India · Delayed Price · Currency is INR SAMHI Hotels Earnings Call Transcripts
Fiscal Year 2026
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FY 2026 saw 12.3% revenue growth and 89% PBT growth despite disruptions, with strong deleveraging, robust free cash flow, and a fully funded pipeline. FY 2027 guidance is for 10%-11% revenue growth and 38% margins, with continued asset recycling and expansion in upscale segments.
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Q3 FY 2026 saw robust revenue and EBITDA growth despite GST-related margin pressure and airline disruptions. Strong demand, dynamic pricing, and a growing upscale portfolio support continued double-digit RevPAR growth and a positive outlook toward the INR 3,000 crore revenue target by 2030.
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Q2 and H1 FY26 saw double-digit RevPAR and EBITDA growth, a strengthened balance sheet, and major expansion into Mumbai and Hyderabad. Management expects robust H2 performance, with strong free cash flow funding INR 1,500 crores CapEx over five years, and continued focus on tier-one markets and capital efficiency.
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Q1 FY26 saw 13% revenue growth and a 19% EBITDA increase, driven by strong same-store and new hotel performance. Asset recycling and GIC capital infusion strengthened the balance sheet, with net debt/EBITDA at 3x and a positive credit outlook.
Fiscal Year 2025
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FY25 saw robust revenue and EBITDA growth, margin expansion, and a strengthened balance sheet following a major GIC partnership. Strong RevPAR gains in core markets and new room additions support a positive outlook, with further growth expected from renovations and rebranding.
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A strategic partnership with GIC will see a 35% stake in three upscale hotel subsidiaries for INR 752 crore, significantly reducing debt and strengthening the balance sheet. The platform enables future growth, with a focus on disciplined capital recycling and a 15%-20% PAT upside expected.
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Q3 FY25 saw 10% revenue and 25% EBITDA growth year-on-year, with strong same-store RevPAR and margin expansion. ACIC portfolio transitioned to managed model, boosting margins, while net debt rose due to CapEx. Asset recycling and portfolio upgrades are set to drive future growth.
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Q2 FY25 saw 20% revenue growth and 80% EBITDA growth year-on-year, driven by strong same-store performance, ACIC integration, and new upscale acquisitions in Bengaluru and Hyderabad. Net debt to EBITDA is guided at 4.5x, with plans to reduce leverage via capital recycling.