Kamat Hotels (I) earnings calls.

Kamat Hotels reported Q3 FY26 revenue of INR 118 croreCurrent reported value: INR 118 crore. No comparable prior figure is available in the source record. (+12Current reported value: 12. No comparable prior figure is available in the source record.% YoY), with EBITDA at INR 39 croreCurrent reported value: INR 39 crore. No comparable prior figure is available in the source record. (33.14Current reported value: 33.14. No comparable prior figure is available in the source record.% margin) and PAT at INR 19 croreCurrent reported value: INR 19 crore. No comparable prior figure is available in the source record. (-26.9Current reported value: -26.9. No comparable prior figure is available in the source record.% YoY). The revenue growth was driven by stronger November performance and improved occupancies at Orchid Mumbai (80%Current 80%. Reported change: +6pp YoY. vs 74% YoY, ARR up to INR 7,818 from INR 7,165), partially offset by headwinds from Shimla/Manali road disruptions and delayed hotel openings in Jamnagar, Chandigarh, and Hyderabad. Pune renovation boosted room rates to INR 6,400-6,700 from INR 5,500-5,700. Management acknowledged Q3 underperformance versus peers, citing mature hotel portfolio limitations and new property ramp-up costs. Full-year revenue guidance of INR 400 crore is now expected to be missed by 5-7% due to project delays. 280-290 new roomsCurrent 280-290 new rooms. Reported change: Delayed. are targeted for the coming calendar year across Derdun, Gualier, Bhagar, and Nashik. Key risks include continued Shimla/Manali pressure, Mumbai supply headwinds causing ADR plateauing, and delayed Pune/Nashik expansion impacting near-term EBITDA recovery.