Apeejay Surrendra Park Hotels Limited — PPTs, 13-11-2025: Investor Presentation

ASPHL posted its best-ever Q2 and H1 FY26, showing strong operational momentum.

**1. Business Performance:** Operating revenue and EBITDA saw high-teen growth for the quarter and half-year. The company achieved India's highest occupancy (93% in Q2, 92% in H1) and market leadership in RevPAR. Retail F&B brand Flurys expanded to 102 outlets, with Q2 and H1 top-line growth of 22% and 31% respectively.

**2. Growth Drivers & Strategy:** Strategic expansion includes acquiring Zillion Hotels in Mumbai (opening end-2026) and Malabar House & Purity at Lake Vembanad (Kochi, opening Dec 2025). A new Kolkata hotel project is set to break ground in January 2026. ASPHL is also implementing NOR1, an AI-based upselling platform.

**3. Recent Developments:** ICRA revised the company’s outlook from Stable to Positive. Ran Baas The Palace and The Lotus Palace received several global design and hospitality awards.

**4. Key Financial Metrics:** For Q2 FY26, consolidated revenue rose 7% to ₹167 Cr, but consolidated EBITDA decreased 13% to ₹50 Cr, with PAT dropping 39% to ₹16 Cr. H1 FY26 consolidated revenue was up 10% to ₹323 Cr, with EBITDA down 2% to ₹98 Cr, and PAT down 19% to ₹30 Cr. Net Debt stands at ₹132.16 Cr (D/E 0.16).

**5. Management Commentary/Outlook:** Management highlighted Q2's accelerated momentum and sustained growth from high occupancy and improved room rates. The focus remains on further improving growth, enhancing guest engagement, and creating enduring value for all stakeholders.