Apeejay Surrendra Park Hotels Ltd
Apeejay Surrendra Park Hotels Q4 FY26 earnings call: Revenue & Margins
Q4 FY26 earnings call: what management guided on revenue, margins and order book.
What the Q4 FY26 call signalled
3 of 5 strong
The short version
Plan to double number of hotels from 42 to 85 and increase key count from 2,677 to 6,635 over next four years (Page 5). The company expects strong growth driven by: - Expansion of hotel portfolio from 42 to 85 hotels by FY30, nearly doubling keys from 2,677 to 6,635. - Focus on asset-light growth models, which will scale threefold, improving capital efficiency. - Continued leadership in occupancy and RevPAR supported by limited new supply and strong demand. - Improvement in Average Room Rate (ARR) via room renovations and premium positioning. - Flurys expanding from 110 to 140+ outlets by FY27, further boosting F&B revenues which form 43% of total revenues. - Increased cash flows from residential sales at EM Bypass, estimated Rs.
From Apeejay Surrendra Park Hotels Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Plan to double number of hotels from 42 to 85 and increase key count from 2,677 to 6,635 over next four years (Page 5).
- Addition of 12 hotels totaling 472 keys planned in FY27, including 8 asset-light model properties (Page 5).
- Flurys aims to add over 30 outlets in next 10 months, increasing from 110 to 140 outlets; 40–50 outlets planned by 2030 (Pages 5, 10).
- EM Bypass service apartment sales expected to improve cash flow by ~70 crores in FY27 (Pages 5, 10).
- Expansion of premium/luxury hotels with 200+ rooms planned in Kolkata, Pune, Navi Mumbai, and others with higher ARR focus (Page 15).
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Profitability & Margins
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Capital Expenditure Plans
- Approximate Rs. 1100 crores investment planned for five projects (Pune, Mumbai, Vizag, EM Bypass Kolkata, Jaipur) totaling 950 rooms (Page 14).
- EM Bypass contribution expected around Rs. 350 crores, with Rs. 70 crores expected this year.
- Acquisition/project cost of Zillion and THALI amounts to about Rs. 330 crores.
- Normal capex and Flurys expansion capex about Rs. 30-40 crores per annum (Page 14).
- Total capex demand estimated at Rs. 1500 crores, majorly funded via internal accruals.
- Flurys expansion: adding 30 outlets in next 10 months, targeting 40-50 outlets over next 4 years to 2030 (Page 7).
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Top-ranked in Leisure Services
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- Apeejay Surrendra Park Hotels has approximately five major projects pending, covering Pune, Mumbai, Vishakhapatnam, EM Bypass (Kolkata), and Jaipur.
- These projects total about 950 rooms.
- The estimated investment per room is around Rs. 1.2 crore, resulting in an aggregate investment of approximately Rs. 1100 crores.
- EM Bypass project contribution is expected to be Rs. 350 crores, with Rs. 70 crores expected in the current financial year.
- Additional acquisition/project costs for Zillion and THALI amount to around Rs. 330 crores.
- Normal capital expenditure is about Rs. 40 crores per annum.
- Flurys expansion capex is approximately Rs. 30-40 crores per annum.
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Apeejay Surrendra Park Hotels Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹171 Cr, net profit ₹13 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Apeejay Surrend.'s management said in earlier quarters
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Frequently Asked Questions
What were Apeejay Surrendra Park Hotels Ltd Q4 FY26 results?
Plan to double number of hotels from 42 to 85 and increase key count from 2,677 to 6,635 over next four years (Page 5). The company expects strong growth driven by: - Expansion of hotel portfolio from 42 to 85 hotels by FY30, nearly doubling keys from 2,677 to 6,635. - Focus on asset-light growth models, which will scale threefold, improving capital efficiency. - Continued leadership in occupancy and RevPAR supported by limited new supply and strong demand. - Improvement in Average Room Rate (ARR) via room renovations and premium positioning. - Flurys expanding from 110 to 140+ outlets by FY27, further boosting F&B revenues which form 43% of total revenues. - Increased cash flows from residential sales at EM Bypass, estimated Rs.
What is Apeejay Surrendra Park Hotels Ltd share price analysis?
Apeejay Surrendra Park Hotels Ltd currently shows a below-average growth signal. The stock trades at a P/E of 39.0 with a market cap of ₹2,511 Cr. Investors should review the full earnings analysis for detailed insights.
Is Apeejay Surrendra Park Hotels Ltd planning capital expenditure?
Approximate Rs.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.