Samhi Hotels Limited has received approval to develop a dual-branded hotel near the Navi Mumbai International Airport and DY Patil Stadium. The project will feature ~400 rooms in Phase I, with the potential to expand to ~700 rooms upon full development. It is proposed to be operated under the Westin and Fairfield by Marriott brands (subject to execution of definitive agreements).
Hyderabad Development
The company has also 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—a key milestone that strengthens Samhi’s footprint in southern India.
Key Highlights for Q2FY26
- RevPAR: ₹5,026, up 11.2% YoY
- Occupancy: 75%
- Total Income: ₹2,963 Mn, up 11.0% YoY
- EBITDA: ₹1,105 Mn, up 14.2% YoY
- PAT: ₹998 Mn, up 691.1% YoY
- Exceptional Items:
- Reversal of impairment (Navi Mumbai land): ₹696 Mn
- Gain on sale of Caspia, Delhi: ₹145 Mn
- Credit Rating: Upgraded to A+ (Stable) by CARE
Key Highlights for H1FY26
- RevPAR: Up 10.8% YoY
- Occupancy: 75%
- Total Income: ₹5,836 Mn, up 12.0% YoY
- EBITDA: ₹2,161 Mn, up 16.3% YoY
- PAT: ₹1,190 Mn, up 606.3% YoY
Consolidated Financial Highlights (₹ Mn)
| Metrics | 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 | – | ||
| PAT | 998 | 126 | +691.1% | 1,190 | 168 | +606.3% |
Strengthened Debt Profile
| Metrics | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 |
|---|---|---|---|
| Net Debt | 13,700 | 14,345 | 19,669 |
| TTM EBITDA | 4,702 | 4,574 | 4,434 |
| Net Debt : EBITDA | 2.9x | 3.1x | 4.4x |
| Interest Rate | 8.5% | 8.6% | 9.2% |
| Annualised Interest Cost | 1,250 | 1,400 | 1,900 |
Management Commentary
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 consolidated EBITDA growth of 14.2% over the 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 ~₹998 Mn for the quarter. For the first half of FY2026, total revenue growth was 12.0% and EBITDA growth of 16.3% over the same period last year, setting a strong base for the remainder of FY2026 and for FY2027. The Navi Mumbai development will redefine both the city’s skyline and Samhi’s future, with the potential to create a 700-room dual-branded hotel. We are also happy to contribute to the state’s vision of making Navi Mumbai a world-class city. In addition, our new midscale hotel project in Hyderabad’s Financial District allows us to capture a strong market opportunity. With growth projects like W-Hyderabad and Westin Bengaluru progressing as planned, and same-store growth tracking at 9–11% CAGR, we are confident in Samhi’s continued value creation and future growth.”
