Mumbai: A consortium of Zoom Developers and the Toshali Sands Group has won the bids for setting up rail budget hotels in Mangalore, Puducherry, Chennai (Egmore) and Coimbatore - the four locations offered by the Indian Railway Catering and Tourism Corporation (IRCTC).

Mumbai-based Zoom Developers said the four budget hotels, involving investment of Rs100 crore, form part of the Rail Ratna Project.

''We have won the bid for all four locations to develop budget hotels with a proposed investment of around Rs100 crore,'' Zoom CEO Rumneek Bawa said.

Earlier, IRCTC had awarded bids for 24 hotels across the country.

Zoom Developers had won bids for budget hotels for Raipur, Bilaspur and Guwahati.

The company hopes to complete construction work at the new sites within 18-20 months of getting the possession of land.

IRCTC, however, has not issued land possession or concession details of projects to the developers. 

While consortia led by Zoom Developers bagged 19 of the 28 bids awarded so far, the rest went to Essel and Signet Groups.

Earlier, IRCTC announced plans to set up 100 budget rail hotels across the country. The entire project was estimated to cost over Rs20,000 crore.