The shares of this leading hospitality company gained 5% to ₹304.65 per share on Thursday after the company opened a new hotel, IRA by Orchid, in Ayodhya, Uttar Pradesh.
At 12:30 p.m., Kamat Hotels (India) Ltd shares were trading at ₹303.25 a share on the National Stock Exchange, up 4.42% from the previous close price, and the company has a market capitalization of ₹746 crores.
Kamat Hotels (India) Ltd (KHIL) has launched a new hotel named, The IRA by Orchid in Ayodhya, Uttar Pradesh. This hotel offers 49 rooms across different categories such as Deluxe, Luxury, and Temple View Royal Suites. Additionally, the property boasts two banquet halls, each spanning 4,200 square feet, making The IRA by Orchid a perfect choice for weddings, celebrations, and corporate events, as indicated in the company’s filing.
The company’s hotel, IRA by Orchid, provides easy access to prominent attractions, including Shree Ram Janmbhoomi Teerth Kshetra, Sita Ki Rasoi, and Nageshwarnath Temple.
Kamat Hotels India Ltd is one of the companies of the Kamats Group. The company is engaged in the Hospitality business and other related services like hotel consultancy, setup,etc.
Kamat Hotels (India) Limited, the flagship entity of the Kamat Group, is renowned for its globally recognized brand’, ‘The Orchid’, an Ecotel Hotel.Positioned in the mid to up-market category, it was Asia’s first chain of 5-star, environment-sensitive hotels.
The company’s hotels are placed in the prime locations across cities such as Mumbai, Pune, and Konark Bhubaneswar. As of FY23, Kamat Hotels operates five brands with 13 properties in the 4/5-star category, providing around 1,500 rooms. In FY23, room income contributed to 62% of the company’s revenue, while food and beverages accounted for the remaining 38%.
Over the past six months, Kamat Hotels’ shares have risen by 43%, and over the last 12 months, they have surged by an impressive 116%.
The company’s annual revenue witnessed a modest growth of 2.3%, rising from ₹84 crore in Q3FY23 to ₹86 crore in Q3FY24. Concurrently, the net profit witnessed a substantial increase of 50%, escalating from ₹28 crore to ₹42 crore during the same period.
As of the shareholding pattern in March, the company’s promoter holds a 63.34% stake, while retail investors own a 36.40% stake.
Written by Omkar Chitnis
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