Apeejay Surrendra Park Hotels Q3 Results: Co recorded total income of Rs 164 crore and PAT of Rs 27.4 crore.
The company said its total revenue for the first nine months of this fiscal rose 14% year-on-year to Rs 436 million. Profit after tax stood at Rs 50.4 crore, translating to an after-tax margin of 12 per cent in the first nine months of this fiscal.
ASPHL raised Rs 920 crore through IPO by issuing fresh shares worth Rs 600 crore and offering for sale worth Rs 320 crore. We opened five new hotels in the first nine months of this financial year, bringing our total to 30 hotels.
Chairman Priya Paul said the company had recorded its best-ever financial results for the three quarters to date.
“While our revenue, EBITDA and profit after tax performance have been solid, our operating performance has been equally encouraging, including an impressive 14% growth in RevPAR and an industry-leading 90% occupancy rate. These achievements were achieved through a combination of our strategy and growth initiatives along with favorable industry trends,” she said.
“We used the IPO proceeds to prepay long-term loans, strengthen our balance sheet, and transition ASPHL to a net debt position. We believe that this strong financial position will allow us to more aggressively pursue our growth plans and strengthen our operating position in the sector,” she added. The five new hotels added to the portfolio include Zone by THE Park Gopalpur, Zone by THE Park Dimapur. , Zone Connect Mussoorie, Zone Connect Indore and Zone Connect Udaipur. The chain also opened two new motels in the first nine months of this financial year, including Stop by Zone Nandakumar and Stop by Zone Simbulbari.
