Mumbai, Aug 11 (IANS) Brigade Hotel Ventures’ net profit for the first quarter of the current financial year (Q1 FY26) stood at Rs 7.16 crore, declining 45 per cent sequentially, according to an exchange filing on Monday.
The affiliated hotel chain firm had posted a net profit of Rs 13.11 crore in the preceding quarter (Q4 FY25). However, the company returned to profit year-on-year (YoY) as it had reported a loss of Rs 5.78 crore in the same quarter a year ago (Q1 FY25).
Meanwhile, Brigade Hotel Ventures’ total income stood at Rs 125 crore for the quarter under review, down 7 per cent quarter-on-quarter from Rs 135 crore in the January-March period. However, the revenue rose by over 20 per cent from Rs 102 crore in the corresponding quarter a year earlier.
The company reported its total expenses for the quarter at Rs 115.41 crore, slightly down from Rs 117 crore in the preceding quarter, but jumping significantly from Rs 97 crore in Q1 FY25.
“Our Q1 performance reflects the strength of our diversified portfolio and our ability to navigate market challenges while capturing new opportunities. With disciplined pricing, strategic market positioning, continued focus on optimising operating costs and a sharp focus on guest experience, we have sustained growth momentum across key markets,” Brigade Hotel Ventures Limited Managing Director Nirupa Shankar said.
The improved performance in GIFT City and the rapid ramp-up of ibis Styles Mysuru demonstrate our agility in tapping high-growth segments, he added.
In line with Brigade Group’s ESG commitment, the entire BHVL portfolio is now EDGE-certified (Excellence in Design for Greater Efficiencies), a globally recognised green building standard by the International Finance Corporation (IFC), as per the filing.
According to the company, leveraging IPO proceeds and strong operating cash flows, BHVL is well-positioned to accelerate its growth after the successful completion of its IPO. Over the next four to five years, the company plans to double its key count and open nine new hotels.
–IANS
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