Viceroy Hotels Q1 FY27: Revenue Surges 77% to ₹44.9 Cr, PAT Turns Positive
Viceroy Hotels Limited reported a strong Q1 FY27 with revenue surging 77% to ₹44.9 crore and PAT turning positive at ₹1.4 crore. EBITDA grew 144% to ₹11.8 crore with margins at 26.3%. Occupancy improved significantly across properties. The company expects further growth as renovations complete and the convention center reopens, targeting EBITDA margins over 30%.
The substantial increase in revenue and profitability, coupled with positive future outlook and progress on key initiatives like renovations and Greenfield expansion, indicates a high impact on the company's financial health and investor confidence.
The company reported significant year-on-year growth in revenue and EBITDA, along with a turnaround to profitability. Improved operational metrics and positive outlook contribute to a positive sentiment.
Viceroy Hotels Limited reported a strong Q1 FY27 with consolidated revenue from operations reaching ₹44.9 crore, a significant 77% increase from ₹25.4 crore in Q1 FY26. The company achieved a positive Profit After Tax (PAT) of ₹1.4 crore, a notable turnaround from a loss of ₹3 crore in the same quarter last year. EBITDA for the quarter was ₹11.8 crore, up 144% from ₹4.8 crore in Q1 FY26, with margins expanding to 26.3% from 19%. This performance was driven by improved occupancy rates across its properties, with combined occupancy rising to 76.25% from 53.65%. The Marriott and Courtyard hotels saw occupancy improve to 72.04% and 83.65% respectively. Revenue from operations for Marriott Executive Apartments also grew, with ADR increasing by 7.5% and occupancy to 94%. The company is focusing on completing ongoing renovation programs, driving occupancy and RevPAR, improving operational efficiencies, strengthening its executive apartments business, and pursuing disciplined growth opportunities.
The company anticipates further performance improvement as the renovated Courtyard facility gains traction, the convention center at Marriott is back in service, and the Marriott Executive Apartments complete a full financial year. Viceroy Hotels aims to achieve EBITDA margins above 30% in the near term and a long-term benchmark of 40%. Key priorities include completing renovations, driving occupancy and RevPAR, improving operational efficiencies, and strengthening ancillary businesses.
During the earnings call, management discussed the impact of renovations and the convention center closure on ADR, noting that ADR is expected to increase once the convention center is operational. The company is also progressing with its Greenfield expansion plans for Courtyard at Madhapur, with construction expected to start in Q4 FY27 and operations by FY29-30. Viceroy Hotels is also seeking approval for a rights issue to raise ₹107 crore, primarily for debt repayment.
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See the model portfoliosA plain-language summary of a public exchange filing by Viceroy Hotels Limited. Read the original for the full detail.