Apeejay Surrendra Park Hotels Ltd. share price target

Apeejay Surrendra Park Hotels Ltd.'s (ASPHL) Q3FY26 result was in-line with our estimates on key parameters. The management guided that the Indian hospitality sector is experiencing a sustained uptrend, driven by a robust recovery in corporate travel, a thriving wedding season, and resilient domestic leisure demand across major urban and vacation hubs. The company recently completed the acquisition of a 76% stake in a Juhu Mumbai property and expanded into Kerala by acquiring the Malabar House and Purity resorts under the Park Collection. The management plans to add 672 keys over the next 14...

Apeejay Surrendra Park Hotels Ltd.'s (ASPHL) Q1FY26 was in-line with our estimate on net sales and EBITDA front, while net profitability disappointed. The company during the quarter witnessed an increase of 13% YoY in ARR at Rs7,335, and 11.5% in RevPAR at Rs6,751. While occupancy for Q1FY26 stood at 92%. Total Revenue from the F&B segment stood at Rs660mn during Q1FY26, contributing 42% to the total revenue. Revenue from management contracts in Q1FY26 was Rs40mn. This division is expected to generate over Rs200mn in revenue by year-end, potentially reaching Rs250mn with new additions. The...

Apeejay Surrendra Park Hotels Ltd.'s (ASPHL) Q4FY25 result was broadly in-line with our estimates on net sales and EBITDA front, while net profitability disappointed. The company witnessed an increase of 13% YoY in both ARR at 8,758, and RevPAR at 8,074, while occupancy stood at 92%. The management reiterated high teens growth for FY26E, which is encouraging. ASPHL intends to double its key count to about 5400 keys in the next 5 years including 1,011 keys of its own. In Q4FY25 ASPHL signed a binding MoU for the acquisition 60 service apartment under Zillion Hotels and Resorts at Juhu, Mumbai. Further, the...

Check-in for Returns

IPO NOTE