Quarterly Financial Performance (Q2 FY27)

Revenue Metrics:

  • Consolidated total revenue: ₹142 Crores (10% growth YoY from Q2 FY26)
  • Consolidated revenue from operations: ₹138 Crores (compared to ₹126 Crores in Q2 FY26)
  • Food & Beverage (F&B) revenue: ₹46 Crores (10% growth YoY from ₹42 Crores)

Profitability Metrics:

  • Profit After Tax (PAT): ₹22 Crores (105% growth YoY from ₹11 Crores)
  • EBITDA: ₹52 Crores (26% growth YoY)

Operational Metrics:

  • Average Room Revenue (ARR): ₹7,876 (11% growth YoY from ₹7,106)
  • Revenue Per Available Room (RevPAR): ₹5,922 (10% growth YoY from ₹5,374)
  • Occupancy Rate: 75.2%

Market-Specific Performance (Bengaluru):

  • ARR: ₹9,422 (8% growth YoY from ₹8,738)
  • RevPAR: ₹7,611 (12% growth YoY from ₹6,807)

Half-Year Financial Performance (H1 FY27)

Revenue Metrics:

  • Consolidated total revenue: ₹273 Crores (7% growth YoY from H1 FY26)
  • Consolidated revenue from operations: ₹265 Crores (compared to ₹250 Crores in H1 FY26)
  • Food & Beverage (F&B) revenue: ₹88 Crores (compared to ₹89 Crores in H1 FY26)

Profitability Metrics:

  • Profit After Tax (PAT): ₹39 Crores (122% growth YoY from ₹18 Crores)
  • EBITDA: ₹98 Crores (18% growth YoY)

Operational Metrics (H1 FY27):

  • Average Room Revenue (ARR): ₹7,559 (9% growth YoY)
  • Occupancy Rate: 75.4%
  • Revenue Per Available Room (RevPAR): ₹5,702 (up from ₹5,209 in H1 FY26)

Management Commentary

Nirupa Shankar, Managing Director, commented on the performance:

  • Q2 FY27 performance was strong despite West Asia crisis uncertainties
  • MICE activity picked up meaningfully after a muted Q1, with a large electronics conference in Bengaluru boosting both rooms and F&B
  • October trends and enquiries indicate strong Q3 supported by festive, wedding, and MICE demand
  • The company is on track to launch Courtyard by Marriott Chennai World Trade Centre
  • Actively evaluating acquisition opportunities
  • Strong development pipeline with growing share of luxury and upper-upscale hotels
  • Target to double portfolio by FY30 with meaningful ARR uplift

Company Background

Brigade Hotel Ventures Limited (BHVL) is:

  • An owner and developer of hotels in key cities in India, primarily across South India
  • The second largest owner of chain-affiliated hotels and rooms in South India among major private hotel asset owners
  • A subsidiary of Brigade Enterprises Limited (BEL)
  • Portfolio includes nine operating hotels across Bengaluru (Karnataka), Chennai (Tamil Nadu), Kochi (Kerala), Mysuru (Karnataka) and GIFT City (Gujarat)
  • Total inventory: 1,602 keys
  • Hotel operators: Marriott, Accor, and InterContinental Hotels Group
  • Segment coverage: upper upscale, upscale, upper-midscale, and midscale segments

Performance Drivers

  • Quality of assets
  • Strong brand positioning
  • Consistent execution across markets
  • Improved MICE activity
  • Large electronics conference in Bengaluru