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JUNIPER · price
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Juniper Hotels reported record FY26 performance with revenue of INR1,047.7 crores (11% Y-o-Y growth) and EBITDA of INR444 crores (21% growth). The company achieved 400 basis point margin expansion to 42%, exceeding its stated target. PAT nearly doubled to INR141.6 crores. Portfolio ARR grew 9% Y-o-Y with Grand Hyatt Mumbai, Andaz Delhi, and Hyatt Regency Ahmedabad outperforming comp sets. Management highlighted strong domestic demand resilience despite geopolitical disruptions and airline disruptions. The company has 5 projects in pipeline adding 1,400+ rooms by FY30, including a 500-key luxury hotel in Delhi (DDA land award), Westin Bangalore opening Q2 FY27, and projects in Kaziranga and Guwahati. Total capex guidance of ~INR1,800 crores through FY30 with peak debt in FY28 expected below 2.5x debt-to-EBITDA.
Strong operational performance with margin expansion and near-doubling of PAT demonstrates execution capability. The detailed growth pipeline and capex guidance provide visibility on future expansion, though some investors raised concerns about revised room targets (from 4,000 to 3,320 by FY30) and declining stock price.