Royal Orchid Hotels Q3 concall highlights –
Sales at 72 vs 52 cr yoy, mainly due to increase in ARR, occupancies and higher F&B sales
EBITDA at 27 vs 19 cr yoy
PAT at 15 vs 6 cr yoy
ARR at Rs 5900 vs Rs 4400 yoy
Aim to be operating 100 – 120 hotels end of FY 24
Board has approval to raise 200 cr NCD. Not going for it right now as the current fund position is comfortable
Growth in next few Qtrs to be as healthy as in the last few Qtrs – According to chairman
Current room capacity at 4600. Aim to add 1000 rooms by Sep23
Expect 15-20 pc of additional rooms via leased model, rest via managed model
Expect a topline of aprox 70 cr for Q4
Expect to close FY 23 with an EBITDA of 95 cr
FY 24 tgts – 375 to 400 cr sales, EBITDA around 120 cr
Disc: holding, biased, not a buy/sell recommendation
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