Ventive Hospitality Limited – Investor Presentation Summary

Key Operational Highlights

  • Q2 FY27 India Hospitality TRevPAR: ₹15,577 (▲14% YoY)
  • Q2 FY27 International Hospitality TRevPAR: ₹45,040 (▲20% YoY)
  • Total portfolio: 14 hotels across 3 countries with 2,199 keys
  • Annuity area: 3.40 Msf with 98% committed occupancy
  • India Hospitality occupancy: 68% (▲2 pp YoY)
  • International Hospitality occupancy: 57% (▲3 pp YoY)
  • Maldives portfolio TTM EBITDA per key: ₹7.5 Mn

Key drivers of operational performance: Strong demand in Pune GCC hub, all-inclusive concept in Maldives properties, and premium positioning in luxury segment.

Segment-wise Performance

Q2 FY27 Performance (YoY):

  • India Hospitality: Revenue ₹2,091 Mn (▲10%), EBITDA ₹827 Mn (▲5%), Margin 40% (▼1 pp)
  • International Hospitality: Revenue ₹2,134 Mn (▲20%), EBITDA ₹302 Mn (▲22%), Margin 14% (Flat)
  • Total Hospitality: Revenue ₹4,225 Mn (▲14%), EBITDA ₹1,129 Mn (▲9%), Margin 27% (▼1 pp)
  • Annuity: Revenue ₹1,307 Mn (▲5%), EBITDA ₹1,173 Mn (▲5%), Margin 90% (Flat)

H1 FY27 Performance (YoY):

  • India Hospitality: Revenue ₹4,116 Mn (▲11%), EBITDA ₹1,563 Mn (▲10%), Margin 38% (Flat)
  • International Hospitality: Revenue ₹4,309 Mn (▲12%), EBITDA ₹626 Mn (▼13%), Margin 15% (▼4 pp)
  • Total Hospitality: Revenue ₹8,425 Mn (▲11%), EBITDA ₹2,190 Mn (▲2%), Margin 26% (▼2 pp)
  • Annuity: Revenue ₹2,588 Mn (▲4%), EBITDA ₹2,286 Mn (▲3%), Margin 88% (▼2 pp)

Explanation of significant changes in segment performance: International hospitality EBITDA decline in H1 due to war-related diesel price hike in Maldives properties, partially offset by strong revenue growth.

Financial Highlights

Q2 FY27:

  • Revenue from Operations: ₹5,511 Mn (▲13% YoY)
  • Total Income: ₹5,823 Mn (▲5% YoY)
  • EBITDA: ₹2,418 Mn (▼5% YoY)
  • EBITDA Margin: 42% (▼4 pp YoY)
  • PAT: ₹337 Mn (▼47% YoY)
  • EPS: Not Specified
  • Depreciation & Amortization: ₹1,022 Mn (▲29% YoY)
  • Adjusted EBITDA: ₹2,530 Mn (▲1% YoY) after adjusting for Maldives diesel costs

H1 FY27:

  • Revenue from Operations: ₹10,939 Mn (▲10% YoY)
  • Total Income: ₹11,366 Mn (▲6% YoY)
  • EBITDA: ₹4,464 Mn (▼6% YoY)
  • EBITDA Margin: 39% (▼5 pp YoY)
  • PAT: ₹1,579 Mn (▲55% YoY)
  • Operating EBITDA: ₹4,037 Mn (▲2% YoY)
  • Operating EBITDA Margin: 37% (▼3 pp YoY)
  • Adjusted EBITDA: ₹4,831 Mn (▲3% YoY) after adjusting for one-time items

Drivers of financial performance: Higher revenue growth offset by increased depreciation from new properties and diesel cost inflation in Maldives. Other income declined 52% YoY in Q2 FY27.

Key Risks: Geopolitical events affecting tourism, diesel price volatility, regulatory environment changes.

Geographical Revenue Split

  • Domestic vs Export Revenue: Not explicitly specified in presentation
  • Regional Breakdown: Operations in India, Maldives, and upcoming Sri Lanka property
  • USD to ₹ conversion rates: Q2FY27 average 95.60, Q2FY26 average 87.27

Balance Sheet Snapshot

  • Net Debt/Equity: Not Specified
  • Reserves: Not Specified
  • Current Assets/Liabilities: Not Specified
  • Working Capital/Leverage Metrics: Not Specified

Financial Health Insights: Funding development pipeline through internal accruals and debt.

Capex & Cash Flow Health

  • Capital Expenditure: Board-approved captive solar investment up to ₹60 Cr
  • Free Cash Flow: Not Specified
  • Operating Cash Flow: Not Specified
  • Net Debt Movement: Not Specified

Investment Rationale: Focus on capacity expansion with 1,500+ keys under development, technology upgrades including solar power investments.

Strategic & R&D Initiatives

Investments in Innovation:

  • ~15 MW solar capacity being installed by FY28 across portfolio
  • 3.5 MW at Raaya Maldives (Apr 2027 target)
  • ~1 MW at Conrad and Anantara Maldives (Sep 2027 target)
  • 10 MW Pune captive solar with battery (Q4FY27 target)

Expected impact on growth: Raaya to run generator-free for 17 hours daily (>80% solar), estimated annual diesel savings of 1.6 million liters in Maldives.

Strategic Rationale: Expanding into high-growth markets (Varanasi, Sri Lanka), reducing operational costs through renewable energy, focusing on wellness and lifestyle segments.

Industry Trends & Business Environment

Macro/Industry Trends:

  • Pune emerging as India's fastest-growing GCC hub with 500+ GCCs
  • Global wellness economy projected to reach $10tn by 2029
  • 12% travel spend CAGR in India by 2040
  • 40% of hotel income from F&B and events in lifestyle-led hotels

Impact on Company: Structural demand tailwinds for premium hospitality in Pune, opportunity to capture wellness and leisure travel growth through pipeline properties.

Management Commentary & Growth Outlook

Strategic Outlook: Portfolio focused on luxury segment with 80% luxury focus, leveraging global recognition including MICHELIN Keys for The Ritz-Carlton Pune and Soho House Mumbai.

FY Guidance: Not explicitly provided

Market Share Targets: Not explicitly provided

Risks and Opportunities: Geopolitical risks affecting tourism, currency hedge benefits from dollar revenue in Maldives, high entry barriers in Maldives resort market.

ESG Updates

Climate & Energy:

  • 49% FY26 renewable electricity share (▲2pp YoY)
  • 10 of 18 properties ISO 14001 certified
  • 6 of 18 properties ISO 45001 certified
  • 6 of 18 properties ISO 9001 certified

Marine Conservation:

  • 13 3D-printed clay reef structures installed at Anantara Dhigu
  • All Maldives resorts are Green Fins members
  • 10,000+ corals supported under HARP reef-protection programme

People & Governance:

  • 19% women in workforce
  • 100% return-to-work rate following maternity leave
  • 96% employees trained on Health & Safety
  • 100% properties assessed for labor practices with zero adverse findings

Development Pipeline

Owned Properties:

  • AC by Marriott Whitefield: 166+33 keys, Q1FY28 opening
  • Ritz-Carlton Reserve Pottuvil: 73 keys, FY30-31 opening
  • Varanasi Marriott Hotel: 161 keys, Q3FY28 opening
  • Ritz-Carlton Reserve Sahyadri Hills: 80+ keys, FY29 opening
  • Hilton Goa Resort: +50 keys, timeline TBD
  • Soho House Delhi: 24 keys, FY29 opening

ROFO Properties:

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

Total Pipeline: 1,500+ keys under development