U P Hotels has scheduled a board meeting for September 7, 2026, to consider matters related to the voluntary delisting of its equity shares from BSE Limited.

The meeting aims to address procedural steps for the delisting process initiated following a Securities and Exchange Board of India (SEBI) letter dated December 3, 2024. The company cited Regulation 29 and Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as the basis for this disclosure.

Regulatory Context

The voluntary delisting framework under SEBI regulations requires specific disclosures and approvals before shares can be removed from stock exchange listings. The company’s Board of Directors will review the status of these requirements during the scheduled session.

Prakash Chandra Prusty, Head - Legal, Compliance & Company Secretary at U P Hotels, issued the notice to BSE Limited on September 1, 2026. The filing confirms that the agenda includes inter alia considerations regarding the ongoing delisting procedure.

Up Hotels reported a net profit of ₹2.69 crore for the quarter ended June 30, 2026, marking a 17% decline from the ₹3.25 crore recorded in the corresponding period of FY25. Despite the drop in bottom-line figures, the company’s revenue from operations grew by 4% to ₹29.94 crore, up from ₹28.86 crore in Q1FY25.

The Board of Directors approved the unaudited financial results during a meeting held on August 13, 2026. The figures were reviewed by Satinder Goyal & Co., Chartered Accountants, who issued a limited review report stating that nothing came to their attention to suggest material misstatement.

Operational Performance

Revenue growth was offset by an increase in operating expenses. Employee benefit expenses rose to ₹9.38 crore from ₹8.50 crore year-ago, while other expenses increased significantly to ₹7.77 crore from ₹6.27 crore. Power and fuel costs remained relatively stable at ₹3.11 crore, compared to ₹3.16 crore in Q1FY25.

Earnings per share stood at ₹5.00, down from ₹6.03 in the previous year’s quarter. The company operates solely in the hotel business segment.

What the Numbers Show

A divergence between revenue growth and expense inflation is evident in the Q1FY26 results. While revenue from operations expanded by nearly 4%, total expenses grew at a faster pace of almost 9%. This compression was primarily driven by a 23.9% increase in other expenses (from ₹6.27 crore to ₹7.77 crore) and a 10.4% rise in employee benefits. Consequently, despite higher top-line performance, the profit before tax contracted by ₹74.47 lakh, highlighting margin pressure amidst rising operational costs.

Regulatory and Corporate Updates

The company noted ongoing disputes between promoters during the period but stated that these disagreements do not have a material financial impact on the reported results. Additionally, Up Hotels has begun recognizing the impact of India’s four new Labour Codes—effective November 21, 2025—in its employee benefit expenses based on actuarial valuations. The management continues to evaluate further impacts as detailed implementation rules are notified.