Dear Sir, With reference to the captioned subject, we would like to inform that the Company has signed a License Agreement for a 44 room Hotel located at Baga, Goa under the Company's brand 'Lemon Tree Hotel' and this will be our fifth Hotel in Goa. The Hotel is located at Baga, one of the most popular destinations of North Goa and will feature 44 well-appointed rooms and suites, complemented by a multi-cuisine restaurant - Citrus Cafe, a bar, meeting and conference spaces, a swimming pool, a well-equipped fitness center, a rejuvenating spa and more. The hotel, owned by Aqua Resorts And Spa Pvt. Ltd, is expected to be flagged and re-launched in April 2020. Carnation Hotel Private Limited, a subsidiary and the hotel management arm of the Company will be operating and marketing this Hotel. Please take the above intimation on record.