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Revenue
₹110 Cr
verification pending
Revenue YoY
19%
reported change
EBITDA
₹32 Cr
latest reported figure
Source
bse pending
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Kamat Hotels reported a strong Q4 FY26 with consolidated revenue of ₹110 crore (+19% YoY) and EBITDA margin expanding 213 bps to 29%. PAT surged 59% to ₹18 crore, driven by robust domestic demand and cost controls. However, the loss of the Orchid Mumbai lease (₹50 crore revenue) will pressure FY27 top line, though EBITDA impact is neutral to positive. New properties (260 keys added in FY26) are stabilizing and expected to contribute meaningfully in FY27. Management remains cautiously optimistic but flagged execution delays due to LPG shortages and rising labor costs from the new wage code. Key risk: slower-than-expected ramp-up of new hotels may not fully offset the Mumbai revenue gap.
Colored figures show movement against the previous available record.
Guidance to track
- The Orchid Bhavnagar property is expected to open by June 2026, ahead of earlier estimates.
- Management expects to operationalize 150-200 additional keys in FY27 based on current pipeline.
- New hotels opened in FY26 are expected to stabilize and contribute positively to EBITDA in FY27, offsetting the Mumbai revenue loss.
Risks flagged
- Loss of ~₹50 crore annual revenue from the Orchid Mumbai lease may not be fully replaced by new properties in FY27.
- LPG shortages are causing material supply issues, delaying hotel renovations and new openings.
- Annual salary revisions under the new wage code added ~₹4 crore to costs, which are permanent and may pressure margins.
- New hotels take time to achieve optimal occupancy and ADR due to SEO and brand recognition challenges, delaying profitability.
Key quotes
- We find ourselves in a very unique position where there is still growth, you still have the performance, but expenses and other things are going up.
- Our target is to bring this down by performance and by rationalization wherever required.
- We have learned our lessons. We've done as needful. I think financially we are quite comfortable.
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