Key Financial Figures - Q1 FY27 Consolidated

  • Revenue from Operations: ₹5,428Mn (up 7% YoY from ₹5,075Mn in Q1 FY26)
  • Other Income: ₹116Mn (down 6% YoY from ₹124Mn)
  • Total Income: ₹5,544Mn (up 7% YoY from ₹5,199Mn)
  • Total Expenditure: ₹3,498Mn (up 17% YoY from ₹2,997Mn)
  • EBITDA: ₹2,046Mn (down 7% YoY from ₹2,202Mn)
  • EBITDA Margin: 37% (down 5 percentage points from 42%)
  • Adjusted EBITDA: ₹2,301Mn (up 5% YoY after adjusting for diesel price hike and one-time costs)
  • Adjusted EBITDA Margin: 41% (down 1 percentage point)
  • Depreciation & Amortization: ₹897Mn (up 12% YoY from ₹798Mn)
  • EBIT: ₹1,149Mn (down 18% YoY from ₹1,404Mn)
  • EBIT Margin: 21% (down 6 percentage points from 27%)
  • Financing Cost: ₹522Mn (down 13% YoY from ₹601Mn)
  • Exceptional Item & JV Share: -₹14Mn
  • Tax Expense: -₹629Mn (compared to ₹424Mn in Q1 FY26)
  • Profit After Tax: ₹1,242Mn (up 2.3x YoY from ₹379Mn)

Segment Performance - Q1 FY27 (YoY Growth Rates)

India Hospitality

  • Revenue: ₹2,025Mn (+13%)
  • EBITDA: ₹737Mn (+16%)
  • EBITDA Margin: 36% (+1 percentage point)
  • EBITDA/Key: ₹2.3Mn
  • ADR: ₹12,183 (+8%)
  • Occupancy: 67% (+7 percentage points)
  • RevPAR: ₹8,201 (+20%)
  • TRevPAR: ₹15,233 (+18%)

International Hospitality

  • Revenue: ₹2,175Mn (+5%)
  • EBITDA: ₹324Mn (-32%)
  • EBITDA Margin: 15% (-8 percentage points)
  • EBITDA/Key: ₹7.4Mn
  • Occupancy: 52% (-2 percentage points)
  • TRevPAR: $490 / ₹46,410 (+5%)

Consolidated Hospitality

  • Revenue: ₹4,200Mn (+9%)
  • EBITDA: ₹1,061Mn (-4%)
  • EBITDA Margin: 25% (-3 percentage points)
  • EBITDA/Key: ₹3.6Mn
  • ADR: ₹20,200 (+4%)
  • Occupancy: 63% (+4 percentage points)
  • RevPAR: ₹13,154 (+14%)
  • TRevPAR: ₹23,382 (+12%)

Annuity Business

  • Revenue: ₹1,281Mn (+3%)
  • EBITDA: ₹1,112Mn (flat)
  • EBITDA Margin: 87% (-3 percentage points)
  • Rent psf/m: ₹123 (+5%)
  • Occupancy: 98% (+1 percentage point)

Portfolio Metrics

  • 3 Countries
  • 14 Hotels
  • 2,199 Keys
  • 3.4 Million square feet annuity area
  • 98% committed occupancy in annuity business
  • CRISIL AA rating (Stable) for company
  • PCPPL (material subsidiary) and Novo Themes received AA+ rating (Stable)

Strategic Acquisition Completed

  • Ritz-Carlton Reserve, Sahyadri Hills acquisition completed in July 2026
  • Post-transaction ownership: 100% Ventive
  • Equity consideration: ~₹2,810Mn
  • Enterprise Value: ~₹4,660Mn
  • Target Yield on Cost: >12%
  • Funding: Internal accruals + Debt
  • Asset: ~80+ key wellness resort plus villas for sale on 420+ acres
  • Location: 2-3 hours from Mumbai and Pune, 45 minutes from Alibaug
  • Status: OC received; interiors & fitout pending
  • Expected timeline: FY29

Development Pipeline - 1,700+ Keys

Owned Projects

  • AC by Marriott, Whitefield: 166 + 33 new keys, Bengaluru, timeline Q1 FY28
  • Ritz-Carlton Reserve, Pottuvil: 73 keys, Sri Lanka, timeline FY30-31
  • Hilton Goa Resort, Candolim: ~80 keys +50 new keys, Goa, planning stage
  • Varanasi Marriott: 161 keys, timeline Q3 FY28
  • Soho House Delhi: 24 keys, timeline FY30

ROFO (Right of First Offer) Projects

  • JW Marriott, Navi Mumbai: 450 keys, timeline FY31
  • Moxy, Pune Wakad: 264 keys, timeline FY31
  • Moxy, Navi Mumbai: 200 keys, timeline FY31
  • Moxy, Pune Kharadi: 200 keys, timeline FY31

Industry Outlook Highlights

  • Pune: India's fastest-growing GCC hub with 500+ GCCs (14% of India's total)
  • Expected 290-300K GCC workers by 2030 with ~9% CAGR FY19-25
  • Ventive has 1,164 keys across Pune with 464 pipeline keys in strategic locations
  • New Pune Airport expected to reduce travel time between Pune and Mumbai to 30 minutes
  • Maldives portfolio shows highest TTM EBITDA per key at ₹7.4Mn
  • $ revenue provides natural currency hedge against rupee depreciation

ESG Initiatives

  • 48.96% green power usage in FY25-26 (up ~2 percentage points YoY)
  • 4 properties at >70% Green Power
  • ISO certifications: 14001:2015 (10 properties), 45001 (6 properties), 9001 (6 properties)
  • LEED certifications: Platinum for Ritz-Carlton Pune and Business Bay
  • GHG intensity baseline: 0.1203 tCO₂e per Occupied Room Night established for FY25-26
  • Maldives resorts: Green Fins members, plastic-free initiatives, coral reef restoration
  • Employee coverage: 100% permanent employees under health and accident insurance

Management Team

  • Ranjit Batra: Chief Executive Officer (19 years with Panchshil group)
  • Paresh Bafna: Chief Financial Officer (24 years with Panchshil group)
  • Pradip Bhatambrekar: Compliance Officer & Company Secretary (16 years with Panchshil group)
  • Amit Sachdeva: Head of Operations (25+ years hospitality experience)
  • Santosh Kolekar: Head of Construction (30 years experience)
  • Zarina Chinoy: General Counsel (23 years legal experience)

Board of Directors

  • Atul I. Chordia: Chairman & Executive Director (Founder of Panchshil Realty)
  • Asheesh Mohta: Non-Executive Director (Blackstone Real Estate Head)
  • Nipun Sahni: Non-Executive Director (Apollo Global Management Advisor)
  • Bharat Khanna: Independent Director (BGO Managing Director)
  • Punita Kumar-Sinha: Independent Director
  • Thilan Manjith Wijesinghe: Independent Director

Investor Call Details

  • Date: Wednesday, August 5, 2026
  • Time: 4:00 PM IST
  • Management Participants: CEO Ranjit Batra, CFO Paresh Bafna
  • Dial-in numbers provided for India and international access

Currency Conversion

  • USD to ₹ average rate: Q1 FY27 - 94.7, Q1 FY26 - 85.6