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Earnings Call Transcript

Brigade Hotel Ventures Earnings Call Transcript: Key Takeaways

Brigade Hotel Ventures delivered strong Q2 growth driven by rate-led performance in Bangalore and Gifts City. EBITDA margins expanded to 37% despite GST headwinds.

Guidance and delivery
Management target Revenue 15.0% FY27
Highlights
Revenue growth10% YoY growth driven primarily by 11% ADR increase.
MarginsMargins expanded to 37% due to tight cost controls.
Demand visibilityStrong Q3 visibility backed by MICE, weddings, and corporate travel.
Management confidenceHighly optimistic, emphasizing rate-led growth and aggressive luxury portfolio expansion.

Growth

Revenue grew 10% YoY; ADR rose 11% to ₹7,900. EBITDA increased 26% showing strong operational control.

Outlook

Targeting 3,300 keys by FY31 with ₹3,600 Cr total planned capex for expansion.

Risks

One-time GST 2.0 impact on margins; temporary occupancy dips in Kochi during rebranding transition.

Last quarter's promises, checked

Delivered

  • ADR >₹7,500 (GST offset) → ₹7,900 (= BEAT)
  • Post-IPO debt paydown → ₹468.1 Cr repaid, net cash ₹108 Cr (= BEAT)

Partly delivered

  • Mid-teens FY27 growth → Q1 +5%, Q2 +10% YoY (= PARTIAL)
  • 45-key Chennai WTC launch Oct/Q3 FY27 → listed, timing unconfirmed (= PARTIAL)

Missed

  • 3,300 keys by FY30 (CFO) → now FY31 (= MISS)
  • Kochi occ. high-60s in Q2, 70s next qtr → dips cited, no figure (= MISS)
Source

Earnings Call Transcript filed with NSE, NSE: BRIGHOTEL. Summary written with AI assistance from the document.

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Brigade Hotel Ventures Ltd: key numbers

Share price
₹52.00
Market cap
₹1,975 Cr
Revenue (annual)
₹525.0 Cr
Net profit (annual)
₹58.46 Cr
P/E (TTM)
25.0×Sector 43.4×
Promoter holding
74.09%+0.00% QoQ
FII holding
0.78%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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