Samhi Hotels Limited · NSE:SAMHI
Samhi Hotels — Q4 FY2026 Earnings Presentation
57 slides from Samhi Hotels's earnings presentation, May 21, 2026
Slide 1: Investor Presentation for Quarter 4 FY26 cover letter
SAMHI Hotels Ltd. CIN: L55101DL2010PLC211816 21st May 2026 Regd. & Corp. Office: 5th Floor, Unit No. Office - 11, Worldmark 4, Asset Area No. LP-1B-04, BSE Limited National Stock Exchange of India Gateway District, Delhi Aerocity, Corporate Relationship Department Limited Near Indira Gandhi Internat
Slide 2: Investor Presentation Q4 FY2026
Upcoming W Hyderabad www.samhi.co.in Investor Presentation Q4 FY2026
Slide 3: Important notes on the presentation format
www.samhi.co.in Important notes on the presentation format • We are now uploading a detailed Excel file containing all supporting data for your convenience on our website https://samhi.co.in/investor- relations/ • To avoid any ambiguity, we have streamlined our EBITDA representations by reporting on
Slide 4: From the CEO's Desk
www.samhi.co.in From the Dear Shareholders, FY2026 was a year of tangible outperformance amid real headwinds – and I am pleased to share our progress with you. Financial performance : Income grew +12.3% year-on-year, ahead of our guided 9-11% range. On a like-for-like basis, EBITDA CEO’s Desk growth
Slide 5: SAMHI Hotels
SAMHI Hotels www.samhi.co.in #Hotel / #Rooms % of Total Rooms 38 hotels Upper Upscale & 10 / 2,1821 3 Upscale 34% Under development (inc. 5 / 1,059 under development) 6,500+ rooms3 15 / 2,3972 12 brands 14 cities Upper Mid-scale 36% We are the largest owner of multi- (inc. 1 / 350 branded hotel room
Slide 6: What sets us apart
www.samhi.co.in What sets us apart 01 02 03 04 Ability to work Acquisition & Dominant share Analytical with institutional turnaround with leading approach capital experience operators Raised capital from various Demonstrated track record in One of the largest owners of Data backed asset best-in-clas
Slide 7: Financial Performance
www.samhi.co.in Financial Performance Upcoming Westin, Bangalore Whitefield
Slide 8: Hits and misses: FY 2026
www.samhi.co.in Hits and misses: FY 2026 Hits Misses & headwinds • Income growth of +12.3% YoY • Multiple business disruption throughout FY2026 Consolidated EBITDA growth of +8.8%; removing the GST impact EBITDA growth was Q4 most impacted; Consol. EBITDA -6.0% YoY (+1.9% YoY w/o GST) for a healthy
Slide 9: FY2026 at a glance
www.samhi.co.in FY2026 at a glance Total Income Consol. EBITDA PAT Free Cash Flow ₹12,790mn ₹4,626mn ₹5,665mn1 ~₹3,000mn +12.3% YoY +8.8% YoY +562.6% YoY Effective Int @ 7.9% ₹1,650mn PBT (before Exp); +89.3% Potential ~16–17% ex-disruptions +13.0% YoY excl. GST impact Vs. ~₹900mn post IPO (Sep 2023
Slide 10: Strong growth delivered through a year of disruptions
www.samhi.co.in Strong growth delivered through a year of disruptions INCOME LOSS Reported FY26 YoY ₹440–520mn Potential FY26 YoY Income Growth across 4 one-time disruption events Income Growth +12.3% Business Disruption Events May’26 India–Pakistan conflict Estimated Revenue Loss ₹80–100mn +16-17%
Slide 11: Capital allocation to create value
www.samhi.co.in Capital allocation to create value ₹9.6bn proceeds from asset sale & ~₹6.5bn used for debt reduction; primary infusion in subsidiaries balance part funded new acquisitions ASSET MONETIZATION Key city Micro-market Brand Rooms Announced ₹2,100mn at ~20x avg. EV-to-EBITDA Bangalore Whit
Slide 12: Balance Sheet continues to strengthen
Sep 30, Mar 31, Sep 30, Mar 31, www.samhi.co.in 2023 2025 2025 2026 Balance Credit Rating BBB A− A+ A+ Sheet Net Debt (₹ mn) 17,974 19,669 13,700 14,507 continues to TTM EBITDA1 (₹ mn) 3,398 4,434 4,7025 4,7215 strengthen 8 Net Debt-to- 11.5% 10.8% EBITDA 7 10.5% 6 9.2% 9.5% 5 8.5% 7.9% 3 4 8.5% 3 5
Slide 13: Q4 FY2026 at a glance
www.samhi.co.in Q4 FY2026 at a glance Total Income Consol. EBITDA Same-store RevPAR PAT ₹3,535mn ₹1,202mn ₹6,041 ₹3,994mn +9.3% YoY -6.0% YoY +4.1% YoY +770.8% YoY Includes Deferred Tax Income of +6.4% YoY same-store growth Includes impact as per analysis below Mar’26 disruption adversely impacted Q
Slide 14: Financial Summary
www.samhi.co.in Financial Total Income Q4FY26 3,535 Q4FY25 3,234 YoY % +9.3% FY26 12,790 FY25 11,386 YoY % +12.3% Summary Consolidated EBITDA 1,202 1,278 -6.0% 4,626 4,251 +8.8% EBITDA Margin 34.0% 39.5% 36.2% 37.3% (Consolidated P&L) Depreciation & Amortization (382) (287) (1,267) (1,157) Finance c
Slide 15: Financial Summary (Consolidated Balance sheet)
www.samhi.co.in Financial Fixed Assets Mar’26 29,526 Mar’25 26,702 Notes Summary Majorly includes CWIP for ongoing 22 apartments in Hyatt CWIP 1,394 954 Regency Pune, construction of W, Hyderabad and Trinity rebranding Goodwill 5,218 5,218 (Consolidated Cash & Cash Equivalents 2,611 1,602 Increase i
Slide 16: Every incremental EBITDA now flows to free cash
www.samhi.co.in Every incremental EBITDA now flows to free cash Lower debt, reduced interest rates and strong EBITDA growth to lead to materially higher future free cash flows to fund growth pipeline, accelerate growth while maintaining a strong balance sheet At IPO (TTM Sep ‘23) FY 2026 FY 2027 & B
Slide 17: Capital allocation to drive shareholder returns
www.samhi.co.in Capital allocation to drive shareholder returns FREE CASH GENERATION CAPITTAL RECYCLING CAPITAL ALLOCATION DELEVERAGING ~₹3,150mn1 ~₹9,600mn ~2.5x Net Debt-to-EBITDA target in medium-to-long term FY 2026 run-rate Unlocked through asset recycling since IPO – a Basis current gross debt
Slide 18: Big boxes to transform P&L; Leisure to provide adjacent business
www.samhi.co.in Big boxes to transform P&L; Leisure to provide W, Hyderabad 170 rooms, Opening Q4 FY27 Current Revenue: Nil Westin & Tribute, Bangalore 362 rooms, Opening FY29-30 Current Revenue: ~₹290mn Mid-scale Hotel, Hyderabad 260 rooms, Opening FY29-30 Current Revenue: Nil adjacent business Pot
Slide 19: Macro Dynamics
www.samhi.co.in Macro Dynamics Upcoming Westin & Fairfield by Marriott, Navi Mumbai
Slide 20: Robust commercial activity across key markets
www.samhi.co.in Robust commercial activity across key markets Office market size1 (mn sq. ft.) Net Absorption2 Q4FY25 FY25 Q4FY26 FY26 Total of Total of Total of Total of Current Upcoming ~13 mn sqft ~51 mn sqft ~11 mn sqft ~58 mn sqft Bangalore 238 35 2.5 13.1 3.4 15.3 Hyderabad 143 50 1.8 8.4 2.2
Slide 21: Air Passenger Trend in Q4
www.samhi.co.in Air Passenger Trend in Q4 Travel disruptions during Q4 had significant impact on Full year airline passenger data QoQ airline passenger growth (in mn)1 FY26 change over FY25 6.9% 6.2% +1% YoY 4.5% 77 77 79 78 2.9% 75 2.7% 70 71 72 71 70 66 67 65 1.4% 63 53 53 -0.7% -3.3% -3.4% Kolkat
Slide 22: Performance Summary
www.samhi.co.in Performance Summary Upcoming W, Hyderabad
Slide 23: RevPARs continue upward trend
www.samhi.co.in RevPARs continue upward trend Revenue Contribution of Segment wise RevPAR growth 3 +4.1% (for Q4 FY26 YoY) the Segment (Q4 FY26) YoY Upper 43% 6,041 Upscale 4.1% 5,958 & Upscale 6,000 5,643 Upper 41% Mid-scale 5.5% 5,500 16% 5,088 5,026 5,000 4,830 Mid-scale 1.3% 4,760 4,529 4,500 4,
Slide 24: City wise RevPAR
www.samhi.co.in City wise FY25 % change YoY basis FY26 RevPAR +13% RevPAR decline reflects 7,089 temporary impact from Hyatt +9% 6,745 Place GGN banquet renovation and out-of-order 6,290 rooms, reducing occupancy 6,163 during FY26 +12% 5,160 4,833 -9% 4,603 +10% 4,391 4,353 +17% 3,946 +3% 3,795 3,61
Slide 25: Sustained Revenue and EBITDA Growth
www.samhi.co.in Sustained Revenue and EBITDA Growth FY20255 FY2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 RevPAR Trend +4.1% Total Income 2,568 2,705 2,987 3,236 2,873 2,963 3,419 3,535 YoY YoY growth 33.5% 21.2% 9.3% 11.6% 13.0% 11.0% 16.2% 9.3% Consol. EBITDA 890 972 1,132 1,263 1,0563 1,105 1,2636 1,2026 YoY gr
Slide 26: Segment Performance
www.samhi.co.in Segment Performance Stable: Y-o-Y change of +/-200bps; Upward: Y-o-Y increase of between 200 – 700bps; Strong Upwards: Y-o-Y increase of more than 700bps; Downward: Y-o-Y decrease of between 200 – 700bps; and Strong Downwards: Y-o-Y decrease of more than 700bps Upper Upscale & Upscal
Slide 27: Revenue share by segment
www.samhi.co.in Revenue share by segment Upper Upscale & Upscale Upper Mid-scale Mid-scale 15% 16% 43% 25% 60% 41% On-going rebranding/ renovations to increase Upscale Upon Completion Q4FY26 of Committed Projects share of revenues from ~43% to ~60% Page 26
Slide 28: Total Income bridge
www.samhi.co.in Total Income bridge Q4FY26 Total Income Bridge FY26 Total Income Bridge +8.1% +9.3% +11.3% +12.3% YoY YoY YoY 81 YoY 291 78 (14) 359 (134) 197 1,041 +6.4% +9.5% YoY YoY 3,454 3,535 12,499 12,790 3,194 11,232 Q4 FY25 Growth in Growth Loss due to Q4 FY26 Corporate Q4 FY26 FY25 Growth i
Slide 29: Consol. EBITDA bridge
www.samhi.co.in Consol. EBITDA bridge Q4FY26 Consol. EBITDA Bridge FY26 Consol. EBITDA Bridge -2.6% YoY -8.9% +8.6% (50) 18 (4) -6.0% YoY +5.3% (88) YoY (47) +8.8% -3.7% YoY 79 (155) YoY YoY (60) 363 (193) YoY (Includes GST impact of ₹13mn) +7.9% (Includes GST impact of ₹22mn) YoY 1,385 1,349 1,262
Slide 30: Operational Efficiency
www.samhi.co.in Operational Efficiency Q4FY26 Bridge from Total Asset Income to Consol. EBITDA (538) (15.6%) (421) Operating expenses include a total of ~₹88mn of GST impact (12.2%) spread across most cost heads (729) 36.5% 34.0% 3,454 (21.2%) (187) Asset EBITDA Consol. EBITDA (5.4%) (144) (59) Marg
Slide 31: Growth Projects
www.samhi.co.in Growth Projects Renaissance, Ahmedabad (ADD) Fairfield Hyderabad All Day Dining
Slide 32: Projects completed in FY26
www.samhi.co.in Projects completed in FY26 Renovation of Room Suites Renovation of Ballroom in Sheraton, Hyderabad New 42 service apartments in & Function Room in Hyatt Place, Gurgaon Sheraton, Hyderabad Additon of 56 Rooms in New 22 service apartments in Holiday Inn Express, Whitefield, Bangalore H
Slide 33: Internal growth projects to accelerate future growth
www.samhi.co.in Internal growth 4,899 current operational rooms projects to accelerate Rebranding of 473 rooms and addition of 1,647 future growth rooms through combination of expansion and new opening to aid revenue expansion # Hotel Segment Growth Project Status FY26 FY27 FY28 FY29 FY30+ 1 Holiday
Slide 34: Partnership with Ingka Centres in Noida
www.samhi.co.in Partnership with Ingka Centres in Noida Strategic partnership with Ingka Centres Impact On Portfolio Strengthens SAMHI’s presence in Delhi NCR through a high-quality upscale (Part of Ingka Group which also owns IKEA asset, reinforcing its capital-efficient lease-led growth strategy a
Slide 35: One Financial District, Hyderabad
www.samhi.co.in One Financial District, Hyderabad ~260 rooms1 in a prime mixed-use development within Financial District Located in close proximity to large tech campuses with strong connectivity via Outer Ring Road Variable lease structure allowing for capital efficiency and greater risk- adjusted
Slide 36: SAMHI's largest hotel under development in Navi Mumbai
www.samhi.co.in SAMHI’s largest hotel under development in Navi Mumbai 700 rooms1 combo-hotel ~350 room Westin & ~350 room Fairfield by Marriott One of the largest hotel development in the micro-market On the main arterial road and in close proximity to the new airport Potential revenue of ~₹3,250mn
Slide 37: New Hotel Expansion at Sriperumbudur
www.samhi.co.in New Hotel Expansion at Sriperumbudur A ~135 room “Marriott” • Current asset with 153 room under Fairfield branding has already achieved an asset level RoCE of more than 30% branded* hotel to be • Micro-market has strong and stable industrial demand, which has been consistently perfor
Slide 38: W HITEC City, Hyderabad
W www.samhi.co.in HITEC City, Hyderabad (170 rooms1) An iconic brand in one of India’s largest commercial districts under development Artist impression, actual may vary Current Status: • Design development is at final stage • Guest-room ID (hard- finishes) commenced • Mock-up rooms completed, under
Slide 39: Strong product in a resilient market to allow high ARR performance
Strong product in a resilient market www.samhi.co.in to allow high ARR performance W HITEC City, Hyderabad (170 rooms) New Development Artist impression, actual may vary Page 38
Slide 40: Westin & Tribute Portfolio
www.samhi.co.in Westin & Tribute Portfolio Whitefield, Bangalore (142 rooms renovation & 220 new rooms) Under Renovation & Development Pagemay Artist impression, actual 39vary
Slide 41: Westin & Tribute Portfolio
www.samhi.co.in Westin & Tribute Portfolio Whitefield, Bangalore (142 rooms renovation & 220 new rooms) Under Renovation & Development Commencement of construction Page 40
Slide 42: RARE India: capital-efficient leisure entry, with Marriott Bonvoy distribution overlay
www.samhi.co.in RARE India: capital-efficient leisure entry, with Marriott Bonvoy distribution overlay Hotels Rooms Indian states Other countries 73 ~1,015 15 3 WHY HOW ECONOMICS Diversification Distribution via Asset-light / beyond business Marriott Bonvoy platform-style hotels • Experiential leisu
Slide 43: About Us
www.samhi.co.in About Us Renaissance, Ahmedabad (Lobby) Renaissance Ahmedabad Lobby
Slide 44: Acquisition led strategy has delivered scale
www.samhi.co.in Acquisition led strategy has 12,790 delivered scale 11,497 • Short capex to revenue cycle due to 9,787 acquisition led approach Consol Revenue • Discount to replacement cost for long term 22% CAGR (10 yrs.) 1 returns 7,615 • Long term variable leases to use capital more 6,276 efficie
Slide 45: Diversified portfolio across travel occasions
www.samhi.co.in Diversified portfolio across travel occasions: from business stays to curated leisure experiences Asset Light Model Leisure Business Asset Portfolio Portfolio1 Mid-scale Upper Mid-scale Upper Upscale & Upscale LeisurePortfolio Unique portfolio of assets with a Bridge to high-end hote
Slide 46: Upper Upscale & Upscale Development
www.samhi.co.in Upper Upscale & Upscale Operating 5 Hotels +8 under development 1,123 Rooms (+1,059 under development and 473 under rebranding1) WESTIN ₹1,479mn Revenue HOTELS & RESORTS (Q4FY26) Development TRIBUTE PORTFOLIO W Under HOTELS Bangalore Hyderabad TRIBUTE PORTFOLIO Marriott Pune Jaipur S
Slide 47: Upper Mid-scale
www.samhi.co.in Upper Mid-scale 14 Hotels +1 under development 2,047 Rooms (+3501 under development2; 2,047 operating rooms inc. 473 under rebranding2) ₹1,419mn Revenue (Q4FY26) 1. Previously reported 473 under-development rooms included 86 rooms of Fairfield, Srip. Chennai. These have been moved to
Slide 48: Mid-scale
www.samhi.co.in Mid-scale 12 Hotels +1 under development 1,729 Rooms (+260 under development1) ₹555mn Revenue (Q4FY26) 1. Based on final segment, brand and plan room count of under development/ rebranding rooms may vary Page 47
Slide 49: Leisure Portfolio Asset Light Model
www.samhi.co.in Leisure Portfolio Asset Light Model 73 Hotels 1,015 Rooms (No contribution in revenue, since the deal is under transition) ₹36mn Revenue (FY26) Page 48
Slide 50: Dominant share with leading operators
www.samhi.co.in Dominant share with leading operators Upcoming Brands Marriott Our hotels operate under some of the most 2,291 66% W WESTIN TRIBUTE HOTELS HOTELS & RESORTS PORTFOLIO well recognized global hotel brands IHG Hyatt 608 555 18% 16% This gives us access to loyalty programs, Recent Additio
Slide 51: Team that built the business
www.samhi.co.in Team that built the business 13+ yrs 14+ yrs 15+ yrs 9+ yrs In SAMHI In SAMHI In SAMHI In SAMHI Sanjay Jain Gyana Das Ashish Jakhanwala Rajat Mehra Senior Director, Corporate Affairs, Tanya Chakravarty EVP – Corporate Strategy & Chairman, MD & CEO CFO Company Secretary and General Co
Slide 52: Strong governance with highly experienced board members
www.samhi.co.in Strong governance with highly experienced board members Ashish Manav Thadani Ajish Abraham Michael David Aditya Jain Archana Capoor Krishan Dhawan Jakhanwala Non-Executive & Jacob Holland Independent Independent Independent Chairman, Non- Independent Non-Executive & Independent Direc
Slide 53: Historical Consolidated P&L Summary
www.samhi.co.in Historical Consolidated P&L Summary Total Income (₹mn) Consolidated EBITDA (₹mn) PAT (₹mn) 12,790 11,497 9,787 7,614 5,665 6,276 4,626 4,257 2,879 2,606 3,331 1,720 1,793 855 218 -597 (2,346) (2,999) (3,386) (4,433) (4,777) FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY20 FY21 FY22 FY23 FY24
Slide 54: Historical Consolidated Quarterly P&L Summary
www.samhi.co.in Historical Consolidated Quarterly P&L Summary Total Income (₹mn) Consolidated EBITDA (₹mn) PAT (₹mn) 3,535 3,994 3,419 3,236 2,987 2,963 2,899 2,873 2,733 2,705 2,568 2,232 1,924 1,263 1,263 1,202 1,132 1,056 1,105 962 972 904 890 998 540 473 459 481 228 192 113 126 42 (744) (835) (8
Slide 55: Glossary
www.samhi.co.in Glossary Operating Addition/ # Hotel Brand City Location Operator Segment Total Rooms Renovation TM 1 Hyatt Regency Pune Nagar Road Hyatt Upper Upscale & Upscale 301 22 323 2 Renaissance Ahmedabad SG Highway Marriott Upper Upscale & Upscale 155 - 155 3 Sheraton Hyderabad Gachibowli M
Slide 56: Disclaimer
www.samhi.co.in Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by SAMHI Hotels Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe f
Slide 57: Thank You
Company Thank SAMHI Hotels Ltd. CIN: L55101DL2010PLC211816 Mr. Gyana Das Executive Vice President & Head of Investments compliance@samhi.co.in www.samhi.co.in Investor Relations Advisors Strategic Growth Advisors Pvt. Ltd. CIN: U74140MH2010PTC204285 Mr. Rahul Agarwal/ Ms. Prachi Sharma +91- 98214388