Mac Charles (India) Share Price

Mac Charles (India) Limited, incorporated in September 1979, had established its hotel in collaboration with Holiday Inn, a division of Bass, UK. The hotel was promoted by C B Pradhanani, an NRI tycoon from Dubai. The fivestar hotel made a soft opening in November, 1986. In the next two years, the facilities gradually became functional and the hotel additives were in full swing. Failure to achieve planned business volumes, coupled with huge interest burden, sent it into the red. After a long downturn, there was a change in the Companys Fortunes in 199394. Presently, the Company is engaged in the ownership and management of commercial real estate assets, wind energy generation, and real estate development activities. The Company has historically operated as a hospitality and commercial real estate asset owner and has expanded its objects to include real estate development in line with its longterm value creation strategy.The Companys flagship commercial asset, Embassy Zenith in Bengaluru, is a fully leased Grade A office building having the longterm strategic holding. The Company operates wind turbine generators (WTGs) and sale of electricity to GESCOM, HESCOM and thirdparty consumers.The company has not spent much money on hotel renovation and refurbication and it may spend Rs 23 Crore on the entire renovation and refurbication as the Holiday Inn collaboration is nearing expiry and the Holiday Inn group will not renew it unless the hotel is totally renovated and refurbished.In 200304, the Company has disinvested in Vaswani Properties Private Ltd and in Vaswani Investments and Holdings Private Ltd.M/s. Starwood Hotels Resorts, USA acquired Le Meridien Group of Hotels worldwide, in 200506. The Company invested 100% share capital in Messrs. Nedstar Hotels Private Limited effective on 18 June, 2010. M/s. Starwood Hotels Resorts, USA acquired Le Meridien Group of Hotels worldwide, in 200506. The Company invested 100% share capital in Messrs. Nedstar Hotels Private Limited effective on 18 June, 2010. The Company acquired 100% shareholding in Blue Lagoon Real Estate Private Limited and Neptune Real Estate Private Limited on 5th July, 2019 and hence they became wholly owned subsidiaries during the year 201819.The Company in 2022, disposed of its investments in wholly owned and material subsidiary i.e. Airport Golfview Hotels Suites Pvt Ltd. And it ceased to be a subsidiary and also the material subsidiary of the Company. It acquired the investments in equity shares of Embassy Bhivandi Projects Private Limited and the name of this Company was changed to Mac Charles Hub Projects Private Limited.In 2024, the Company diversified into the real estate property development business as per Main Objects clause of the Memorandum of Association of the Company. The preliminary work for construction of a landmark commercial building Zenith at the erstwhile site of the Le Meridien Hotel was completed in 2024.During the year 202526, Mac Charles Hub Projects Private Limited became a debtlisted entity upon listing of its debt securities on BSE Limited.