The Oberoi

Shares of EIH Associated Hotels, the flagship company of the Oberoi Group soared up to 9.4 per cent at Rs 925 per share

The group plans to open two new hotels - The Oberoi Rajgarh with 65 keys and The Oberoi Vindyavilas wildlife resort in the Bandhavgarh region of Madhya Pradesh - in the ongoing financial year

Born in 1929, Biki Oberoi was the executive chairman of EIH Limited, the flagship company of the Oberoi Group, from 2002 to 2022

The firm, which owns the Oberoi chain of hotels, posted a pre-tax loss of Rs 11 crore compared to Rs 16 crore profit a year ago

For years, The Oberoi in Delhi has never stopped being the hugely profitable cash cow of the Rs 12 billion holding company, East India Hotels, which runs 33 hotels around the world

The hotel contributed Rs 187 crore, or 14%, to the company's annual revenue in the year ended March 2015

EIH has decided to close down, The Oberoi, New Delhi, for a two-year period beginning April 1, 2016, for renovation