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Company Update - Taj GVK Hotels - ICICI Direct

Posted On: 2021-10-24 15:10:56 (Time Zone: IST)


  • During Q2FY22, the company reported first ever quarterly net profit of Rs. 1.2 crore after Q4FY20 (i.e. beginning of Covid era) with a strong rebound in revenues coupled with controlled fixed costs. EBITDA margins were at 24.3% vs. 20% during the pre-Covid quarter of Q2FY20 while revenues of Rs. 55.9 crore reached 76% of pre-Covid levels during Q2FY22
  • Corporate segment, which has remained a laggard so far due to work from home culture till Q1FY22 is also seeing good traction from Q2 onwards. Further, Hyderabad being the administrative, financial and economic capital of Telangana and Andhra, is the largest contributor to the state's GDP. A number of proposed infrastructure initiatives are expected to increase Hyderabad's business and tourist prospects, going ahead
  • Daily domestic air traffic has now reached 76% of pre-Covid levels in October 2021. With the government allowing airlines to operate fully and also opening the doors to foreign tourists to visit India from November 2021 onwards, we expect strong traction in revenues of the premium segment hotel rooms from H2FY22 onwards
  • Further, the ongoing crisis may lead to 15-18% room inventory reduction, which augurs well for the company in the long run. We expect healthy 79.8% revenue CAGR over FY21-23E. We expect the company's business to recover to 94% of pre-Covid levels in FY23E with EBITDA surpassing pre-Covid levels in FY23E. Margins are seen at over 26% in FY23E, which has potential to further expand to 30%+

For details, click on the link below: Link to the report

Shares of Taj GVK Hotels & Resorts Limited was last trading in BSE at Rs. 148.10 as compared to the previous close of Rs. 153.40. The total number of shares traded during the day was 55337 in over 1419 trades.

The stock hit an intraday high of Rs. 155.25 and intraday low of 147.05. The net turnover during the day was Rs. 8348716.00.


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