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Viceroy Hotels Wins Legal Battle; Tribunal Lifts Attachment on Courtyard by Marriott Property
Viceroy Hotels Limited (VHLTD) has received a favorable order from the SAFEMA Appellate Tribunal, setting aside a 2019 provisional attachment order by the Enforcement Directorate. The ruling releases the Courtyard by Marriott property in Hyderabad from legal encumbrance, citing immunity under Section 32A of the IBC following the company's successful CIRP completion in October 2023. This decision effectively concludes a multi-year litigation process regarding alleged proceeds of crime that had been previously rejected by NCLT/NCLAT. The detachment of these assets provides significant operational and financial relief to the new management.
Key Highlights
Appellate Tribunal sets aside the Provisional Attachment Order dated March 26, 2019, involving the Courtyard by Marriott property in Hyderabad.
Company granted immunity under Section 32A of the IBC following successful CIRP implementation and management change in October 2023.
The order brings a final conclusion to long-standing litigation with the Enforcement Directorate (ED) regarding alleged bank fraud.
Tribunal noted that claims forming the basis of alleged proceeds of crime were already conclusively rejected by NCLT/NCLAT.
The decision marks the end of litigation for the property, which has been finally decided in favor of the company.
💼 Action for Investors
This is a major positive development as it clears the company's title to a key operating asset and removes a significant legal overhang. Investors should view this as a de-risking event that allows the new management to focus on operational growth and asset utilization.
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VHLTD Assigned 'CARE BBB; Stable' Rating for ₹230.33 Cr Bank Facilities
CARE Ratings Limited has assigned investment-grade ratings to Viceroy Hotels Limited's bank facilities totaling ₹230.33 crore. The long-term facilities of ₹227.83 crore received a 'CARE BBB; Stable' rating, while short-term facilities of ₹2.50 crore were assigned 'CARE A3+'. The rated debt includes significant term loans from Kotak Mahindra Bank and Aditya Birla Capital with repayment schedules extending until December 2037. This assignment marks a formal assessment of the company's credit profile, providing a benchmark for its financial stability.
Key Highlights
CARE Ratings assigned 'CARE BBB; Stable' for long-term bank facilities worth ₹227.83 crore
Short-term bank facilities of ₹2.50 crore assigned a 'CARE A3+' rating
Total bank facilities rated by the agency amount to ₹230.33 crore
Term loans include ₹176.83 crore from Kotak Mahindra Bank and ₹50 crore from Aditya Birla Capital
Debt repayment terms are structured over 144 monthly instalments ending in December 2037
💼 Action for Investors
The assignment of an investment-grade rating is a positive signal regarding the company's creditworthiness and financial structure. Investors should monitor if the company can maintain or improve this rating through consistent cash flow generation from its hotel operations.
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Viceroy Hotels Q3 PAT Jumps 50% to ₹10.9 Cr; Acquires Marriott Executive Apartments for ₹215 Cr
Viceroy Hotels reported a strong Q3 FY26 with PAT growing 50% YoY to ₹10.9 crores and EBITDA margins expanding to 31.5%. The company announced the strategic acquisition of Marriott Executive Apartments in Gachibowli, Hyderabad, for ₹215 crores, adding 75 premium keys. Operational metrics showed significant improvement with ADRs for Marriott and Courtyard rising by 10.3% and 11.3% YoY respectively. The management is progressing with a ₹120 crore capex plan, aiming to reach a total of 1,000 keys by 2030.
Key Highlights
Q3 FY26 PAT rose 50% YoY to ₹10.9 crores with revenue at ₹38.33 crores.
Acquired 75-room Marriott Executive Apartments in Hyderabad for ₹215 crores, expected to be immediately accretive.
EBITDA margin improved to 31.5% in Q3 FY26 from 30% in the previous year due to higher ADRs.
Average Daily Rate (ADR) for Courtyard property increased 11.3% YoY to ₹8,386.
Company targets 1,000 keys by 2030, currently operating 538 keys following the recent acquisition.
💼 Action for Investors
Investors should view the margin expansion and inorganic growth positively as the company scales its presence in the high-growth Hyderabad market. Monitor the progress of Phase 2 renovations at the Marriott property which could temporarily impact occupancy but drive long-term ADR growth.
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Viceroy Hotels Q3 PAT Surges 50% to ₹10.93 Cr; Acquires Gachibowli Property for ₹215 Cr
Viceroy Hotels reported a robust 50% YoY growth in Profit After Tax (PAT) to ₹10.93 crore for Q3 FY26, driven by strong cost discipline and higher Average Daily Rates (ADR). While occupancy dipped to 63.9% due to renovation disruptions, ADR improved by 10.4% to ₹8,195, maintaining healthy EBITDA margins at 31.5%. The company also announced a significant ₹215 crore acquisition of Marriott Executive Apartments in Gachibowli, Hyderabad, which is expected to contribute to earnings starting Q4 FY26. Management has set an aggressive long-term target of reaching 1,000 keys by 2030.
Key Highlights
PAT increased by 49.9% YoY to ₹10.93 crore with margins expanding to 28.5%
Acquired Marriott Executive Apartments in Gachibowli for ₹215 crore, adding 75 executive rooms
Average Daily Rate (ADR) rose 10.4% YoY to ₹8,195, though occupancy fell to 63.9% due to renovations
EBITDA grew 6.5% YoY to ₹12.09 crore with a margin of 31.5%
Management targets expansion to 1,000 keys by 2030 to capitalize on the tourism upcycle
💼 Action for Investors
Investors should note the strong margin expansion and the strategic acquisition which provides immediate revenue visibility for the upcoming quarters. The stock remains a watch for growth in the Hyderabad hospitality market as renovations conclude and new assets integrate.
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Viceroy Hotels Announces ₹100 Cr Renovation and ₹215 Cr Acquisition Post-Insolvency Exit
Viceroy Hotels has successfully transitioned out of insolvency under new management from the Anirudh Group, which infused ₹60 crore in initial equity. The company is executing a turnaround strategy involving a ₹100+ crore renovation of its core Hyderabad assets and a ₹215 crore acquisition of Marriott Executive Apartments. This acquisition is strategically significant, bringing in an operational asset with a CY25 EBITDA of ₹21.45 crore. With a new 200-room greenfield project in the pipeline, the company aims to significantly scale its premium hospitality footprint in Hyderabad.
Key Highlights
Acquired 75-key Marriott Executive Apartments for ₹215 Cr; asset generated ₹21.45 Cr EBITDA in CY25.
Investing ₹100+ Cr in a 3-phase renovation of flagship Hyderabad properties to be completed by Q4 FY26.
Post-CIRP restructuring significantly reduced public equity from 3.67 crore shares to 6.31 lakh shares.
Pipeline includes a new 200-room greenfield Courtyard by Marriott project in Madhapur, Hyderabad.
Earnings visibility from the newly acquired asset is expected to begin in Q4 FY26.
💼 Action for Investors
Investors should monitor the timely completion of the ₹100 Cr renovation phases and the financial integration of the Gachibowli acquisition. The stock represents a high-growth recovery play following its successful exit from the insolvency process.
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VHLTD Q3 Net Profit Jumps 50% YoY to ₹10.93 Cr; Completes ₹206 Cr Acquisition
Viceroy Hotels Limited reported a strong performance for Q3 FY26, with standalone net profit rising 50% year-on-year to ₹10.93 crore. Revenue from operations grew to ₹38.33 crore, supported by improved operational efficiencies and higher other income. A significant strategic milestone was the 100% acquisition of SLN Terminus Hotels & Resorts for ₹206 crore, adding a Marriott-branded service apartment hotel in Hyderabad to the portfolio. While legal proceedings regarding property attachments continue, the company has secured a stay until March 2026, providing short-term stability.
Key Highlights
Standalone Net Profit increased by 50% YoY to ₹10.93 crore from ₹7.29 crore in the previous year's quarter.
Revenue from operations grew to ₹38.33 crore in Q3 FY26, up from ₹30.80 crore in Q2 FY26.
Completed the acquisition of SLN Terminus Hotels & Resorts for ₹206 crore on December 29, 2025.
Divested entire stakes in five subsidiaries, including Banjara Hospitalities and Café D Lake, for ₹66 lakhs.
The Hon’ble PMLA court extended the stay against coercive action on company properties until March 12, 2026.
💼 Action for Investors
Investors should view the strong profit growth and the strategic Hyderabad acquisition as positive indicators of the company's post-IBC recovery. However, keep a close watch on the PMLA legal hearing scheduled for March 12, 2026, as it remains a key regulatory risk.
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VHLTD Q3 Net Profit Jumps 50% YoY to ₹10.93 Cr; Acquires SLN Terminus for ₹206 Cr
Viceroy Hotels Limited (VHLTD) reported a strong performance for Q3 FY26, with standalone net profit rising 50% year-on-year to ₹10.93 crore. Revenue from operations grew to ₹38.33 crore, showing steady growth compared to both the previous quarter and the same period last year. A significant strategic development is the 100% acquisition of SLN Terminus Hotels & Resorts for ₹206 crore, adding a Marriott-branded service apartment hotel in Hyderabad to its portfolio. The company also reported an extension of the legal stay regarding property attachments until March 2026.
Key Highlights
Standalone Net Profit increased 50% YoY to ₹1,093.04 lakhs from ₹728.72 lakhs.
Revenue from operations grew to ₹3,832.96 lakhs, up from ₹3,079.69 lakhs in the preceding quarter.
Acquired 100% stake in SLN Terminus Hotels & Resorts Private Limited for ₹20,600 lakhs on December 29, 2025.
Profit Before Tax (PBT) saw a sharp sequential increase to ₹1,070.10 lakhs from ₹429.56 lakhs in Q2 FY26.
Legal stay against Enforcement Department property attachment extended to March 12, 2026.
💼 Action for Investors
Investors should view the strong profit growth and the strategic acquisition of the Marriott-branded property as positive catalysts for future revenue. However, keep a close watch on the PMLA legal proceedings scheduled for March 2026 regarding property de-attachment.
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VHLTD Acquires 1.57 Lakh Sq. Ft. Property in Hyderabad for Hospitality Expansion
Viceroy Hotels Limited (VHLTD) has officially signed a sale deed to acquire a significant portion of the 'SLN Terminus' property in Gachibowli, Hyderabad. The acquisition covers approximately 1,57,242 sq. ft. of built-up area across multiple floors and includes an undivided land share of 2,327.06 sq. yards. This property currently operates as a Marriott-associated hotel, aligning with the company's strategic goal to expand its hospitality portfolio in prime locations. While identified as a related party transaction, the company has ensured compliance through independent valuations from HVS ANAROCK and IBBI-registered valuers.
Key Highlights
Acquisition of 1,57,242 sq. ft. area including the 9th, 10th, 11th, and 12th floors of SLN Terminus.
Includes an undivided share of 2,327.06 sq. yards of land in the high-growth Gachibowli area of Hyderabad.
The property currently houses a Marriott-associated hotel, providing immediate strategic value.
Transaction conducted at arm's length based on a valuation report from an IBBI Registered Valuer.
Follows recent shareholder approval obtained on December 27, 2025, for the acquisition of SLN Terminus Hotels and Resorts.
💼 Action for Investors
Investors should monitor the impact of this asset acquisition on the company's debt levels and future revenue growth from the Hyderabad market. The move to own the underlying real estate of its operating hotels is a significant shift toward an asset-heavy model.
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Viceroy Hotels Signs SPA to Acquire 100% Stake in SLN Terminus Hotels and Resorts
Viceroy Hotels Limited (VHLTD) has entered into a Share Purchase Agreement (SPA) to acquire a 100% stake in SLN Terminus Hotels and Resorts Private Limited. This acquisition follows shareholder approval and will result in SLN Terminus becoming a wholly-owned subsidiary. The transaction is a related party deal involving Managing Director Mr. S. Prabhaker Reddy, but the company states it is conducted at arm's length based on independent valuations from HVS ANAROCK and an IBBI Registered Valuer. VHLTD will fund the acquisition by providing a loan to the target entity to settle its existing liabilities.
Key Highlights
Acquisition of 100% shareholding in SLN Terminus Hotels and Resorts Private Limited
Target entity to become a wholly-owned subsidiary of Viceroy Hotels Limited
Transaction valued based on reports from HVS ANAROCK and an IBBI Registered Valuer
Acquisition consideration to be adjusted against liabilities funded via a loan from VHLTD
Strategic expansion aimed at strengthening the company's hospitality portfolio and asset base
💼 Action for Investors
Investors should review the valuation reports on the company's website to ensure the related party transaction is fair. Monitor the impact of the new subsidiary's liabilities on Viceroy's consolidated balance sheet.
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Viceroy Hotels Shareholders Approve Rs 206 Crore Acquisition of SLN Terminus Hotels
Viceroy Hotels Limited (VHLTD) has received shareholder approval to acquire SLN Terminus Hotels and Resorts Private Limited for a total cash consideration of Rs 206 crore. The target entity operates a 75-room Marriott-associated hotel in the prime Gachibowli area of Hyderabad and reported a Profit After Tax (PAT) of Rs 5.98 crore in FY25. This acquisition will make SLN Terminus a wholly-owned subsidiary, expanding Viceroy's asset base and operational synergies. Although a related party transaction, the company maintains it is conducted at arm's length based on valuation reports.
Key Highlights
Total acquisition cost of Rs 206 crore includes Rs 105.65 crore for land and Rs 40.67 crore for debt repayment.
Target company turnover has shown consistent growth from Rs 33.86 crore in FY23 to Rs 43.36 crore in FY25.
The acquisition adds a 1,57,242 sq. ft. Marriott-branded property to Viceroy's hospitality portfolio.
The transaction is expected to be completed within one year from the approval date of December 27, 2025.
💼 Action for Investors
Investors should view this as a strategic expansion into a profitable, branded asset that strengthens the company's Hyderabad presence. Monitor the impact of the Rs 206 crore cash outflow on the company's leverage and liquidity in upcoming quarters.
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VHLTD Shareholders Approve Capital Reclassification and Related Party Loans
Viceroy Hotels Limited (VHLTD) held an Extraordinary General Meeting on December 27, 2025, where shareholders approved five key resolutions. Major approvals included the reclassification of the company's Authorized Share Capital and the provision of loans or guarantees to M/s. SLN Terminus Hotels and Resorts Private Limited. Additionally, shareholders approved a material related party transaction with Director Mr. S. Prabhaker Reddy and the appointment of two directors, with the first resolution receiving 99.98% support.
Key Highlights
Resolution to appoint Mrs. Kondareddy Sukanya as Director passed with 5,83,43,537 votes (99.98%) in favor.
Shareholders approved the reclassification of Authorized Share Capital and subsequent amendment to the Memorandum of Association.
Approval granted for providing loans, guarantees, or security to SLN Terminus Hotels and Resorts Private Limited under Section 185.
Material Related Party transaction with Director Mr. S. Prabhaker Reddy was approved by the members.
The EGM was conducted via Video Conferencing with 55 members in attendance.
💼 Action for Investors
Investors should monitor the specific terms and financial impact of the approved loans to SLN Terminus Hotels and the related party transactions. The capital reclassification may indicate future plans for equity restructuring or fundraising.
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VHLTD EGM on Dec 27, 2025 to Approve Director Appointments & Capital Reclassification
Viceroy Hotels Limited (VHLTD) is holding an Extraordinary General Meeting (EGM) on December 27, 2025, to approve several key resolutions. These include the appointment of Mrs. Kondareddy Sukanya as a Non-Executive Non-Independent Director and Ms. Vaishnavi Nalabala as an Independent Director. Shareholders will also vote on reclassifying the authorized share capital from ₹90,00,00,000 consisting of 8,00,00,000 Equity Shares of ₹10 each and 10,00,000 Preference Shares of ₹100 each to ₹90,00,00,000 consisting of 9,00,00,000 Equity Shares of ₹10 each. Additionally, the meeting will address providing a loan/guarantee of up to ₹41.00 Crores to M/s. SLN Terminus Hotels and Resorts Private Limited.
Key Highlights
EGM to be held on December 27, 2025 at 11:00 A.M. (IST)
Appointment of Mrs. Kondareddy Sukanya as Non-Executive — Non-Independent Director (DIN - 00040453)
Appointment of Ms. Vaishnavi Nalabala (DIN: 09598868) as Independent Director
Reclassification of Authorised Share capital to ₹90,00,00,000 consisting of 9,00,00,000 Equity Shares of ₹10 each
Loan/guarantee up to ₹41.00 Crores to M/s. SLN Terminus Hotels and Resorts Private Limited
💼 Action for Investors
Shareholders should review the EGM notice and resolutions carefully, particularly regarding the director appointments and related party transactions. Cast your votes via remote e-voting between December 24-26, 2025, or during the EGM.
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Viceroy Hotels to Acquire SLN Terminus Hotels for ₹206 Crore; Appoints New Independent Director
Viceroy Hotels Limited has approved the acquisition of SLN Terminus Hotels and Resorts Private Limited for a total consideration of ₹206 Crores. The target entity operates a 75-room Marriott-associated hotel in Gachibowli, Hyderabad, and reported a turnover of ₹43.45 Crores with a PAT of ₹5.98 Crores in FY25. This is a related party transaction involving common directorship, though the company states it is conducted at arm's length. Additionally, the board has appointed Ms. Vaishnavi Nalabala, a management professional with experience at EY and Deloitte, as an Independent Director.
Key Highlights
Acquisition of SLN Terminus Hotels for ₹206 Crores to become a wholly-owned subsidiary.
Target entity operates a Marriott-associated hotel with 75 long-stay rooms across 1,65,000 sq. ft. in Hyderabad.
Target's revenue grew from ₹33.86 Crores in FY23 to ₹43.36 Crores in FY25.
Total consideration includes ₹105.65 Crores for land purchase and ₹59.67 Crores for share acquisition.
Appointment of Ms. Vaishnavi Nalabala as Additional Director in the Independent Category.
💼 Action for Investors
Investors should view this as a significant capacity expansion in a prime Hyderabad location, though the related party nature of the deal requires monitoring of valuation fairness. Watch for the impact of the ₹206 Crore cash consideration on the company's leverage and liquidity.
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VHLTD Board Meeting Outcome: Vaishnavi Nalabala Appointment, SLN Terminus Acquisition
Viceroy Hotels Limited's board approved the appointment of Ms. Vaishnavi Nalabala as an Additional Director (Independent Category). The company also approved the acquisition of SLN Terminus Hotels and Resorts Private Limited for ₹206.00 Crores. SLN Terminus reported a turnover of ₹4336.04 lakhs and a profit after tax of ₹679.62 lakhs for FY 2024-2025. Shareholders should note the Extra-Ordinary General Meeting scheduled for December 27, 2025, to approve these decisions.
Key Highlights
Appointed Ms. Vaishnavi Nalabala as Additional Director (Independent Category) effective 01.12.2025.
Approved acquisition of SLN Terminus Hotels and Resorts Private Limited for ₹206.00 Crores.
SLN Terminus Hotels and Resorts Private Limited turnover for FY 2024-2025 was ₹4336.04 Lakhs.
Extra-Ordinary General Meeting scheduled for 27-Dec-2025 at 11:00 a.m.
Reconstituted Committees of the Board w.e.f. 01.12.2025.
💼 Action for Investors
Investors should review the details of the SLN Terminus acquisition and Ms. Nalabala's background. Attend or vote in the Extra-Ordinary General Meeting on December 27, 2025, to express your opinion on these key decisions.