Hyderabad: EIH Ltd, the flagship company of The Oberoi Group, will build a Trident hotel near Shamshabad Airport in Hyderabad at an estimated investment of Rs 777 crore and is expected to open by September 2030.

The company’s board cleared the project at its meeting on Thursday, November 12, EIH said in a regulatory filing.

The five-star hotel will come up on an 8.89-acre plot that the company already owns, close to Rajiv Gandhi International Airport (RGIA). According to the filing, it will serve both domestic and international travellers.

The group already operates a Trident hotel in Hyderabad’s HITEC City.

Q2 earnings

EIH also reported a 21.36 per cent rise in consolidated net profit to Rs 141.46 crore for the July-September quarter, against Rs 116.56 crore in the same period last year.

Revenue from operations rose about 16 per cent to Rs 694.19 crore, from Rs 597.94 crore a year earlier.

Total expenses for the quarter went up to Rs 559.15 crore, compared with Rs 484.33 crore in the corresponding period of the previous fiscal.

(With PTI inputs)