Ventive Hospitality Limited (formerly known as ICC Realty (India) Private Limited) was incorporated as a Private Limited Company on February 12, 2002. The company is a premier division of Panchshil Realty, a hospitality asset owner focusing on luxury offerings across business and leisure segments. The status of the Company got converted from Private Limited to Public Limited and the name of the Company has changed to Ventive Hospitality Limited pursuant to a fresh Certificate of Incorporation issued by the Registrar of Companies, Pune on August 28, 2024.
Ventive Hospitality has established itself as a leading luxury hospitality asset owner in India and the Maldives. The company launched its IPO on 20 December 2024, with an issue size of INR 1,600 crore, and the issue got a strong 9.8X subscriptions and was listed at a 9.5% premium over investment.
All its hospitality assets are operated by or franchised from global operators, including Marriott, Hilton, Minor and Atmosphere. The company's portfolio comprises 11 operational hospitality assets in India and Maldives, totalling 2,036 keys across the luxury, upper and upscale segments as at September 30, 2024.
The company operates across multiple business segments to generate diverse revenue streams. Ventive Hospitality Limited is engaged in the business of leasing of commercial spaces, operation of a retail mall, operation of a commercial hotel and operation of windmills. The Company operates in three segments: Commercial leasing, Hospitality, and Windmills. The Commercial leasing segment includes leasing operations comprising lease rentals from the properties given under lease, while the Hospitality segment includes hotel operations, sale of rooms, food and beverages and allied services related to hotel operations, including income from telecommunication and Internet services.
Ventive Hospitality delivered exceptional financial performance in FY25, marking significant milestones in its operational journey. The company reports FY25 revenue of Rs 2,160 crore, EBITDA of Rs 1,012 crore, with 13% and 16% growth respectively. The EBITDA margin for the full year stood at 47%, demonstrating strong operational efficiency.
For the full year FY25, PAT for FY25 stood at INR 54.4 crore, reversing a loss of INR 66.7 crore in FY24. The hospitality division alone contributed INR 1,604 crore to revenue, with EBITDA from the segment growing 34% YoY to INR 553 crore.
The fourth quarter of FY25 showed particularly strong performance across all key metrics. The company reported revenue of INR 717.2 crore in Q4 FY25, up 20% year-on-year (YoY), with EBITDA of INR 370.9 crore, up 23% YoY. EBITDA margin expanded by 200 bps to 52%, while Profit after tax (PAT) was INR 151 crore, up from INR 47.3 crore in Q4 FY24.
- Revenue Growth: FY25 revenue of Rs 2,160 crore, representing 13% growth
- EBITDA: Rs 1,012 crore for FY25, up 16% YoY
- Market Cap: Rs 18,461 crore as at September 30, 2024
- Profit After Tax: TTM profit after tax of Rs 166 crore
- Net Debt Reduction: Net Debt reduced from INR 3,407 crore to INR 1,745 crore as of 31 March 2025
Ventive Hospitality has demonstrated strong operational metrics across its portfolio. The India portfolio outperformed with 24% YoY growth in RevPAR and 25% YoY growth in TRevPAR driven by MICE (Meetings, Incentives, Conferences & Exhibitions) demand, weddings and high end leisure travel.
The company's operational efficiency is reflected in its industry-leading metrics. Strong demand in Q4 helped drive up Average Daily Rate (ADR) by 16% yoy in India, and by 5% overall. MICE and weddings in Q4 led to overall occupancy rising to 71% during the quarter. The company's RevPAR grew by 11% yoy to Rs 19,249; driven by its Indian portfolio whose RevPAR was at Rs 8,940, up 24% yoy.
The company has crossed two important milestones, surpassing Rs 20 billion in revenue and Rs 10 billion in EBITDA profit for the full year, putting it among the Top 4 most profitable listed hospitality companies in India. The luxury-focused, high-end portfolio gives the business tremendous resilience to tide over short term geopolitical and macroeconomic uncertainties.
The company remains confident of sustaining its organic growth trajectory, benefiting from strong structural demand, under-penetration of the Indian hospitality market and limited supply in its chosen market segments. In addition, it intends to double its number of keys over the next five years through a combination of greenfield and brownfield projects and acquisitions.
The company holds AA (Stable) credit rating from CRISIL, and its subsidiary PCPPL holds an AA+ (Stable) rating. Following its successful IPO in December 2024, Ventive deployed proceeds to reduce debt by INR 1,400 crore, significantly improving its balance sheet position.
The company generated over INR 670 crore in operating cash flow in FY25, representing approximately 33% of annual revenue—a testament to its operational efficiency and financial prudence. This strong cash generation capability provides the company with flexibility for future investments and expansion plans.
The chairman of the company is Atul Chordia, and promoter holding in Ventive Hospitality Ltd has gone down to 88.99 per cent as of Mar 2025 from 99.60 per cent as of Dec 2024. The company is backed by promoters Panchshil Realty and Blackstone, with promoter holding at 89%.
Ventive Hospitality Limited stands as a testament to operational excellence in the luxury hospitality sector, with strong financial metrics, strategic positioning, and a clear growth trajectory that positions it well for continued success in India's expanding hospitality market.
