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Q2 FY26
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H1 FY26
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New Delhi, 29th October 2025: SAMHI Hotels Limited, a prominent branded hotel ownership and asset management platform in India, announced its unaudited Standalone and Consolidated results for the quarter and half year ended 30th September 2025.
Business Update: SAMHI accelerates growth with two landmark developments
- Landmark dual-branded hotel to be developed near the Navi Mumbai International Airport and DY Patil Stadium with ~400 rooms in Phase I, with the potential to expand to ~700 rooms upon full development. Proposed to be operated under Westin and Fairfield by Marriott brands (subject to execution of definitive agreements).
- Signed an Agreement to Lease for a ~260-room Mid-scale hotel to be developed as part of a mixed-use project in Hyderabad’s Financial District.
Key Highlights for Q2FY26:
- RevPAR1 at Rs. 5,026 up 11.2% YoY.
- Occupancy stood at 75% for Q2FY26.
- Total Income for the quarter was Rs. 2,963 Mn up 11.0% YoY.
- EBITDA for the quarter was Rs. 1,105 Mn up 14.2% YoY.
- PAT2 stood at Rs. 998 Mn up 691.1% YoY.
- Exceptional Item includes:
- Reversal of impairment (Navi Mumbai land) – Rs. 696 Mn
- Gain on sale of Caspia, Delhi which was recognized under “discontinued operations" – Rs. 145 Mn
- Credit rating upgraded to A+ stable by CARE
Key Highlights for H1FY26:
- RevPAR1 up 10.8% YoY.
- Occupancy stood at 75% for H1FY26.
- Total Income for the half year was Rs. 5,836 Mn up 12.0% YoY.
- EBITDA for the half year was Rs. 2,161 Mn up 16.3% YoY.
- PAT2 stood at Rs. 1,190 Mn up 606.3% YoY.
Consolidated Financial Highlights:
In Rs. Mn | Q2FY26 | Q2FY25 | YoY% | H1FY26 | H1FY25 | YoY% |
Total Income | 2,963 | 2,669 | +11.0% | 5,836 | 5,211 | +12.0% |
Consolidated EBITDA | 1,105 | 967 | +14.2% | 2,161 | 1,858 | +16.3% |
EBITDA Margin% | 37.3% | 36.2% | 37.0% | 35.7% | ||
PBT (before exceptional items) | 382 | 137 | +179.2% | 641 | 192 | +233.3% |
Exceptional Items | 841 | - | 841 | - | ||
Profit/ (Loss) from discontinued operations | (26) | (15) | (55) | (35) | ||
PBT | 1,197 | 122 | 1,427 | 157 | ||
PAT2 | 998 | 126 | +691.1% | 1,190 | 168 | +606.3% |
Attributable to SAMHI | 924 | 126 | 1,097 | 168 | ||
Attributable to Minority Interest | 74 | - | 93 | - |
1 Based on same store, i.e., excludes the Four Points by Sheraton, Chennai OMR sold in Feb’25, Trinity acquired in Oct’24, Caspia Delhi sold in Aug’25, HIEX Greater Noida (reopened in Dec’24), HIEX Kolkata (opened in May’25) and Sheraton Commercial
2 Includes ₹696mn of reversal of Navi Mumbai land impairment, less ₹125mn of deferred tax; net impact of ₹571mn
Debt Profile:
In Rs. Mn | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 |
Net Debt | 13,700 | 14,345 | 19,669 |
TTM EBITDA1 | 4,7024 | 4,574 | 4,434 |
Net Debt : EBITDA | 2.9x | 3.1x | 4.4x |
Interest Rate | 8.5%2 | 8.6% | 9.2% |
Annualised Interest Cost3 | 1,250 | 1,400 | 1,900 |
1 Excluding ESOP & One-time Expenses
2 As on 13th October 2025
3 Does not include non-cash finance cost items such as interest on lease, EIR, etc. which are charged to P&L
4 Excludes Caspia Delhi EBITDA on TTM basis
Commenting on the performance, Mr. Ashish Jakhanwala, Chairman & Managing Director, SAMHI Hotels Ltd. said,
“We are pleased to announce results for the period ending 30th September 2025 along with news of the landmark development in Navi Mumbai.
During the quarter total revenue growth was ~11.0% with a consol. EBITDA growth of 14.2% over same period last year. With continued growth in EBITDA and reduction in finance cost, we witnessed ~2.8x growth in PBT for the quarter. Accounting for the reinstatement of Navi Mumbai, we are very pleased to report a PAT of ~₹998mn for the quarter. For the first half of FY2026, total revenue growth was 12.0% and EBITDA growth of 16.3% over same period last year. This sets a very strong base for the remaining part of FY2026 and for FY2027.
We are very excited about the Navi Mumbai development. This project will redefine, both Navi Mumbai’s skyline and SAMHI’s future with potential to create a 700-room dual branded hotel. We are happy to contribute to the state’s commitment to make Navi Mumbai a world class city.
During the quarter, we also signed a long-term variable lease for a large midscale hotel in heart of Financial District in Hyderabad, allowing us to secure an impactful share of the market that continues to outperform.
We made good progress on on-going growth projects. By end of December 2025, we would have added about 8% inventory to our portfolio in current year, which will aide performance in Q4-FY2026 and FY2027. Work on the W-Hyderabad, Westin Bengaluru and other initiatives continue as planned.
With all these growth initiatives, same-store growth continuing in range of our forecast (~9%-11% CAGR) and strong free cash from operations, we are confident of SAMHI’s growth and the value it will create for our shareholders.”