Kamat Hotels (I) Limited has informed the Exchange about Closure of IRA by Orchid Hotels, Mumbai.
KAMATHOTEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Kamat Hotels is shutting down its 'IRA by Orchid Hotels' property in Andheri East, Mumbai, effective April 1, 2026, because the Leave and License Agreement (dated October 26, 2023) is expiring on March 31, 2026. This was an operated-asset arrangement rather than a company-owned hotel. The property contributed Rs. 4,807.59 lakhs to standalone revenue from operations in FY25. The company has assured investors that discontinuing this property will not hurt overall profitability going forward.
The closure is due to a natural expiry of a license agreement and management expects no negative impact on profitability, so the stock is unlikely to see a material negative reaction. Investors may want to watch the FY27 results to confirm the management's claim that the lost revenue gets offset elsewhere.