DRL may foray into hospitality sector

Courtesy: Times of India, dt. 29.06.09

You may have heard of pharmaceutical companies diversifying into hospitals, but for Hyderabad-based Dr Reddy’s Laboratories Limited (DRL)
a foray into hospitality seems to be par for the course.

Yes, the Rs 6900 crore turnover DRL group is learnt to be venturing into hospitality with a four-star, 200-odd rooms hotel property in Hyderabad.

Interestingly, the hotel, which is coming up over a nearly 2-acre plot on the Hitech City-Madhapur Road near My Home Navadweepa at a cost of around Rs 100 crore, is tipped to be named Stamlo after Dr Reddy’s Labs blockbuster hypertensive drug brand Stamlo, said sources in the know. In fact the project is being put up by Stamlo Hotels Pvt Ltd.

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http://timesofindia.indiatimes.com/Cities/Hyderabad/DRL-may-foray-into-hospitality-sector/articleshow/4714086.cms