Advent Hotels International Limited (ADVENTHTL) share price

₹128.56 on NSE as of 2026-09-11. -2.89% on the day. market cap ₹693 Cr. P/E 58.2. 52-week range ₹120.90 to ₹328.65. Consumer Services.

Advent Hotels Q1 FY27: Revenue Flat at ₹80.5 Cr, PAT ₹6.17 Cr, and a ₹504 Crore Deal for Half a Subsidiary

At a glance

Advent Hotels International owns two hotels. Revenue for the June 2026 quarter came in at ₹80.52 crore, against ₹80.45 crore a year earlier — a difference of seven lakh rupees, which in a ₹764 crore company is the rounding error you apologise for at the bottom of a slide. Two hotels ran for ninety-one days and produced almost exactly what they produced last June.

Below that line, things move around considerably more. Operating profit was ₹26.28 crore against ₹21.35 crore, so the margin went from 26.5% to 32.6%. Interest cost fell to ₹10.15 crore from ₹13.64 crore. Profit after tax attributable to owners was ₹6.17 crore versus ₹32.51 crore — but the June 2025 quarter carried an exceptional item of ₹41.58 crore, and the June 2026 quarter carried none. Take that out and the comparison stops being a cliff.

The quarter's actual headline sits in the notes rather than the numbers. On 4 June 2026 the company registered a conveyance deed transferring 21,978 square metres of land at Village Sahar, Andheri, to its wholly owned subsidiary ACHIL for ₹275 crore, booking a standalone profit on sale of ₹190.03 crore. On 3 July 2026 — after the quarter closed — Prestige Estates signed an investment agreement to acquire 50% of that same ACHIL for ₹504 crore.

So: the operating business stood perfectly still, and the corporate structure did gymnastics. Both of those are in this quarter's filing, and only one of them shows up in revenue.

Introduction

Advent Hotels International Limited was, until recently, Shiva Realtors Suburban Private Limited — a name change that tells you most of what you need to know about how this company arrived on an exchange. It did not IPO. It was demerged.

Under a Composite Scheme of Arrangement sanctioned by the NCLT Mumbai Bench on 12 June 2025, the hospitality business of Valor Estate Limited — formerly DB Realty — was carved out and dropped into this entity. The appointed date was 1 April 2025; the effective date 1 July 2025. Because Valor Estate was the common-control parent, the transaction was accounted for under the pooling-of-interests method per Appendix C of Ind AS 103, which required the combination to be booked as though it had occurred on the company's date of incorporation: 15 November 2006. The auditors flagged this in an Emphasis of Matter and left their conclusion unmodified.

The practical consequence is that the June 2025 comparatives have been restated, and that the pre-demerger financial history of this company is the financial history of a hospitality division inside a real estate developer. Anyone opening the annual columns will find a share count of 20,000 in FY24 and FY25, and 5,39,42,887 shares by March 2026 — 5,39,42,887 of which were allotted under the scheme in the interim.

Since listing, the corporate activity has been steady. February 2026: a postal ballot seeking approval for corporate guarantees and pledges backing subsidiary NCDs of up to ₹740 crore — ₹550 crore for Goan Hotels, ₹190 crore for BD&P. March 2026: board approval sought to sell 9,89,900 shares of Bamboo Hotel & Global Centre (Delhi) for ₹596.70 crore and assign roughly ₹1,058.89 crore of loans, both back to Valor Estate. July 2026: Prestige Estates and the ACHIL agreement.

The demerger separated the hotels from the developer. The filings show a fair amount of traffic still moving between them.

Business model

Two hotels. That is the operating business, and it is worth sitting with that before the pipeline arrives and drowns everything.

Grand Hyatt Goa: 313 keys, owned, with a 113-key expansion in progress. Hilton Mumbai International Airport: 171 keys, owned. Total 484 keys as of FY25. Neither is managed by Advent — the Hyatt is a Hyatt and the Hilton is a Hilton, run under hotel management agreements by operators whose names go on the porte-cochère. Advent owns the concrete, the land under it, and the profit that survives the management fee.

Revenue mix, per the Q1 FY26 disclosure: rooms 64%, MICE and events 19%, food and beverage 13%, other 4%. Occupancy 82%, average room rate ₹13,085, RevPAR ₹10,769. It is a business where two-thirds of the money comes from people sleeping and a fifth comes from people holding conferences in a ballroom in Goa, which is a more resilient combination than it sounds.

Then there is the pipeline, which is where the company's stated ambition lives. Five luxury and upper-upscale hotels are under development in Mumbai and Delhi — St. Regis and Marriott Marquis at Aerocity Delhi, Waldorf Astoria and Hilton at Worli Mumbai — for a combined 778 keys. Beyond that, a forthcoming pipeline of 1,725 keys: The Prestige Place Mumbai at 550 keys and Riverwalk BKC at 1,175 keys, both structured as JV or revenue share, plus 5.4 acres at Codename Sahar still in planning.

The stated target is 484 keys in FY25 to 1,375 by FY29E and roughly 3,100 by FY31–33E, at guided investment of ₹1.5–2.0 crore per key, reaching approximately ₹1,400 crore of stabilised annuity revenue and ₹660 crore stabilised annuity EBITDA by FY32E.

Every brand in that list is somebody else's. Advent's job in this arrangement is to be the entity that assembles land, capital and a flag, and then collects rent from the traveller in a bathrobe. Two of those hotels exist. The other 2,600 keys are a plan with a date attached to it.

Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for Advent Hotels International Limited.

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