ICICI Securities Ltd | Retail Equity Research TajGVK reported a mixed set of Q3FY17 numbers. While revenues were below our estimate, EBITDA and PAT were in line with our estimate. Revenues were flat YoY (up 10.6% QoQ) to | 72.5 crore (below I-direct estimate of | 74.9 crore) Healthy occupancy and stable ARR has kept EBITDA margin robust. EBITDA margin increased 142 bps YoY to 26.5% (vs. I-direct estimate of 26.4%) in Q3FY17 mainly due to a decline in other expenses...