Hospitality major EIH Ltd on Thursday (March 28) said its board has greenlighted the construction of an Oberoi luxury resort at Cavelossim beach in South Goa.
"The company, in its Board Meeting held today, has approved the construction of an Oberoi Luxury Resort at Cavelossim Beach in South Goa on a 52 acres site owned by the company,” EIH stated in a stock exchange filing.
The resort will operate under the name, The Oberoi, Goa, and will feature 90 rooms and suites across its sprawling acreage.
With an estimated investment of ₹421 crore, the resort is scheduled to be operational from October 1, 2027. The financing for the project will be sourced through internal accruals and debt.
Additionally, EIH has ventured into another hotel management agreement for a luxury Oberoi resort at Bogmalo beach in South Goa, further expanding its presence in the region.
Shares of EIH Ltd ended at ₹455.25, up by ₹16.05, or 3.65%, on the BSE
