On the margin front, the EBITDA margin declined 127 bps YoY to 22.7% (below I-direct estimate of 23.1%) mainly due to a fall in revenues and higher employee expenses (up 7.2% YoY) On a standalone basis, the company reported a net profit of | 2.3 crore. At the consolidated level, net profit was at | 87 lakh mainly due to a loss of | 1.4 crore from Mumbai property (Taj Santacruz) Improving ARR, occupancy in Telangana to drive growth The occupancy in Telangana declined from 59.0% in 2011 to 51.0% in...