Apeejay Surrendra Park Hotels Limited — Investor Meet, 19-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

The company reported strong Q2 FY26: revenue +17% YoY to INR 165 Cr, operating EBITDA +15% to INR 49 Cr. Occupancy was an industry-leading 93%, with ARR +13%, RevPAR +12%. H1 FY26 consolidated net revenue reached INR 320 Cr, EBITDA INR 94 Cr, and PAT INR 30 Cr. Management confident about a hospitality "super cycle." Strategic focus includes asset-light expansion, aiming for ~50 hotels/~3,000 keys by FY26, with acquisitions like Zillion Hotels (INR 206 Cr). Flurys' topline grew 22%, targeting 130 stores by Q4 FY26. H2 outlook positive, targeting 100 bps EBITDA margin improvement year-on-year.