Juniper Hotels Limited — Investor Meet, 16-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Juniper Hotels reported a record Q3 FY26, with revenue reaching INR300 Cr (+15% YoY) and EBITDA at INR132 Cr (+31% YoY), leading to a 44% margin (+500 bps). PAT surged 101% to INR65 Cr. For 9M FY26, EBITDA stood at INR306 Cr (40% margin) and PAT at INR91.2 Cr (+459% YoY). Portfolio ARR grew 9% to INR12,818, with 78% occupancy. F&B revenue increased 25% to INR94 Cr, representing 32% of total revenue. Net bank debt-to-EBITDA is 1.3, with INR237 Cr cash.

Management is confident in India's strong luxury hospitality market and expects to meet full FY26 targets. Strategic expansion includes Bengaluru Phase I (235 keys, Q1 FY27 opening, ~INR1.75 Cr/key, 15%+ ROCE), Kaziranga (111 keys), and Guwahati (340 keys, Q2 FY27 start). Permission to add 314 keys at Grand Hyatt Mumbai is secured, with adjacent land parcels being evaluated. A projected FY27-28 capex of ~INR800 Cr will be largely funded by robust cash flows and existing debt headroom. The company also holds a tax shield of over INR1,000 Cr, ensuring zero tax status for at least 3 years. Management is actively exploring new opportunities in Hyderabad and Navi Mumbai, maintaining a positive outlook driven by sustained market demand.