Jm Financial Limited
ICICI Securities Limited
Brigade Hotel Ventures Limited is the owner and developer of hotels in key cities in India, primarily across South India. The company is a wholly-owned subsidiary of BEL, which is one of the leading Indian real estate developers in India.
The company owns chain-affiliated hotels and rooms in South India (comprising the states of Kerala, Andhra Pradesh, Tamil Nadu, Karnataka, Telangana, and the Union territories Lakshadweep, Andaman and Nicobar Islands and Pondicherry) among major private hotel asset owners (i.e., owning at least 500 rooms pan India) as of March 31, 2025. The hotels provide a comprehensive customer experience, including fine dining and specialty restaurants, venues for meetings, incentives, conferences, and exhibitions (“MICE”), lounges, swimming pools, outdoor spaces, spas, and gymnasiums.
The company have a portfolio of nine operating hotels across Bengaluru (Karnataka), Chennai (Tamil Nadu), Kochi (Kerala), Mysuru (Karnataka) and the GIFT City (Gujarat) with 1,604 keys. The company’s hotels are operated by global marquee hospitality companies such as Marriott, Accor and InterContinental Hotels Group.
For the year/period ended (Rs. in Cr.)
| FY25 | FY24 | FY23 | |
|---|---|---|---|
| Total Revenue | 470.68 | 404.85 | 356.41 |
| Profit After Tax | 23.66 | 31.14 | (3.09) |
| EPS | 0.72 | 0.88 | (0.14) |
| OPM (%) | 35.45% | 35.72% | 31.98% |
| PATM (%) | 5.03% | 7.69% | (0.87%) |
For year/ period ended ( in Cr.)
| Company Name | Market Cap (Cr.) | Price | P/BV | P/E | Sales (Cr.) FY25 |
Net Profits(Cr.) FY25 |
|---|---|---|---|---|---|---|
| Brigade Hotel Ventures Ltd. | *3418.47 | 90 | 32.25 | 125 | 470.68 | 23.66 |
| EIH Associated Hotels Ltd. | 2,396.93 | 393.35 | 4.47 | 26.1 | 408.24 | 91.85 |
| ITC Hotels Ltd. | 52,366.09 | 251.5 | 4.85 | 82.12 | 3,525.86 | 621.77 |
| Royal Orchid Hotels Ltd. | 1,198.21 | 436.9 | 4.85 | 25.36 | 319.47 | 43.13 |
*Market cap @upper band
The Company is engaged in owning and developing hotels, with prime focus on Southern region. Based on recent financials, the issue prima facie appears aggressively priced. Hence, Well-informed investors subscribe for long term.
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