SAMHI Hotels announced its audited Standalone and Consolidated results for the quarter and year ended 31st March 2025.
Commenting on the performance, Ashish Jakhanwala, Chairman & Managing Director, SAMHI Hotels Ltd., said: “The results for Q4 and FY2025 performance reflect SAMHI’s focus on expanding high-quality hotel portfolio, driving strong revenue growth, and delivering robust EBITDA performance. Positive momentum in room rates, effective portfolio management, and disciplined execution continue to reinforce our leadership in the hospitality sector. We are pleased to announce the completion of our strategic partnership with GIC, a globally respected long-term investor.”
He further added, “Together, we have launched a dedicated Upscale+ hotel investment platform—an important milestone that speaks to the strength of our operating model, the quality of our assets, and our capability to execute value-accretive strategies at scale. The initial seed portfolio of over 1,000 rooms in key commercial hubs like Bengaluru and Pune underscores our commitment to high-demand, high-barrier-to-entry markets. Post the GIC deal, our Net Debt to EBITDA stands at 3.2x, enabling us to fund growth efficiently while maintaining financial discipline. Looking ahead, we remain focused on scaling efficiently, strengthening margins, and enhancing shareholder value. With a future-ready platform, strong institutional backing, and a clear roadmap for growth, we are confident in our ability to continue delivering strong, sustained returns for our stakeholders.”
Key highlights for Q4 FY25
- RevPAR at Rs. 5,958, up 20.6% YoY, demonstrating strong business demand across key markets.
- Occupancy stood at 75% for Q4FY25.
- Asset Income and Asset EBITDA grew YoY by 13.6% and 17.7% respectively.
- On a same-store basis, Asset Income grew 15.8% and Asset EBITDA rose 22.0%.
- Growth attributed to same-store performance and the ACIC acquisition.
- Finance cost decreased to 9.2% as of May 15, 2025, from 9.4% on December 31, 2024.
Key highlights for FY25
- RevPAR at Rs. 5,015, up 16.5% YoY.
- Occupancy stood at 74% for FY25.
- Asset Income and Asset EBITDA grew YoY by 17.7% and 21.2% respectively.
- ESOP costs were Rs. 177 Mn, expected to reduce to ~Rs. 100 Mn in FY26.
Note: Based on same-store, i.e., excludes the ACIC Portfolio acquired in Aug’23, Trinity acquired in Oct’24, Holiday Inn Express Greater Noida (renovated and reopened in Dec’24), and Caspia Delhi (under renovation).
Consolidated financial highlights (Rs. Mn)
| Metric | Q4FY25 | Q4FY24 | YoY % | FY25 | FY24 | YoY % |
|---|---|---|---|---|---|---|
| Asset Income | 3,195 | 2,813 | 13.6% | 11,333 | 9,630 | 17.7% |
| Asset EBITDA | 1,370 | 1,163 | 17.7% | 4,576 | 3,777 | 21.2% |
| Asset EBITDA % | 42.9% | 41.4% | 40.4% | 39.2% | ||
| Net Corporate G&A | -62 | -87 | -142 | -293 | ||
| Consolidated EBITDA (pre-ESOP & one-time) | 1,307 | 1,077 | 21.4% | 4,434 | 3,484 | 27.3% |
| ESOP & One-Time Expenses | -44 | -115 | -177 | -606 | ||
| Consolidated EBITDA (Reported) | 1,263 | 962 | 31.3% | 4,257 | 2,879 | 47.9% |
| PAT | 459 | 113 | 855 | -2,346 |
Debt profile (Rs. Mn)
| Metric | Mar 31, 2024 | Mar 31, 2025 | Post GIC (as on date) |
|---|---|---|---|
| Net Debt | 18,242 | 19,669 | 14,289 |
| TTM EBITDA¹ | 3,681 | 4,434 | 4,434 |
| Net Debt : EBITDA | 4.9x | 4.4x | 3.2x |
| Interest Rate | 9.8% | 9.2%² | 9.2% |
| Annualised Interest Cost³ | 1,990 | 1,900 | 1,430 |
1 Excluding ESOP & One-time Expenses
2 As on 15th May 2025
3 Does not include non-cash finance cost items such as interest on lease, EIR, etc., which are charged to P&L
