Jungle Camps India Limited conducted a Q1 FY27 earnings conference call on August 18, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance Q1 FY27 vs Q1 FY26

  • Revenue from Operations: ₹5.97 crore (up from ₹5.35 crore in Q1 FY26), a 12% year-on-year increase.
  • Other Income: ₹0.28 crore (down from ₹0.35 crore in Q1 FY26).
  • Total Income: ₹6.25 crore (up from ₹5.70 crore in Q1 FY26).
  • Total Operating Expenses: ₹4.56 crore (up from ₹3.89 crore in Q1 FY26).
  • EBITDA: ₹1.69 crore (down from ₹1.81 crore in Q1 FY26).
  • EBITDA Margin: 27% (down from 32% in Q1 FY26).
  • Profit Before Tax (PBT): ₹0.62 crore (down from ₹1.43 crore in Q1 FY26).
  • Profit After Tax (PAT): ₹0.47 crore (down from ₹1.13 crore in Q1 FY26).
  • PAT Margin: 8% (down from 20% in Q1 FY26).
  • Basic Earnings Per Share (EPS): ₹0.27 (down from ₹0.66 in Q1 FY26).
  • Exceptional Item: An expense of ₹0.52 crore was recorded related to right-of-project expenditure for the Parsili project, which was cancelled due to regulatory constraints. This is stated to be non-recurring.

Operational Metrics

  • Total Rooms: 95 (as of Q1 FY27).
  • Average Daily Rate (ADR): ₹10,539 (up 5% from ₹10,072 in Q1 FY26).
  • Room Nights Occupied: 3,907 (up 5% from 3,736 in Q1 FY26).
  • Occupancy Rate: 45% (up from 43% in Q1 FY26).
  • Revenue Per Available Room (RevPAR): ₹4,763 (up 9% from ₹4,353 in Q1 FY26).

Revenue Mix by Property (Q1 FY27)

  • Pench Jungle Camp: 39%
  • Kanha Jungle Camp: 17%
  • Tadoba Jungle Camp: 38%
  • Rukhad Jungle Camp: 4%
  • Bison Highway Retreat: 2%

Full Year FY26 Financial Highlights

  • Total Income: ₹23.28 crore
  • EBITDA: ₹7.48 crore
  • EBITDA Margin: 30%
  • PAT: ₹4.22 crore
  • Occupancy: 40%
  • ADR: ₹10,418
  • RevPAR: ₹4,210

Business Highlights and Expansion Update

  • Mathura Hotel Project: Capacity expanded from 60 to 105 rooms. Partnership with IHG under the Holiday Express brand. Targeted opening in FY28. Total project cost is ₹49 crore, funded by ₹17 crore internally (including ₹11.5 crore from IPO proceeds) and ₹32 crore debt from HDFC Bank at 8.14% interest.
  • Sheopur Fort Project: A 90-year heritage asset being transformed into a 60-key luxury boutique hotel. Planned to develop 35-40 rooms initially. Total project budget is ₹25 crore, funded by ₹10.5 crore internally and ₹17.5 crore debt from HDFC Bank. Targeted opening in FY28.
  • New Properties Added:
  • Palash Kothi, Bandhavgarh: 20-room property added under a 5-year management agreement. Operations commenced in 2026 with a soft opening. Revenue share model: 13% of revenue to the company.
  • Devprayag Tourist Rest House: 22-room property secured in Uttarakhand. Expected ADR between ₹5,000-6,000. Investment of ~₹1 crore to make operational. Operations expected to commence shortly.
  • Parsili Project: Discontinued due to regulatory constraints. ₹1.22 crore upfront premium is refundable, and a ₹0.50 crore performance security bank guarantee is to be returned. ₹1.35 crore has been received so far; a suit is filed for the balance.
  • Kukru Jungle Camp: New project at Melghat Tiger Reserve. Plan for 15-20 luxury tents. Estimated cost: ₹7-7.5 crore. Expected to be operational by end of FY28.
  • Other Pipeline Projects: Advanced discussions for properties in Panna, Satpura, Sariska, and Jawai.

IPO Proceeds Utilization

Initial IPO size was ₹29.42 crore. Objects and utilization status:

  • ₹7.00 crore allocated for Sanjay Dubri National Park project: Redeployed to other projects following cancellation.
  • ₹11.50 crore allocated for Mathura hotel: ₹8.79 crore already invested.
  • ₹3.50 crore allocated for Pench Jungle Camp Resort: Fully applied.
  • ₹7.42 crore for general corporate purposes: ₹5.92 crore already applied.

Debt and Financial Structure

  • Current debt position not explicitly stated for FY27.
  • By FY28, total debt is expected to be ~₹50 crore primarily for Mathura and Sheopur projects.
  • Loans have a 2-year moratorium followed by a 7-year repayment period.
  • Post-moratorium, combined monthly EMI will be ~₹53 lakh (~₹6.5 crore annually).
  • Management expressed confidence in servicing debt from project cash flows.

Management Commentary and Guidance

  • Seasonality: H2 (October-March) is typically stronger than H1 due to wildlife safari season.
  • Expect better ADR and revenue in H2 FY27.
  • Target EBITDA margin is ~30%, though new properties may pressure margins initially before stabilizing.
  • For Mathura, annual revenue is projected at ₹18-20 crore; comfortable even at ₹12 crore.
  • For Sheopur (35 rooms), annual revenue is projected at ~₹12 crore.

Other Details

  • The company operates 8 properties with 137 rooms (3 owned, 5 leased/managed).
  • Four additional properties are in the pipeline.
  • The company has ~250 team members.
  • Strengthened due diligence process for land transactions following past issues.
  • Lease rentals: Mathura (5% of gross revenue or ₹54 lakh, whichever is higher), Sheopur (~₹3-5 lakh), Devprayag (₹28,000/year), Kukru (₹61,000/year).

#Tags: #JungleCampsIndia #Q1FY27Results #SEBIRegulation30 #HospitalityExpansion #Neutral