Calcutta, June 27 :    Calcutta, June 27:  Bombay Dyeing chairman Nusli Wadia has joined the board of EIH Ltd-the company that manages the Oberoi chain of hotels. Rajan Raheja, chairman of Prism Cement, and Christopher Reeves, former chairman of Merill Lynch (UK), also joined the board of the country's second largest hotel company. P.R.S. Oberoi, who was hitherto the vice-chairman and managing director of EIH, was appointed the chairman following the demise of his father, Rai Bahadur M.S. Oberoi. The deputy managing director, S.S. Mukherji, has been re-designated in the same position. 'We wanted to strengthen our board by inducting leading industrialists. Who better than Nusli Wadia could we choose? He is a friend for the last 30 years,' Oberoi said. The industry, however, sees the induction of Wadia and others as a move to reinforce the company's defence against the ominous stake build-up by rival ITC Ltd. The tobacco major has amassed close to 14 per cent stake in EIH by buying shares from the market. Though ITC maintains that it has no intention to destabilise the existing EIH management, the Oberois are disturbed. 'The coming of Wadia and Raheja into the picture will change the complexion of the chequered game being played between Virginia House and the Oberois. To say the least, it reveals the support enjoyed by the Oberois among the leading industrialists of the country,' an analyst said. Besides expanding the board, EIH finalised its 2001-02 numbers today. It reported a 62.5 per cent drop in its net profit, and an 18 per cent fall in income. On a turnover of Rs 427.33 crore, the net profit stands at Rs 35.57 crore. Despite the disappointing performance, the company will pay a dividend of Rs 6 per share - well above earning per share (EPS) of Rs 4.87. Oberoi said: 'The year was bad for the entire industry, and I do not see our performance improving much unless the travel advisories issued by the western countries are withdrawn.'