EIH Ltd., a member of The Oberoi Group, has achieved record financial results for the second quarter of fiscal year 2024-25 (Q2 FY25), underscoring its robust growth and unwavering commitment to excellence in luxury hospitality, said a company issued release. According to key financial highlights published by the company for Q2, FY25, standalone results were as follows: Revenue has grown 14 percent YoY to INR 558 crore; EBITDA is up 27 percent YoY at INR 189 crore; and PAT (Profit after tax) is up by 34 percent to INR 114 crore. The consolidated results for the same period are: Revenue up 13 percent YoY at INR 623 crore; EBITDA up 26 percent to INR 208 crore; and PAT up 41 percent to INR 133 crore. Strategic expansion and growth plansAligned with EIH Ltd.’s ambitious vision, the company has a pipeline of 20 properties to be completed by 2029, comprising 17 hotels, 2 luxury boats, and a Nile Cruiser. This expansion includes:—Nine hotels to be owned, invested in, and operated directly or through joint ventures by EIH Limited.—11 properties (including the 2 luxury boats and a Nile cruiser) to be managed by The Oberoi GroupThe pipeline spans 11 hotels in India and 9 international hotels in destinations such as London, Egypt, Bhutan, Nepal, and Saudi Arabia. Upon completion, 16 hotels (including 2 boats and a Nile Cruiser) will operate under the Oberoi brand and 4 hotels under the Trident brand comprising a total inventory of approximately 1,350 keys. Further, the mixed use development at Bengaluru and Pune will include commercial, retail and F&B space of approximately 11.71 lakhs square feet, said the release.Arjun Oberoi, executive chairman of EIH Ltd., said, “Our second-quarter results are a testament to the strong operational strategy and financial discipline that drive our business. Achieving record revenue and profit growth highlights both our market resilience and commitment to long-term value creation for our stakeholders. With a confirmed expansion plan of 20 new properties, including 9 owned and operated flagship hotels and 11 managed properties, we are strategically growing our portfolio across key domestic and international markets. This growth trajectory reinforces our commitment to delivering exceptional experiences and underscores our ongoing focus on Environmental, Social, and Governance (ESG) principles as we build a sustainable future for luxury hospitality synonymous with our brands.”Vikram Oberoi, CEO and managing director of EIH Ltd., said, “Our record-breaking second-quarter results highlight strong demand, with standalone and consolidated Profit Before Tax rising by 34 percent and 41 percent year-on-year. This strong financial momentum reflects the unwavering trust our guests place in our brand and the relentless commitment of our teams to deliver outstanding service. Our expansion strategy, with 20 carefully curated properties across strategic global and domestic markets, underscores our ambition to meet the evolving aspirations of today’s discerning travellers.”
Published On Nov 13, 2024 at 12:00 PM IST
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