Apeejay Surrendra Park Hotels Ltd

Dematerialisation status

• Securities received for dematerialisation were confirmed to depositories and listed on the stock exchanges.
• Physical certificates dematerialised were mutilated and cancelled after verification; depository's name substituted in the records.

AGM Details

• Date and time: 26 September 2026 at 11:00 AM IST via VC.
• Mode: Video Conference/Online via OAVM.
• Record date: 19 September 2026 for voting rights.

Resolutions and outcomes

• Resolution 1 – Adoption of standalone and consolidated financials; passed (Assent 98.18%, Dissent 1.82%).
• Resolution 2 – Dividend on equity shares; passed (Assent 100%, Dissent 0%).
• Resolution 3 – Re-appoint Karan Paul as Director by rotation; passed (Assent 98.18%, Dissent 1.82%).
• Resolution 4 – Remuneration of Karan Paul, Non-Executive Director; passed (Assent 95.12%, Dissent 4.88%).

Dividend details

• Dividend declared on equity shares for the year; per-share amount not disclosed.

Directors

• Karan Paul re-appointed as Non-Executive Director by rotation.

Auditors

• No statutory/secretarial/cost auditor changes reported.

Related party transactions

• No material related-party transactions approved.

Other material approvals

• All AGM items resolved; no additional material approvals.

Key developments

• Hotel Management Agreement signed for Zone Connect by The Park Bharatpur, Rajasthan.
• 63-key hotel expected to open in Q3 2026.
• Facilities include Café C, banquet hall, and landscaped lawns for weddings.
• Commentary from Zone by The Park leadership on Bharatpur as a destination.

AGM Details

• Date 26 September 2026; time 11:00 A.M. IST; mode VC/OAVM.
• 87 members attended the AGM.
• Meeting conducted via video conferencing as per MCA/SEBI guidelines.

Resolutions (ordinary)

• Adopt audited standalone and consolidated financial statements for FY ended 31 March 2026.
• Declare dividend on equity shares for FY ended 31 March 2026.
• Re-appoint Mr. Karan Paul as Director, liable to retire by rotation.

Resolutions (special)

• Approve remuneration of Mr. Karan Paul, Non-Executive Director.

Voting status

• Voting results to be communicated after Consolidated Scrutinizer’s Report.
• AGM concluded at 12:33 P.M. IST.

Apeejay Surrendra Park Hotels Limited — Trading Window closes from October 01, 2026 in connection with the finalization and approval of financial results for the second quarter (Q2) and half year ending on September 30, 2026; the trading window will open 48 (Forty-Eight) hours after the financial results of the Company are declared and disseminated to the Stock Exchanges.

Meeting Details

• Sept 28, 2026, 01:00 pm IST — Arihant Capital Conference; Virtual, Group Meet.
• Sept 29, 2026, 10:00 am IST — PL Capital Conference; In person, One-on-one / Group Meet.
• Sept 30, 2026, 10:00 am IST — Investor Meet hosted by Valorem Advisors; In person, One-on-one.

Purpose

• Purpose: Analyst/institutional investor meetings to discuss publicly available information.

Leadership appointment

• Manish Bhagat appointed Chief Financial Officer and Key Managerial Personnel, effective September 21, 2026.
• Succeeds Atul Khosla, who has stepped down to pursue a new professional opportunity.
• Bhagat brings over 20 years of finance experience across hospitality, retail, engineering, aviation, and aerospace.
• The company aims to strengthen financial performance and drive growth under new leadership.
• ASPHL operates 42 hotels across five brands.

Cessation: Atul Khosla

• Atul Khosla resigned as CFO and KMP, effective September 21, 2026.
• Reason: to pursue a new professional opportunity.
• CFO vacancy to be filled by Manish Bhagat from September 21, 2026.
• Notice period through December 20, 2026; smooth transition planned.

Business Overview

• Pan-India hospitality platform across hotels, F&B, and entertainment with four sub-brands.
• 42 hotels and 2,677 keys; Flurys operates 111 cafés/outlets nationwide.
• Asset-light growth via Zone by The Park and Zone Connect.
• FY30 roadmap includes 6,000+ keys and land monetisation enabled by NOR1 upselling.

Key Operational Highlights

• Roadmap to FY30 targets 6,000+ keys; asset-light portfolio focus.
• Integrated development: 218 hotel rooms and 69 serviced apartments.
• Mumbai Juhu owned 78 rooms; launch Oct 2027; NOC to commence.
• Navi Mumbai expansion: 250 owned rooms; launch 2028; completion 2032.
• Pune: 200 owned rooms; FSI uplift to 6.72 lakh sq ft; completion 2030.
• Vizag: 100 owned rooms; environment clearance obtained; planned launch.

Financial Performance

• FY26 total revenue INR 7,130 Mn; EBITDA INR 2,180 Mn; EBITDA margin 30.82%.
• PAT INR 657 Mn; PAT margin 9.21% FY26.
• Q1-FY27 revenue INR 1,716 Mn; EBITDA INR 469 Mn; PAT INR 115 Mn.
• Total equity INR 13,421 Mn; total assets INR 20,543 Mn; cash INR 242 Mn.

Capital Structure & Liquidity

• Total borrowings INR 2,573 Mn (non-current INR 2,020; current INR 553).
• Cash and equivalents INR 242 Mn; equity INR 13,421 Mn.

Strategic Priorities & Outlook

• FY30 growth catalysts: 6,000+ keys; accelerate asset-light expansion.
• Residential monetisation supports hotel development cash flows.
• Land monetisation and branded residences via EM Bypass project.
• NOR1 AI upselling enhances guest personalization.

Risks & Mitigation

• Risks: growth management, earnings volatility, competition, macro tourism policy.
• Mitigation: asset-light expansion, premium-brand portfolio, diversified revenue streams.

Governance & Leadership

• Board: Priya Paul (Chairperson); Vijay Dewan (MD).
• Independent directors include Ranjit Pachnanda and Ragini Chopra.
• Key managerial personnel: Atul Khosla (CFO); Aparajita Brahma (VP Finance); Shalini Keshan (Company Secretary).