Taj Group, owned by Indian Hotels, which is weighed down by mounting losses and heavy debt on Monday said it sees the group turning around and reporting profit within two years.
“We are already cash (EBIDTA) positive and a positive PAT (profit after tax) is two years away. The just-concluded fiscal should be better than the previous one,” company’s managing director and chief executive Rakesh Sarna said.
This was his maiden media interaction after taking over the mantle eight months ago. In an abrupt exit last August, Raymond Bickson had quit Indian Hotels as its managing director. Sarna was, however, quick to add that this target is not cast in stone and can be attained earlier or later depending on the macro environment.