Juniper Hotels FY26 PAT jumps 99% to INR 141.6 Cr
Juniper Hotels reported a 99% YoY surge in FY26 PAT to INR 141.6 Cr, supported by record revenue of INR 1,069.1 Cr and a 400-basis point EBITDA margin expansion to 42%. The company secured a 500-key luxury hotel project in Dwarka, New Delhi, and announced the Westin Bengaluru Phase I opening for Q2 FY27. Management guided for INR 1,800 Cr capex by FY30 and expects net debt-to-EBITDA to remain below 2.5x at its peak.

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Juniper Hotels Limited has announced its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The Board of Directors approved the results during a meeting held on May 21, 2026. The company reported its highest ever total income of INR 1,069.1 Cr for the full fiscal year, marking a 10% year-on-year increase. Profit after tax (PAT) for the year surged 99% to INR 141.6 Cr, driven by strong operational performance and margin expansion.
Financial Performance
For the fourth quarter, the company recorded a total income of INR 306.8 Cr, an increase of 7% compared to the corresponding period of the previous year. EBITDA, including other income, stood at INR 138.0 Cr, up 9% year-on-year, with margins expanding by 1 percentage point to 45%. Profit after tax for the quarter was INR 50.4 Cr.
| Particulars (INR Crs) | Q4 FY26 | Q4 FY25 | Y-o-Y | FY26 | FY25 | Y-o-Y |
|---|---|---|---|---|---|---|
| Total Income | 306.8 | 287.0 | +7% | 1,069.1 | 975.6 | 10% |
| EBITDA (incl. other income) | 138.0 | 126.1 | +9% | 444.0 | 368.1 | 21% |
| EBITDA Margin (%) | 45% | 44% | +1pp | 42% | 38% | +4pp |
| Profit after Tax | 50.4 | 55.0 | -8% | 141.6 | 71.3 | 99% |
Operational Highlights
The company achieved a consolidated Average Room Rate (ARR) of INR 13,457 in Q4 FY26, an 8% increase from the previous year, while occupancy remained stable at 81%. Consolidated Revenue Per Available Room (RevPAR) grew 8% to INR 10,863. Food and beverage revenue for the quarter stood at INR 84.8 Cr, accounting for 28% of total revenue. The Grand Showroom at Grand Hyatt Mumbai contributed INR 28 Cr in FY26.
Strategic Developments
Juniper Hotels received a Letter of Award from the Delhi Development Authority (DDA) for the development of a ~500-key luxury hotel project in Dwarka, New Delhi. The land is on a 55-year lease with an upfront payment of INR 9.75 Cr over four years and an annual license fee starting after 5.5 years. The company expects its total inventory in Delhi to exceed 1,000 keys upon completion. Additionally, the Bengaluru Phase I project is scheduled to be operational by Q2FY27 under the Westin brand, with an expected ARR starting at INR 15,000 and first-year revenue of INR 30 Cr.
Guidance and Outlook
Management indicated a total capital expenditure of approximately INR 1,800 Cr for the expansion of over 1,400 keys by FY30. Capex is expected to be INR 300 Cr in the current fiscal year and INR 700-750 Cr in FY28. Net debt-to-EBITDA is projected to peak in FY28 but remain south of 2.5x. The company aims to achieve EBITDA margins in excess of 40% for the new Bengaluru asset upon stabilization.
Board Decisions
The Board approved the re-appointment of Mr. Arun Kumar Saraf as Chairman and Managing Director for a period of three years effective March 1, 2027, subject to shareholder approval. Furthermore, the Board approved the re-appointment of M/s. S R B C & CO LLP as Statutory Auditor and M/s. Protiviti India Member Private Limited as Internal Auditor. The company also approved the acquisition of 100% equity share capital of Juniper Hospitality Assets Private Limited (JHAPL) for a consideration of INR 1.00 Lakh to facilitate the Dwarka project.
Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE696F01016/90f4664596054222.pdf
Historical Stock Returns for Juniper Hotels
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.80% | +4.58% | +1.38% | -20.57% | -35.91% | -49.75% |
How will the significant increase in capital expenditure over the next few years impact the company's free cash flow and dividend policy?
What is the expected timeline for the Dwarka project to become EBITDA accretive, and will the upfront payment and license fee structure pressure near-term margins?
With occupancy stable at 81%, is there room for further Average Room Rate (ARR) growth to drive RevPAR expansion in the upcoming fiscal year?


































