Transcript of Earnings Call - Q4 FY 26
BRIGHOTEL · price
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Brigade Hotel Ventures reported a solid Q4 FY26 with total income of INR146 crores (up 8% YoY) and EBITDA of INR58 crores (up 13% YoY) at a 39.7% margin. PAT more than doubled to INR25 crores vs INR13 crores in Q4 FY25. For the full year, income grew 15% to INR543 crores and PAT surged 174% from INR24 crores to INR65 crores. Operational metrics showed ARR at INR8,066 (up 7%), occupancy at 78%, and RevPAR at INR6,295 (up 6%). Management flagged INR7-8 crores in cancellations due to geopolitical disruptions affecting international travel, though domestic demand remained robust at 73% of business mix. The company guides sustainable EBITDA margins of 37.5-38% excluding one-off items, with plans to upgrade the Kochi hotel to Courtyard by Marriott and launch a new Courtyard in Chennai in Q3 FY27.
Strong profitability growth with PAT more than doubling demonstrates operational efficiency and debt reduction benefits. The company maintains a healthy net cash position of INR110 crores while funding its INR3,600 crores capex pipeline through a balanced debt-equity mix.