Dhroov Resorts, a 4- star hotel project in Shimla, is likely to commence operations in April 2015 as against the original deadline of April 2014. The project faced cost and time overrun from the earlier planned estimates which was mainly due to unexpected heavy rainfall and snow in the month of December 2013. There has also been change in the scope of the project which has led to increase in the total covered area from 2,300 sq mtrs planned earlier, to 4,500 sq mtrs. Due to these factors the cost of the project has gone up from Rs. 16.8 crore to Rs. 18.8 crore. The project cost is funded through debt of Rs. 11 crore and promoter’s capital of Rs. 7.8 crore. Till the end of March 2014, more than 80% of the project cost has been incurred. The resort is being developed by Balbir Singh Verma Verma who is a MLA in Himachal Pradesh assembly.
