June 2nd, 2009 
Tushar Mathur
New Delhi, June 2, 2009: The State owned India Tourism Development Corporation (ITDC) has declared a 20% dividend for the financial year 2007-2008. This is the 2nd consecutive year that ITDC has declared dividend. Before that the last dividend was paid in 1998-99.
During the financial year 2007-2008, the turnover of the company stood at Rs 470.27 crore & profit before tax increased to Rs 69.41 crore in 2007-2008 as against Rs 68.77 crore in the previous year, showing a consistent growth.
ITDC has launched a major upgradation drive for all its hotel properties including the flagship The Ashok, New Delhi. The Janpath hotel in New Delhi has had a complete makeover with 151 rooms renovated & redone.
F&B upgradation has also been done which includes launch of The Oudh Restaurant at The Ashok, and launching of branded franchise restaurants at The Ashok, Janpath and Samrat Hotels.
The key divisions of India Tourism Development Corporation, especially the Hotels Division have shown substantial increase in their performance & quality. With renewed strategies and operational touch points The Ashok, New Delhi & other properties in Delhi & outside have shown manifold increase in their financial figures.
As a result of these dividends, The India Tourism Development Corporation share was last traded at Rs 99.60.
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