group
was awarded the Lifetime Achievement Award by 7th Annual International
Awards by Hospitality India.
Ms. Divya Suri Singh, Executive Director of the Company has been appointed
as Chairperson of Young FICCI Ladies Organization in April, 2012.