Apeejay Surrendra Park Hotels Ltd. · NSE:PARKHOTELS
Apeejay Surrendra Park Hotels — Q2 FY26 Earnings Presentation
34 slides from Apeejay Surrendra Park Hotels's earnings presentation, Nov 13, 2025
Slide 1: Exchange filing cover letter for investor presentation
Date: November 13, 2025 Listing Manager, BSE Limited National Stock Exchange of India Limited Corporate Relationship Department Exchange Plaza, 5th Floor Plot 1st Floor, New Trading Ring Rotunda Building, No. C-1, Block G, Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Dalal Street, Bandra (E) Mum
Slide 2: Q2 & H1 FY26 Investor Presentation
THE LOTUS PALACE, CHETTINAD Apeejay Surrendra Park Hotels Limited Q2 & H1 FY26 Investor Presentation November 13, 2025
Slide 3: Table of Content
THE PARK, VIZAG TABLE OF CONTENT Q2 &H1 FY26 Results Overview 3 Performance of Flurys 18 Management Comment 10 Consolidated P&L 19 Leadership in market segment 10 Acquisition Plan 20 Operational performance 11 Development Update 22 F&B performance 17 Awards and Accolades 29 22
Slide 4: Q2 & H1 FY26 Highlights & Results
Q2 & H1 FY26 HIGHLIGHTS & RESULTS THE LOTUS PALACE, CHETTINAD 3
Slide 5: Q2 Accelerated Growth Momentum
Q2 ACCELERATED GROWTH MOMENTUM BEST-EVER Q2 IN TERMS OF REVENUE AND PROFIT GROWTH AT OPERATING LEVEL HIGH-TEEN REVENUE GROWTH AND MID TEEN EBITDA GROWTH AT OPERATING LEVEL ACQUISITION OF ZILLION HOTELS, JUHU (MUMBAI) COMPLETED; PROPERTY SCHEDULED TO OPEN BY END-2026 APPROVAL GRANTED BY KMC FOR HOTEL
Slide 6: Global Awards & Recognitions
GLOBAL AWARDS & RECOGNITIONS MICHELIN ONE KEY AWARDED TO RAN BAAS THE PALACE, PATIALA AND FEATURES AMONG THE 36 BEST HOTELS IN INDIA PRIX VERSAILLES FEATURED RAN BAAS THE PALACE, PATIALA IN ITS GLOBAL LIST OF WORLD’S MOST BEAUTIFUL HOTELS FOR ARCHITECTURE AND DESIGN ARCHITECTURAL DIGEST (AD) DECLARE
Slide 7: Operating Results | Q2 FY 2025/26
OPERATING RESULTS | Q2 FY 2025/26 OPERATING OPERATING REVENUE EBIDTA 17% TOPLINE INDIA, HIGHEST ₹ 165 Cr ₹ 49 Cr GROWTH IN Q2, OCCUPANCY OF 17% OVER LY 15% OVER LY THE HIGHEST EVER 93% ROOM REV – F&B REV – OTHER REV OPERATING EBIDTA % ₹ 84 ₹ 71 ₹ 11 30% PBT PAT ₹ 28 Cr ₹ 16 Cr ARR GROWTH OF MARKET L
Slide 8: Q2 Consolidated | FY 2025/26
Q2 CONSOLIDATED | FY 2025/26 ₹ 167 Cr REVENUE 7% over last year HIGEST EVER Q2 INDIA'S HIGHEST TOPLINE, GROWTH OF OCCUPANCY 93% 7% YOY ₹ 50 Cr EBIDTA -13% over last year FLURYS AT 102 OUTLETS MARKET LEADERSHIP ₹ 28 Cr PBT 22% GROWTH IN TOP -28% of last year IN REVPAR IN UPPER LINE UPSCALE SEGMENT ₹
Slide 9: Operating Results | H1 FY 2025/26
OPERATING RESULTS | H1 FY 2025/26 OPERATING OPERATING REVENUE EBIDTA ₹ 320 Cr ₹ 94 Cr 16% OVER LY 15% OVER LY ROOM REV – F&B REV – OTHER REV OPERATING EBIDTA % ₹ 161 ₹ 137 ₹ 22 30% PBT PAT ₹ 51 Cr ₹ 30 Cr -20% OVER LY 19% OVER LY Particulars H1 25/26 H1 24/25 Var % % age of Occupancy * 92% 94% -1.2%
Slide 10: Consolidated H1 FY 2025/26
CONSOLIDATED H1 FY 2025/26 ₹ 323 Cr REVENUE 10% over last year HIGEST EVER H1 INDIA'S HIGHEST TOPLINE, GROWTH OF OCCUPANCY 92% 10% YOY ₹ 98 Cr EBIDTA -2% over last year FLURYS AT 102 OUTLETS MARKET LEADERSHIP ₹ 51 Cr PBT 31% GROWTH IN TOP IN REVPAR IN UPPER -20% of last year LINE UPSCALE SEGMENT ₹ 3
Slide 11: Management Comment
MANAGEMENT COMMENT Commenting on the Q2 & H1 FY26 performance Mr. Vijay Dewan, Managing Director said: “This has been our best-ever second quarter — a period of accelerated momentum and sustained growth. We have achieved strong high teen revenue expansion and mid-teen EBITDA growth, reaffirming the
Slide 12: Leadership in Occupancy Across Key Cities – H1 FY 2025/26
LEADERSHIP IN OCCUPANCY ACROSS KEY CITIES – H1 FY 2025/26 97% 100% 90% 93% 92% 86% 85% 79% 82% 79% 75% 76% 78% 74% 73% 69% 65% 58% New Delhi Chennai Kolkata Hyderabad Bengaluru Goa Navi Mumbai Vizag Indore Industry ASPHL The Park brand enjoys close to 30% occupancy premium across all segments. Sourc
Slide 13: RevPAR Outperformance Across Key Cities – H1 FY 2025/26
RevPAR OUTPERFORMANCE ACROSS KEY CITIES – H1 FY 2025/26 7430 7484 7236 7050 6381 6348 6186 6407 5541 5537 5786 5377 4699 4780 4444 4003 3919 3061 New Delhi Chennai Kolkata Hyderabad Bengaluru Goa Navi Vizag Indore Mumbai Industry ASPHL Source: STR Note: Company data for Occupancy, ARR & RevPAR perta
Slide 14: ARR Outperformance Across Key Cities – H1 FY 2025/26
ARR OUTPERFORMANCE ACROSS KEY CITIES – H1 FY 2025/26 Source: STR Note: Company data for Occupancy, ARR & RevPAR pertains exclusively to The Park brand hotels; Figures as of H1 FY26 13
Slide 15: Key Operational Performance – Q2 & H1 FY26
KEY OPERATIONAL PERFORMANCE – Q2 & H1 FY26 In Rs. Cr. Revenue from Operations Operating EBITDA Margins 320 277 30.1% 29.6% 29.6% 29.5% 165 142 94 82 43 49 Q2 FY25 Q2 FY26 H1 FY25 H1 FY26 Q2 FY25 Q2 FY26 H1 FY25 H1 FY26 Shift (%) YoY: 16.8% YoY: 15.5% Shift (%) YoY: 14.9% YoY: 15.3% PAT Margi
Slide 16: Operational Performance – Q2 & H1 FY26
OPERATIONAL PERFORMANCE – Q2 & H1 FY26 Occupancy (%) Average Room Rate (Rs.) 93% 93% 94% 92% 7,788 7,563 6,888 6,680 Q2 FY25 Q2 FY26 H1 FY25 H1 FY26 Q2 FY25 Q2 FY26 H1 FY25 H1 FY26 Shift (%) YoY: 13.1% YoY: 13.2% RevPAR (Rs.) 7,204 6,979 6,440 6,247 Q2 FY25 Q2 FY26 H1 FY25 H1 FY26 Shift (%) YoY:
Slide 17: Indian Hotel Sector Performance – Q2 FY 2025/26
INDIAN HOTEL SECTOR PERFORMANCE – Q2 FY 2025/26 Q2 FY 2025 DOMESTIC AIR ARR TREND TRAFFIC MOVEMENT Markets ARR change over Q2 FY2025 Total Domestic INDIAN MARKET OWNED HOTELS Air Traffic 110.7 Mn ARR 7,500 - 7,700 5–7% New Delhi 7 – 9% 11% (Jan 25-Aug 25) Mumbai 1 – 3% 17% Change Over Bengaluru 15 –
Slide 18: F&B Segment
F&B SEGMENT F&B to Total Revenue (%)(1) 43% 42% 38% 40% Q2 FY25 Q2 FY26 H1 FY25 H1 FY26 Strong food & beverage performance providing stability to earnings. F&B revenue stood at Rs. 71 Cr. in Q2 FY26 Note 1: Includes Revenue from Flurys 17
Slide 19: Performance of Retail F&B Brand
PERFORMANCE OF RETAIL F&B BRAND Asset light business model provides with diversification, resiliency and scalability PLAN FOR FY 2025 - 26 5 in New Delhi 100 102 2 in Hyderabad 6 in Mumbai 30New 77 6 in Kolkata 69 49 2 in Siliguri 59 51 52 1 in Darjeeling / Kurseong 43 44 32 38 10 13 1 in Gangtok 25
Slide 20: Consolidated P&L Statement & Net Debt Movement
CONSOLIDATED P&L STATEMENT & NET DEBT MOVEMENT Y-o-Y QoQ H1 H1 Y-o-Y Q2 FY26 Q2 FY25 Q1 FY26 Change (%) Change (%) FY26 FY25 Change (%) Operational Revenue 165 142 16.8% 154 7.2% 320 277 15.5% NET WORTH – 1,305.47 Cr Other Income 1 15 -91.9% 2 -47.4% 3 18 -80.6% Total Revenue 167 156 6.6% 157 6.4% 3
Slide 21: Acquisitions
ACQUISITIONS VISTA, THE PARK – VIZAG 20
Slide 22: Strategic Acquisitions
STRATEGIC ACQUISITIONS MALABAR HOUSE FORT KOCHI ZILLION HOTELS & RESORTS PVT LTD & PURITY AT LAKE VEMBANAD Location – Juhu, Mumbai No of rooms – 80 No of rooms – 31 Cost of Acquisition - ₹ 206.5 Cr Cost of Acquisition - ₹ 64 Cr Acquisition – Completed Agreement – November 2025 Launch – End of 2026 L
Slide 23: Development Update
THE LOTUS PALACE - CHETTINAD DEVELOPMENT UPDATE 22
Slide 24: Development Update - Hotels
DEVELOPMENT UPDATE - HOTELS OPERATIONAL keys OWNED 1.101 MANAGED 1,041 LEASED 294 New Delhi UNDER DEVELOPMENT Indore Kolkata keys Navi Mumbai Hyderabad Vizag OWNED 1,011 MANAGED 2,193 LEASED 147 Bangalore Chennai TOTAL FY 2030 keys 23
Slide 25: Development Update - Hotels
DEVELOPMENT UPDATE - HOTELS 14 HOTELS 588 KEYS DARJEELING– 50 MANALI – 24 GOA – 9 LUCKNOW– 100 KATRA – 40 SIMLA– 24 GANGTOK – 39 DHARAMSALA – 48 VIZAG – 52 GOA – 42 GANGTOK – 30 DEHRADUN - 54 KOLKATA - 45 KOCHI - 31 73 Keys 102 Keys 70 Keys 100 Keys 243 Keys 24
Slide 26: E M Bypass Kolkata
E M Bypass Kolkata Picture for representation ⚫ No of Apartments - 100 ⚫ No of Hotel Rooms - 250 ⚫ Authority approval received on proposed design scheme. ⚫ Approvals obtained for road, fire, DFO, airport authority, water, sewage & drainage, fire & KMDA(KIT). ⚫ KMC building approval granted as per sc
Slide 27: Upcoming - Pune
Upcoming - Pune Picture for representation ⚫ No of Rooms - 200 ⚫ Property card (7/12) received ⚫ IOD submission drawings are in progress ⚫ Environmental Clearance application is in process. ⚫ Core & Shell tenders floated, and negotiation is in progress. ⚫ Model Room drawings are in progress. ⚫ Site
Slide 28: Upcoming - Vizag
Upcoming - Vizag Picture for representation ⚫ No of Rooms - 100 ⚫ Sanction drawings are in progress. ⚫ Tender level drawings received from Architect. ⚫ Core & Shell tenders floated, and cost proposal received from civil contracting companies. ⚫ CRZ (Coastal Regulation Zone) Permission has been obtai
Slide 29: Upcoming - Navi Mumbai
Upcoming - Navi Mumbai Picture for representation ⚫ No of Rooms - 250 ⚫ Schematic Design drawings are in progress ⚫ Preparation of Sanction drawings will start post approval on Schematic Design. ⚫ Major Design consultants are appointed. ⚫ Project launch - 2027 Estimated Completion of Hotel – March 2
Slide 30: Awards & Accolades
RAN BAAS THE PALACE, PATIALA AWARDS & ACCOLADES 29
Slide 31: Awards & Accolades – Q2
AWARDS & ACCOLADES – Q2 Architectural Digest recognised Ran Baas, Prix Versailles featured Ran Baas, The Ran Baas, The Palace was awarded with AHEAD Asia Awards recognised Ran Baas, Travel + Leisure featured THE Lotus The Palace in its global list of 2025 Great Palace in its global list of World One
Slide 32: About Us
About Us Apeejay Surrendra Park Hotels Limited (ASPHL) is a leading player in the hospitality sector renowned for its upscale properties and diverse F&B offerings. Since its For more information about us, please visit inception in 1967, with the opening of its first property in Kolkata under the www
Slide 33: Disclaimer
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Apeejay Surrendra Park Hotels Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any sec
Slide 34: Thank You
THE PARK, BANGALORE, Thank You
Apeejay Surrendra Park Hotels — Q2 FY26 Earnings Presentation on 6ix