ALFA Finder
The call ran from 12:31 PM to 1:15 PM IST (44 min).
Key takeaways
Viceroy reports strong operational recovery led by Courtyard's relaunch, despite Marriott renovation headwinds.
| Revenue growth | 48.8 Cr, up 53% YoY; Courtyard occupancy led organic growth. |
|---|---|
| Margins | EBITDA margin 26.7%; targets 30% near-term as banquet revenue returns. |
| Demand visibility | Strong; Hyderabad business market robust, driven by global capability centers. |
| Management confidence | High; management emphasizes operational efficiency and debt reduction via right issue. |
Growth
Revenue grew 53% YoY; Courtyard occupancy surged to 87% from 31.5%.
Outlook
Convention center reopens Dec 2026; targeting 30% EBITDA margin near-term, 40% long-term.
Risks
Marriott renovation impacts banquet revenue; high depreciation/interest costs strain PBT.
Last quarter's promises, checked
Delivered
- Courtyard occ. 80–85% → 87% (= BEAT)
- Beat prior-year qtrs → revenue +53% YoY (= BEAT)
Partly delivered
- ₹107 Cr rights issue for debt repayment → ₹80.25 Cr repaid; issue status unconfirmed (= PARTIAL)
- Courtyard revenue >₹50 Cr (+60%) → RevPAR 2.5x; revenue undisclosed (= PARTIAL)
Missed
- EBITDA margin >30% near-term → 26.7% (= MISS)
- Courtyard ADR 6,800→8,500 → volume-led, no uplift shown; Marriott ADR +1.8% (= MISS)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Viceroy Hotels Q2 FY27 Results: Net Profit ₹2.2 Cr, Down 50.0% YoY
Viceroy Hotels Ltd reported revenue from operations of ₹48.2 Cr (+56.5% YoY) and net profit of ₹2.2 Cr (-50.0% YoY) for Q2 FY27.
- Key figure
- Net profit ₹2.2 Cr · -50.0% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Management targeting 30% EBITDA margins near-term and 40% long-term, with Courtyard Madhapur operational by FY29-30.
Growth they described
Strong revenue growth to 44.9 Cr; EBITDA margins expanded 725 bps to 26.3% via operational efficiency and Courtyard stabilization.
Call details
| Company | Viceroy Hotels Ltd |
|---|---|
| NSE symbol | VHLTD |
| ISIN | INE048C01025 |
| Call | Q2 FY27 earnings call |
| Date | Friday, 13 November 2026 |
| Time | 12:30 PM IST |
| Length | 44 min |
| Audio | Our stream on YouTube ↗ |
Viceroy Hotels Ltd: key numbers
- Share price
- ₹148.71
- Market cap
- ₹1,142 Cr
- Revenue (annual)
- ₹143.2 Cr
- Net profit (annual)
- ₹18.32 Cr
- P/E (TTM)
- 55.3×Sector 47.8×
- Promoter holding
- 74.03%-10.08% QoQ
- FII holding
- 0.00%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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