The Hyderabad Race Club (HRC) will be leasing out a portion of its land to a sporting company, with an innovative equestrian sport format “Go Head-to-Head.” In a letter addressed to its members, Mr. R. Surrender Reddy, chairperson of HRC, announced the club’s approval to this proposed plan.
The decision to embark on this new endeavour stems from the challenges faced by the HRC in recent years after the implementation of GST and newly amended rule on TDS. To counter these setbacks, the Stewards of HRC have been actively exploring alternative avenues for revenue generation.
The HRC expects that the revenue generated from monthly rent and advertising by the associating company will partially compensate for the losses incurred on Totalizator turnover.
