After filing a whopping net profit for January to March quarter this year standing at Rs. 322.1 million, Mahindra Holidays and Resorts has recently shared that the company will be investing Rs. 3.5 to 4 billion in this fiscal.

Walking well on track with regards to adding 600-700 rooms and apartments in FY11, the company recently confirmed that it has already signed agreements for acquisitions of 3 properties in this fiscal.

Moreover, its Managing Director Ramesh Ramanathan added the fact that out of the 600-700, the acquisitions of three properties have empowered to take 350 already in the pipeline.

Regarding the funding of the target, Ramanathan said that the company has an idle cash of Rs. 1 billion that it got through the IPO it had launched last year, so the company will not be in any need for the additional capital and hence it will not put any burden on its capex.

It may be noted here than that the company garnered close to Rs. 2.75 billion with the 9.27 million-share issue it had launched in mid last year. Notably, the company hiked its membership by 5% in 2009, its first hike since August 2008.