Brigade Hotel Ventures (BRIGHOTEL) Q1 25/26 earnings summary

Executive summary

• Revenue grew 22% year-over-year for Q1 FY26, reaching ₹1,250 Mn, and EBITDA rose 24% to ₹418 Mn, with margin improving to 33.4%.

• PAT turned positive at ₹71 Mn, reversing a loss of ₹58 Mn in Q1 FY25.

• IPO was oversubscribed 3.1x, raising ₹8,856 Mn, with proceeds used for debt repayment and expansion.

• Bangalore and Chennai hotels achieved 12% and 13% RevPAR growth, while GIFT City hotel delivered 44% RevPAR growth.

• F&B revenue increased 32% year-over-year, driven by large-scale events and a focus on outdoor catering.

Financial highlights

• Consolidated income for Q1 FY26 was ₹1,250 Mn (₹12,416 lakhs), up 22.3% from the prior year.

• EBITDA margin improved to 33.4%, up 56 bps year-over-year.

• Consolidated PAT was ₹71 Mn (₹716 lakhs), reversing a loss of ₹58 Mn (₹578 lakhs) in the prior year.

• EPS for Q1 FY26 was ₹0.22, up from a loss per share in Q1 FY25.

• Net borrowings stood at ₹6,266 Mn as of Q1 FY26.

Outlook and guidance

• Nine new hotels (~1,700 keys) are planned, aiming to double the portfolio to 3,300 keys, funded by IPO proceeds and operational cash flows.

• Focus on high-growth segments: leisure destinations, religious circuits, business markets, and premium hotels.

• ADR and RevPAR are expected to see significant increases as new premium hotels come online.

• F&B segment will remain a focus, with plans to relaunch outlets and target double-digit growth.