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VHLTD - Viceroy Hotels

📊 NSE: VHLTD 🏢 Hotels 📅 Last Updated: 12/14/2025 15:05

📢 Recent Corporate Announcements

Viceroy Hotels Wins Legal Battle; Tribunal Lifts Attachment on Courtyard by Marriott Property

🟢 POSITIVE ⭐ 8/10

LEGAL 📅 30 Apr 2026, 05:18 PM

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.

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.

💡 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.

Viceroy Hotels Ltd Confirms Non-Large Corporate Status for FY 2025-26

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 20 Apr 2026, 03:56 PM

Viceroy Hotels Limited has submitted its annual disclosure to the exchanges, confirming that it does not meet the criteria to be classified as a Large Corporate (LC) for the financial year 2025-26. Under SEBI regulations, Large Corporates are required to raise a portion of their incremental borrowings through debt securities, a rule which does not apply to the company at this time. The company reported zero actual borrowing through debt securities for the period. This is a routine compliance filing and does not indicate any change in the company's operational status.

VHLTD does not fall under the Large Corporate category as per SEBI circular SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172.
Actual borrowing done through debt securities in FY 2025-26 was reported as Nil.
The mandatory 25% borrowing requirement through debt securities is Not Applicable to the company.
No penalties or fines are applicable for the previous block period ending FY 2025-26.

💡 This is a routine regulatory disclosure with no impact on business fundamentals. Investors should continue to monitor the company's quarterly financial performance and hospitality sector trends.

Viceroy Hotels Submits SEBI Reg 74(5) Compliance Certificate for Q4 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 14 Apr 2026, 05:48 PM

Viceroy Hotels Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The filing confirms that the company's Registrar and Share Transfer Agent (RTA), Aarthi Consultants Private Limited, has processed all dematerialization requests for the quarter ended March 31, 2026. The RTA confirmed that share certificates were mutilated and cancelled, and the depository's name was substituted in the records within the mandated 15-day period. This is a standard administrative disclosure required for all listed entities in India.

Compliance certificate submitted for the quarter ended March 31, 2026.
Confirmation provided by Registrar and Share Transfer Agent (RTA) M/s. Aarthi Consultants Private Limited.
Dematerialization requests were processed and confirmed within the statutory 15-day timeframe.
Verification that securities comprised in the certificates are listed on the relevant stock exchanges.

💡 No action is required from investors as this is a routine regulatory filing. Investors should monitor upcoming quarterly financial results for a better understanding of the company's performance.

VHLTD Assigned 'CARE BBB; Stable' Rating for ₹230.33 Cr Bank Facilities

🟢 POSITIVE ⭐ 7/10

REGULATORY 📅 14 Apr 2026, 05:42 PM

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.

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

💡 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.

Viceroy Hotels Announces Trading Window Closure from April 1, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 24 Mar 2026, 11:28 AM

Viceroy Hotels Limited has announced the closure of its trading window starting April 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This closure is a standard procedure ahead of the board meeting to consider and approve the audited financial results for the quarter and year ending March 31, 2026. The window will remain closed for all designated persons and their immediate relatives until 48 hours after the results are declared. This ensures that no insider trading occurs before sensitive financial data is made public.

Trading window closure to commence on April 1, 2026.
Closure pertains to the audited financial results for the quarter and year ended March 31, 2026.
Trading restriction applies to all designated persons, immediate relatives, and connected persons.
The window will reopen 48 hours after the official announcement of the financial results.
A separate notice regarding the specific date of the Board Meeting will be issued later.

💡 This is a routine regulatory filing with no direct impact on stock valuation. Investors should monitor for the upcoming board meeting date to assess the company's full-year financial performance.

VHLTD to Host Virtual Group Investor Meeting on March 20, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 16 Mar 2026, 04:58 PM

Viceroy Hotels Limited (VHLTD) has scheduled a virtual group meeting with analysts and institutional investors on March 20, 2026. The meeting is slated to occur between 11:00 AM and 12:00 PM IST. The company has clarified that the discussions will be restricted to information already available in the public domain. This routine interaction is part of the company's ongoing investor relations efforts to maintain transparency with the market.

Virtual group meeting with investors scheduled for March 20, 2026.
The interaction is set for a 1-hour duration from 11:00 AM to 12:00 PM IST.
Discussions will be based strictly on publicly available information.
The meeting is being conducted in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.

💡 Investors should look for any subsequent filings regarding meeting transcripts or presentations to understand management's perspective. No immediate trading action is required based on this routine announcement.

Viceroy Hotels Q3 PAT Jumps 50% to ₹10.9 Cr; Acquires Marriott Executive Apartments for ₹215 Cr

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 17 Feb 2026, 04:37 PM

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.

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.

💡 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.

Viceroy Hotels Releases Q3 FY26 Post-Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

EARNINGS 📅 11 Feb 2026, 06:11 PM

Viceroy Hotels Limited has released the audio recording of its post-earnings conference call held on February 11, 2026. The call discussed the company's financial performance for the third quarter and the nine-month period ending December 31, 2025. This disclosure is a standard regulatory requirement under SEBI Listing Regulations to ensure transparency for all shareholders. Investors can access the recording via the link provided on the company's official website to hear management's commentary on recent operations.

Earnings call conducted on February 11, 2026, for Q3 and 9M FY26 results.
Audio recording made available on the company's official website for public access.
Compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.
Focuses on performance metrics for the period ending December 31, 2025.

💡 Investors should listen to the recording to gain insights into management's outlook on occupancy rates and the company's financial health. It is a useful resource for understanding the qualitative factors behind the Q3 numbers.

Viceroy Hotels Q3 PAT Surges 50% to ₹10.93 Cr; Acquires Gachibowli Property for ₹215 Cr

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 11 Feb 2026, 03:09 PM

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.

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

💡 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.

Viceroy Hotels Announces ₹100 Cr Renovation and ₹215 Cr Acquisition Post-Insolvency Exit

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 11 Feb 2026, 03:03 PM

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.

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.

💡 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.

VHLTD Q3 Net Profit Jumps 50% YoY to ₹10.93 Cr; Completes ₹206 Cr Acquisition

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 11 Feb 2026, 02:06 PM

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.

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.

💡 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.

VHLTD Q3 Net Profit Jumps 50% YoY to ₹10.93 Cr; Acquires SLN Terminus for ₹206 Cr

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 11 Feb 2026, 02:02 PM

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.

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.

💡 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.

Viceroy Hotels to Host Q3 & 9MFY26 Earnings Call on February 11, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 06 Feb 2026, 12:17 PM

Viceroy Hotels Limited has scheduled a conference call for analysts and investors on Wednesday, February 11, 2026, at 3:30 PM IST. The call will discuss the company's financial results for the third quarter and the nine-month period ended December 31, 2025. Key management personnel, including the CFO and COO, will be present to address queries and provide operational updates. This is a standard regulatory procedure following the release of quarterly financial figures.

Earnings call scheduled for February 11, 2026, at 03:30 PM IST.
Focus on financial performance for Q3 and 9M FY 2025-26.
Management participants include CFO Venkata Krishna Reddy Puli and COO Pradyumna Kodali.
Universal dial-in numbers provided are +91 22 6280 1550 and +91 22 7115 8378.
Pre-registration via Diamond Pass is available to bypass the wait time.

💡 Investors should attend or review the transcript of the call to understand management's outlook on the hospitality sector and the company's debt-restructuring progress. Monitor the call for updates on occupancy rates and average daily rates (ADR).

Viceroy Hotels Submits SEBI Reg 74(5) Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 09 Jan 2026, 04:50 PM

Viceroy Hotels Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the period ending December 31, 2025. The filing confirms that the company's Registrar and Share Transfer Agent, Aarthi Consultants Private Limited, has processed all dematerialization requests within the mandatory 15-day timeframe. This involves the mutilation and cancellation of physical share certificates and updating depository records. This is a standard administrative procedure to ensure the integrity of electronic shareholding.

Compliance certificate issued for the quarter ended December 31, 2025.
Confirmation that dematerialization requests were handled within the 15-day regulatory window.
Physical share certificates were mutilated and cancelled as per SEBI requirements.
Aarthi Consultants Private Limited acted as the Registrar and Share Transfer Agent (RTA) for this process.

💡 No action is required from investors as this is a routine regulatory filing. Investors should continue to monitor the company's operational performance and upcoming financial results.

VHLTD Acquires 1.57 Lakh Sq. Ft. Property in Hyderabad for Hospitality Expansion

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 31 Dec 2025, 07:59 PM

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.

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.

💡 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.

View All VHLTD Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

F&B and Banqueting segments contribute 45% to 48% of total revenue. Management expects a 30% to 35% increase in annual revenue once the current phase-wise renovation of the existing portfolio is completed. Standalone operating income grew 32.28% from INR 40.74 Cr in FY23 to INR 53.89 Cr in FY24.

Geographic Revenue Split

100% of revenue is derived from Karnataka, India, specifically from three hotels located in Bengaluru (Jayanagar and Kumara Park) and Hubballi.

Profitability Margins

Net Profit Margin (PAT Margin) improved from -1.79% in FY23 to 2.80% in FY24. For Q2 FY26, Profit Before Tax (PBT) was INR 4.3 Cr and Profit After Tax (PAT) was INR 4.38 Cr, aided by deferred tax adjustments.

EBITDA Margin

EBITDA margin for Q2 FY26 stood at 27.7% (INR 8.82 Cr), while the H1 FY26 EBITDA margin was 23.4% (INR 13.64 Cr). The Q2 FY26 margin reflects a slight decline from 27.79% in Q2 FY25.

Capital Expenditure

The company is undertaking a material acquisition of SLN Terminus Hotels and Resorts Private Limited and associated land for INR 206 Cr, representing 150.05% of the previous year's consolidated turnover. Additionally, phase-wise renovations are ongoing across the existing portfolio to upgrade MEP (Mechanical, Electrical, Plumbing) equipment.

Credit Rating & Borrowing

CRISIL Rating is 'Stable'. Gearing (Adjusted Debt/Adjusted Networth) was significantly high at 6.23 times as of March 31, 2024, compared to 5.57 times in FY23. Interest coverage ratio was 2.54 times in FY24.

⚙️ Operational Drivers

Raw Materials

Key operational costs include F&B supplies (45-48% of revenue mix) and MEP equipment (generators, chillers, piping) which are critical for back-of-house efficiency.

Import Sources

Not disclosed in available documents; however, suppliers are established through four decades of promoter relationships within India.

Capacity Expansion

Current capacity consists of 3 three-star hotels under 'The President Hotel' brand. Expansion includes the acquisition of SLN Terminus Hotels and Resorts and the addition of a 6th restaurant and 1 bakery to the F&B portfolio.

Raw Material Costs

F&B and banqueting costs are primary, with the segment representing ~45% of revenue. Management is focusing on MEP upgrades to reduce future maintenance cost outliers and protect profit margins.

Manufacturing Efficiency

Bank limit utilization averaged a high 92% for the 12 months ended September 2024, indicating tight operational liquidity.

📈 Strategic Growth

Expected Growth Rate

10%

Growth Strategy

Growth will be achieved through a 10% target to beat the 7-8% industry CAGR, supported by a 30-35% revenue jump post-renovation. Strategic expansion includes the INR 206 Cr acquisition of SLN Terminus to strengthen the asset base and prime land ownership, alongside digital transformation to enhance guest experience.

Products & Services

Three-star hotel room stays, banqueting services, restaurant dining (6 outlets), and bakery products.

Brand Portfolio

The President Hotel, Viceroy Hotels Limited (VHL).

New Products/Services

Addition of a 6th restaurant to the existing 5-restaurant portfolio and expansion of bakery services.

Market Expansion

Strategic focus on Hyderabad as a high-growth avenue due to maturing zones like Gachibowli and Madhapur, and expansion into emerging markets through new property developments.

Strategic Alliances

The company works with external operators for its portfolio and has established relationships with suppliers over 40 years.

🌍 External Factors

Industry Trends

The hospitality industry is projected to grow at a 7% to 8% CAGR. Demand in hubs like Hyderabad is currently outstripping supply, driven by medical tourism and global RFPs.

Competitive Landscape

Intense competition from major domestic players and increasing presence of foreign hotel brands in India.

Competitive Moat

Moat consists of 40+ years of promoter experience and ownership of prime land/building assets in high-performing zones like Bengaluru and Hubballi, which ensures stable occupancy.

Macro Economic Sensitivity

Highly sensitive to domestic and international economic cycles; the industry typically follows a six-year cycle.

Consumer Behavior

Rising travel and tourism demand and evolving guest expectations for digital-first experiences.

Geopolitical Risks

Geopolitical uncertainties are noted as risks that may impact global travel patterns and guest arrivals.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with SEBI (LODR) Regulations and Section 177 of the Companies Act, 2013. The company underwent CIRP proceedings with new management taking over on 12.10.2023.

Taxation Policy Impact

Effective tax rate impacted by deferred tax adjustments, resulting in a PAT of INR 4.38 Cr against a PBT of INR 4.3 Cr in Q2 FY26.

Legal Contingencies

The company recently emerged from Corporate Insolvency Resolution Process (CIRP) proceedings (12.10.2023). Specific pending court case values are not disclosed.

⚠️ Risk Analysis

Key Uncertainties

High financial leverage (6.23x gearing) and stretched liquidity (0.64 current ratio) pose significant risks to operational agility during economic downturns.