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Viceroy Hotels Ltd

Q2 FY26Leisure Services

Viceroy Hotels Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Price₹120
Market cap₹843 Cr
P/E37.0
Updated23 Aug 2026
Read3 min read

The short version

Industry projected to grow at 7-8% CAGR; Viceroy aims to outperform with 10% growth targets. Viceroy Hotels aims for a 5-7% growth in earnings despite ongoing phased renovations over the next couple of years.

From Viceroy Hotels Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • Industry projected to grow at 7-8% CAGR; Viceroy aims to outperform with 10% growth targets.
  • Despite ongoing renovations, a 5-7% growth is targeted for FY27 and beyond.
  • Completion of Courtyard renovation (by Nov 2025) increases inventory and supports higher occupancy.
  • Strong demand in Hyderabad due to limited supply and growing corporate presence (GCCs).
  • ADR expected to continue increasing, supported by premium room offerings (club rooms at 25-30% higher ADR).
  • Expansion plans focused on Hyderabad (Brownfield acquisitions) and select leisure/vacation destinations.
  • Enhanced F&B and banqueting expected to grow revenue by 30-35% post-renovation.

2 more points from Viceroy Hotels Ltd's call on revenue

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Profitability & Margins

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Capital Expenditure Plans

  • Total renovation and upgrade plan budgeted at INR 120 crores across three phases.
  • Phase one (INR 50-55 crores spent, nearly complete): Completion of Courtyard hotel including 56 new rooms, spa, gym, rooftop restaurant, pool, and building facade.
  • Phase two and three (balance ~INR 70 crores): Upgrading 295 rooms at Marriott property, expanding convention center from 10,000 to 20,000 sq ft, upgrading existing 10,000 sq ft convention space, F&B outlets, and lobby.
  • Funding partly covered by INR 37.5 crores rights issue, ongoing cash accruals, and open credit limit of INR 70-80 crores from Kotak.
  • Future strategic investment focus on Hyderabad market due to high demand and limited supply.

2 more points from Viceroy Hotels Ltd's call on capex

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Top-ranked in Leisure Services

Ranked on what management guided this quarter

Guidance-ranked
1Landmark Global Learning Ltd
Rev 2Mar 1
2Jubilant Foodworks Ltd
Rev 2Mar 3
3
Rev 2Mar 3
4
Rev 2Mar 3
5
Rev 2Mar 3
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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

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Viceroy Hotels Ltd — Quarterly revenue & net profit

Revenue Net profit
Sep 2024Q2 FY25
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹48 Cr, net profit ₹6 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Viceroy Hotels Ltd's management said in earlier quarters

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  • Apollo Sindoori Hotels Ltd (Q2 FY26)

    Q2 FY26 consolidated revenue: ₹150 Cr, up 10% YoY from ₹136 Cr in Q2 FY25 (Page 16, 7). Key investor presentation takeaways from Apollo Sindoori's Q2 FY26 inves

  • Sinclairs Hotels Ltd (Q2 FY26)

    Year-on-year revenue growth for October 2025 is approximately 35% (Page 18). Key investor presentation takeaways from Sinclairs Hotels's Q2 FY26 investor presen

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Frequently Asked Questions

What were Viceroy Hotels Ltd Q2 FY26 results?

Industry projected to grow at 7-8% CAGR; Viceroy aims to outperform with 10% growth targets. Viceroy Hotels aims for a 5-7% growth in earnings despite ongoing phased renovations over the next couple of years.

What is Viceroy Hotels Ltd share price analysis?

Viceroy Hotels Ltd currently shows a neutral. The stock trades at a P/E of 37.0 with a market cap of ₹843 Cr. Investors should review the full earnings analysis for detailed insights.

Is Viceroy Hotels Ltd planning capital expenditure?

Total renovation and upgrade plan budgeted at INR 120 crores across three phases.

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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.