Management has delivered on growth promise by opening many properties, also have plan to reduce debt by half by q1 ,with this ESP for 24- 25 can cross 30 , will head to 4 digit in a year, hodling since lower levels and will continue to hold.

The entire ethanol space is subdued at present and praj is mainly linked to the same. So when the Ethanol story related stocks start moving, this will follow. Action in Ethanol space will begin post elections due ro sensitivity of the whole spectrum – sugar, rice, millets, husk, grain price + farmers who are biggest vote bank.
I may be wrong completely but thats what its playing out right now. Government flip-flops also indicate the same as they are treading extremely cautious lines and changing goal post at slightest of hint of things going in undesirable direction.

Some key Highlights and answer by management on Concall 06.11.2023
Question: any updates on upcoming projects?
Answer and thread of the answer is interesting:
 Mr. Vikram Oberoi – MD and CEO, EIH Limited: Actually, I just wanted to I think I saw a question from Sanjay as well, I will take that question now, Sanjay’s comment was on the strategy for 2030. And what I would like to mention is we have a vision EIH vision for 2030 which is at a very minimum 50 more hotels with about 4500 additional keys and we are focused on achieving that. You will see there will be some hotels that you will see in our annual report, more recently we announced a Trident Hotel in Tirupati which is done with Mumtaz Hotels and with EIH Associated Hotels in Vizag. As and when we announce projects we will as per stock exchange guidelines inform the stock exchange but we have a number of hotels that are coming to fruition and we will be able to make announcements I hope on an ongoing basis.
 Mr. Amit Agarwal – Participant:
 You said 15 or 50?
 Mr. Vikram Oberoi – MD and CEO, EIH Limited:
 50.
 Mr. Amit Agarwal – Participant:
 50 in the next 7 years?
 Mr. Vikram Oberoi – MD and CEO, EIH Limited:
 That’s correct.
 Mr. Amit Agarwal – Participant:
 How many will be managed and how many will be owned?
 Mr. Vikram Oberoi – MD and CEO, EIH Limited:
 It will be a combination of owned and managed.

Question 2
Mr. Saurabh Patwal – Participant:

• Yeah. Yeah. So, thanks a lot for highlighting the big picture of your expansion. I just wanted your thoughts on two things. One is, our strategic partnership with Mandarin, which is the past you have highlighted, and also Reliance Industries announced three hotels in partnership with EIH. What would your thoughts and what’s EIH contribution to that partnership?

• Mr. Vikram Oberoi – MD and CEO, EIH Limited:

• So, would you like me to answer for both?

• Mr. Saurabh Patwal – Participant:

• Yeah.

• Mr. Vikram Oberoi – MD and CEO, EIH Limited:

• Okay. Yes, that’s correct, there was three hotels Reliance had made a press release and those details are in that and we look forward to developing those hotels and also other hotels with Reliance, I hope, in the future. As of now, it’s only those three hotels that Reliance had announced. As far as Mandarin goes, really the objective was to bring benefit to our guests and Mandarin guests, to bring benefits to our colleagues. So, there would be learning opportunities from each other. And those were really the two objectives and we continue to work on those fronts so that we can offer greater value, greater experience to Mandarin guests and vice versa and also enrich the experience of our colleagues, both for Oberoi group and for Mandarin.

Thnx. Helped to clear concept.

However here in case of ACE they purchase under employee welfare trust and therefore as it is not ESOP trust my understanding…
Current purchase is not for ESOP purchase.

Is that right to concude?

Haven’t attended any concall after recent acquisition after Atraco group, here is the latest [Rating Update] from Crisil (Rating Rationale)