Brigade Hotel Ventures Ltd Bounces Back with Strong Q1 Results

Brigade Hotel Ventures Ltd has made a notable recovery as it reports a consolidated net profit of Rs 7.16 crore for the first quarter of the current fiscal year. This marks a remarkable turnaround from a net loss of Rs 5.78 crore during the corresponding period of the previous year.

Following the successful Rs 760 crore IPO, the company saw its total income rise to Rs 125.03 crore in this quarter, up from Rs 102.20 crore from the same period last year. Brigade Hotel Ventures Ltd, a subsidiary of realty firm Brigade Enterprise, currently manages nine hotels across major Indian cities, including Bengaluru and Chennai.

Nirupa Shankar, Managing Director, attributes the positive performance to strategic pricing and market positioning along with a focus on optimizing costs and enhancing guest experiences. The company plans to leverage IPO proceeds and internal cash flow to double its number of hotel keys over the next four to five years.

(With inputs from agencies.)