Brigade Hotel Ventures Limited – Investor Presentation Summary

Key Operational Highlights

  • Q2 FY27 RevPAR grew 10% YoY to ₹5,922, driven by 11% ARR growth to ₹7,876 with occupancy at 75%
  • Bengaluru market showed strong performance with 81% occupancy and 12% RevPAR growth to ₹7,611
  • MICE activity picked up meaningfully in Q2 after muted Q1, with a large electronics conference in Bengaluru driving both room and F&B revenues
  • F&B revenue grew 10% YoY in Q2 FY27
  • Heavy rains in August impacted travel, but September saw strong recovery

Segment-wise Performance

  • Bengaluru Portfolio: ARR ₹9,422 (8% YoY growth), Occupancy 81% (4% YoY improvement), RevPAR ₹7,611 (12% YoY growth)
  • Other Geographies: ARR ₹6,282 (13% YoY growth), Occupancy 70% (-5% YoY), RevPAR ₹4,409 (8% YoY growth)

Financial Highlights

Revenue: Rs. 142.4 Cr (Q2 FY27), Rs. 273.2 Cr (H1 FY27)

EBITDA: Rs. 52.2 Cr (Q2 FY27), Rs. 97.8 Cr (H1 FY27)

PAT: Rs. 21.9 Cr (Q2 FY27), Rs. 39.3 Cr (H1 FY27)

EPS: Rs. 0.52 (Q2 FY27), Rs. 0.94 (H1 FY27)

Margins: EBITDA Margin 36.7% (Q2 FY27), PAT Margin 15.4% (Q2 FY27)

YoY comparison: Total Income up 10% YoY (Q2), PAT up 105% YoY (Q2), H1 PAT up 122% YoY

Drivers of financial performance: Rate-led growth with ARR rising 11%, lower finance costs following debt repayment post-IPO, improved operational performance

Key Risks: GST 2.0 resulted in 1.4% impact on EBITDA for Q2 FY27 and 1.6% for H1 FY27

Geographical Revenue Split

Not Specified

Balance Sheet Snapshot

Net Debt/Equity: Not Specified

Reserves: Other equity ₹613 Cr (Sep-26)

Current Assets/Liabilities: Current Assets ₹279 Cr, Current Liabilities ₹198 Cr (Sep-26)

Working Capital/Leverage Metrics: Not Specified

Financial Health Insights: Total Equity increased to ₹1,020 Cr (Sep-26 from ₹981 Cr Mar-26), Cash and cash equivalents ₹27 Cr (Sep-26)

Capex & Cash Flow Health

Capital Expenditure: Planned capex of ₹3,600 Crs. for 1,700 upcoming keys by FY30

Free Cash Flow: Not Specified

Operating Cash Flow: Net Cash from Operating Activities ₹78 Cr (Sep-26)

Net Debt Movement: Not Specified

Investment Rationale: Portfolio diversification through strategic expansion, shifting to luxury/leisure segment with expected ADRs of ₹30,000–40,000

Strategic & R&D Initiatives

Investments in Innovation: Development pipeline includes Courtyard by Marriott Chennai WTC (45 keys, FY27), Fairfield by Marriott Bengaluru Airport (224 keys, FY28), Fairfield by Marriott Bengaluru Brigade Valencia (151 keys, FY28), Grand Hyatt Chennai ECR (211 keys, FY29), InterContinental Hyderabad Brigade Gateway (300 keys, FY29), The Ritz-Carlton Vaikom Island Kerala (70 keys, FY29)

Expected impact on growth: Luxury portfolio to contribute ~22% of total keys by FY29, ARR expected to ~double due to change in portfolio mix

Strategic Rationale: Expanding into high-growth markets with strong business travel and GCC demand, leveraging growing air travel by developing hotels near airports

Industry Trends & Business Environment

Macro/Industry Trends: Growing air travel, supply-demand mismatch in BHVL's present cities, robust corporate demand

Impact on Company: Favourable demand-supply scenario with no major supply in micro-markets supporting ARR growth

Management Commentary & Growth Outlook

Strategic Outlook: "We enter H2 with confidence. October trends and enquiries point to a strong Q3, supported by festive, wedding and MICE demand. We are on track to launch Courtyard by Marriott Chennai World Trade Centre and are actively evaluating acquisition opportunities." - Nirupa Shankar, Managing Director

FY Guidance: On track to double portfolio by FY30 with meaningful uplift in ARR

Market Share Targets: Not Specified

Risks and Opportunities: Evaluating acquisition opportunities, actively pursuing expansion

ESG Updates

Not Specified

Digital Transformation

Not Specified

Awards and Achievements

  • Sheraton Grand Bangalore Hotel: Best Five Star Hotel – Karnataka Tourism Awards 2026; Best Rooftop Lounge (South) – Food Connoisseurs India Awards; Best Middle Eastern Cuisine – The Persian Terrace; Best Rooftop Restaurant in a Hotel – EazyDiner Foodie Awards
  • Holiday Inn Chennai OMR IT Expressway: General Manager won Midscale category at BW Hotelier Indian Hospitality Awards
  • Grand Mercure Mysore: La Uppu – Excellence in Family-Friendly Dining, RED FM Grub & Dine Awards 2026
  • ibis Styles Mysuru: KA 16 – Excellence in Rooftop Bar Experience, RED FM Grub & Dine Awards 2026
  • Grand Mercure Bangalore: By The Blue – Excellence in Poolside Dining Experience, RED FM Grub & Dine Awards 2026; Best Newcomer Hotel Restaurant, Food Connoisseurs India Awards 2026