Juniper Hotels Q2 FY27: PAT More Than Doubles as Westin Bengaluru Soft-Opens

Juniper Hotels Limited, the luxury-focused hospitality company and the largest owner of Hyatt-affiliated hotels in India, has announced its unaudited financial results for the quarter ended 30 September 2026, reporting a 121% year-on-year rise in profit after tax.

Total income for Q2 FY27 grew 10% year on year to ₹258.1 Cr, from ₹235.0 Cr in Q2 FY26. EBITDA (including other income) stood at ₹91.4 Cr, up 5% from ₹87.3 Cr, with the EBITDA margin at 35% against 37% a year earlier. Profit before tax rose 108% to ₹49.4 Cr, while profit after tax surged to ₹37.2 Cr from ₹16.8 Cr.

For the first half of FY27, total income reached ₹510.3 Cr (+10%), EBITDA ₹180.3 Cr (+4%) and profit after tax ₹70.4 Cr (+173%). The company noted that Q2 FY26 and H1 FY26 reported PBT included exceptional charges of ₹3.8 Cr and ₹20.9 Cr respectively.

Operating metrics

Consolidated ARR for the quarter rose 8.6% to INR 11,514 from INR 10,599, occupancy improved by 2.4 percentage points to 74.7%, and consolidated RevPAR climbed 12.2% to INR 8,601. For H1 FY27, occupancy stood at 75.3% (+3.9 pp) and RevPAR at INR 8,499 (+12.5%). These KPIs exclude the Bengaluru asset.

Expansion and balance sheet

During the quarter, the company executed a binding MoU to acquire the 287-key Novotel Imagicaa for ₹248 Cr, translating to ₹86 lakh per key. It also marked the soft opening of the 238-key Westin Bengaluru, the beginning of a new partnership with Marriott, with another 275 keys under development. Net debt was further reduced to ₹633 Cr, with Net Debt/EBITDA at 1.4x and adjusted operating portfolio ROCE at 17%.

Commenting on the results, Arun Kumar Saraf, Chairman and Managing Director, said: “Juniper Hotels has delivered another quarter of resilient operating performance with ARR growing 9% and RevPAR increasing 12%, our performance reflects the strength of our diversified portfolio, disciplined revenue management and sustained demand across corporate travel, MICE and social events. Importantly, lower finance costs and depreciation have contributed to a substantial improvement in profit after tax.

“This quarter marks an important inflection point in our Juniper 2.0 growth journey. Our acquisition of the 287-key Novotel Imagicaa near Mumbai on 11 acres of land parcel for approximately ₹248 crore demonstrates our ability to identify opportunities at strategic location and at an attractive valuations with potential for banquet expansion and asset repositioning. Equally significant is the soft opening of Phase I of the 238-key Westin Bengaluru, marking the beginning of our new partnership with Marriott International. With another 275 keys under development in Phase II, we are building a substantial presence in one of India's most promising hospitality markets.”

He added: “Our upcoming Grand Hyatt Hotel in New Delhi and Guwahati, together with our broader development pipeline and selective acquisitions, position us strongly to achieve our ambition of doubling both room inventory and EBITDA by FY2030–31. These investments are not merely about expanding our footprint, but about building a larger, more diversified and higher profitability hospitality platform.

“With net debt reduced to approximately ₹633 crore, Net Debt/EBITDA at 1.4x and adjusted ROCE of 17% across our operating portfolio, we remain firmly focused on disciplined capital allocation. Our vision for Juniper 2.0 is clear: to build scale with discipline, deliver growth with profitability and create enduring value for all our stakeholders.”

Juniper Hotels is a strategic partnership between the Saraf group, a hotel developer with over four decades of expertise, and Hyatt. The company operates 1,895 keys (including 245 serviced apartments) across seven hotels in key metro and emerging cities as well as tourist destinations.

Images: courtesy of Juniper Hotels Limited