Owns and operates 9 hotels (1,604 keys) across South India under Marriott, Accor and IHG brands.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 138 | +9.5% YoY | Quarterly, as filed | Quarter to Sept 2026 | Revenue from operations as filed. |
| Operating margin | 35.0 | +5.0 pts YoY | Operating profit / revenue | Quarter to Sept 2026 | For the quarter; a change is in percentage points. |
| Net profit | 22.0 | +100.0% YoY | Quarterly, as filed | Quarter to Sept 2026 | Profit after tax as filed. |
| Return on equity | 7.94 | −13.4 pts | Trailing twelve months | TTM to Sept 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -11.43 | −23.0 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 6.30 | −4.2 pts | Trailing twelve months | TTM to Sept 2026 | Revenue change against the same period one year earlier. |
Guidance
2 of 4 judged targets kept · 18 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Kochi Hotel Upgrade | Upgrade from 'Four Points' to 'Courtyard by Marriott' in Q1 FY27. | Q4 FY26 | Upgrade completed in Q1 FY27 as planned. The property is now 'Courtyard by Marriott Kochi Infopark'. | Achieved |
| F&B Revenue Growth | High teens growth going forward. | Q3 FY26 | F&B revenue was significantly impacted by MICE cancellations (approx. INR 8.4 cr impact on F&B). This is the second consecutive quarter of missing the 'high teens' growth guidance. | Missed |
| Grand Hyatt Chennai CRZ Approval | Receive CRZ environmental clearance in FY26. | Q3 FY26 | Management explicitly confirmed a 'slight delay' in the Grand Hyatt project due to pending approvals, confirming the original FY26 deadline was missed. | Delayed |
2 of Brigade Hotel Ventures Limited's 22 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 19 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: ₹81.33 on 24 Oct 2025 → ₹52.73. High ₹83.88 (29 Oct 2025), low ₹51.04 (23 Oct 2026).
Overview
Based on the company's own presentations, annual report and earnings calls.
Brigade Hotel Ventures Limited (BHVL) is an owner and developer of hotels in key cities, primarily across South India, and is a subsidiary of listed real-estate group Brigade Enterprises Limited. Its portfolio spans luxury, upper-upscale, upscale, upper-midscale and midscale hotels operated under global brand tie-ups with Marriott International, Accor and IHG Hotels & Resorts. Alongside guest rooms, its hotels house food & beverage outlets and MICE (meetings, incentives, conferences and exhibitions) banquet space. The company earns from room stays, F&B and other hotel services, and is expanding via a pipeline of new hotels in high-growth corporate and leisure markets.
Segments
close before → close after
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Guidance
2 of 4 judged targets kept · 18 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Kochi Hotel Upgrade | Upgrade from 'Four Points' to 'Courtyard by Marriott' in Q1 FY27. | Q4 FY26 | Upgrade completed in Q1 FY27 as planned. The property is now 'Courtyard by Marriott Kochi Infopark'. | Achieved |
| F&B Revenue Growth | High teens growth going forward. | Q3 FY26 | F&B revenue was significantly impacted by MICE cancellations (approx. INR 8.4 cr impact on F&B). This is the second consecutive quarter of missing the 'high teens' growth guidance. | Missed |
| Grand Hyatt Chennai CRZ Approval | Receive CRZ environmental clearance in FY26. | Q3 FY26 | Management explicitly confirmed a 'slight delay' in the Grand Hyatt project due to pending approvals, confirming the original FY26 deadline was missed. | Delayed |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 22 tracked commitments, with each call’s wording and source.
Call summaries
Brigade Hotel Ventures Limited Q1 FY27
Brigade Hotel Ventures Limited delivered a strong Q1 FY27, with significant profit growth driven by robust RevPAR improvement and reduced finance costs. Despite geopolitical headwinds impacting MICE and foreign travel, the company leveraged domestic demand and strategic pricing to achieve a 140% PAT increase. The company is also progressing on its expansion pipeline and maintaining a net cash position.
Read the full callBRIGHOTEL Q4 FY26
Brigade Hotel Ventures Limited reported a strong FY26 with 15% YoY growth in both total income and EBITDA, and a 174% surge in PAT. Q4 FY26 also saw robust performance with 8% income growth and 13% EBITDA growth, despite some cancellations due to geopolitical events and the impact of GST 2.0. The company maintained strong operational metrics with a 7% increase in ARR and 78% occupancy, and outlined strategic capex plans for future growth.
Read the full callBRIGHOTEL Q3 FY26
Brigade Hotel Ventures Limited delivered a strong Q3 FY26, with robust growth in total income, EBITDA, and PAT, supported by healthy ARR and RevPAR. The company is actively pursuing an ambitious expansion pipeline of 1,700 new keys, funded by a mix of internal accruals and future debt, while maintaining a strong net cash position. Management highlighted the impact of GST 2.0 on margins for rooms priced below INR7,500 and outlined strategies to improve ADR.
Read the full callEvery analysed call
Fundamentals
Current values with the period they cover; the trend reads across the 4 fiscal years held (Mar 2023 to Mar 2026).
Financials
Net profit, year on year: +100% (quarter to sept 2026 against sept 2025).
| Line item | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 124 | 134 | 124 | 126 | 139 | 136 | 127 | 138 |
| Expenses | 81 | 84 | 83 | 89 | 91 | 88 | 85 | 90 |
| Operating profit | 43 | 50 | 41 | 37 | 47 | 49 | 42 | 48 |
| Operating margin | 35.0% | 38.0% | 33.0% | 30.0% | 34.0% | 36.0% | 33.0% | 35.0% |
| Other income | 1 | 1 | 1 | 4 | 4 | 9 | 4 | 4 |
| Interest | 17 | 19 | 19 | 14 | 9 | 10 | 9 | 10 |
| Depreciation | 14 | 14 | 13 | 14 | 13 | 14 | 14 | 13 |
| Profit before tax | 13 | 18 | 10 | 14 | 29 | 34 | 23 | 29 |
| Tax rate | 24.0% | 27.0% | 26.0% | 25.0% | 25.0% | 26.0% | 25.0% | 25.0% |
| Net profit | 10 | 13 | 7 | 11 | 22 | 25 | 17 | 22 |
| EPS (₹ per share) | 0.30 | 0.40 | 0.22 | 0.24 | 0.53 | 0.60 | 0.42 | 0.52 |
| Line item | Mar 2025 | Mar 2026 |
|---|---|---|
| Sales | 468 | 525 |
| Expenses | 305 | 351 |
| Operating profit | 163 | 174 |
| Other income | 2 | 18 |
| Interest | 72 | 52 |
| Depreciation | 49 | 54 |
| Profit before tax | 45 | 87 |
| Net profit | 24 | 65 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 | Sept 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 1 | 1 | 281 | 380 | 380 | 380 |
| Reserves | -241 | -216 | -196 | 538 | 578 | 615 |
| Borrowings | 982 | 1,001 | 759 | 347 | 309 | 382 |
| Other liabilities | 99 | 100 | 103 | 137 | 115 | 139 |
| Total liabilities | 841 | 887 | 948 | 1,402 | 1,382 | 1,516 |
| Fixed assets | 628 | 652 | 732 | 902 | 906 | 927 |
| Capital work in progress | 29 | 72 | 20 | 36 | 96 | 193 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 183 | 163 | 196 | 464 | 381 | 396 |
| Total assets | 841 | 887 | 948 | 1,402 | 1,382 | 1,516 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Debtor days | 22 | 20 | 18 | 16 |
| Cash conversion cycle | 22 | 20 | 18 | 16 |
| Working capital days | -160 | -74 | -106 | -53 |
| Return on capital employed | — | 13.0% | 14.0% | 13.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
Ownership
Promoters hold 74.09% as of Sept 2026; institutions cut 0.60 pts since Jun 2026.
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.
Named in the Sep 2026 filing
Every holder of Brigade Hotel Ventures Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 74.09% | unchanged | |
| Mutual fund | 4.52% | −0.87 pp |
| Mutual fund | 2.48% | unchanged |
| Mutual fund | 2.44% | unchanged |
| Mutual fund | 1.79% | +0.05 pp |
| Mutual fund | 1.64% | +0.50 pp |
| Mutual fund | 1.45% | unchanged |
| Mutual fund | 1.16% | unchanged |
| AIF | 1.05% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Filings to Sep 2026
0 new, 0 added, 2 trimmed, 0 sold out — net −24.05 L shares (−12.4%).
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI MultiCap Fund SBI Mutual Fund | ₹32 Cr | −20.22 L | Jul '25 |
| SBI Children's Fund - Investment Plan (Erstwhile known as SBI Magnum Children's Benefit Fund- IP) SBI Mutual Fund | ₹31 Cr | held | Jul '25 |
| SBI Retirement Benefit Fund - Aggressive Plan SBI Mutual Fund | ₹21 Cr | held | Jul '25 |
| SBI Retirement Benefit Fund - Aggressive Hybrid Plan SBI Mutual Fund | ₹9 Cr | held | Jul '25 |
| SBI Consumption Opportunities Fund SBI Mutual Fund | ₹4 Cr | −3.83 L | Jul '25 |
| SBI Retirement Benefit Fund - Conservative Hybrid Plan SBI Mutual Fund | ₹1 Cr | held | Jul '25 |
| SBI Retirement Benefit Fund - Conservative Plan SBI Mutual Fund | ₹0 Cr | held | Jul '25 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Sep 2026
0 added, 2 trimmed — net −24.05 L shares (−12.4%)
Shares held by these funds +18%
Jul '25 1.70 cr shares Sep '26
Your own record
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