Kamat Hotels (I) Limited — Investor Meet, 12-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Kamat Hotels reported Q2 FY26 consolidated revenue of INR 75 Cr (-12% YoY) and an EBITDA of INR 8 Cr (-63% YoY), leading to a loss of INR 0.3 Cr. H1 revenue was INR 158 Cr (flat YoY) with EBITDA of INR 26 Cr (-28% YoY) and PAT of INR 2 Cr. Management attributed the Q2 dip to monsoon impact in Maharashtra, revenue loss from Shimla/Manali due to road damage, pre-opening expenses for 5 new hotels, and renovation work at Orchid Pune. Despite challenges, management maintains its FY26 revenue guidance of INR 400 Cr, expressing confidence in Q3/Q4 performance. They aim to expand beyond Maharashtra and monetize assets like Pune land. The merger proposal was withdrawn due to prolonged regulatory delays.