Date: 03 August 2026

Financial Performance Highlights

Revenue and Operational Metrics:

  • RevPAR (Revenue per Available Room) at ₹5,219, up 9.6% YoY (comparable basis)
  • Occupancy stood at ~79.3% (increased from ~74.2% in Q1 FY26)
  • Total Income for the quarter was ₹3,083 million, up 10.8% YoY on comparable basis and +7.3% YoY reported

Profitability Metrics:

  • Consolidated EBITDA for the quarter was ₹1,013 million, up 12.1% YoY on comparable basis but down 4.1% YoY reported
  • PAT (Profit After Tax) stood at ₹249 million, up by 29.6% YoY
  • Operating EBITDA margin improved to 36.0% (excluding GST impact)

Debt Profile and Capital Structure:

  • Net Debt: ₹14,928 million (Jun 30, 2026) compared to ₹14,507 million (Mar 31, 2026) and ₹19,669 million (Mar 31, 2025)
  • TTM EBITDA: ₹4,664 million (excluding ESOP & one-time expenses)
  • Net Debt to EBITDA: 3.2x (3.1x as of Mar 31, 2026)
  • Net Debt to EBITDA (Adjusted for Growth Capital): 2.4x
  • Effective Interest Rate: 7.8% (~300bps lower since IPO)
  • Net Annualised Interest Run Rate: ~₹1,240 million (does not include non-cash finance cost items)

Comparability Adjustments:

  • Comparable basis excludes one-time GIC-transaction related items in Q1FY26 and GST input tax credit (ITC) impact in Q1FY27
  • Includes impact of ~₹91 million one-time other income in Q1FY26 from subsidiary capital restructuring related to GIC transaction
  • Includes impact of ~₹21 million one-time GIC transaction expenses in Q1FY26 and ~₹92 million GST input tax credit impact in Q1FY27
  • Excludes Trinity (acquired Oct'24), HIEX Greater Noida (reopened Dec'24), HIEX Kolkata (opened May'25), and Caspia Delhi (discontinued operation)

Management Commentary

Mr. Ashish Jakhanwala, MD & CEO, commented on the resilient performance despite temporary geopolitical headwinds from the Middle East conflict. The resilience was supported by sustained domestic demand, corporate travel, and MICE activity.

Growth Pipeline and Strategy:

  • Ongoing hotel additions, rebranding and renovation initiatives expected to increase upscale inventory share from ~41% to ~60% by FY2030
  • Strategic partnership with RARE India extends capabilities into experience-led leisure segment
  • Proposed Marriott distribution partnership positions company to benefit from structural growth in premium leisure travel
  • Intention to provide succession capital to select RARE hotels through small, tactical investments in high-quality leisure assets
  • Expects operating EBITDA margins of approximately 40% supported by increasing upscale inventory share

Balance Sheet and Outlook:

  • Net Debt to EBITDA at comfortable ~3.0x (management commentary)
  • Interest outflows expected to remain stable
  • Well positioned to strengthen free cash flow generation for long-term growth initiatives

Company Overview

SAMHI Hotels Limited is a prominent branded hotel ownership and asset management platform in India with institutional ownership model. The company has:

  • 31 operating hotels comprising 4,899 keys
  • Diverse geographic presence across 13 cities in India including NCR, Bengaluru, Hyderabad, Chennai, and Pune
  • Long-term management arrangements with Marriott, IHG, and Hyatt
  • Experienced leadership and professional management team

Forward-Looking Statements

The document contains forward-looking statements based on estimates and anticipated effects of future events, subject to numerous risks and uncertainties that may cause actual results to differ materially from anticipated results.