Brigade Hotel Ventures Ltd

Brigade Hotel Ventures Limited trading window closed from October 1, 2026 up to 48 hours after the declaration of financial results for the quarter and half year ending September 30, 2026

Meeting Details

• Date: Monday, September 21, 2026.
• Event: Anand Rathi Conference.
• Type: One-on-One/Group meeting.
• Mode: Physical in Mumbai.
• Purpose: Analyst/Institutional investor interaction per Reg 30 schedule.

ESOP 2026 approvals

• Item 1 is special: approval of BHVL ESOP 2026 for employees and directors.
• Total options up to 7.5 million; Rs 10 per share.
• Exercise price set by Nomination & Remuneration Committee; up to 5% discount to market.
• Vesting: minimum 1 year, maximum 4 years.
• Exercise period: five years from vesting; vesting per grant letter.
• Cut-off date for eligibility: 28 August 2026.
• Board authorized to finalize terms, listing, and amendments.

Related party transactions with SRP Prosperita Hotel Ventures Limited

• Item 2 ordinary: approval of related party transactions with SRP Prosperita Hotel Ventures Limited.
• Aggregate value up to Rs 64.22 crore over 12 months.
• Redemption of 54,45,000 B Series NCDs with accrued interest.
• Cross-charge of expenses and reimbursement as per actuals.
• Sale/purchase of goods and services (F&B, room rentals) per agreements.
• Rent payments as per agreement.
• Approximately 92% of SRP PHVL FY25-26 turnover.
• Counterparty: SRP Prosperita Hotel Ventures Limited; related directors Nirupa Shankar and Vineet Verma.
• Related parties abstain from voting on Item 2.
• Audit Committee approved; Board recommends ordinary resolution.

Meeting Details

• Date: Tuesday, August 25, 2026; format: one-on-one investor meetings in Chennai.
• Mode: physical in Chennai.
• Purpose: general investor interaction.

Leadership appointment

• Brigade Hotel Ventures Limited appoints Vinay Gupta as Chief Executive Officer.

Executive background

• Gupta previously led transformation of a 22-hotel portfolio at InterGlobe Hotels & Accor.
• Led a portfolio of more than 25 hotels across India for SAMHI, with Marriott, Hyatt, and IHG.

Financial Performance

• Q1 FY27 total income: INR131 crores.
• Consolidated EBITDA: INR46 crores; up 9% YoY.
• GST 2.0 impact: 1.6% on EBITDA margin.
• PAT after tax: INR17 crores; up 140% YoY.
• ARR for quarter: INR7,241; up 7% YoY.
• Occupancy: 75.7%; RevPAR: INR5,479; up 9% YoY.
• Finance cost: INR8.7 crores; down from INR18.9 crores.

Portfolio and Operations

• Bangalore hotels: ARR up 3%; occupancy up 8%; RevPAR up 10%.
• Kochi Infopark: ARR up to INR4,650; occupancy dipped due to crew and rebranding.
• Courtyard Kochi rebranding completed; Four Points by Sheraton renamed to Courtyard.
• World Trade Center Chennai: 45-key launch; ADR starting at INR9,000; occupancy ~80%.
• Grand Hyatt: slight delay due to approvals.
• F&B contribution: 32% of top line.

Balance Sheet and Cash Flow

• Net cash position: INR108 crores as at 30 June 2026.
• IPO proceeds deleveraging: INR468.1 crores; effectively no institutional debt.
• Finance cost declined; contributing to P&L strength (YoY reduction in FY27).

Capex and Projects

• Expansion capex: INR3,600 crores; INR400 crores invested FY26; INR500 crores planned FY27.
• Q1 FY27 capex around INR53 crores (CWIP 45; renovations 3.5; Grain 4).
• Balance FY27 capex around INR350 crores in next three quarters.
• 1,700 keys under development; 3,300 keys by FY31.
• Luxury mix to 38% by FY31; 31% by FY29.
• WTC Chennai: 45-key launch; ADR INR9,000; occupancy ~80%.
• Kochi ARR up to INR4,650; occupancy dip due to crew/rebranding.
• JW Marriott and Thiruvananthapuram planning; commissioning by 2030.
• IPO proceeds may be used for acquisition; due diligence underway; target FY27.

Outlook and Guidance

• Q2 expected to be buoyant; aim to recover Q1 revenue in H2 FY27.
• F&B contribution ~32% of top line.
• FTA mix declined to 30% from 40%.
• Portfolio ADR target above INR7,500 per hotel; GST offset contemplated.
• Cancellations: INR14 crores, about 10% of top line.
• July performance improving; MICE bookings rising; buoyant year ahead.

Corporate Matters

• Manoj Agarwal resigned; Vinay Gupta appointed CEO.
• First AGM as listed company on Aug 5; investor engagement increased.

Q&A Highlights

• Q1 capex ~INR53 crores; balance over next three quarters.
• FY27 capex around INR350 crores in H2.
• Acquisition discussions ongoing; due diligence in progress; target FY27.
• FTAs mix reduced to 30% from 40%.
• Chennai WTC ADR 9,000; occupancy ~80%.

AGM Details

• Tenth AGM held on 05 August 2026.
• Transcript uploaded on the company's website; access via https://bhvl.in/investors/regulation-46/agm-voting-results/.

Meeting Details

• Date: August 06, 2026.
• Event: Q1 FY2027 conference call with investors and analysts.
• Type: group conference call.
• Mode: not specified.

Participants

• Key company participant: Company Secretary & Compliance Officer.

Purpose

• Purpose: discuss Q1 FY2027 results with investors and analysts.

Additional Notes

• Audio recording of the conference call uploaded on the company's website.