Apeejay Surrendra Park Hotels Limited (ASPHL) reported strong financial results for the first quarter of FY27, with revenue from operations increasing by 8.1% year-on-year to ₹166.8 crore. The company also achieved 92% occupancy, the highest in India within the upper upscale segment. ASPHL plans further expansion with 45 hotels and 4,042 keys under development.
Apeejay Surrendra Park Hotels Announces Strong Q1 FY27 Performance
Apeejay Surrendra Park Hotels Limited (ASPHL) has announced its financial results for the first quarter and three months ended June 30, 2026. The company demonstrated robust operating momentum, achieving 92% occupancy, which is reported as the highest in India for the upper upscale segment. ASPHL also maintained its market leadership in RevPAR within this segment.
Key Financial Highlights for Q1 FY27
For the first quarter of FY27, ASPHL’s revenue from operations stood at ₹166.8 crore, marking an increase of 8.1% compared to the same period last year. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) saw a growth of 3.3% year-on-year, reaching ₹47 crore. The profit after tax (PAT) for the quarter was reported at ₹11.5 crore. In comparison, for Q1 FY26, revenue from operations was ₹154.3 crore and PAT was ₹13.4 crore.
Expansion and Growth Strategy
ASPHL’s growth trajectory is significantly driven by its strategic expansion into Tier II and Tier III cities. During the year, the company acquired control of Zillion Hotels and Resorts Private Limited, Fisherman’s Grove Resorts Private Limited, and Thali Hotels and Destinations Private Limited. These acquisitions are aimed at broadening the company’s hospitality footprint in key tourism destinations, including Mumbai and Kerala.
Currently, ASPHL operates 42 hotels with a total of 2,677 keys. The company has a significant development pipeline, with an additional 45 hotels and 4,042 keys under development, projecting a total planned inventory of 6,719 keys by FY2030.
Flurys Brand Performance
The company’s iconic bakery and confectionery brand, Flurys, continues to expand its reach, now operating 111 outlets. Flurys is targeting the opening of 30 new outlets this year, reinforcing its position for further growth and aligning with the company’s strategy to scale its retail presence while preserving brand equity.
Management Commentary
Mr. Vijay Dewan, Managing Director, Apeejay Surrendra Park Hotels, commented on the Q1 FY27 performance, stating, “We have started FY27 with a positive momentum, demonstrating the resilience and strength of our business model. Despite headwinds, we have achieved 92% occupancy – the highest in India and continued our leadership in RevPAR in the upper upscale segment, affirming the strength of our brands and the relevance of our differentiated hospitality proposition.” He also highlighted record-breaking sales of service apartments in the EM Bypass Kolkata project, which significantly improved cash flows.
About Apeejay Surrendra Park Hotels Limited
Apeejay Surrendra Park Hotels Limited (ASPHL) is a prominent player in the hospitality sector, recognized for its upscale properties and diverse food and beverage offerings. Established in 1967, the company operates under five distinct brands: THE PARK, THE PARK Collection, Zone by The Park, Zone Connect by The Park, and Stop by Zone. ASPHL’s portfolio also includes entertainment venues and a strong presence in the retail food and beverage sector through its brand ‘Flurys’. The company is listed on both the BSE Ltd and the National Stock Exchange of India Ltd.
Source: BSE
