About Citco
Hotels
Activities
Admin. Setup
Tenders
Notices
The Chandigarh Industrial and Tourism Development Corporation Limited (CITCO) was incorporated as a Company under the Companies Act 1956 on 28.03.1974. It was originally known as Chandigarh Small Industries Development Corporation (CSIDC) and started functioning as such from 20.09.1974. The Corporation was given additional functions of promotion of Tourism and other related activists in the year 1982. As a result of which, its name was changed to Chandigarh Industries and General Development Corporation Limited.(CIGDC). In 1982, the Management of Hotel Mountview, Sector 10, Chandigarh and Hotel Parkview(then Chandigarh Yatri Niwas) was transferred to the Corporation . In addition the Corporation was given the responsibility for managing the Community Centres and Clubs,(this activity was later transferred to Municipal Corporation, Chandigarh). In 1988, the incomplete building of Hotel Shivalikview,(the then Janta Hotel) was transferred to CITCO for construction and management. This hotel was put in commercial use on 01.01.1990. In 1992, the Corporation was allotted land in Sector 9, Chandigarh for setting up a Petrol Pump. CITCO tied up with BPCL & the Petrol Pump is running as one of the most preferred outlet in the City. In 1993, CITCO was appointed as C&F Agent for IPCL (taken over by Reliance Industries Limited). In 2000, CITCO was allotted space at Kalagram on Chandigarh Shimla Highway to set up a Restaurant. The unit is designed as an ethnic Punjabi outlet. In 2002, CITCO was allotted space for running fast food outlet in the hub of the Sub City Centre, Sector 34, Chandigarh. The outlet 'Drop-In created there at is very popular with office goers.
FINANCIAL RESULTS
The following is the statement of Sales, Expense and Profit for the last 04 years:-
(Figures in Rupees - Lacs)
Particulars
2004-05
2005-2006
2006-2007
2007-2008
Share Capital
1503.46
1503.46
1503.46
1503.46
Turnover
43613.88
27345.95
29026.58
31876.05
Cost of Goods sold
39725.51
23225.71
24126.84
26499.06
Gross Profit
3888.43
4120.24
4899.74
5376.99
Employee Remuneration and other benefits
1699.52
1881.12
2153.66
2495.78
Administrative, Selling & Misc. Expenses
762.28
903.65
1058.22
1129.17
Profit before Dep. Interest & Taxes
1426.63
1335.47
1687.86
1752.04
Interest
13.61
4.14
27.63
9.32
Profit before Dep. & Taxes
1413.02
1331.33
1660.22
1742.72
Depreciation
224.06
228.57
246.58
248.10
Profit before adjustments and taxes
1188.96
1102.76
1413.62
1494.62
Prior Period Adjustments
+14.16
(+)61.68
9.15
+30.07
Profit before Taxes
1203.12
1164.44
1422.8
1524.69
Income Tax
425.00
412.33
523.27
553.38
Net Profit
778.12
752.11
899.53
971.31
The unit wise trunover of the Corporation is given as under
