Juniper Hotels Limited has disclosed its monitoring agency report for the quarter ended September 30, 2025, regarding the utilization of proceeds from its Rs. 1,800 crore Initial Public Offer (IPO). The report, prepared by CARE Ratings Limited, indicates no deviation from the stated objectives of the IPO funds.

Key Highlights

• No utilization of IPO proceeds during the reporting quarter
• Rs. 77.14 crore utilized for general corporate purposes to date
• Rs. 155.94 crore remains unutilized from the general corporate purposes allocation
• Unutilized funds invested in fixed deposits with returns between 6.15% to 7.61% per annum

Allocation of IPO Proceeds

Delay in Utilization

The report notes a delay in the utilization of proceeds under General Corporate Purpose. As of September 30, 2025, the company has utilized Rs. 77.14 crore against the scheduled deployment of Rs. 233.08 crore, which was originally planned for completion by March 31, 2024.

Investment of Unutilized Funds

Juniper Hotels has invested the unutilized proceeds in fixed deposits with Kotak and ICICI banks. These investments are earning returns ranging from 6.15% to 7.61% per annum.

Company Statement

While the company has not provided specific comments on the delay in utilization, it's worth noting that the IPO prospectus stated that if the Net Proceeds are not utilized as per the timeline, they shall be utilized in subsequent periods as determined by the company, in accordance with applicable laws.

Financial Performance

In its Q2 FY26 results, also released recently, Juniper Hotels reported:

• Total income of Rs. 235.0 crore, up 5% year-on-year
• EBITDA of Rs. 87.3 crore, a 20% increase from the previous year
• Profit after tax of Rs. 16.8 crore, compared to a loss in Q2 FY25

The company's performance shows improvement, with stable occupancy rates and growth in average room rates contributing to the positive results.

Investors and stakeholders will likely be monitoring how Juniper Hotels plans to utilize the remaining funds allocated for general corporate purposes and whether this will impact the company's growth strategies in the coming quarters.

Juniper Hotels Limited , a leading developer of luxury hotels in India, has announced its financial results for the second quarter, showcasing robust growth and a significant turnaround in profitability.

Record-Breaking Revenue and Profitability

The company reported its highest ever Q2 total income of ₹235.00 crores, marking a 5% year-on-year growth. This strong top-line performance was accompanied by a substantial improvement in profitability, with EBITDA surging 20% year-on-year to ₹87.30 crores. The EBITDA margin expanded to an impressive 37%, reflecting the company's focus on operational efficiency and cost optimization.

In a notable turnaround, Juniper Hotels swung to a profit after tax of ₹16.80 crores for the quarter, compared to a loss of ₹27.80 crores in the same period last year. This remarkable shift underscores the company's successful strategies in navigating market challenges and capitalizing on the recovery in the hospitality sector.

Key Performance Indicators

The company's consolidated Average Room Rate (ARR) stood at ₹10,599, while the Revenue Per Available Room (RevPAR) reached ₹7,663. These metrics indicate strong pricing power and occupancy levels, contributing to the overall revenue growth.

Expansion and Development Projects

Juniper Hotels continues to focus on strategic expansion, with several key projects in various stages of development:

• The Phase I Bengaluru project, comprising 235 keys, is on track for launch by the end of the fiscal year.
• The Kaziranga Resort (111 keys) project broke ground in September.
• Pre-development stages are underway for the Guwahati (340 keys) and Phase II Bengaluru (273 keys) projects, with site work expected to commence in the future.

Additionally, the company has submitted bids for greenfield development projects in the Andaman & Nicobar Islands and Dwarka, demonstrating its commitment to expanding its footprint in key tourist destinations.

Management Commentary

Arun Kumar Saraf, Chairman and Managing Director of Juniper Hotels Limited, expressed satisfaction with the quarter's performance, stating, "We are pleased to report another quarter of continued business growth. Our marquee assets in Mumbai, Delhi, and Ahmedabad delivered strong performances, outperforming their respective city comp-sets."

Looking ahead, Saraf added, "We enter the second half of the year with confidence anchored by a surge in demand through the festive and wedding season, a busy corporate calendar, and a strengthening pipeline of inbound travel. Our disciplined approach towards capital deployment and commitment to creating high-quality, future-ready assets will drive sustainable value for our stakeholders."

Financial Highlights

N.M. - Not Measurable due to loss in the prior period

Outlook

With a strong performance in Q2 and positive momentum in key markets, Juniper Hotels appears well-positioned to capitalize on the ongoing recovery in the hospitality sector. The company's focus on expanding its portfolio of luxury properties, coupled with its strategic presence in major cities and tourist destinations, sets a solid foundation for future growth.

As the company continues to execute its development pipeline and explore new opportunities, investors and industry observers will be keenly watching Juniper Hotels' performance in the coming quarters, especially as it navigates the traditionally strong second half of the fiscal year.