"Spectrum Foods Confident Luxury Resort Project in Pushkar Will Meet Projected Completion Timeline"

Spectrum Foods Ltd witnessed a 1.20% increase in its shares after the company issued a progress report on the ongoing construction of its luxury resort project in Pushkar. The construction is currently in full swing, employing approximately 150 workers on-site to ensure the project stays on track for its scheduled completion.

The luxury resort project, slated to conclude by the end of 2024, is anticipated to have a favorable impact on Spectrum Foods' financials, with anticipated increases in revenues and net profits shortly thereafter.

In an effort to strengthen the project's financial backing, Spectrum Foods is currently engaged in discussions with a multinational hospitality group for a potential collaboration. The multinational group is considering extending interest-free project finance to support the construction of the resort, adding an extra layer of financial stability to the ambitious undertaking.

HBL