WATERWAYS LEISURE TOUR L

Operates multi-night leisure cruises departing from Indian ports such as Mumbai, Chennai and Goa, with itineraries running to domestic destinations including Goa and Lakshadweep and international ones in Sri Lanka, the Maldives and Southeast Asia (Phuket, Langkawi, Kuala Lumpur and Singapore). The current ship is Cordelia Empress, with Cordelia Sky due for handover in September 2026 and a maiden Mumbai voyage on October 23, 2026 — Sky spans 258 metres at 77,104 gross tonnes with 10 dining venues, a 930-seat theatre, two pools and over 30,000 sq ft of open deck. A third ship, Cordelia Sun, is expected post March 2027. Revenue comes from ticket sales on these itineraries, with on-board spend as a supplementary source. In Q1 FY27, standalone revenue was Rs 190.11 crore (about 8% higher year on year), average ticket price reached Rs 11,581 (up 4.3%), load factor hit 105%, and over 55,700 guests sailed across 24,245 staterooms booked, yielding a net profit of Rs 22.77 crore at roughly 12% margin. EBITDA margin nonetheless compressed to 24.5% from 32% as fuel costs rose about 65%, an Rs 14 crore hit driven by Middle East tensions, which the operator plans to recoup via surcharges from Q3. Rs 65 crore of advance bookings is reported, translating to Rs 110-115 crore of locked-in future revenue, while distribution is being widened via a new Cochin sales centre opening September 2026 and a Chairman's Club loyalty programme set to launch by end of Q2.