Same-store revenue rose 17% as Kamat Hotels added four properties
Management said cost optimisation, digitisation and new projects will support its 30%+ EBITDA margin target.
Filed 11 Aug 2026, 18:26 IST · after market close · KAMATHOTEL (KAMATHOTEL)
Key takeaways
- On a same-store basis, consolidated Q1FY27 revenue grew 17% and EBITDA grew 21% after excluding the IRA Mumbai closure and four hotel additions.
- Reported operating margin was 27.19%, while management said it is targeting EBITDA margins above 30% through cost optimisation.
- Consolidated net profit of Rs 9.69 cr included Rs 2.48 cr of other income, making operating earnings quality an important read-through.
Like-for-like growth offset portfolio changes
The consolidated quarter included the closure of IRA Mumbai effective April 1, 2026, and four hotel additions, making reported growth harder to read in isolation. Excluding those changes, management reported 17% revenue growth and 21% EBITDA growth on a same-store basis. The four additions were Orchid Panchagani, Rishikesh, and IRA by Orchid properties in Hyderabad and Bhavnagar.
Operating margin remains below the stated EBITDA ambition
The reported operating margin was 27.19%, with expenses at Rs 65.92 cr against revenue of Rs 90.54 cr. The presentation sets a 30%+ EBITDA margin target, which is a different measure from operating margin. Management said it plans to improve unit-level efficiency through cost optimisation; other income of Rs 2.48 cr also contributed to profit before tax of Rs 13.58 cr.
Management links growth to RevPAR and expansion
Management said it plans to pursue topline growth through optimal RevPAR and newer projects in its pipeline. It also said the company will strengthen digital media sales and online marketing, while expanding its brand portfolio and presence in high-growth cities. These plans accompany the reported same-store growth rather than replacing the effect of the portfolio changes in this quarter.
Results were filed after market close
The consolidated results were filed after market close on 11 August 2026. There is therefore no trading reaction to assess yet.
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 | ₹91 cr |
| Other income | ₹2 cr |
| Expenses | ₹66 cr |
| Operating profit | ₹25 cr |
| Operating margin (%) | 27.19% |
| Interest | ₹6 cr |
| Depreciation | ₹8 cr |
| Profit before tax | ₹14 cr |
| Tax | ₹4 cr |
| Net profit | ₹10 cr |
| EPS (₹) | ₹3.19 |
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- On a same-store basis, revenue grew 17% and EBITDA grew 21% in Q1-FY27, excluding the stated closure and hotel additions.
- Four hotels were added during Q1-FY27: Orchid Panchagani and Rishikesh, IRA by Orchid in Hyderabad and Bhavnagar.
Guidance & outlook
- The company plans topline growth through optimal RevPAR and newer projects in its pipeline.
- The company plans to improve unit-level operating efficiency through cost optimization.
- The company plans to strengthen digital media sales and online marketing through digitization.
- The company plans to strengthen its brand portfolio and expand across the country, focusing on high-growth cities.
- The company is targeting EBITDA margins above 30%.
Problems & risks
- The presentation notes the closure of IRA Mumbai effective April 1, 2026.
What to watch
- Whether same-store revenue growth changes from the reported 17% after the IRA Mumbai closure and four hotel additions.
- Whether operating margin improves from 27.19% as management discusses cost optimisation.
- Whether EBITDA margin moves toward the stated 30%+ target.