The Managing Director of India Tourism Development Corporation Limited (ITDC), MR Synrem, stated that the state-owned company is actively pursuing new business prospects while enhancing its current operations.
This strategic approach aims to build upon the exceptional financial results of the previous fiscal year and sustain the positive momentum.
The corporation specializing in hospitality, travel, tour, events, and engineering consultancy services aims to enhance its presence in Mumbai, Chennai, and Kolkata by transforming these locations into regional hubs for its operations.
“We are not just looking to grow, but also to elevate our current offerings, aim higher, and explore new business prospects for ITDC,” said Synrem during the launch of the company’s new mascot ‘Adyant’ and updated tagline.
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Discussing the latest business opportunities, he mentioned, “We successfully secured a contract for a new duty-free store at Vizag (Visakhapatnam) airport after participating in a competitive bidding process. This venture is set to launch in the near future.”
In regard to enhancing the operations of India Tourism Development Corporation (ITDC) regional offices for business expansion, he noted that the current staffing levels in Mumbai, Chennai, and Kolkata offices are insufficient, with only one officer assigned to each regional office.
“Our team is currently exploring ways to enhance the capabilities of our regional offices and establish them as regional hubs for our business expansion,” stated Synrem. “There is no business that cannot flourish in these regions.”
In reference to Ashok Events, known for organizing events for the Prime Minister, Synrem added, “We are also focused on strengthening our event division to cater to government events not only in Delhi but also to broaden our reach to other regions.
Many government departments and state governments are eager to collaborate with PSUs, including Ashok Events. The company has the opportunity to expand beyond Delhi and explore opportunities in other regions.
It is essential to strengthen our regional offices and strategize on how to maximize business potential. As part of this effort, Ashok Events aims to secure more business opportunities.
Additionally, ITDC is in the process of developing an online booking portal for tickets and is collaborating with RailTel to transition from offline to digital ticketing.
The speaker expressed optimism that the code of conduct for general elections will be implemented soon, allowing for the launch of the service.
Initially, the platform will focus on booking flight tickets and will gradually expand to include additional services. The integration will eventually include booking transport services like airport-to-hotel cab services in various cities.
Synrem expressed the company’s objective to enhance its existing resources and maximize their efficiency, ultimately revitalizing the entire system. He highlighted ITDC’s abundance of skilled personnel and capabilities to achieve this goal.
In the fiscal year 2022-23, ITDC achieved a significant milestone by generating a record revenue of Rs 458.08 crore and a net profit of Rs 60.33 crore. Looking ahead, the company is determined to sustain this growth trajectory.
During the event, ITDC Chairman Sambit Patra remarked that the financial year 2022-23 marked one of the most successful periods for the company.
When questioned about the hotel business in light of disinvestment rumors, Synrem replied, “I can assure you that we are committed to providing exceptional service to all our guests visiting our hotels in the capital city, whether they are here for a stay, event, or wedding. Our team is dedicated to delivering the highest quality experience.”
