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Revenue (Standalone): INR 557 crores, 14% growth over last year.
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EBITDA (Standalone): INR 189 crores, 27% growth over last year.
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Profit After Tax (Standalone): INR 114 crores, 34% growth over last year.
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Revenue (Consolidated): INR 623 crores, 13% growth over last year.
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EBITDA (Consolidated): INR 208 crores, 26% growth over last year.
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Profit After Tax (Consolidated): INR 133 crores, 41% growth over last year.
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RevPAR Growth (Overall Metro): 10% year-on-year.
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RevPAR Growth (Leisure): 87% year-on-year.
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RevPAR Growth (Trident): 22% year-on-year.
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RevPAR Growth (All Owned Hotels): 15% year-on-year.
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RevPAR Growth (All Domestic Hotels): 14% year-on-year.
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ARR Growth: From INR 13,300 to INR 14,970.
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Occupancy Rate: Increased from 69% to 72%.
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Fund Position: INR 592 crores retained for future growth and expansion.
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Expansion Plans: 20 new properties expected by 2029, including 13 Oberoi hotels and 4 Trident hotels.
Release Date: November 22, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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EIH Ltd (BOM:500840) reported its best-ever Q2 performance with the highest revenue, EBITDA, and PAT in the last 15 years.
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The company announced a significant expansion plan with 20 new properties expected by 2029, including both domestic and international locations.
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RevPAR growth was strong across various segments, with leisure showing an 87% increase and Trident hotels a 22% increase year-on-year.
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The company maintains a strong financial position with INR 592 crores retained for future growth and expansion.
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EIH Ltd (BOM:500840) has a strategic investment in a luxury hotel in London, which is expected to enhance brand presence in a key international market.
Negative Points
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The performance in the MENA region was muted due to geopolitical conflicts, affecting overall results.
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Oberoi Grand is temporarily closed for renovation, which may impact short-term revenue from that property.
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The lease for the Mumbai airport business lounge is uncertain beyond Q3, potentially affecting future revenue.
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There are ongoing legal matters related to certain properties, which could pose risks to business operations.
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The company faces challenges in expanding its managed hotel portfolio, with a relatively low share of managed contracts in its growth strategy.
Q & A Highlights
Q: What is the consolidated CapEx for EIH Ltd's expansion until FY29? A: Vikram Oberoi, CEO, mentioned that all disclosures regarding CapEx for various hotels owned by EIH or its associate companies have been made to the stock exchange. He suggested referring to these disclosures for detailed information.