Bangalore, 12th February 2024 : Royal Orchid Hotels Limited, India’s fastest-growing hospitality chain with a diverse portfolio of 100+ Hotels across 60+ locations, announced its consolidated results today for Q3 FY23-24, as approved by its Board of directors.
Key financial highlights:
Highlights of Q3 FY 23-24 V/s Q2 FY 23-24 (Standalone) – Increased by %
· Total Income of Rs. 54.74 CR V/s. Rs. 45.50 CR – 20%
· EBIDTA of Rs. 19.79 CR V/s. Rs. 14.02 CR – 41%
· PAT of Rs. 9.28 CR V/s. Rs. 4.94 CR – 87%
· EPS of Rs. 3.38 V/s. EPS of Rs. 1.80
Highlights of Q3 FY 23-24 V/s Q3 FY 22-23 (Standalone) – Increased by %
· Total Income of Rs. 54.74 CR V/s. Rs. 48.39 CR – 13%
· EBIDTA of Rs. 19.79 CR V/s. Rs. 17.36 CR – 14%
· PAT of Rs. 9.28 CR V/s. Rs. 8.20 CR – 13%
· EPS of Rs. 3.38 V/s. EPS of Rs. 2.99
Highlights of Q3 FY 23-24 V/s Q2 FY 23-24 (Consolidated) -Increased by %
· Total Income Rs. 86.61 CR in V/s. Rs 70.07 CR – 23%
· EBIDTA of Rs. 29.43 CR V/s. Rs. 18.94 CR – 55%
· PAT of Rs. 15.73 CR V/s. Rs. 7.67 CR – 105%
· EPS of Rs 5.60 V/s. EPS of Rs. 2.49
Highlights of Q3 FY 23-24 V/s Q3 FY 22-23 (Consolidated) -Increased by %
· Total Income Rs. 86.61 CR in V/s. Rs. 76.53 CR – 13%
· EBIDTA of Rs. 29.43 CR V/s. Rs 27.75 CR – 6%
· PAT of Rs. 15.73 CR V/s. Rs. 15.18 CR – 3%
· EPS of Rs. 5.60 V/s. EPS of Rs 5.27
IND-AS 116 adoption led to notional increase in depreciation and finance cost of Rs. 5.29 CR leading to reduction in PAT of Rs. 1.17 CR at standalone level (SA) for QE Dec 2023
Commenting on the results, Mr. Chander K. Baljee, Chairman & Managing Director said, “We are pleased to report broad based growth across portfolio and significant accomplishments including opening of 5 significant properties in the last quarter which are a mix of spiritual, business and luxury hotels. The strong performance demonstrates the steadfast devotion and support of our board, the allegiance of our clientele, and the extraordinary zeal and determination of our Royal Orchid Team.”
“Our unwavering commitment remains on value creation for all stakeholders by providing customers with a distinctive hospitality ecosystem that transcends segments, setting examples in local job creation and enhancing local culture, fostering local tourism by focused portfolio building and maintaining a track record of exceptional performance all along.” He added.
About Royal Orchid & Regenta Hotels:
Regenta & Royal Orchid Hotels is one of India’s fastest-growing hotel chains. It primarily operates 5-star, 4-star, and resorts, enabling it to target discerning business and leisure travelers. It currently operates 100+ hotels across India. Promoted by Chander K Baljee, Royal Orchid Hotels has become one of India’s most well-known names in hospitality. Royal Orchid is listed on the Bombay & National Stock Exchanges (BSE & NSE) and is governed by an independent board of eminent directors.
The group has bagged many awards including The National Tourism Award 2008-09 organized by the Ministry of Tourism, Top 50 Brands for 2014 and 2015 by Paul Writer and most recently, the following:
● Mr. Chander Baljee was honored with Lifetime Achievement Award from Hospitality Horizon Awards 2023
● Mr. Chander Baljee was honored with Lifetime Achievement Award from SKAL INDIA 2023
● Mr. Chander Baljee was honored with the Lifetime Achievement Award by EazyDiner at the Ritz-Carlton Bengaluru in 2023.
● Regenta Arie Lagoon in Sri Lanka was recognized as the Best Offshore Resort in MICE & Wedding at the India Travel Award 2023.
● Mr. Chander Baljee received the Best Contribution to the Hospitality Industry award from the South India Hotel and Restaurant Association (SIHRA) at their Annual Convention in 2022.
● Mr. Chander Baljee was featured among India Today’s 10 successful business leaders to watch out for in 2022.
● Mr. Chander Baljee was honored as the Super Star of the Hospitality Industry by AHPWI at the Indian Hospitality Leadership Award 2022.
● Mr. Chander Baljee was inducted into Hotelier India’s CEO Powerlist in 2021.
● Hotelier India conferred the Hall of Fame Award upon Mr. Chander K Baljee, CMD of Royal Orchid & Regenta Hotels in 2021.
● Mr. Chander Baljee received the Lifetime Achievement Award from the International Hospitality Council in association with IIHM Bangalore in 2019.
Our vision is to become the preferred hotel chain for discerning global travelers. The ‘Regenta’ brand is an extension of the Royal Orchid Hotel Group, designed to cater to travelers who value both convenience and affordability. It encompasses various categories, including Regenta, Regenta Central, Regenta Resort, Regenta Place, and Regenta Inn.