• Capital raising plans: The ₹750 crore fundraise via warrants or preferential equity is an enabling resolution for financial flexibility, with no immediate plans to raise capital.
• Q1 operational performance: Same-store revenue grew 9% year-on-year and occupancy reached 79% (up 400 basis points), though average room rates faced pressure from the West Asia crisis reducing higher-paying international travel.
• Revenue growth outlook: Full-year total revenue is expected to grow in the early teens, with FY28 marking a major growth inflection toward high-teens revenue as key assets like the W in Hyderabad and Westin in Bangalore open.
• Debt and partnerships: Net debt stands at approximately ₹1,500 crore with a target to reduce the net debt-to-EBITDA ratio from 3x to 2.5x over the medium to long term, while the Westin Bangalore will be added as the fifth property in the GIC joint venture.