Brigade Hotel Ventures LimitedQ2 FY27 Results & Financial Update
Brigade Hotel Ventures Limited: Q2 FY27 consolidated results and company financials – revenue ₹18.60 Cr, PAT ₹4.06 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Brigade Hotel Ventures Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Brigade Hotel Ventures Limited registered consolidated revenue from operations of ₹138.24 crore (reported as ₹13,824 lakh) for the second quarter ended September 30, 2026, marking an increase compared to ₹127.04 crore in the preceding first quarter of FY27 and ₹125.72 crore in the corresponding quarter of the previous fiscal year.
Total consolidated income for Q2 FY27 reached ₹142.36 crore, moving upward from ₹130.83 crore reported in Q1 FY27 and ₹129.80 crore in the same period a year ago.
According to the company's press release, operating performance for the quarter benefited from a rebound in MICE (Meetings, Incentives, Conferences, and Exhibitions) activity following a muted first quarter, highlighted by a large electronics conference in Bengaluru that bolstered both room nights and food and beverage revenues.
Average Room Revenue (ARR) across the portfolio reached ₹7,876 during the quarter, representing an 11% year-on-year increase, while RevPAR rose 10% year-on-year to ₹5,922 alongside an average occupancy rate of 75.2%.
Food and beverage (F&B) revenue contributed ₹46 crore to the quarterly top line, reflecting a 10% increase over the ₹42 crore recorded in the corresponding period of the previous year.
01 · Business model
What does Brigade Hotel Ventures do?
Brigade Hotel Ventures Limited (BHVL) is an owner and developer of hotel properties located across key cities in India, primarily concentrated in South India. The company operates as a subsidiary of Brigade Enterprises Limited, one of India's prominent real estate developers.
The company's portfolio features nine operating hotels encompassing 1,602 keys spread across Bengaluru, Chennai, Kochi, Mysuru, and GIFT City in Gujarat. These assets span upper-upscale, upscale, upper-midscale, and midscale segments.
Property operations are managed through franchise or operating agreements with global hospitality brands including Marriott, Accor, and InterContinental Hotels Group (IHG), positioning the company to capture diverse corporate and leisure demand streams.
02 · Historical context
What shaped the business before this quarter
The company completed its Initial Public Offering (IPO) comprising a fresh issue of 84,412,565 equity shares aggregating to ₹75,960 lakh, alongside a pre-IPO placement of 14,000,000 equity shares aggregating to ₹12,600 lakh, with equity shares listing on NSE and BSE on July 31, 2025.
03 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹18.60 Cr | ₹127.04 Cr |
| Profit after tax | ₹4.06 Cr | ₹17.34 Cr |
Financial interpretation
What the reported numbers mean
Profit after tax represented 21.8% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue expansion was supported by a revival in MICE demand after a subdued Q1 FY27, reinforced by large-scale corporate events and conferences in Bengaluru that lifted occupancy and F&B consumption.
Portfolio-wide Average Room Revenue grew 11% year-on-year to ₹7,876, while RevPAR advanced 10% year-on-year to ₹5,922, driven by steady demand and asset positioning.
What drove margins
Finance costs for the quarter were reported at ₹9.70 crore, compared to ₹8.71 crore in the preceding quarter and ₹13.52 crore in the corresponding quarter of the previous year.
Other expenses stood at ₹51.17 crore for the quarter, compared to ₹49.63 crore in Q1 FY27 and ₹52.23 crore in Q2 FY25.
05 · Segments, products & geography
Which parts of the business are doing the work
Geography and market mix
The Bengaluru market recorded an 8% year-on-year increase in ARR to ₹9,422 and a 12% increase in RevPAR to ₹7,611, aided by major conference activity.
06 · Strategy & new businesses
How the company is trying to change its growth mix
Management stated that the company remains on track to launch the Courtyard by Marriott Chennai World Trade Centre.
Management reiterated its objective to double its hotel portfolio by FY30 with an increasing concentration in luxury and upper-upscale segments.
07 · Reported developments
What changed operationally
Consolidated profit after tax for Q2 FY27 rose to ₹21.95 crore from ₹10.60 crore in the corresponding quarter of the previous year.
08 · Pressure points & risks
What is not going smoothly
Statutory auditors drew attention to ongoing legal proceedings regarding municipal property tax demands totaling ₹9,222 lakh (against which ₹4,093 lakh has been paid under protest and ₹510 lakh provided for) and an income tax survey conducted in December 2025.
09 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Out of gross IPO proceeds of ₹68,464 lakh, ₹48,368 lakh had been utilised up to previous periods, leaving unutilised proceeds of ₹20,096 lakh temporarily invested in bank deposits and current accounts as of September 30, 2026.
Capital allocation & funding
As of September 30, 2026, the company reported non-current borrowings of ₹85.10 crore and current borrowings of ₹89.91 crore on a consolidated basis.
10 · Management guidance & targets
What management is targeting from here
Management reported that October trends and enquiries point to a strong Q3 supported by festive, wedding, and MICE demand.
11 · Beyond the numbers
What changed beyond the numbers
Reported update
Portfolio Positioning
The company is noted as the second-largest owner of chain-affiliated hotels and rooms in South India among major private hotel asset owners.
12 · Previous-quarter changes
What changed since the previous quarter
Consolidated revenue from operations increased to ₹138.24 crore in Q2 FY27 from ₹127.04 crore in Q1 FY27.
13 · Key Q&A
The quarter, answered directly
What does Brigade Hotel Ventures do?
Brigade Hotel Ventures Limited (BHVL) is an owner and developer of hotel properties located across key cities in India, primarily concentrated in South India. The company operates as a subsidiary of Brigade Enterprises Limited, one of India's prominent real estate developers.
What is the clearest takeaway from Q2 FY27?
Brigade Hotel Ventures Limited registered consolidated revenue from operations of ₹138.24 crore (reported as ₹13,824 lakh) for the second quarter ended September 30, 2026, marking an increase compared to ₹127.04 crore in the preceding first quarter of FY27 and ₹125.72 crore in the corresponding quarter of the previous fiscal year.
What drove revenue or demand?
Revenue expansion was supported by a revival in MICE demand after a subdued Q1 FY27, reinforced by large-scale corporate events and conferences in Bengaluru that lifted occupancy and F&B consumption.
What mattered most for margins or profitability?
Finance costs for the quarter were reported at ₹9.70 crore, compared to ₹8.71 crore in the preceding quarter and ₹13.52 crore in the corresponding quarter of the previous year.
What changed operationally beyond the headline numbers?
Management stated that the company remains on track to launch the Courtyard by Marriott Chennai World Trade Centre.
What is management guiding or targeting from here?
Management reported that October trends and enquiries point to a strong Q3 supported by festive, wedding, and MICE demand.
14 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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15 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Litigation Updates: Developments concerning municipal property tax litigation and income tax survey proceedings.
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