Revenue for Q1FY17 rose by ~29% to INR 61.9cr from INR.48.1cr YoY. Revenue from owned & leased hotel and room chartering increased by ~21%/~36% YoY respectively. EBITDA came in at INR 12.9cr (+31.5% YoY with margin expansion of ~5bps). PAT grew to INR 6.4cr (+37% YoY).BYKE currently trades at 15x FY18E EPS. Motilal Oswal expect the company to grow its profits at 29% CAGR over FY16- 18E and maintain the target price of INR 215 (20x FY18E EPS).