Brigade Hotel Ventures (BRIGHOTEL) Q3 25/26 earnings summary
Event summary combining transcript, slides, and related documents.
Q3 25/26 earnings summary
31 Aug, 2026Executive summary
Delivered strong Q3 FY26 performance with 14% YoY income growth to ₹143 Cr and 17% YoY EBITDA increase, driven by robust domestic demand, operational efficiencies, and disciplined execution.
Portfolio occupancy remained stable at 76.1%, with ARR and RevPAR both up 17% YoY; Bangalore and Ahmedabad GIFT City hotels led with ARR and RevPAR up 19% and 24% respectively.
EBITDA margin reached 35.9%, and PAT more than doubled to ₹22 Cr, aided by lower finance costs post-IPO debt repayment.
F&B revenue grew 16% over nine months, with new outlets planned to further boost growth.
Approved unaudited consolidated and standalone financial results for Q3 and nine months ended December 31, 2025, with statutory auditor review completed.
Financial highlights
Q3 FY26 consolidated income: ₹143 Cr (up 14% YoY); EBITDA: ₹51 Cr (up 17% YoY); EBITDA margin: 35.9%; PAT: ₹22 Cr (up 126% YoY).
Nine months FY26 income: ₹398 Cr (up 19% YoY); EBITDA: ₹135 Cr (up 17% YoY); PAT: ₹40 Cr (up 264% YoY).
ARR for Q3 FY26: ₹7,852 (up from ₹6,708 YoY); occupancy at 76.1%; RevPAR: ₹5,973 (up 17% YoY).
EPS for Q3: ₹0.53 (vs ₹0.30 YoY); 9M: ₹1.05 (vs ₹0.31 YoY).
Net cash position as of Dec 31, 2025: ₹132 Cr; net debt/equity improved to -0.1x in 9MFY26 from 5.8x in FY25.
Outlook and guidance
Expect mid- to high-teens growth in both rooms and F&B revenue for the coming quarters, with continued growth from existing hotels, F&B renovations, and ramp-up of new properties.
FY26 outlook remains strong, with healthy demand visibility supported by corporate activity and MICE momentum.
Portfolio expected to nearly double to 3,300 keys by FY30, with ₹3,600 Cr investment and a well-diversified pipeline of nine hotels across luxury and upscale segments.
Latest events from Brigade Hotel Ventures
- Hotel assets transfer awaited approval as construction continued and the period ended with a ₹1.14 lakh loss.BRIGHOTEL
Q4 16/17 - Demerger charges drove a FY18 loss as hotel assets transferred and expansion plans advanced.BRIGHOTEL
Q4 17/18 - Higher income, wider losses and substantial hotel-asset investment marked FY19.BRIGHOTEL
Q4 18/19 - COVID-19 deepened losses, halted hotel operations and clouded FY21 visibility.BRIGHOTEL
Q4 19/20 - COVID-19 drove a sharp FY21 revenue decline, larger losses and uncertain recovery timing.BRIGHOTEL
Q4 20/21 - Revenue rose sharply and losses narrowed, but COVID-19 and leverage risks persisted.BRIGHOTEL
Q4 21/22 - Q2 PAT more than doubled on rate-led growth as expansion advanced and tax litigation remained unresolved.BRIGHOTEL
Q2 26/27 - Q2 FY26 delivered strong revenue and profit growth, with expansion and IPO proceeds supporting outlook.BRIGHOTEL
Q2 25/26 - EBITDA up 15% and PAT up 174% in FY26, driven by strong demand and IPO proceeds.BRIGHOTEL
Q4 25/26