Asian hotels (north) Limited, owner of Hotel Hyatt Regency Delhi, announced its unaudited financial results for the quarter and nine months ended December 31, 2025. The hospitality company reported a significant deterioration in profitability during the third quarter of FY26, posting a net loss of ₹5,647.37 lakhs compared to a profit of ₹9,030.38 lakhs in the corresponding quarter of the previous year.

Financial Performance Overview

The company's financial performance showed mixed results with revenue growth offset by increased expenses and exceptional charges. Revenue from operations increased to ₹9,098.44 lakhs in Q3FY26 from ₹8,646.67 lakhs in Q3FY25, representing a growth of 5.22%. However, total expenses rose to ₹10,717.95 lakhs from ₹9,853.73 lakhs in the previous year.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, the company reported a net loss of ₹13,355.55 lakhs compared to a profit of ₹1,307.85 lakhs in the corresponding period of FY25. Revenue from operations for the nine-month period increased to ₹23,817.16 lakhs from ₹22,668.33 lakhs in the previous year.

Borrowing Defaults and Resolution

The company faced significant financial challenges with defaults on borrowings. As of December 31, 2025, the company had defaulted on principal repayments aggregating ₹59,326.46 lakhs and interest payments of ₹8,137.59 lakhs. Due to these defaults, the company recognized exceptional charges of ₹4,027.63 lakhs for Q3FY26 and ₹9,701.65 lakhs for the nine-month period, including penal charges of ₹14,904.56 lakhs net of interest reversal.

Equity Fundraising and Debt Repayment

To address its financial challenges, the company successfully raised ₹76,494.00 lakhs through a preferential equity issue subsequent to the quarter end. The company issued 2,31,80,000 equity shares at ₹330 per share. The entire proceeds were utilized for repayment of outstanding borrowings, completely resolving the default situation.

Operational Metrics and Outlook

The company operates primarily in the hospitality segment with Hotel Hyatt Regency Delhi as its flagship property. Despite reporting losses, management has prepared the financial results on a going concern basis, citing significant improvement in operating performance and successful debt resolution through the equity raise. The company's current liabilities exceeded current assets as of December 31, 2025, but the subsequent equity infusion has strengthened the liquidity position.

Earnings per share for Q3FY26 stood at ₹(29.03) compared to ₹46.42 in Q3FY25. For the nine-month period, EPS was ₹(68.65) against ₹6.72 in the corresponding period of FY25. The paid-up equity share capital remained at ₹1,945.33 lakhs with a face value of ₹10 per share.

Asian hotels (north) Limited has announced the resignation of a key senior management personnel, marking a significant change in its leadership structure. The company informed stock exchanges about this development through a formal regulatory filing on February 07, 2026.

Senior Management Personnel Resignation

Mr. Vipin Vasudeva, who served as Vice President - Projects and was designated as Senior Management Personnel (SMP), resigned from his position effective from the closing of business hours on January 21, 2026. The resignation was attributed to personal reasons, specifically health-related concerns that require immediate attention.

Resignation Details and Timeline

According to the resignation letter dated December 10, 2025, Mr. Vasudeva cited critical health issues as the primary reason for his departure. The letter revealed that doctors had advised him to address these health concerns, and family considerations necessitated his relocation to facilitate necessary medical care. He had initially requested relief by January 10, 2026, but the actual cessation occurred on January 21, 2026.

Mr. Vasudeva expressed gratitude for the professional and personal development opportunities provided by the company during his 16-year tenure. In his resignation letter, he acknowledged the relationships built during his service and offered assistance in ensuring a smooth transition of his responsibilities.

Regulatory Compliance

The company has fulfilled its regulatory obligations by filing the necessary disclosures under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was sent to both BSE Limited and National Stock Exchange of India Limited, along with the required annexures including detailed disclosures and a copy of the resignation letter.

The resignation represents a notable change in the senior management structure of Asian Hotels (North) Limited, particularly given Mr. Vasudeva's long association with the company and his role in project management activities.