Sandur Manganese & Iron Ore has announced the incorporation of Royal Sandur Hospitality as a wholly owned subsidiary, marking the company's entry into the hospitality sector. According to reports from Business Standard, the new subsidiary has been incorporated to carry on the business of hospitality including development, ownership, operation and management of hotels, resorts, serviced apartments, restaurants and allied establishments.
As reported by Business Standard, Sandur Manganese & Iron Ore holds 100% equity share capital of the subsidiary. The company has subscribed to 10 lakh equity shares of Royal Sandur Hospitality with a face value of ₹10 each, aggregating to an investment of ₹1 crore. The subsidiary will operate under the flagship company of the Karnataka-based Sandur Group, which is involved in mining of low-phosphorous manganese and iron ore in the Hosapete-Ballari region of Karnataka.
According to Business Standard, Sandur Manganese & Iron Ore reported strong financial results for Q1 FY27. The company achieved a 36.28% jump in consolidated net profit to ₹227.09 crore on a 21.09% increase in net sales to ₹1,374.78 crore compared to Q1 FY26. The company's shares rose 0.96% to close at ₹198.95 on the BSE following the announcement.
As reported by Business Standard, the diversification into hospitality sector reflects the company's strategic expansion beyond its core mining operations. The subsidiary incorporation represents Sandur Manganese & Iron Ore's entry into the hospitality industry, potentially diversifying revenue streams and expanding the group's business portfolio.
