Apeejay Surrendra Park Hotels Limited (ASPHL) is a prominent hospitality company incorporated in 1987, operating in the business of providing hospitality services. The company was formerly known as Budget Hotels Limited and changed its name to Apeejay Surrendra Park Hotels Limited in March 2004, originally founded in 1967 and based in New Delhi, India.
ASPHL operates in the hospitality sector, known for its upscale hotels and diverse food and beverage offerings. It manages hotels across owned, leased, and managed models under five upscale and upper mid-scale brands. The company has established itself as a key player in India's hospitality industry, with a strong presence across multiple segments including hotels, restaurants, and retail food services.
The company operates hotels under THE PARK, THE PARK Collection, Zone by The Park, Zone Connect by The Park, and Stop by Zone brand names. It also operates restaurants, cafes, and kiosks under the Flurys brand name. The company has well-established brands with 55 years of experience, having won many awards for both the hotels and restaurants segment, and is strategically located across metros and emerging cities with a diversified portfolio of 30 owned, and 13 managed and leased hotels.
ASPHL has a pan-India presence in metros such as Bangalore, Chennai, Hyderabad, Kolkata, Mumbai, Delhi NCR as well as in other major cities such as Coimbatore, Goa, Jaipur, Jodhpur, Jammu, Navi Mumbai, Raipur and Visakhapatnam. The company also has a strong presence in F&B and entertainment, with restaurants, nightclubs, and bars, and operates the retail F&B brand 'Flurys,' offering kiosks, cafes, and restaurants.
The company's financial performance has shown consistent growth, with recent quarterly and annual results indicating a positive trend.
In Q3FY25, Apeejay Surrendra Park Hotels reported a total income of ₹178.59 crores, marking a significant growth of 14.2% compared to Q2FY25 where the total income was ₹156.33 crores. The company witnessed a growth of 9.2% on a year-on-year basis. The net profit increased 20.2% QoQ and increased 17.3% YoY.
During Q3FY25, the company achieved a profit before tax of ₹45.38 crores, reflecting a quarter-over-quarter increase of 16.6% from ₹38.92 crores in Q2FY25. Year-over-year, the PBT increased by 58.2% from ₹28.69 crores in Q3FY24. Profit after tax for Q3FY25 was ₹32.16 crores, up by 20.2% from Q2FY25's ₹26.76 crores and 17.3% higher than Q3FY24's ₹27.42 crores.
For the full year ended March 2025, net profit rose 21.51% to Rs 83.59 crore as against Rs 68.79 crore during the previous year ended March 2024. Sales rose 9.06% to Rs 631.45 crore in the year ended March 2025 as against Rs 578.97 crore during the previous year ended March 2024.
• Q3 FY2024-25 Performance: Net Sales of ₹178.59 crores, Net Profit of ₹32.16 crores
• Annual Performance FY2024-25: Net Sales of ₹631.45 crores, Net Profit of ₹83.59 crores
• Revenue Growth: Over the past 5 years, the revenue has grown at a CAGR of 7.5%.
• Profitability: The company has delivered good profit growth of 44.0% CAGR over last 5 years.
• Market Capitalization: ₹3,197 crores (as of July 2025)
• Promoter Holding: 68.1%
As of July 2025, the company has a market capitalization of ₹3,197 crores. The stock is trading at 2.61 times its book value with promoter holding at 68.1%. The current market capitalisation stands at Rs 34,705.31 million. As of March 2025, company promoters held 68.14% stake with no shares having been pledged.
The company recently acquired a 90% stake in Zillion Hotels for Rs.209.25 crores, with its credit rating stable at A+/A1. The company has re-appointed Priya Paul and appointed Ranjit Pachnanda as directors for five years, with board approvals for Ms. Priya Paul's remuneration and Mr. Pachnanda's appointment as Independent Director.
Apeejay Surrendra Park Hotels Ltd is listed and trades on the NSE stock exchange under the symbol "APEJ". The company's shares are also listed on the BSE.
The company presents a mixed investment profile. While the company has reduced debt and shows strong profit growth, it has a low return on equity of 4.66% over the last 3 years. Though the company is reporting repeated profits, it is not currently paying out dividends.
The hospitality sector in India continues to show growth potential, with demand expected to grow at a CAGR of 10.6% between FY24 and FY27, while the Indian restaurant services industry is estimated to grow at a CAGR of 10% to 12% by FY28.
ASPHL's established brand portfolio, strategic locations across major Indian cities, and consistent financial performance make it a notable player in India's hospitality sector. The company's diversified business model spanning hotels, restaurants, and retail food services provides multiple revenue streams and growth opportunities in the expanding Indian hospitality market.
