Brigade Hotel Ventures' Q2 profit reaches ₹22 crore as interest costs fall

Brigade Hotel Ventures Limited, the hospitality arm of Bengaluru-based Brigade Group, reported consolidated net profit of ₹22 crore for the quarter ended 30 September 2026, up 105 per cent year on year. The company released the results on 26 October 2026, and they cover the second quarter of FY27.

Consolidated total revenue was ₹142 crore, a 10 per cent increase. Revenue from operations rose 10 per cent to ₹138 crore from ₹126 crore a year earlier. EBITDA reached ₹52 crore, up 26 per cent from ₹41 crore, and the EBITDA margin widened to 36.7 per cent from 31.8 per cent. Profit after tax margin was 15.4 per cent, up 720 basis points.

What drove the quarter

The company attributed the profit gain to two factors: lower finance costs after debt repayment from IPO proceeds, and better operating performance. Finance costs fell to ₹9.7 crore from ₹13.5 crore.

On the operating side, average room revenue rose 11 per cent to ₹7,876, and revenue per available room rose 10 per cent to ₹5,922. Occupancy was 75.2 per cent. Room revenue was ₹87 crore and food and beverage revenue was ₹46 crore, against ₹42 crore a year earlier. The company said the improvement came from higher room rates and better cost control.

Managing director Nirupa Shankar said the company was pleased with the second-quarter performance despite uncertainty linked to the West Asia crisis, and that it enters the second half with confidence.

For the first half of FY27, total income was ₹273 crore, up 7 per cent. EBITDA reached ₹98 crore, up 18 per cent, at a margin of 35.8 per cent. Profit after tax rose 122 per cent to ₹39 crore. Standalone net profit after tax for the quarter was ₹1,789 lakh.

Watch points

• Portfolio occupancy was flat at 75 per cent. Occupancy in markets outside Bengaluru fell from 74 per cent to 70 per cent.
• The Courtyard by Marriott Kochi Infopark saw occupancy decline after rebranding. Management expects the dip to be temporary.
• GST 2.0 implementation reduced EBITDA by 1.4 per cent in the quarter.
• The statutory auditor drew attention to an income tax survey conducted in December 2025 under Section 133A. The company had not received a demand or show-cause notice as of the filing date.

The company's balance sheet showed a current ratio of 2.23 and a debt-to-equity ratio of 0.11. It held ₹200.96 crore of IPO proceeds in bank deposits and current accounts. The company has a ₹3,600 crore plan to add 1,700 hotel keys by 2030.

The quarter also came against a supportive city backdrop. Hotelivate and Savills data for 16 October 2026 showed Bengaluru and Hyderabad leading RevPAR growth among 20 major hotel markets, at 14.8 per cent and 13.2 per cent respectively.

What investors will watch

No analyst consensus estimate for earnings or revenue was available for the quarter, so the result cannot be measured against expectations. The next step is the Courtyard by Marriott Chennai, a 45-key property expected to open in H2 FY27, likely in March 2027. The company has said it will be in ramp-up mode and contribute only modestly to FY27 results. The date of the next quarterly results was not found in the company's disclosures.