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A Detailed Project Report
On
HOTEL STONE HEAVEN
SUBMITTED BY:
Group No: 1
Abraham Mathewkutty 05002
Manish Changrani 05009
Digvirbhai Sodha 05013
Bharat Kewalramani 05018
Sandeep Patel 05032
Sheena Easow 05045Urvi Sonetta 05047
Meera Thacker 05050Kunal Vaswani 05053
SUBMITTED TO:
Prof. Nitin G. Hiranandani
TOLANI INSTITUTE OF MANAGEMENT STUDIES
ADIPUR (KACHCHH)
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I. INTRODUCTION
About the Project
Set-up 4 star category hotel with 45 rooms and 5 suits. Facility of Restaurant, Banquet Hall and Conference Room.
Swimming Pool and Health Club.
Recreation Facilities (Disco, Party Plot)
Why Such Project Selected:
Gandhidham and its surrounding areas have very little to offer from the tourist
attraction point of view, it is more of industrial sector than an attraction location.However it is not that the hotels run by the holiday makers only, as is evident in
our survey here were there is requirement of hotel room all the year round. This is
mainly due to the continuous floating population of middle management
executives and at times top management executive of big companies, who
frequently visit this area mainly due to foreign exchange income being sourced
from here by the virtue of port activities and the large special economic zone.
On account of this type of gigantic activity it is surprising that none one of the
corporate have set-up their own Guest House and hence large dependence is onHotel Rooms and the facility offered by the hotel flourished in spite of being no
where near the first class of international level, hence international standard hotel
would do extremely well here. In addition, due to the local population being from
the upper middle class and business community, there is enormous scope for
banqueting and wedding parties here. The discretionary income of the people in
and around Gandhidham being very high, people here tend to spend a lot on
luxury.
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I. Personal Information Of Entrepreneurs
Name : - Abraham Mathewkutty
Address : - C-76, NU 4, Sapnanagar, GandhidhamTel Nos. : - 9824827768
Date of Birth : - 11th October, 1984
Educational Qualification: -
Name : - Manish Changaani
Address : - TRS-36, WARD 4A, ADIPUR-KUTCH
Tel Nos. : - 9825009707
Date of Birth : - 8th February, 1985
Educational Qualification: -
Degree Institute Major Subject Year P G D B M Tolani Institute of
Management Studies
Marketing 2007
B Com Tolani CommerceCollege
Advance
Accountancy
& Auditing
2005
Degree Institute Major Subject Year
P G D B MTolani Institute of
Management StudiesFinance 2007
B ComTolani Commerce
College
Advance
Accountancy &
Auditing
2005
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Name : - Digvirbhai Sodha
Address : - NTPC complex, Surat
Tel Nos. : - 9998420590
Date of Birth : - 14th August, 1984
Educational Qualification: -
Name : - Bharat Kewalramani
Address : - Plot no.316, Lilashah Nagar, Gandhidham
Tel Nos. : - 9898425390
Date of Birth : - 10th April, 1985
Educational Qualification: -
Name : - Sandeep Patel
Address : - Ward 2B, Plot no. 316, Adipur- Kutch
Tel Nos. : - 9898913418
Degree Institute Major Subject Year P G D B M Tolani Institute of
Management Studies
Marketing 2007
B Com University of Madras
Advance
Accountancy &
Auditing
2005
Degree Institute Major Subject Year P G D B M Tolani Institute of
Management Studies
Marketing 2007
B ComTolani Commerce
College
Advance
Accountancy &
Auditing
2005
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Date of Birth : - 16th July, 1984
Educational Qualification: -
Name : - Sheena Easow
Address : - 216 B, Apnanagar, Gandhidham
Tel Nos. : - 02836 - 229340
Date of Birth : - 29th January, 1985
Educational Qualification: -
Name : - Urvi Sonetta
Address : - Plot No:- 43, Mahadevnagar; Anjar
Tel Nos. : - 9824813347
Date of Birth : - 16th January,1984
Educational Qualification: -
Degree Institute Major Subject Year P G D B M Tolani Institute of
Management Studies
Finance 2007
B ComTolani Commerce
College
Advance
Accountancy &
Auditing
2005
Degree Institute Major Subject Year P G D B M Tolani Institute of
Management Studies
Finance 2007
B Com
Tolani Commerce
College
Advance
Accountancy &Auditing
2005
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Name : - Meera Thacker
Address : - Plot No:-283, Sec. :- 1-A; Gandhidham
Tel Nos. : -9879700258
Date of Birth : - 18th August, 1985
Educational Qualification: -
Name : - Kunal Vaswani
Address : - S.E.X.-55, Behind Adiser Pond, Adipur-Kutch
Tel Nos. : - 9825235062
Date of Birth : - 8th Nov,1985
Educational Qualification: -
Degree Institute Major Subject Year P G D B M Tolani Institute of
Management Studies
Finance 2007
B ComTolani Commerce
College
Advance
Accountancy &Auditing
2005
Degree Institute Major Subject Year P G D B M Tolani Institute of
Management Studies
Finance 2007
B ComTolani Commerce
College
Advance
Accountancy &
Auditing
2005
Degree Institute Major Subject Year P G D B M Tolani Institute of
Management Studies
Marketing 2007
B Com
Tolani Commerce
College
Advance
Accountancy &Auditing 2005
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Name : Dinesh Ghakkar
Address : Plot No. 443, Lilashahnagar, Gandhidham
Tel Nos. : 9825361830
Date of Birth : 29th December, 1975
Mr. Ghakkar is a leading hotelier of Gandhidham with three hotels in town. He is
also involved in the business real estate in Gandhidham.
Moreover majority of the promoters are management graduates with a good
combination of marketing and finance.
III. Present Status and Market Potential
Basic Market Information:
Gandhidham at present has only 5 hotels which could be categorized at the level
not exceeding 2 to 3 Stars, they are as follows:
Holiday Village Resort
This property is around 7 Kms. From Gandhidham near the Kandla airport and it
runs on the lines of a resort. It has a swimming pool, health club, indoor sports
complex and an amusement park with one garden as well as indoor restaurant. It
has one conference hall.
Hotel Chandan
This hotel is situated close to the railway station, but the area is more crowded with
trucks and tankers parked there as it is very near to the transport nagar. The hotel
has around 40 rooms with one restaurant, one banquet hall and a coffee shop. They
are providing Indian and Chinese food in the restaurant.
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Hotel Shiv
The hotel has around 35 rooms with two restaurant and essential services required
by any normal hotel. After the earthquake it has been renovated again and has now
been made beautiful. In terms of property it has a good location in between the
Gandhidham main market, but does not have a good landscaping in terms of
garden. In the restaurant it is serving Indian and Chinese cuisine.
Hotel Madhuban
The hotel has also been newly reconstructed now after the earthquake. It has
around 35 rooms with direct dialing facilities, cable T.V, however, refrigerators are
restricted to suites and deluxe rooms only. The hotel is not centrally air
conditioned. It has one A.C. restaurant serving Indian and Chinese cuisine and one
banquet hall. In terms of operating standards we could say that it is a two star hotel
with good layout.
Sharma Resorts:
This property is around 6 Kms. from Gandhidham near to the Kandla airport and it
runs on the lines of a resort, where cluster units are housing around 45 operational
rooms with air conditioners. It has a swimming pool, health club, indoor sports
complex and an amusement park, an artificial waterfall and a lake with paddleboat
along with one garden restaurant and one indoor restaurant. It also has one
conference room.
The rack rates offered by the best hotels in town are as follows:
(fig in Rs.)
HOTEL VILLAGE RESORT SINGLE BED DOUBLE BED
A/C Deluxe 1800 2000
Executive 2500 2800Suites 3500 3800
Royal Suites 5200
HOTEL CHANDAN SINGLE BED DOUBLE BED
Non A/C 350 450
With A/C 550 700
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A/C Deluxe 650 800
Executive Room 900 1050
HOTEL MADHUBAN SINGLE BED DOUBLE BED
With A/C 1000 1200A/C Deluxe 1500 2000
Executive Room 2500 3000
Suites 5000 5500
HOTEL SHIV SINGLE BED DOUBLE BED
With A/C 1200 1400
Executive Room 2000 2200
Suites 4500 5000
SHARMA RESORTS SINGLE BED DOUBLE BED
A/C Deluxe 1000 1200
Executive Room 1800 2000
Suites 3400
Royal Suites 4500
Rajvi Resorts SINGLE BED DOUBLE BED
A/C Deluxe 1200 1350
Executive Room 2000 2300
Non A/C Deluxe 750 900
In addi t ion to the above, there are 10 small hotels having an
average 15 rooms each. The current demand for f irst c lass
accommodation is around 500 rooms per day giving approximate
1,82,500 room night as against this the current supply is around
only 185 rooms of this type, thereby there is gap of 1 ,15,000
room night per year.
Expected Customers:Our hotel would at tract the top executives of the fol lowing
companies visiting this town.
Indian Oil Corporation Ltd.
Hindustan Lever Ltd.
IFFCO
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Welspun India Ltd.
Man Industries Ltd.
Hindustan Petroleum Corporation Ltd.
EURO Ceramics Ltd.
We also expect an excel lent response in banquet ing from the
res idents , as we have observed a tendency to have a large
banquet parties at a regular intervals.
Scope for diversification:
We intend to work out f ranchisee cum management control
arrangement with Taj group of hotels nationwide.
IV. Type of Unit and site selection:
Name of Unit : HOTEL STONE HEAVEN
Address : Galpadar Road, Near BSF Camp;
Gandhidham
Type of Unit : Hospitality
Techno-Economic reasons for site selection
Requirement of Land & Building : Land size 2613.38 Sq.
Mtrs has already been acquired by the promoter.
V.Cost of Project
The cost of the project has been estimated as:
Sr. No Particulars Value Rs.
(In Lacs)
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1 Land 10.00
2 Hotel Building 186.00
3 Machinery & Equipments
(Including installation, etc.)
92.00
4 Furniture and Fixture 140.005 Miscellaneous Fixed Assets 32.00
6 Preliminary & Preoperative Expenses 50.25
7 Working Capital Margin 10.00
Total 520.25
VI.Means of Finance
The cost of the project as stated above is suggested to be met through the
following sources:
Sr.
No
Particulars Value Rs.
(In Lacs)
Remarks
1 Promoters
Contribution
150.00 Rs. 100 Lac invested
by Mr.Ghakkar and
rest Rs.50 Lac
invested by remaining
promoters.
2 Unsecured Loan 110.25 Funded by friends &
relatives
3 Term Loan 260.00 @ 10.5% interest
Total 520.25
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VII.Preliminary & Pre-operative Expenses
Sr. No Particulars Value Rs
(In Lac)
Remarks
1 Legal Expenses 7.00 Registration, Legal
& other issues
2 Project Report
Preparation
Nil Prepared by
partners
3 Establishment Expenses 35.50 Architect fee,Interior
Decoration fee.
4 Electrification & Water
Deposits
3.00 Three Phase &
water deposits
5 Inauguration Expenses &
other expenses
4.75 Advertising,
Promotion
Total 50.25
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VIII. Annual Production Programme:
No. of Days : 270.00
No. of Rooms : 50.00
Room Occupancy(%) : 50.00
Room Night Sold : 6750.00
Average Room Rate : 3140.00
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IX. Manpower Requirements
X. Infrastructure Facilities:
Sr.
No
ParticularsNo
s
.
TotalWages
&Salaries
/Month/p
erson
YearlyRs.
(In Lac)
A Hotel Staff 21 6400027
.121.Waiters128,00011.522.Chief Chef128,0003.363.Assistant
Chef315,0005.404.Assistant Cook48,0003.845.Security
Guard55,0003.00BOffice Staff411,5003.181.ComputerOperator Cum-
Accountant37,5002.702Receptionist14,0000.48Total75,50030.30
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1. Electricity/ Year :- 1,80,000 K.V.2. Fuel Requirement / Year :- Gas - 3420 KG.
(Oil & Gas) Diesel 30,000 litres
Oil 3780 litres3. Water Requirement / Day :- 36,00,000 litres
4. Transportation etc. :- Car Hire Service
5. Availability & Possibilities of meeting these requirements: - All facilities
are easily available & can possibly be met.
XI. Utilities & Overhead Cost:
XII. Administrative Expenses
Sr.N
o
Particulars Monthl
yRup
ees
(In Lac)
Total
Annual
Expe
nses
(In Lac)
Remarks
1 Electricity 1.125 13.50 1,80,000 K.V @7.50 per unit
2 Water & Fuel 1.224 14.69 Waterconsumption @0.10/litre, diesel@ 35/litre, gas @1000 per 19 kg.and Oil @ 100per litre
3Repair &Maintenance
0.1875 2.25
4 Misc. ( Upkeepingexpenses)
0.765 9.180
7 Total (Rs.) 3.3015 39.62
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XIII. Break Even Calculations
Sr.No
.
Description Monthly Rs.
Yearly
Rs. (In
Lac)
1.Stationery &Printing
2,083 0.25
2.Telephone/ Fax/Telegrams
7,500 0.90
3.Rent, Taxes &Insurance
35,833 4.30
4. Misc. expenses 1,000 0.12
Total 46,416 5.57
Particulars
Amo
un
t
(In Lac)Total Service Cost: - 250.28Fixed Cost: - 61.99
Variable Costs :- 188.29
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* Contribution = Sales Income Variable cost
= 274.35 188.29
=86.06
* B.E.P (%) = {Fixed Cost / Contribution} * sales
= {61.99/ 86.06} * 100
= 72.03%
XIV. Analysis of Break Even Point (BEP)
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XV. Project Implementation Schedule
Particulars Weeks/Days
i. Market Survey 20-25 days
ii. Acquisition of License / Permissions 40-60 days
iii. Project report 10-15 days
iv. Loan application for fixed assets & W. Cap 60-90 days
Particulars Amount Variable Costs
Food & Beverages 27.55Electricity Exp. 13.50Selling & Distribution 6.89Preliminary Exp. 50.25
Interest 16.51Depreciation 58.9
Total Variable Cost 188.29
Fixed CostsRepairs & Maintenance 2.25Water & Fuel 14.69Administrative Expenditure 5.57Salary 30.30
Up-keeping 9.18Total Fixed
Costs
61.99
Surplus 86.06Income from sales p.a 274.35
Total Variable cost 188.29
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v. Machinery Orders 60-90 days
vi. Power Connection 90 days
vii. Employment of People 40-60 days
viii. Electrification 25-30 days
Annexure
Annexure : 1 Machinery/Equipment Requirements
S.No. Description Total Value
(Rs. in
lakhs(
Name and Address of
Suppliers
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1. Kitchen Equipments 12.00 Apex Home
Appliances, Mumbai.
2. Refrigeration (deep freezers, water
coolers, water treatment plant, etc(.
5.00 Jalaram electronics,
Gandhidham.
3. Centralized Air conditioner & Lifts 20.00 Flex Company,Mumbai.
4. Others (computer system, electrical
connection, D.G. set,
telecommunication system, health
club equipments etc(.
55.00 Pars Enterprise,
Vimal Sports and
Stationery.
Total 92.00 -
Annexure 2: - Other Fixed Assets
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SR
NO.
ITEM VALUE (RS(.
)In Lac(
1. Land / Building 196.00
2. Furniture & Fixtures
140.00
TOTAL 336.00
Annexure: 3 Expected Service Cost
Sr. No. Particulars Stocking Period Yearly Rs.
)In Lac(1. Food and Beverages 7Days 27.55
2. Utilities 30Days 39.62
3. Development Expenses --- 50.25
4. Salaries 30days 30.30
5. Admn. Expenses 30days 5.57
6. Selling Expenses 6.89
7. Other Misc. Expenses 14.69
Total Expenses 174.87
11 Interest --- 16.51
12 Depreciation --- 58.90
Total Service Cost 250.28
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Annexure :- 4 Sales Revenue
Sr
No.
Type of Room No. of
Rooms
Charges per
Room1. Single A/C 10 1,500
2. Double A/C 15 2,200
3. Special Deluxe 10 3,000
4. Executive Room 10 4,000
5. Suits 5 5,000
Annual Production Programme:
No. of Days : 270.00
No. of Rooms : 50.00
Room Occupancy(%) : 50.00
Room Night Sold : 6750.00
Average Room Rate : 3140.00
Sr.
No.Particulars
Room
NightSold
Monthly
Room Night
Sold Yearly
Annual
Value Rs.
(In Lac(
1. Room Sales 562.5 6750 211.95
2. Food and Beverages Sale -- -- 55.10
3.Misc. Sales [Membership Fee,
Rent of Party Plot, etc[.-- -- 7.30
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Total 274.35
***********Annexure :-6 Working Capital
i)Utilities for 2 monthsRs.6.00
ii)Receivables for 3 monthsRs. 1.08
iii)Salary for one monthRs. 2.00
iv) Admn. Expenses for 2 monthsRs. 0.92----------------------TotalRs. 10.00
=============
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Annexure:- 7Interest
Statement of Interest on Term Loan and Repayment
Amount 260-/Lac
Interest 10.50%
Repayment 84Monthly Installment of Rs.4.65/-Lac each starting from September 2007
Installment
No. Year Month
Opening
Balance Interest
Repayment
Installment
Interest
Closing
Balance
Total
Interest
Total
Repayment
2006-07 Dec-06 52.00 0.46 52.46
Jan-07 104.46 0.91 0.00 0.00 105.37
Feb-07 157.37 1.38 0.00 0.00 158.75
Mar-07 210.75 1.84 0.00 0.00 212.59
2007-08 Apr-07 264.59 2.32 0.00 0.00 266.91
May-07 266.91 2.34 0.00 0.00 269.25
Jun-07 269.25 2.36 0.00 0.00 271.60
Jul-07 271.60 2.38 0.00 0.00 273.98
Aug-07 273.98 2.40 0.00 0.00 276.38
1 Sep-07 276.38 2.42 0.00 0.00 274.15
2 Oct-07 274.15 2.40 2.23 2.42 271.90
3 Nov-07 271.90 2.38 2.25 2.40 269.62
4 Dec-07 269.62 2.36 2.27 2.38 267.33
5 Jan-08 267.33 2.34 2.29 2.36 265.02
6 Feb-08 265.02 2.32 2.31 2.34 262.69
7 Mar-08 262.69 2.30 2.33 2.32 260.34 16.51 32.55
8 2008-09 Apr-08 260.34 2.28 2.35 2.30 257.97
9 May-08 257.97 2.26 2.37 2.28 255.58
10 Jun-08 255.58 2.24 2.39 2.26 253.16
11 Jul-08 253.16 2.22 2.41 2.24 250.73
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12 Aug-08 250.73 2.19 2.43 2.22 248.27
13 Sep-08 248.27 2.17 2.46 2.19 245.79
14 Oct-08 245.79 2.15 2.48 2.17 243.29
15 Nov-08 243.29 2.13 2.50 2.15 240.77
16 Dec-08 240.77 2.11 2.52 2.13 238.23
17 Jan-09 238.23 2.08 2.54 2.11 235.66
18 Feb-09 235.66 2.06 2.57 2.08 233.08
19 Mar-09 233.08 2.04 2.59 2.06 230.47 25.93 55.80
20 2009-10 Apr-09 230.47 2.02 2.61 2.04 227.83
21 May-09 227.83 1.99 2.63 2.02 225.18
22 Jun-09 225.18 1.97 2.66 1.99 222.50
23 Jul-09 222.50 1.95 2.68 1.97 219.79
24 Aug-09 219.79 1.92 2.70 1.95 217.07
25 Sep-09 217.07 1.90 2.73 1.92 214.31
26 Oct-09 214.31 1.88 2.75 1.90 211.54
27 Nov-09 211.54 1.85 2.77 1.88 208.74
28 Dec-09 208.74 1.83 2.80 1.85 205.92
29 Jan-10 205.92 1.80 2.82 1.83 203.07
30 Feb-10 203.07 1.78 2.85 1.80 200.20
31 Mar-10 200.20 1.75 2.87 1.78 197.30 22.63 55.80
32 2010-11 Apr-10 197.30 1.73 2.90 1.75 194.37
33 May-10 194.37 1.70 2.92 1.73 191.43
34 Jun-10 191.43 1.67 2.95 1.70 188.45
35 Jul-10 188.45 1.65 2.98 1.67 185.45
36 Aug-10 185.45 1.62 3.00 1.65 182.42
37 Sep-10 182.42 1.60 3.03 1.62 179.37
38 Oct-10 179.37 1.57 3.05 1.60 176.29
39 Nov-10 176.29 1.54 3.08 1.57 173.18
40 Dec-10 173.18 1.52 3.11 1.54 170.05
41 Jan-11 170.05 1.49 3.13 1.52 166.88
42 Feb-11 166.88 1.46 3.16 1.49 163.69
43 Mar-11 163.69 1.43 3.19 1.46 160.48 18.98 55.80
44 2011-12 Apr-11 160.48 1.40 3.22 1.43 157.23
45 May-11 157.23 1.38 3.25 1.40 153.96
46 Jun-11 153.96 1.35 3.27 1.38 150.65
47 Jul-11 150.65 1.32 3.30 1.35 147.32
48 Aug-11 147.32 1.29 3.33 1.32 143.96
49 Sep-11 143.96 1.26 3.36 1.29 140.57
50 Oct-11 140.57 1.23 3.39 1.26 137.15
51 Nov-11 137.15 1.20 3.42 1.23 133.70
52 Dec-11 133.70 1.17 3.45 1.20 130.22
53 Jan-12 130.22 1.14 3.48 1.17 126.71
54 Feb-12 126.71 1.11 3.51 1.14 123.17
55 Mar-12 123.17 1.08 3.54 1.11 119.60 14.92 55.80
56 2012-13 Apr-12 119.60 1.05 3.57 1.08 115.99
57 May-12 115.99 1.01 3.60 1.05 112.36
58 Jun-12 112.36 0.98 3.64 1.01 108.69
59 Jul-12 108.69 0.95 3.67 0.98 104.99
60 Aug-12 104.99 0.92 3.70 0.95 101.26
61 Sep-12 101.26 0.89 3.73 0.92 97.50
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62 Oct-12 97.50 0.85 3.76 0.89 93.70
63 Nov-12 93.70 0.82 3.80 0.85 89.87
64 Dec-12 89.87 0.79 3.83 0.82 86.00
65 Jan-13 86.00 0.75 3.86 0.79 82.11
66 Feb-13 82.11 0.72 3.90 0.75 78.18
67 Mar-13 78.18 0.68 3.93 0.72 74.21 10.41 55.80
68 2013-14 Apr-13 74.21 0.65 3.97 0.68 70.21
69 May-13 70.21 0.61 4.00 0.65 66.17
70 Jun-13 66.17 0.58 4.04 0.61 62.10
71 Jul-13 62.10 0.54 4.07 0.58 58.00
72 Aug-13 58.00 0.51 4.11 0.54 53.85
73 Sep-13 53.85 0.47 4.14 0.51 49.67
74 Oct-13 49.67 0.43 4.18 0.47 45.46
75 Nov-13 45.46 0.40 4.22 0.43 41.21
76 Dec-13 41.21 0.36 4.25 0.40 36.92
77 Jan-14 36.92 0.32 4.29 0.36 32.59
78 Feb-14 32.59 0.29 4.33 0.32 28.23
79 Mar-14 28.23 0.25 4.36 0.29 23.82 5.41 55.80
80 2014-15 Apr-14 23.82 0.21 4.40 0.25 19.38
81 May-14 19.38 0.17 4.44 0.21 14.90
82 Jun-14 14.90 0.13 4.48 0.17 10.38
83 Jul-14 10.38 0.09 4.52 0.13 5.82
84 Aug-14 5.82 0.05 4.56 0.09 0.00 0.65 24.47
5.82 0.05
Annexure:- 8 Depreciation
Particulars Percentage Yearly Amount Rs.
)In Lac(
Furniture & Fixtures 10% 14
Machinery /
Equipments
15% 13.8
Building 15% 27.9
Other Misc. FixedAssets
3.2
Total Amount 58.9
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Annexure:- 9 Cash Flow Statement
)
Amount in Lacs(
Projected Cash Flow Statement
Inflow 2006-07 2007-08 2008-09 2009-10
Promoter's Contribution 150.00 0.00 0.00 0.00
Term Loan 212.59 47.75 0.00 0.00
Unsecured Loan 110.25 0.00 0.00 0.00
Profit before Dep. 0.00 84.97 146.38 162.82
Total Inflow 472.84 132.72 146.38 162.82
Outflow
Capital expenditure on project 462.84 47.40 0.00 0.00
Investment 0.00 40.80 55.03 60.72
Repayment of loan 0.00 16.04 29.87 29.87
Increase in Curremt asset 0.00 5.00 5.00 0.00
Tax 0.00 7.41 32.47 40.69
Total Outflow 462.84 116.65 122.37 131.28
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Opening balance 0.00 10.00 26.07 50.08
Surplus/Deficiet 10.00 16.07 24.01 31.54
Closing Balance 10.00 26.07 50.08 81.62
Annexure 10: Declaration of Promoters
We as promoters of HOTEL STONE HEAVEN, hereby
declare that the information given in the repor t is true to the
best of our knowledge and belief.
Mr. Dinesh Ghakhar
Mr. Abraham Mathewkutty
Mr. Manish Changrani
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Mr. Digvirbhai Sodha
Mr. Bharat Kewalramani
Mr. Sandeep Patel
Ms. Sheena EasowMs. Urvi Sonetta
Ms. Meera Thacker
Ms. Kunal Vaswani