There is a need for budget hotels in the country and ITDC can play a role here, Sahai said after receiving the divided cheque of Rs 3.95 crore for fiscal 2011-12 from ITDC.
The cheque was handed over to Sahai by ITDC Vice-Chairman and Managing Director Lalit K Panwar here.
The annual turnover of the ITDC, a subsidiary of Tourism Ministry, has increased from Rs 392.36 crore to Rs 423.06 crore registering an increase of 7.82 per cent in 2011-12.
The Corporation has earned a profit of Rs 22.02 crore for this fiscal as against a loss of Rs 11.73 crore during 2010-11 and a loss of Rs 20.51 during 2009-10.