Room-led Q1 leaves Brigade Hotel Ventures with a 32.82% operating margin
Management cited softer corporate and MICE demand, travel disruptions and inflation for weaker banqueting and F&B, while outlining a 1,700-key expansion pipeline.
Filed 05 Aug 2026, 17:23 IST · after market close · BRIGHOTEL (BRIGHOTEL)
Key takeaways
- Room revenue drove the consolidated Q1 FY27 performance, while operating margin stood at 32.82% as banqueting and F&B moderated.
- Net profit was Rs 17.34 cr, but Rs 3.79 cr of other income and Rs 8.71 cr of interest mean earnings were not entirely operating-led.
- Management said it plans Rs 3,600 cr of capex for 1,700 upcoming keys by FY30, with the Courtyard by Marriott at WTC Chennai scheduled for Q3 FY27.
Room revenue carried the consolidated Q1 performance
Brigade Hotel Ventures reported consolidated revenue of Rs 127.04 cr and operating profit of Rs 41.70 cr in Q1 FY27, translating into a 32.82% operating margin. Management said room revenue was the key performance driver, while banqueting and F&B moderated. The company attributed that moderation to softer corporate and MICE demand, air travel disruptions, inflationary pressure and a dry events calendar.
Other income supported profit as finance costs remained material
Consolidated profit before tax was Rs 23.25 cr against operating profit of Rs 41.70 cr, with interest of Rs 8.71 cr and depreciation of Rs 13.53 cr weighing between the two measures. Other income contributed Rs 3.79 cr, so reported profit was not entirely generated by hotel operations. Net profit was Rs 17.34 cr, with a tax rate of 25.42% and EPS of Rs 0.42.
Management outlined a 1,700-key expansion pipeline
Management said the Courtyard by Marriott at WTC Chennai remains on track for launch in Q3 FY27. It also said the company plans Rs 3,600 cr of capex for 1,700 upcoming keys by FY30, including Rs 2,000–2,200 cr in FY27–FY28 and Rs 1,050–1,150 cr in FY29–FY31. The company told investors that its Kochi Infopark property has been rebranded and upgraded from Four Points by Sheraton to Courtyard by Marriott.
The filing came after market close
The consolidated results were filed after market close on 5 August 2026. With the filing made at 17:23 IST, the immediate stock response was not yet established in this note.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹127 cr |
| Other income | ₹4 cr |
| Expenses | ₹85 cr |
| Operating profit | ₹42 cr |
| Operating margin (%) | 32.82% |
| Interest | ₹9 cr |
| Depreciation | ₹14 cr |
| Profit before tax | ₹23 cr |
| Tax | ₹6 cr |
| Net profit | ₹17 cr |
| EPS (₹) | ₹0.42 |
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- Room revenue was the key performance driver during Q1 FY27, while banqueting and F&B moderated.
Guidance & outlook
- The Courtyard by Marriott at WTC Chennai is scheduled to launch in Q3 FY27.
Planned next quarter
- The Courtyard by Marriott at WTC Chennai is planned for launch in Q3 FY27.
Expansion
- The company plans ₹3,600 crore of capex for 1,700 upcoming keys by FY30.
- The company plans ₹2,000–2,200 crore of capex in FY27–FY28 and ₹1,050–1,150 crore in FY29–FY31.
- The upcoming pipeline includes 1,700 keys across projects scheduled from FY27 to FY30 and projects under planning.
New initiatives
- The Kochi Infopark property was rebranded and upgraded from Four Points by Sheraton to Courtyard by Marriott.
- The company is pursuing cost discipline and productivity-led initiatives across its portfolio.
Competition
- The company says its portfolio has superior positioning and low competitive intensity.
Problems & risks
- Banqueting and F&B moderated because of softer corporate and MICE demand, air travel disruptions, inflationary pressures and a dry events calendar.
What to watch
- Whether consolidated operating margin holds above 32.82% as management pursues cost discipline and productivity initiatives.
- Progress toward management's stated Q3 FY27 launch of the Courtyard by Marriott at WTC Chennai.
- Updates on the Rs 3,600 cr capex plan for 1,700 upcoming keys by FY30.