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Jefferies on Indian Hotels

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Jefferies on Indian Hotels (Investor meet takeaways) Buy, TP raised to Rs 380 Raise FY23-25 EBITDA est. by 14-19% Runrate of occupancies/ARRs strong Confident on margins, biz mix under Ahvaan-25 strategy Focused on BS/FCF Resolution for Int’l & Searock Inv in 2-3yrs

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