Kamat Hotels (India) Limited, the flagship company of the Kamat Group, was incorporated in 1986 with the primary objective of establishing and operating hotels across India. The company is engaged in the hospitality business, operating hotels and restaurants, including timeshare properties, clubs, resorts, and heritage hotels. It also offers hotel consultancy, setup services, and other related activities.
The company's globally recognized brand 'The Orchid' an Ecotel Hotel was Asia's first chain of a 5-star, environment-sensitive hotel, positioned in the mid to up-market category. Kamat Hotels (India) operates a diverse portfolio of luxury and mid-premium hotels across India. Their brands include the Orchid chain, along with Fort JadhavGadh, Mahodadhi Palace, Lotus Resorts, and IRA by Orchid.
Kamat Hotels operates under five distinct brands, managing 16 properties across six states in India, including major cities like Mumbai, Pune, and Bhubaneswar. The company has hotels in the states of Maharashtra (Mumbai, Pune, Nashik, Murud), Goa (Benaulim), and Orissa (Puri, Konark).
The properties predominantly fall within the 4-star and 5-star categories, totalling approximately 1600 rooms with an average room rate of ₹6,500 as of March 2024. The company's heritage collection includes Fort Jadhavgadh and Mahodadhi Palace. Its leisure hotels include Lotus Eco Beach Resort Konark, Lotus Eco Beach Resort Murud-Harnai, and Lotus Eco Beach Resort Goa. Its Vithal Kamat Original Family Restaurants are located in Konark Sun Temple, Puri, Bhubaneswar, Andheri, Nasik, and Manor.
Kamat Hotels (India) Ltd has a market capitalization of ₹712.98 crore as of May 28, 2025. The company's financial performance has shown significant improvement. On a full-year basis, the company's net profit jumped 3.32% to ₹46.63 crore on a 19.1% rise in revenue to ₹362.49 crore in FY24 over FY23.
The company demonstrated resilience in its Q4 FY25 performance, reporting a 9.5% year-on-year revenue growth despite facing challenges such as fluctuating occupancy rates and a significant decline in food and beverage revenues.
- Market Capitalization: ₹712.98 Crore (as of May 28, 2025)
- FY2024 Performance:
- Revenue: ₹362.49 crore
- Net Profit: ₹46.63 crore
- Q4 FY2025 Performance:
- Sales: ₹92.46 crore (up 9.41% YoY)
- Net Profit: ₹10.99 crore (up 415.96% YoY)
- Profit Before Tax: ₹16.19 crore (up 96.96% YoY)
- FY2025 (Projected/Reported):
- Sales: ₹362.49 crore (up 19.10% YoY)
- Net Profit: ₹46.58 crore (up 3.86% YoY)
- P/E Ratio: 15.30
- P/B Ratio: 3.47
- Promoter Holding: 57.78% (as of Mar 2025)
- Debt to Equity: 45%
The company is optimistic about future growth, particularly with new hotel openings in premium destinations and ongoing renovations aimed at enhancing operational efficiency and customer experience. Kamat Hotels inaugurated a new property, The Ira by Orchid, in Ayodhya on April 17, 2024, as part of its expansion strategy.
Looking forward, Kamat Hotels plans to increase its property count to 25 and the number of keys to over 2200 by FY 2025, aiming for a revenue target of ₹400 crore. The company focuses on continuous property improvement and expansion, primarily utilizing lease agreements, revenue sharing, and management contracts for growth.
Kamat Hotels has achieved a substantial reduction in debt, decreasing by 39% from ₹327.3 crore in FY23 to ₹172.5 crore in FY24, significantly strengthening its financial position. The company has a reasonable debt-to-equity ratio of 45%, which signals a healthy balance sheet. Effective debt management remains a priority to support its expansion plans.
The promoter holding in Kamat Hotels (India) Ltd has remained steady at 57.78 per cent as of March 2025. Vithal V Kamat, the Executive Chairman & M.D., leads the company's strategic direction. The company operates through various subsidiaries including Orchid Hotels Pune Private Limited, Orchid Hotels Eastern (I) Private Limited, Kamats Restaurants (India) Private Limited, and Mahodadhi Palace Private Limited.
The 52-week high for Kamat Hotels (India) Ltd is ₹353.60 and the 52-week low is ₹175. While the company is reporting repeated profits and has delivered good profit growth of 30.2% CAGR over the last 5 years, it is not currently paying out dividends. The cautious outlook for FY26 reflects concerns over immediate revenue generation from new properties and the potential impact of an increased mix of leased hotels on EBITDA margins. Strategic partnerships and a focus on technology integration are expected to bolster financial health.
