Brigade Hotel Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 16 Jul 2026 | Leisure Services | Market Cap: ₹2.3K Cr
Expect mid-teens to high-teens growth in RevPAR, driven by strong demand and limited new supply in core micro markets like Bangalore and Chennai. Brigade Hotel Ventures expects mid-teens to high-teens percent growth in RevPAR and F&B revenue going forward, driving strong earnings growth.
From Brigade Hotel's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹59.1
Market Cap
₹2.3K Cr
P/E Ratio
33.3
How does Brigade Hotel rank in Leisure Services?
Compare Brigade Hotel against every Leisure Services company this quarter on revenue, margins and earnings-call signals.
Brigade Hotel — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹136 Cr, net profit ₹25 Cr.
Full financials →📊 Revenue & Sales Performance
- →Expect mid-teens to high-teens growth in RevPAR, driven by strong demand and limited new supply in core micro markets like Bangalore and Chennai.
- →Anticipate healthy ADR (Average Daily Rate) growth aligned with market trends, targeting better yield due to strategic positioning and steady high occupancy.
- →F&B revenue projected to grow in high teens, aligning with room revenue growth after stabilization from recent quarter fluctuations.
- →Development pipeline includes nine new hotels adding 1,700 keys by FY 2030, nearly doubling portfolio and supporting long-term revenue growth.
- →Capex of approximately INR 400-500 crores planned in FY 2027 for expansion, with larger investments back-ended to FY 2029 and 2030.
- →Continued focus on operational efficiencies and guest experience expected to support sustainable sales growth.
- →Strong demand visibility from corporate and MICE segments, with growth potential in conference and social event business.
📈 Profitability & Margins
- →Brigade Hotel Ventures expects mid-teens to high-teens percent growth in RevPAR and F&B revenue going forward, driving strong earnings growth.
- →PAT grew by 126% YoY in Q3 FY’26 and 273% in the last 9 months, indicating improving profitability trends.
- →Operational efficiencies and cost control initiatives support EBITDA margin expansion, currently at 35.9%.
- →Capex of INR ~1,500 crores planned for FY ‘26 and ‘27 to add 9 new hotels, with fresh debt to fund expansion but a strong balance sheet with net cash of INR132 crores currently.
- →ROCE stands at 13.1%; long-term growth supported by a well-phased development pipeline nearly doubling keys by FY30.
- →Debt to EBITDA ratio expected to peak around 4x-4.5x in FY29-30 but will improve as new hotels commence operations.
- →Overall, Brigade is confident of sustainable growth and delivering long-term value to stakeholders through balanced portfolio expansion and strong demand visibility.
🏗️ Capital Expenditure Plans
- →For FY’26, Brigade Hotel Ventures has planned a capex of about INR265 crores, with approximately INR230 crores already spent in the first 9 months.
- →FY’27 capex is expected to be around INR500 crores, with a significant portion of total planned capex (~INR3,600 crores for nine upcoming hotels) back-ended to FY’29 and FY’30.
- →The company has started construction on two Fairfield hotels; the Grand Hyatt Chennai awaits environmental clearance to begin construction.
- →Capital investments include acquisition or long leases of land for nine upcoming hotels, with about 10% of total capex allocated to land acquisition.
- →Fresh debt will be raised to fund these expansions; net debt is currently negative due to IPO proceeds repaying past debt.
- →The company is in negotiations about contract renewals with Marriott for one hotel expiring December 2026.
- →Capex plans include ongoing maintenance and upgradation of existing properties alongside new developments.
💰 Fundraising & Capital Structure
- →No current debt on the books as IPO proceeds were used to repay all debt.
- →Net cash surplus of INR132 crores currently.
- →Existing loan of about INR148 crores from the parent company planned to be repaid.
- →For upcoming expansion, plan to raise fresh debt; no asset recycling or selling existing portfolio.
- →Debt expected to fund construction costs for new hotels, likely starting in the coming fiscal year.
- →Peak debt-to-EBITDA expected around 4-4.5x in FY'29 and FY'30, supported by strong DSCR.
- →No mention of imminent equity fundraising; focus is on utilizing IPO equity proceeds and raising debt for capex.
📋 Order Book & Pipeline
- →Brigade Hotel Ventures Limited has a development pipeline of nine new hotels planned over the next five years.
- →The pipeline involves an investment of close to INR 3,600 crores.
- →These additions aim to nearly double the current portfolio, adding approximately 1,700 keys, reaching a total of 3,300 keys by FY30.
- →Among these, the Courtyard by Marriott at Chennai World Trade Centre (45 keys) is expected to become operational in FY27.
- →Capex deployment so far includes about INR 158 crores in FY24 and FY25, with over INR 230 crores invested in the last 9 months of FY26.
- →Remaining capex of approximately INR 3,200 crores is expected to be deployed mostly in FY29 and FY30, reflecting a back-ended spending pattern.
- →No asset recycling or sale of existing portfolio assets is planned; expansion will be funded through fresh debt.
Key Metrics
Continue your research
What Brigade Hotel's management said in earlier quarters
Others in Leisure Services this season
- Ventive Hospital (Q3 FY26)
India portfolio sees sustained ADR growth (~17-18%) supported by luxury demand, especially in Pune and Bangalore, with stable occupancy and strong office space…
- Wonderla Holidays Ltd (Q3 FY26)
EBITDA margins have normalized to around 30% post-COVID after a 40%-50% spike due to pent-up demand; historic margins were about 40%. Key concall takeaways…
- Restaurant Brands Asia Ltd (Q3 FY26)
Focus on profitable growth, especially by reducing delivery discounts and improving gross margins, which have already reached 70%, ahead of schedule. Key…
- Apeejay Surrend. (Q3 FY26)
EBITDA margin of 35.3% in Q3 FY26 supported by occupancy of 90%, reflecting pricing discipline and resilient demand. Key concall takeaways from Apeejay…
Frequently Asked Questions
What were Brigade Hotel Q3 FY26 results?
Expect mid-teens to high-teens growth in RevPAR, driven by strong demand and limited new supply in core micro markets like Bangalore and Chennai. Brigade Hotel Ventures expects mid-teens to high-teens percent growth in RevPAR and F&B revenue going forward, driving strong earnings growth.
What is Brigade Hotel share price analysis?
Brigade Hotel currently shows a neutral. The stock trades at a P/E of 33.2 with a market cap of ₹2,266 Cr. Investors should review the full earnings analysis for detailed insights.
Is Brigade Hotel planning capital expenditure?
For FY’26, Brigade Hotel Ventures has planned a capex of about INR265 crores, with approximately INR230 crores already spent in the first 9 months.
Keep Brigade Hotel on your radar — track it to get its next earnings analysis in your feed.
This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.