Kamat Hotels (India) Ltd — earnings calls

Kamat Hotels reported consolidated revenue of Rs 91 crore for Q1 FY27, up 10% year-on-year, with EBITDA rising 36% to Rs 25 crore and EBITDA margins expanding to 27% from 22% a year earlier. Management attributed the growth to pricing discipline, operational efficiency, and ramp-up of newer properties including Orchid Panchgani, Orchid Rishikesh, Ira by Orchid Hyderabad and Ira by Orchid Bhavnagar. The company also discussed its hotel pipeline, including upcoming openings in Dwarka, Gwalior, Dehradun, Nashik, Rishikesh and Mandvi, and stated its consolidated net debt stood at Rs 38 crore.

Kamat Hotels reported Q4 FY26 consolidated revenue of INR 110 crores, up approximately 19% year-on-year, with EBITDA of INR 32 crores at a 29% margin and PAT of INR 18 crores, up 59% year-on-year. For full year FY26, consolidated revenue was INR 386 crores reflecting 8% growth, EBITDA was INR 97 crores at a 25.1% margin, and PAT was INR 39 crores at a 10.1% margin. Management discussed occupancy and ARR declines at IRA and Fort Jadhavgadh due to new hotel additions diluting brand-level metrics, the discontinuation of the IRA Mumbai lease, rising labor costs from the new wage code, and the appointment of a new CFO, Mr. Milind Wadekar.