• RevPAR up 9.5% YoY
  • Total Income up 12.3% YoY, despite multiple business headwinds
  • Consolidated EBITDA up 8.8% YoY, despite GST related challenges
  • PAT Rs. 5,665 Mn, up 5.6x YoY

New Delhi : SAMHI Hotels Limited (BSE: 543984) (NSE: SAMHI) a prominent branded hotel ownership and asset management platform in India, announced its audited Standalone and Consolidated results for the quarter and year ended 31st March 2026.

Key Highlights for Q4 FY26:

  • RevPAR at Rs. 6,041 up 4.1% YoY despite the impact of geopolitical disruptions in March
  • Occupancy stood at 75%
  • Total Income for the quarter was Rs. 3,535 Mn up 9.3% YoY
  • Reported EBITDA2 for the quarter was Rs. 1,202 Mn down 6.0% YoY. On a like to like basis, EBITDA growth of 16.8% (excluding GST, FF&E expenses and Middle East impact)
  • Exceptional Item includes one-time impact of Rs. 245 Mn due to implementation of New Labor Codes and Reversal of impairment of PPE & Intangibles
  • Deferred tax asset of ~₹3,000mn recognized in FY26 based on improved financial performance and strengthened earnings visibility
  • PAT1 stood at Rs. 3,994 Mn up 7.7x YoY

Key Highlights for FY26:

  • RevPAR at Rs. 5,365 up 9.5% YoY
  • Occupancy stood at 74%
  • Total Income for the period was Rs. 12,790 Mn up 12.3% YoY
  • Reported EBITDA2 for the period was Rs. 4,626 Mn up 8.8% YoY, despite GST related challenges. On a like to like basis, EBITDA growth of 13.0% (excluding GST)
  • Exceptional Item includes one-time impact of Rs. 1,075 Mn due to implementation of New Labor Codes, Reversal of impairment of PPE, ROU & Intangibles and Gain on sale of Caspia Delhi
  • PAT1 stood at Rs. 5,665 Mn up 5.6x YoY

Consolidated Financial Highlights:

In Rs. MnQ4FY26Q4FY25YoY%FY26FY25YoY%
Total Income3,5353,2349.30%12,79011,38612.30%
Consolidated EBITDA12,0221,278-6.00%46,2624,2518.80%
EBITDA Margin%34.00%39.50% 36.20%37.30% 
PBT (before exceptional items)447452-0.90%1,65087289.30%
Exceptional Items245-194 1075-194 
Profit/ (Loss) from discontinued operations–-32 -51-71 
PBT692226206.80%2,671607340.20%
PAT13,994459770.80%5,665855562.60%
Attributable to SAMHI3,537459 5,030855 
Attributable to Minority Interest 457– 636– 

1 Q4FY26 PAT includes exceptional items of ~₹245mn and deferred tax asset creation of ~₹3,000mn. FY26 PAT includes exceptional items of ~₹1,075mn and deferred tax asset creation of ~₹3,000mn

2 EBITDA reported post GST change implementation

*Please note that all figures for Q4FY26, Q4FY25, FY26, and FY25 have been adjusted for Caspia Delhi as the asset has been recognized under “discontinued operation”

Debt Profile:

In Rs. MnMar 31, 2026Sep 30, 2025Mar 31, 2025
Net Debt14,50713,70019,669
TTM EBITDA147,21547,0254,434
Net Debt: EBITDA3.1x2.9x4.4x
Interest Rate7.9%38.50%9.20%
Net Annualised Interest Run Rate4~1,2701,2501,900

1. Excluding ESOP & One-time Expenses

2. Capital allocated towards W (HITEC Hyd.), Westin Bglr., HRP Apartments, Sheraton Rooms & Apartments, HIEX (Wht. Bglr.) and other capital expenditure during FY26

3. As on 19th May 2026. Please note that the interest rate includes the upfront fee which is amortized over the estimated repayment period

4. Does not include non-cash finance cost items such as interest on lease, EIR, etc. which are charged to P&L

5. Excludes Caspia Delhi EBITDA on TTM basis

Commenting on the performance, Mr. Ashish Jakhanwala, MD & CEO, SAMHI Hotels Ltd. said,  “FY2026 was a year of transformation where we created a solid foundation coupled with tangible outperformance in the midst of real headwinds — and I am pleased to share our progress with you.

Financial performance: Delivered strong FY26 revenue growth of 12.3% despite multiple business disruptions, exceeding the guided 9–11% range. EBITDA grew 8.8% despite GST-related impacts, reflecting resilient operational performance.  Net Debt to EBITDA now at a comfortable ~3.0x — a promise delivered despite revenue disruption and active investment in future growth.

GIC investment & balance sheet: A landmark development in FY2026 was our partnership with GIC, one of the world’s most respected institutional investors. GIC invested ~₹6,000mn (with a further ₹1,500mn committed) for a 35% minority stake in a platform of ~1,000 rooms — a strong validation of the quality and prospects of our assets. This capital infusion has materially strengthened our balance sheet and gives us significant firepower to pursue the next phase of growth.

Portfolio growth: We added four strategically significant hotel developments during the year, spanning multiple formats. Two were structured as highly capital-efficient variable leases, keeping our equity deployment disciplined. We partnered with an affiliate of Ingka Centres (part of the Ingka Group, which operates IKEA) to lease an upscale hotel of ~162 rooms in Sector 51, Noida — further anchoring our presence in Delhi NCR. We also signed a lease for a ~260-room hotel in Hyderabad’s financial district, one of the country’s strongest performing commercial markets. In Chennai, we are adding a Marriott-branded hotel alongside our existing Fairfield by Marriott — deepening our cluster advantage. And we have commenced construction on our largest hotel to date, in Navi Mumbai with ~700 rooms.

Leisure optionality:  The structural tailwind in leisure and experiential travel is among the most durable growth themes in Indian hospitality. To participate, we have acquired a 70% stake in RARE India — a curated platform of 73 hotels and 1,015 rooms spanning across heritage palaces, wildlife lodges and boutique retreats. The proposed affiliation under Outdoor Collection by Marriott Bonvoy will connect this portfolio to a global distribution network. This is a high-growth segment addressed in an asset-light model — a compelling combination of brand, scale and capital efficiency.

Outlook: Macro headwinds are a reality we plan for — not an exception. SAMHI enters FY2027 with a stronger balance sheet, a larger and more diversified portfolio, an institutional co-investor, and a clear roadmap. We are well positioned, and we intend to execute.

Looking ahead to FY27 and beyond, we expect every incremental EBITDA to translate into free cash flows. With interest outflows expected to remain stable, future growth investments are anticipated to be increasingly self-funded, supporting a disproportionate improvement in free cash flow generation.

Thank you for your continued confidence in SAMHI. We look forward to updating you on our progress.”