Apeejay Surrendra Park Hotels Limited registers highest-ever Q1 top-line performance

Apeejay Surrendra Park Hotels Limited (ASPHL), a leading player in the hospitality sector renowned for its upscale properties and diverse F&B offerings, announced financial results for the quarter ending 30 June 2024. In Q1FY25, the company's revenue stood at INR 138 crore, up by 6% and an increase of 4% YoY in EBIDTA to INR 42 crore. The company registered a strong occupancy at 94%.

- Q1 FY25 Revenue stood at Rs. 138 Cr, up by 6% YoY
- Q1FY25 EBIDTA at Rs 42 Cr, up 4% YoY
- Q1FY25 PBT at Rs 25 Cr, up 102% YoY
- Witnessed strong occupancy at 94% in Q1FY25
- Credit Rating Upgraded by 3 Notches To A+ (Stable)

Apeejay Surrendra Park Hotels Limited (ASPHL) currently manages a portfolio of 33 hotels spread across 23 cities, showcasing its significant presence in the hospitality industry. In the coming two months, ASPHL is set to enhance its offerings with the inauguration of two new properties: "THE Palace Chettinad" and "Ran Baas Palace Patiala". These additions are expected to further solidify the company's reputation for luxury and heritage hospitality.

Moreover, ASPHL has embarked on new projects at the EM Bypass in Kolkata and in Pune, indicating its ongoing commitment to expansion and development. These initiatives reflect the company's strategic vision to broaden its footprint and cater to a diverse clientele, ensuring a blend of modern amenities and cultural richness in its properties.

Commenting on the performance Mr. Vijay Dewan, Managing Director, Apeejay Surrendra Park Hotels said, "We continue to outperform the market in the upper up-scale segment with industry leading occupancy and RevPAR. During this quarter EBIDTA has grown despite transient headwinds on account of lower air traffic growth, prolonged disruption on account of elections and dip in MICE and social functions. Our confectionary and café brand Flurys has achieved remarkable success with openings in Mumbai and it will cross the 100-store mark soon. ICRA has revised the company's credit rating three notch up to A+ (Stable) and this along with a strong balance sheet and new openings will take the company on to a faster growth trajectory in the quarters ahead."

Shares of Apeejay Surrendra Park Hotels Limited was last trading in BSE at Rs. 174.40 as compared to the previous close of Rs. 179.30. The total number of shares traded during the day was 55291 in over 1273 trades.

The stock hit an intraday high of Rs. 176.05 and intraday low of 172.10. The net turnover during the day was Rs. 9630991.00.

Source : Equity Bulls

Keywords

ApeejaySurrendraParkHotels INE988S01028 Q1FY25 Q1FY2025 FY2025 ResultUpdate