| Annual Financials | Mar 2023 | Mar 2024 | Mar 2025 |
| Revenue | 35022.00 | 40170.00 | 46825.00 |
| Expenses | 37195.00 | 37277.00 | 42617.00 |
| Other Income | 619.00 | 315.00 | 243.00 |
| Total Revenue | 35641.00 | 40485.00 | 47068.00 |
| Profit Before Tax | -454.00 | 3208.00 | 4451.00 |
| Net Profit | -309.00 | 3114.00 | 2366.00 |
Brigade Hotel Ventures
Brigade Hotel Ventures IPO
₹14,110
4.57 xOver-subscribedBidding Dates24 Jul, 25 -28 Jul, 25
Min Investment ₹14,110
Lot Size166
Price Range₹85 – ₹90
Issue Size ₹759.60 Cr.
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IPO Subscription Details
Retail Subscription Details
6.4 x
Non-Institutional Buyers (sHNI)
2.59 x
Non-Institutional Buyers (bHNI)
1.58 x
Qualified Institutional Buyers (QIB)
5.42 x
Employees
0.94 x
Total4.57 x
4.57 x IPO Timeline
IPO Offer Start
24 Jul,25
IPO Offer Ends
28 Jul,25
Allotment Finalisation
29 Jul,25
Refund Initiation
29 Jul,25
Listing of Shares
31 Jul,25
IPO Analysis
Strengths
The company has a portfolio of nine operating hotels across Bengaluru, Chennai, Kochi, Mysuru and GIFT City with 1,604 keys. The hotels are operated by global hospitality companies like Marriott, Accor and InterContinental Hotels Group. They are typically located in positive demand locations driven by factors like population density, premium neighborhoods, commercial centers and IT hubs. The hotels provide comprehensive customer experiences including fine dining, MICE venues, lounges, swimming pools, spas and gymnasiums.
The company has a business model where they own or lease hotel assets and engage global hospitality companies to operate them. This provides access to management expertise, industry best practices and operational know-how. They closely monitor hotel performance and work with operators to set targets and manage expenses. Initiatives to optimize expenses include space utilization, energy consumption reduction, shared services, facility upgrades, staffing optimization and leveraging technology.
The company is committed to integrating energy-efficient technologies, renewable energy sources and sustainable practices. Initiatives include water conservation, energy management systems, occupational health and safety practices, and achieving EDGE certification for resource efficiency in their hotels.
Risks
The company has entered into hotel operator services agreements and other related agreements with Marriott, Accor and InterContinental Hotels Group to receive operating and marketing services for its hotels. In Fiscal 2025, two of the company's hotels which are operated by Marriott contributed 43.81% of its revenue from operations. If these agreements are terminated or not renewed, the company's business, results of operations, financial condition and cash flows may be adversely affected.
A significant portion of the company's revenues is derived from its four hotels located in Bengaluru (Karnataka) (63.21% of revenue from operations in Fiscal 2025 was from hotels located in Bengaluru). Further, the company derives a significant portion of its revenues from its hotels Sheraton Grand Bangalore at Brigade Gateway, Holiday Inn Chennai OMR IT Expressway and Holiday Inn Bengaluru Racecourse (62.02% of the revenue from operations was from these hotels in Fiscal 2025). Any adverse developments affecting such hotels or locations could have an adverse effect on the company's business, financial condition, cash flows and results of operations.
The company intends to develop five additional hotels and if it is unable to develop these hotels in a timely manner, its business, results of operations, financial condition and cash flows will be adversely affected.
Objectives
Repayment or prepayment, in full or in part, of certain outstanding borrowings availed by the Company and its Material Subsidiary, SRP Prosperita Hotel Ventures Limited.
Payment of consideration for buying of Undivided Share of Land from the Promoter, Brigade Enterprises Limited.
Pursuing inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2023 | Mar 2024 | Mar 2025 |
| Total Assets | 84067.00 | 88678.00 | 94757.00 |
| Current Assets | 8986.00 | 6757.00 | 8792.00 |
| Fixed Assets | 75081.00 | 81921.00 | 85965.00 |
| Total Equity & Liabilities | 84067.00 | 88678.00 | 94757.00 |
| Total Liabilities | 79287.00 | 80777.00 | 84524.00 |
| Current Liabilities | 21242.00 | 12834.00 | 20197.00 |
| Non Current Liabilities | 58045.00 | 67943.00 | 64327.00 |
| Total Equity | 4780.00 | 7901.00 | 10233.00 |
Cash Flow
| Cash Flow | Mar 2023 | Mar 2024 | Mar 2025 |
| Net Cash Flow | -2339.00 | 1743.00 | -2783.00 |
| Investing Activities | 98.00 | -4530.00 | -9499.00 |
| Operating Activities | 10787.00 | 15486.00 | 14895.00 |
| Financing Activities | -13224.00 | -9213.00 | -8179.00 |
About Brigade Hotel Ventures
The company operates strategically located award-winning hotels with diversified offerings, primarily in key cities in South India. It focuses on asset management to achieve operating efficiencies and places importance on Environmental, Social & Governance (ESG) practices. The company has an experienced management team with domain expertise. Its growth strategy includes...more
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Managing DirectorNirupa Shankar
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