Hotel industry is always capital intensive.
I will probably add 2 points in your assumptions :-
-
The appreciation of real estate/rooms , which is usually ~7%(could be more being in Bangalore)
So, net interest would be 3% which would come around 6 Cr. -
From last 2 year OPM% of Samhi is ~30% and will probably remain at around 25%
So considering 2 points above the deal seems fair.
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