ITC has significant equity investments in EIH & Leela hotel companies, and the company may invest in a similar way in other competing companies also, ITC chairman Yogesh Chander Deveshwar indicated on Friday.

ITC’s investments in EIH have reaped significant financial gains as it could foresee the prospect in a company present in same industry, a strategy, that Deveshwar said could be used for other rivals too.

“We invested in EIH at a price of Rs35 while others invested at a much higher price. This is the reason our investments are confined to industries, by and large, where we operate. We think we know these industries better than those who are not into them, and this makes us feel safer. So, therefore, it’s not only that we would invest in these two companies, we could also invest in other hotel companies, we could also invest in other fast moving consumer goods companies. We could also invest also in agri-products businesses, even information technology companies,” Deveshwar told reporters during a press conference after the 100th annual general meeting of the company.