Financial Performance Overview
KRISHNA GVK Luxury Hotels Limited reported its financial results for the second quarter and half year ending September 30, 2026. The company reported a PAT of Rs. 57.20 Crore for Q2 2026/27.
Management Commentary
Mr. Krishna R Bhupal, Joint Managing Director, stated that Q2 2026/27 revenue was not comparable to the corresponding period of the previous year due to dividend received from subsidiary company, Green Woods Palaces and Resorts Pvt Ltd. Operationally, despite the Geo-Political environment in West Asia, the company grew by 3.83% in topline in H1 2026/27. PAT was lower due to cost pressures from higher fuel prices and increase in property tax and liquor licence fees at Taj Chandigarh and Taj Club House, Chennai.
Operational Updates
The company completed renovation/refurbishment of the balance 24 rooms at Taj Deccan, Hyderabad during the quarter as part of its policy to provide best-in-class customer satisfaction.
Subsidiary Performance
Greenwoods Palaces and Resorts Private Limited (operates Taj Santacruz, Mumbai) reported:
Q2 2026/27 Performance:
- Revenue: INR 54.20 Crores (vs INR 50.69 Crore previous year)
- EBITDA: INR 18.10 Crore (vs INR 17.64 Crore)
- PAT: INR 10.99 Crore (vs INR 8.29 Crore)
H1 2026/27 Performance:
- Revenue: INR 110.89 Crores (vs INR 105.14 Crore)
- EBITDA: INR 38.97 Crore (vs INR 38.27 Crore)
- PAT: INR 23.97 Crore (vs INR 18.22 Crore)
Consolidation Methodology Change
The consolidated financial results for the quarter ending September 30, 2026, are not comparable with previous period figures due to a change in consolidation method. The company acquired an additional 2.01% stake in Green Woods on February 10, 2026, and now consolidates numbers line by line as per extant INDAS, whereas previous periods were disclosed under Equity method of consolidation.
Expansion Projects
The company announced the opening of Taj Yelahanka, Bengaluru on November 20, 2026, marking KRISHNA GVK's entry into the Bengaluru market. This represents a significant addition to the company's luxury hotel portfolio and room inventory, aligning with the long-term growth strategy.
Strategic Focus
Management emphasized focus on driving long-term growth through:
- Organic developments
- Asset enhancements
- Strategic acquisitions
- Exploring inorganic growth opportunities for faster market access
- Expanding in demand-rich markets while maintaining financial discipline, operational efficiencies, and return thresholds
Company Portfolio
KRISHNA GVK operates five hotels: Taj Krishna Hyderabad, Taj Deccan Hyderabad, Taj Club House Chennai, Taj Chandigarh, and Vivanta Hyderabad Begumpet. Through subsidiary Green Woods Palaces and Resorts Private Limited, the company operates Taj Santacruz, Mumbai.