NSE: VENTIVE · BSE: 544321
VENTIVE HOSPITALITY LTD
Operates a hospitality business alongside a long-duration commercial leasing ("annuity") portfolio. In FY26, Hospitality was 79.5% of segment revenue at INR 1,956.505 crores and Commercial Leasing was 20.4% at INR 502.88 crores. The hospitality arm runs hotels and resorts in India (including Pune, Bangalore and other markets, plus newly acquired Hilton Goa, Soho House, Sol de Goa and Narmada Estates) and a Maldives portfolio (Conrad, Anantara and Raaya by Atmosphere). The commercial leasing arm earns long-term rental income and delivered an EBIT of INR 409.598 crores on INR 502.88 crores of segment revenue in FY26, making it the higher-margin stream. Total FY26 consolidated revenue was INR 2,461.049 crores with net profit of INR 501.887 crores and EBITDA margin of 52.46%. The cost mix is dominated by other operating expenses (32.2% of revenue), followed by employee costs (14.9%), depreciation (13.3%), materials (8.5%) and capex (8.6%). The business is asset-heavy, with gross debt of INR 1,999 crores and net debt/EBITDA of 1.14x as of FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Hospitality (80%), Commercial Leasing (20%), Others (1%). Asset-heavy hospitality (India + Maldives) and property leasing with high EBITDA margins and an annuity-style income stream.
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 1,605 | 2,461 |
| EBITDA (ex other income) | 755 | 1,086 |
| margin % | 47.0 | 44.1 |
| Owners' profit | 120 | 0 |
| EPS, as reported (₹) | 6.83 | 18.23 |
| ROE % · ROCE % | 2.8 · 6.2 | 7.4 · 9.7 |
| Debt / equity (x) | 0.39 | 0.30 |
| Cash from operations | 677 | 950 |
| Capex | (55) | (211) |
Exhibit 2: Quarterly performance, last 7 quarters
| ₹ crore | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|
| Revenue | 534 | 698 | 507 | 489 | 685 | 779 | 543 |
| Profit before tax | 80 | 193 | 80 | 120 | 200 | 334 | 63 |
| Net profit | 35 | 151 | 38 | 64 | 140 | 259 | 124 |
| EPS (₹) | 1.06 | 5.48 | 1.15 | 2.25 | 5.00 | 9.83 | 3.46 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Hospitality | 1,957 | 79.5 |
| Commercial Leasing | 379 | 15.4 |
| Others | 12 | 0.5 |
| Commercial leasing | 124 | 5.0 |
| Total, before eliminations | 2,471 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| THE INDIAN HOTELS CO. LTD | 1,15,701 | 53.9 | 7.74 | 30.7 | 15.0 | 16.2 | 43.8 | 32.2 |
| ITC HOTELS LIMITED | 34,472 | 39.8 | 2.95 | 22.4 | 7.0 | 9.0 | — | 37.5 |
| LEELA PALACES HOTEL LTD | 19,829 | 32.8 | 3.07 | 26.4 | 6.2 | 5.9 | — | 43.2 |
| EIH LIMITED | 18,135 | 25.5 | 3.35 | 17.0 | 12.2 | 14.9 | 42.7 | 31.6 |
| CHALET HOTELS LIMITED | 17,782 | 33.6 | 4.81 | 16.2 | 17.4 | 13.6 | 56.6 | 45.5 |
| VENTIVE HOSPITALITY LTD ◆ | 12,520 | 26.1 | 1.85 | 11.1 | 7.4 | 7.4 | — | 37.7 |
| LEMON TREE HOTELS LTD | 8,434 | 35.9 | 4.06 | 15.6 | 13.9 | 9.2 | 41.8 | 44.1 |
| INDIA TOUR. DEV. CO. LTD. | 5,146 | 62.8 | 12.52 | 42.0 | 20.0 | 26.6 | 24.7 | 17.2 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 26.1 | 26.1 | 29 of 57 | 50% |
| P/B | 1.9 | 1.6 | 33 of 57 | 43% |
| ROCE | 7.4 | 4.9 | 22 of 65 | 67% |
| ROE | 7.4 | 6.3 | 24 of 57 | 59% |
| Debt / Equity | 0.3 | 0.2 | 35 of 57 | 39% |
| EBITDA margin | 37.7 | 29.5 | 19 of 58 | 68% |
| Revenue growth | 7.0 | 7.6 | 31 of 58 | 47% |
| Profit growth | 227.4 | 11.6 | 8 of 55 | 87% |
| Market cap | 12520 | 237 | 6 of 66 | 92% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Investor conference call for September 2026 quarter and half-year results | board shareholder meetings | low | — | — |
| 26 Oct 2026 · Board meeting set for November 2 to approve September results | results | low | — | — |
| 12 Oct 2026 · Ventive Hospitality to appeal NCLT order on amalgamation scheme | regulatory legal | high | — | — |
| 7 Oct 2026 · Routine SEBI compliance certificate for Q2 FY26 filed with exchanges | compliance | minimal | — | — |
| 28 Sept 2026 · Trading Window closed from Oct 1 ahead of Q2 results | compliance | minimal | — | — |
| 24 Sept 2026 · NCLT orders meetings for merger of three subsidiaries into Ventive Hospitality | regulatory legal | high | — | — |
| 5 Sept 2026 · Ventive Hospitality to attend Avendus Small Cap Conference | business updates | low | — | — |
| 27 Aug 2026 · Investor conference schedule update - Ashwamedh Elara Dialogue 2026 | board shareholder meetings | low | — | — |
| 26 Aug 2026 · 25th AGM voting results - both resolutions passed with near-unanimous approval | board shareholder meetings | medium | — | — |
| 26 Aug 2026 · Ventive Hospitality 25th AGM: Revenue up 24%, PAT crosses 500 cr | board shareholder meetings | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.