Savera Industries Ltd

Savera Industries Limited was initially incorporated as 'Savera Enterprises Limited' in 1969. The name of the Company was changed from 'Savera Enterprises Limited' to Savera Hotel Limited in 1995. The Company later changed the name to Savera Industries Limited in 2006. The Company is engaged in the business of Hoteliering. It owns and operates an 4 star Savera Hotel in Chennai. It also operates a Restaurant cum Pub at Bangalore and Hyderabad. The Company in Jan.'95, tapped the capital market to expand its room capacity (from 125 to 261 rooms) and to add other facilities. Its new conference halls are becoming increasingly popular. Thirty-four guest rooms on the third and fourth floors (a part of the expansion project) are ready for occupation. As a part of diversification, the Company acquired floriculture business, with effect from 21st July 2006, by investing 85% in equity shares of M/s Elkhill Agrotech (P) Ltd, Tamil Nadu. After the farm preparatory works, its commercial operation commenced from May 2007. It commenced 2 Health Studio at Mogappair in 2007-08. It started a hotel in Marathahalli, Bengaluru under the name of 'Lotus Park' in 2011. The renovation work at Chennai unit was taken up in 2012. Such renovation work to a certain extent, affected the turnover of Chennai unit during the FY 2013-14. The Company closed the business at its Unit i.e. Walnut Hotel at Hyderabad in 2015. Savera Purple situated at Bengaluru closed its operations in 2017.