Leading hospitality company Hotel Leela Venture is all set to invest around Rs 22 billion in the next three years (2010) to set up five new hotels and a service apartment in Gurgaon near Delhi.

The new hotels will be established in Pune, Hyderabad, Chennai, Delhi and Udaipur.

The company has already expended Rs 11 billion on 86 service apartments that it is projecting to built up in Gurgaon.

A few of the subsisting Leela hotels including in Goa and Kovalam will undergo room additions. An additional 30 rooms will be added up to the subsisting 182 rooms in its Goa hotel whereas in Kovalam that currently owns 192 rooms, there will be an addition of another 70 rooms.

The funding will be done through internal accruals. Last year, Hotel Leela had brought up USD 100 million through a FCCB issue.

The company is anticipating a profit of Rs 4,500 million in the current fiscal as compared to Rs 3,500 million last fiscal.

Yesterday, the company’s shares closed up at Rs 47.85, after making a profit 2.57%. The total volume of shares traded was 1,119,503 at the BSE.