Ventive Hospitality Ltd

- Ventive Hospitality has reduced its debt to less than INR 1,500 crores. - They have a headroom of INR 900 crores for additional debt from previous levels. - The company expects to fund the next three years' capex (around INR 1,000 crores) primarily through internal accruals. - No specific mention of new equity fundraising in the transcript. - The focus remains on disciplined capital allocation and selective acquisitions based on return thresholds. - The Mundra project is currently on hold, indicating cautious capital deployment. - Overall, the company is confident of funding growth through existing cash flows and available debt capacity without immediate planned equity fundraising.

- Capex for next three years expected around INR 1,000 crores. - Major projects include Bangalore hotel (AC by Marriott Whitefield conversion), Sri Lanka hotel (Ritz-Carlton Reserve), and other FF&E investments. - Hilton Goa acquisition involved INR 100 crores incremental debt; Sol de Goa property added with minor balance sheet impact. - Varanasi Marriott under construction; expected to complete by FY28. - Ritz-Carlton Reserve in Sri Lanka at design/planning stage; completion timeline FY28. - Mundra asset project currently on hold pending reassessment of timing and return profile. - Focus on luxury and premium urban assets, leisure, wellness, lifestyle-led hospitality, and stable annuity assets. - Most capex to be funded through internal accruals; company holds strong cash and headroom for debt. - Capital deployment to be disciplined with emphasis on return thresholds and execution complexity.

- Ventive expects low-teen revenue growth and high-teen EBITDA growth in FY27 and medium to long term. - India portfolio has significant occupancy headroom combined with sustained double-digit ADR growth. - Maldives market shows resilience with strong luxury travel demand; occupancy and TRevPAR growth expected to continue. - Raaya resort ramp-up and expanded direct flight connectivity to key source markets further support growth. - Portfolio diversification across India, Maldives, and annuity businesses strengthens overall growth prospects. - Strategic acquisitions like Hilton Goa and Soho House expansions underpin future revenue increases. - Supply constraints in key markets like Pune support pricing power and occupancy growth potential. - Annuity business continues to provide stable, high-margin cash flows. - Despite short-term disruptions, Ventive is confident of continued scalable growth driven by asset quality, operating leverage, and market positioning.

- Ventive expects to deliver **low-teen revenue growth** and **high-teen EBITDA growth** in the medium to long term, supported by strong demand and premium asset positioning. - FY27 outlook remains positive despite short-term volatility, with confidence that current disruptions will not derail the quarter. - The India portfolio has significant headroom for occupancy growth alongside sustained double-digit ADR growth, enabling continued earnings expansion. - Operating leverage and cost discipline are expected to drive strong flow-through on incremental revenues into EBITDA. - Profit After Tax (PAT) is projected to increase further, building on the milestone of exceeding INR 500 crores in FY26. - Internal accruals are expected to adequately fund capex and growth plans, supporting sustainable profit growth. - Management is confident in long-term value delivery through operating excellence, disciplined capital allocation, and diversification across geographies and formats.

The transcript does not explicitly mention current or expected order book or pending orders for Ventive Hospitality Limited. However, relevant information about ongoing and upcoming projects includes: - Active development projects progressing as planned: - Conversion of Whitefield asset in Bangalore to AC by Marriott (expected completion by March 2027). - Construction and design work ongoing at Varanasi Marriott (expected completion FY28). - Design and planning for Ritz-Carlton Reserve in Sri Lanka continuing (expected completion FY28). - Expansion plans: - Hilton Goa acquisition with plans to add 60-70 keys. - Soho House Delhi under construction, expected completion within 2 years. - Sol de Goa added to portfolio; not currently operational. - Mundra project is currently on hold pending further evaluation. No specific numeric order book or pending order value is provided in the transcript.