Also, the company would invest Rs 4,000 crores on developing seven IT parks, he added.

The Delhi-based company today reported a more than eight- fold increase in its net profit at Rs 74 crores for the quarter ended June 30 as against Rs 8.24 crores in the year-ago period.

Its total income during the period under review rose by 114 per cent to Rs 306.21 crores compared to Rs 141.76 crores in the corresponding period last year.

"The entry into the new markets has led to the better financial results," Chandra said, commenting on the results.

Elaborating on hotel plans, he said the new hotels of 250 rooms each would be part of the company's large real estate projects and added that the funding would be done through internal accruals and debts.

The company, which has recently forayed into hospitality sector, is already constructing a hotel and a service apartment in Gurgaon and two hotels in Noida and Kolkata and has entered into an agreement with the Marriott Group for the management of hotels.

He said Unitech was in talks with other brands as well for managing its hotels.

Besides, the company has in-principle approval for developing seven IT SEZ parks, the project cost of which is about Rs 4,000 crores, he said. The IT parks would be constructed in cities like Gurgaon, Kolkata, Noida/Greater Noida, Kochi and Chennai.