SAMHI delivers strong Q4 & FY25 growth & cuts debt via GIC deal

SAMHI Hotels Limited has announced its audited Standalone and Consolidated results for the quarter and year ended 31^st March 2025

Commenting on the performance, Ashish Jakhanwala, Chairman & Managing Director, SAMHI Hotels Ltd. said, “The results for Q4 and FY2025 performance reflects SAMHI’s focus on expanding high-quality hotel portfolio, driving strong revenue growth, and delivering robust EBITDA performance. Positive momentum in room rates, effective portfolio management, and disciplined execution continue to reinforce our leadership in the hospitality sector.

We are pleased to announce the completion of our strategic partnership with GIC, a globally respected long-term investor. Together, we have launched a dedicated Upscale+ hotel investment platform—an important milestone that speaks to the strength of our operating model, the quality of our assets, and our capability to execute value-accretive strategies at scale. The initial seed portfolio of over 1,000 rooms in key commercial hubs like Bengaluru and Pune underscores our commitment to high-demand, high-barrier-to-entry markets.

Post the GIC deal, our Net Debt to EBITDA stands at 3.2x, enabling us to fund growth efficiently while maintaining financial discipline.

Looking ahead, we remain focused on scaling efficiently, strengthening margins, and enhancing shareholder value. With a future-ready platform, strong institutional backing, and a clear roadmap for growth, we are confident in our ability to continue delivering strong, sustained returns for our stakeholders.”

Key Highlights for Q4FY25:

RevPAR¹ at Rs. 5,958 up 20.6% on a YoY basis demonstrate strong business demand across key markets with established larger base of demand and continued growth in commercial activities across key markets driving RevPAR growth.
Occupancy stood at 75% for Q4FY25.
Asset Income and Asset EBITDA grew YoY by 13.6% and 17.7% respectively. Q4FY25 Asset Income and Asset EBITDA YoY change % on a same store basis is 15.8% and 22.0% respectively. Same store growth & positive impact of ACIC acquisition led to strong growth in income and EBITDA.
The Finance cost decreased to 9.2% as of May 15, 2025, compared to 9.4% as of December 31, 2024.

Key Highlights for FY25:

RevPAR¹ at Rs. 5,015 up 16.5% on a YoY basis. Occupancy stood at 74% for FY25.
Asset Income and Asset EBITDA grew YoY by 17.7% and 21.2% respectively.
ESOP costs stood at Rs. 177 Mn which is expected to reduce to ~Rs. 100 Mn in FY26

¹ Based on same store, i.e., excludes the ACIC Portfolio acquired in Aug’23, Trinity acquired in Oct’24, Holiday Inn Express Greater Noida (renovated and reopened in Dec’24 and Caspia Delhi (under renovation)

Consolidated Financial Highlights: (SAMHI Hotels)

In Rs. Mn	Q4FY25	Q4FY24	*YoY%*	FY25	FY24	*YoY%*
Asset Income	3,195	2,813	*13.6%*	11,333	9,630	*17.7%*
Asset EBITDA	1,370	1,163	*17.7%*	4,576	3,777	*21.2%*
Asset EBITDA%	42.9%	41.4%		40.4%	39.2%
Net Corporate G&A	-62	-87		-142	-293
Consolidated EBITDA (pre-ESOP & one-time expenses)	1,307	1,077	*21.4%*	4,434	3,484	*27.3%*
ESOP & One-Time Expenses	-44	-115		-177	-606
Consolidated EBITDA(Reported)	1,263	962	*31.3%*	4,257	2,879	*47.9%*
PAT	459	113		855	-2,346

Debt Profile:

In Rs. Mn	Mar 31, 2024	Mar 31, 2025	Post GIC (as on date)
Net Debt	18,242	19,669	14,289
TTM EBITDA¹	3,681	4,434	4,434
Net Debt : EBITDA	4.9x	4.4x	3.2x
Interest Rate	9.8%	9.2%²	9.2%
Annualised Interest Cost³	1,990	1,900	1,430

¹ Excluding ESOP & One-time Expenses
² As on 15th May 2025
³Does not include non-cash finance cost items such as interest on lease, EIR, etc. which are charged to P&L