About Kamat Hotels (India) Limited

Kamat Hotels (India) Limited (KHIL) is an Indian hospitality company incorporated on March 21, 1986, domiciled in India, and listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The registered office is located in Mumbai, Maharashtra.

KHIL is engaged in the hospitality business, operating hotels across Maharashtra (including Mumbai, Pune, Nashik, Murud, and Aurangabad), Goa (Benaulim), Odisha (Puri, Konark), Gujarat (Jamnagar), and Uttar Pradesh (Ayodhya, Noida). The Company currently manages 19 properties in the 4-star and 5-star categories, located in Mumbai, Pune, Nashik, Gujarat, Bhubaneshwar, Konark, Puri, Shimla, Manali, Goa, Chandigarh, Noida, and Ayodhya, offering a total of 1,824 operational keys.

KHIL’s brand portfolio spans both premium and mid-premium hospitality segments. Its premium brands include The Orchid, Fort JadhavGadh, and Mahodadhi Palace, while Lotus Resorts and IRA by Orchid cater to the mid-premium segment. This brand mix allows KHIL to serve a diverse clientele — from luxury and business travellers to budget-conscious guests and heritage tourism enthusiasts.

The Company’s business model integrates management agreements, lease arrangements, and revenue-sharing contracts for the management and operation of properties across India.

At the group level, KHIL’s consolidated financial statements include seven subsidiaries and one joint venture, reflecting a multi-entity structure that supports its growth, diversification, and asset-light expansion strategy.

Key milestones in FY 2024–25 include the launch of multiple new hotels and the full repayment of previously issued non-convertible debentures (NCDs) — a development that led to the release of associated security and pledged assets, strengthening KHIL’s financial position and balance sheet.

Kamat Hotels (India) Limited Key Management

• Dr. Vithal V. Kamat – Executive Chairman & Managing Director
• Mrs. Smita B. Nanda – Chief Financial Officer
• Mr. Nikhil Singh – Company Secretary & Compliance Officer

Latest Updates on Kamat Hotels (India) Limited

• Portfolio expansion: KHIL inaugurated several new hotels during FY 2024–25 —
  • The Orchid – Toyam, Pune (21 rooms, wellness retreat)
  • IRA by Orchid – Noida (34 rooms)
  • IRA by Orchid – Ayodhya (49 rooms)
  • The Orchid – Chandigarh (122 rooms)
    These additions expanded KHIL’s footprint and enhanced guest facilities in key markets across India.
• Operating model: The Company continued to grow through management, lease, and revenue-sharing agreements, demonstrating its focus on asset-light expansion while maintaining operational efficiency.
• Balance sheet actions: KHIL fully repaid its secured, rated, listed redeemable NCDs during the year, leading to the release of hypothecation and pledged securities tied to those instruments — a significant financial milestone reflecting improved leverage and governance.
• Debt profile: As per consolidated results, KHIL reported a 36.1% year-on-year reduction in debt, with interest coverage improving to 3.2x and a debt-to-equity ratio of 0.46x, indicating a strengthened financial position.
• Governance changes: On April 4, 2024, nominee directors of Purple Clover Tree LLP resigned following the complete repayment of NCDs. Later, on August 12, 2024, Mr. Kaushal K. Biyani was appointed as an Additional Director (Non-Executive, Non-Independent) on behalf of the Alpha Group, with his appointment regularised at the AGM on September 27, 2024.

Shareholder approvals: Members approved entering into a material related party transaction with Plaza Hotels Private Limited for an amount up to Rs 90 crore per annum for FY 2024–25, FY 2025–26, and FY 2026–27. This covers a Business Contract Agreement and a Memorandum of Understanding for a term not exceeding 30 years, supporting long-term business collaboration.