Speaking to CNBC-TV18, MD and CEO of Indian Hotels Puneet Chhatwal talks about the company's expansion plans.

Chhatwal said: "We will continue to add management contracts, we will continue to focus on high margin business, so that we can continue to grow our margins as well as our portfolio and create the best value proposition for all the stakeholders."

On GIC partnership, he further said: "The partnership or the platform that we have created with GIC it positions us in a very strategic fashion to take benefit of any distressed assets that will come on the market to acquire that through that platform. Our first meeting of the platform is going to happen in the next 10 days where we will review the first few possibilities that we have shortlisted."

Speaking about properties under NCLT, he said: "As and when any opportunities come up, they do catch our attention and we do try to evaluate them."