After the Radisson Group's recent decision of setting up a five-star hotel here, it may well be time for Saha Sprague to follow suit.

Saha Sprague is a Mumbai-based company working primarily in the power and energy sector. But of late, it has shown interest in the hospitality sector by taking franchise units of brands, including Pizza Hut, in different parts of the country.

"We intend to come up with a 150-200 room four-star hotel in Ranchi. However, we would not like to disclose any location details just yet. We will be ready to announce that in about eight to 10 weeks," reads an e-mail from Kuna Saha, one of the directors of the company, in response to The Telegraph's query.

Sources in the company, however, divulged that the company is purchasing land in and around Siram Toli locality, which is close to Ranchi railway station. The Birsa Munda airport is within a 4km radius while Albert Ekka Chowk would be 2km away.

A prominent hotelier also confirmed that Saha Sprague has been in constant touch with the management of Lemon Tree group of hotels, spurring speculation that the company is still deciding whether to opt for a franchisee or not.