Investor Presentation
Date: May 12, 2025
To, BSE Limited Corporate Relationship Department 1st Floor, New Trading Ring, Rotunda bldg., P.J. Towers, Dalal Street, Mumbai- 400001 Scrip Code: 544321
To, National Stock Exchange of India Corporate Service Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai -400051 NSE Symbol: VENTIVE
Subject: Intimation under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirement) Regulations 2015 for Investor / Analyst Presentation
Dear Sir/Madam,
Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’), we are enclosing herewith a copy of the presentation for the Conference Call scheduled to be held i.e. on Tuesday, May 13, 2025 at 4.00 p.m. (IST), in respect of the Audited Standalone and Consolidated Financial Results for the quarter and year ended March 31, 2025.
We request you to take the above information on record.
Thanking You. For Ventive Hospitality Limited
Pradip Bhatambrekar Company Secretary & Compliance Officer Membership No: A25111
1
Q4 & FY 2025 Earnings Update
May 12, 2025
Ocean Pool House Deck, Anantara - Naladhu
11
Disclaimer
All subsidiaries were acquired in August 2024; therefore, the numbers presented in this presentation are based on pro-forma financial statements for FY25 and FY24 unless otherwise specified.
Certain statements in this release concerning our future prospects are forward-looking statements. Forward-looking statements by their nature involve a number of risks and uncertainties that could cause actual results to differ materially from market expectations.
These risks and uncertainties include, but are not limited to macroeconomic factors, geopolitical events affecting tourism and business travel, regulatory environment, our ability to manage growth, competition within the industry, various factors which may affect our profitability, such as, our ability to attract and retain highly skilled professionals, reduced demand for office space, our ability to successfully complete and integrate potential acquisitions, political instability, legal restrictions on raising capital, cyclicality and operating risks associated with the hospitality sector.
Ventive Hospitality Limited (“VHL”) may, from time to time, make additional written and oral forward-looking statements, including our reports to shareholders. These forward-looking statements represent only the Company’s current intentions, beliefs or expectations, and any forward-looking statement speaks only as of the date on which it was made. The Company assumes no obligation to revise or update any forward-looking statements.
22
Q4 FY25 Financial Highlights
Strong Performance Across Segments Consolidated EBITDA Margin at 52% – Leading in the Hospitality Industry
Consolidated(1)
Hospitality
Annuity
India
International(3)
Revenue
INR 7,172 Mn
↑20%
INR 2,265 Mn
↑25%
INR 3,572 Mn
↑27%
INR 1,246 Mn
↑5%
EBITDA
INR 3,709 Mn
↑23%
INR 1,039 Mn
↑76%
INR 1,663 Mn
↑33%
INR 1,111 Mn
↑5%
(2)
EBITDA Margin
52%
↑1pp
YOY GROWTH
46%
↑13pp
47%
↑2pp
89%
↑1pp
YOY GROWTH
YOY GROWTH
YOY GROWTH
PAT
INR 1,511 Mn
Hospitality Revenue Breakup (INR Mn)
Room
F&B
Others
285
13%
315
9%
748
33%
1,128
31%
1,232
54%
2,129
60%
Breakup %
Breakup %
India
International
(1) Consolidated revenue includes other income; Consolidated EBITDA is after netting off corporate office overheads (2) 33% yoy growth in Q4 EBITDA, adjusted for a one-off expense of Rs 110 Mn in Q4 FY24 and a one-off income of Rs 105 Mn in Q4 FY25. (3) Includes Raaya by Atmosphere, Maldives consolidated from 1st January 2025
3 33
Q4 FY25 Consolidated Hospitality KPIs
Powering Ahead: Double-Digit RevPAR & Higher TRevPAR Growth Reflect Strong Demand
ADR (INR)
Occupancy (%)
RevPAR (INR)
TRevPAR (INR)
26,963
25,608
+5%
71.4
67.8
+5%
19,249
17,362
+11%
31,837
27,504
+16%
Q4 FY24
Q4 FY25
Q4 FY24
Q4 FY25
Q4 FY24
Q4 FY25
Q4 FY24
Q4 FY25
TRevPAR - Total Revenue per Available Room All KPIs exclude Raaya by Atmosphere, except TRevPar
44
Q4 FY25 India Hospitality KPIs
Premium Positioning: Driving Double-Digit RevPar and TRevPar Growth
ADR (INR)
Occupancy (%)
RevPAR (INR)
TRevPAR (INR)
12,571
10,804
+16%
71.1
66.9
+6%
8,940
16,531
7,228
+24%
13,199
+25%
Q4 FY24
Q4 FY25
Q4 FY24
Q4 FY25
Q4 FY24
Q4 FY25
Q4 FY24
Q4 FY25
55
Q4 FY25 International Hospitality KPIs
Continued Momentum: Driven by Strong Brand Equity and Customer Trust
Occupancy (%)
TRevPAR (INR)
71.5
72.6
71.9
+2%
89,985
94,856
+5%
77,076(1)
FY 2024
FY 2025 Same Store
FY 2025 Incl. Raaya
Q4 FY24 Q4 FY25 Q4 FY25
Same Store
Incl. Raaya
(1) Effective January 1, 2025, the company acquired control of KIRPL, which owns Raaya by Atmosphere. Previously accounted for as a joint venture, Raaya by Atmosphere operates under an all-inclusive concept at a lower price point than our ultra-luxury resorts.
66
Q4 FY25 Annuity KPIs
Reliable Returns: High Committed Occupancy and Stable Rental Income
Rent (INR psf/m)
112
115
+2%
Committed Occupancy (%)
97
98
+1%
Q4 FY24
Q4 FY25
Q4 FY24
Q4 FY25
77
FY 2025 Financial Highlights
8
Beach Pool Residence, Anantara - Naladhu
88
FY 2025 Financial Highlights(1)
Milestones Achieved: ₹20,000 Mn+ Revenue & ₹10,000 Mn+ EBITDA: Now Among the Top 4 Listed Indian Hospitality Companies
Consolidated(2)
Hospitality
Annuity
India
International(3)
Revenue
INR 21,595 Mn
↑13%
INR 7,416 Mn
↑15%
INR 8,619 Mn
↑18%
INR 4,834 Mn
↑3%
EBITDA
INR 10,124 Mn
↑16%
INR 2,728 Mn
↑31%
INR 2,798 Mn
↑38%
INR 4,370 Mn
↑6%
EBITDA Margin
47%
↑1 pp
37%
↑5 pp
32%
↑5 pp
90%
↑2 pp
YOY GROWTH
YOY GROWTH
YOY GROWTH
YOY GROWTH
(1) The above figures are presented on a pro forma basis, as acquisition transactions were undertaken in August 2024 (2) Consolidated revenue includes other income; Consolidated EBITDA is after netting off corporate office overheads (3) Includes Raaya by Atmosphere, Maldives consolidated from 1st January 2025
Hospitality Revenue Breakup (INR Mn)
Room
F&B
Others
705
9%
890
10%
2,668
36%
2,822
33%
4,043
55%
4,907
57%
Breakup %
Breakup %
India
International
9 99
FY 2025 Consolidated Hospitality KPIs
Growth Delivered: Stable ARR Growth and Occupancy Ramp-Up Drive Double-Digit RevPAR and TRevPAR Growth
ADR (INR)
Occupancy (%)
RevPAR (INR)
TRevPAR (INR)
19,976
20,769
+4%
64.0
59.5
+8%
13,293
11,886
+12%
22,981
20,157
+14%
FY 2024
FY 2025
FY 2024
FY 2025
FY 2024
FY 2025
FY 2024
FY 2025
All KPIs exclude Raaya by Atmosphere, except TRevPar
1010
FY 2025 India Hospitality KPIs
Scaling New Highs : Backed by strong pricing power
ADR (INR)
Occupancy (%)
RevPAR (INR)
TRevPAR (INR)
11,076
10,060
+10%
61.3
65.5
+7%
7,256
6,167
+18%
13,347
11,631
+15%
FY 2024
FY 2025
FY 2024
FY 2025
FY 2024
FY 2025
FY 2024
FY 2025
1111
FY 2025 International Hospitality KPIs
Volume-Led Upside: Occupancy Growth Drives Strong TRevPAR Uplift
Occupancy (%)
TRevPAR (INR)
57.4
58.8
51.3
+12%
63,118
60,654(1)
57,422
+10%
FY 2024
FY 2025
FY 2025
Same Store
Incl. Raaya
FY 2024
FY 2025
FY 2025
Same Store
Incl. Raaya
Effective January 1, 2025, the company acquired control of KIRPL, which owns Raaya by Atmosphere. Previously accounted for as a joint venture, Raaya by Atmosphere operates under an all-inclusive concept which operates at a lower price point compared to our ultra-luxury resorts.
1212
Debt Position
Consolidated Gross Debt
Cash & Cash Equivalent
Consolidated Net Debt
Net Debt to Equity Ratio
Net Debt to EBITDA Ratio
MARCH 31, 2025
MARCH 31, 2024*
INR Mn
23,055
5,604
17,451
0.4x
1.7x
36,821
2,750
34,071
1.2x
3.6x
Total Gross Debt (INR Mn)
35,727
-35%
23,055
2,995
Pre-IPO
31st March 2025
Raaya Debt
INR Debt (INR Mn)
USD Debt ( INR Mn)
21,089
13,401
$171M
14,638
$113M
9,654
2,995
The company received AA rating (Stable) from CRISIL and PCPPL, a material subsidiary received an AA+ rating (Stable)
Pre-IPO
31st March 2025
Pre-IPO
31st March 2025
Raaya Debt
Cost of debt % p.a
8.3
8.2
9.5
7.7
*Proforma figures excluding Raaya
13 1313
Consolidated Profit & Loss Statement
INR Mn
Q4 FY25
Q4 FY24
(1)
CHANGE YOY%
FY 2025
FY 2024
CHANGE YOY%
Revenue from Operations
Other Income
Total Income
Total Expenditure
EBITDA
EBITDA margin
Depreciation & Amortization
EBIT
EBIT margin
Financing Cost
Tax expense
Profit After Tax
6,979
193
7,172
3,463
3,709
52%
1,031
2,677
37%
746
420
1,511
5,813
168
5,981
2,974
3,007
50%
NA
NA
NA
NA
NA
NA
20%
15%
20%
16%
23%
4%
-
-
-
-
-
-
20,784
811
21,595
11,473
10,124
47%
3,636
6,486
30%
4,013
1,496
18,421
653
19,074
10,376
8,698
46%
3,541
5,157
27%
4,285
836
(2)
483
(3)
(667)
13%
24%
13%
11%
16%
2%
3%
26%
11%
-6%
79%
-
(1) Depreciation, finance cost and tax expense are not determined for Q4 FY24 on proforma basis (2) Includes exceptional expense of INR 61 Mn and share of JV loss of 435 Mn (3) Includes JV loss of INR 703 Mn
1414
Company Overview
1515
JW Marriott, Pune
India’s Largest Luxury Focused Hospitality Platform
80%
LUXURY FOCUS (1)
11
HOTELS
2000+
KEYS
2
COUNTRIES
₹16,531 / $890 Q4 FY25 TREVPAR IN INDIA / MALDIVES
3.4 Msf | 98% ANNUITY AREA & Q4 COMMITTED OCCUPANCY
(1) 80% of Company’s revenue is contributed by 5 luxury properties
1616
Strategic Alliances With Top Tier Brands
Strong Sales & Distribution
DIGITAL STRATEGIES FOR DEEPER CUSTOMER RELATIONSHIPS
High Repeat Business
Operational Excellence
LOYALTY PLATFORMS POWERED BY CUTTING EDGE TECHNOLOGY
ENHANCED PRODUCTIVITY THROUGH STREAMLINED PROCESSES
•Global, regional and property-based selling
•Bonvoy: 200+ Mn members
•Digital assets: Industry leading websites and apps
•Hilton Honors: 160 Mn members
•Multilingual call centres offering 24/7 guest support
•Global Hotel Alliance: 24 MN members
•Best-in-class pricing strategies, inventory management and demand forecasting
•Shared services for higher efficiency
•Lean processes featuring global best practices
•Full integration with OTA platforms
1717
Portfolio structured to deliver holistic growth
Well-Ringfenced, Geographically Diversified
ASSETS IN INDIA AND MALDIVES
Caters to Leisure as well as Business Travelers
HOTELS
• JW Marriott, Shivajinagar, Pune • The Ritz-Carlton, Yerwada, Pune • Marriott Suites, Koregaon Park, Pune • DoubleTree by Hilton, Chinchwad, Pune • Oakwood Residences, Naylor Road, Pune • Marriott Aloft ORR, Outer Ring Road, Bangalore • Courtyard by Marriott, Hinjewadi IT Park, Pune • Marriott Aloft Whitefield, Whitefield, Bangalore
Total Keys: India Hospitality
• Anantara, Dhigu, Veli and Naladhu Maldives • Conrad, Rangali, Maldives • Raaya by Atmosphere, Raaya, Maldives
Total Keys: Maldives Hospitality Total Keys
KEYS
415 198 200 115 83 191 153 166 1,521 197 151 167 515 2,036
Integrated Commercial & Retail Assets Feed the Hotel Business and Generate Steady Annuity Income
ANNUITY
• Business Bay, Yerwada, Pune • ICC Offices, Shivajinagar, Pune • Panchshil Tech Park, Hinjewadi IT Park, Pune • ICC Pavilion (Retail space), Shivajinagar, Pune
MSF
1.80 0.93 0.22 0.44
Total Annuity Assets
3.40 msf / 98% committed occupancy
1818
Curating differentiated guest experiences
Highlights of our F&B Portfolio
• Multiple award-winning restaurants across the portfolio
• 6 of our restaurants feature in the list of Pune’s Top 10
restaurants
• Proactive refurbishments and repurposing initiatives
enhancing customer experience
• Largest ballroom in Western India among luxury hotels, at JW
Marriott Pune
• Demonstrated turnaround capabilities (developed unutilized
terrace / repurposed restaurant)
Ukiyo – Best Japanese Restaurant, Ritz Carlton
Paasha – Best Rooftop Restaurant, JW Marriott
70+ Market
Leading F&B Offerings
Ithaa, Conrad – World’s first undersea restaurant
Dhoni Bar, Anantara
Spice Kitchen – Best Buffet Restaurant
1919
Longer Term Growth Strategy
Ithaa Undersea Restaurant, Conrad - Rangali
2020
Development + Acquisition strategy has driven 2X growth over last 5 years
S Y E K F O
.
O N
83
2007
167
2,036
166
191
546
200
415
115
153
2009
2010
2013
2016
2019
2021
2023
2024
Completed Keys
Acquisitions
New Developments
2121
Key enablers of long-term growth
1
Increasing Demand
• Rising inbound as well as outbound tourism
• Increased demand for hotel rooms in Pune and Bengaluru due to new
• Improved access and greater business activity due to
airport upgrades in Pune / Male; Navi Mumbai airport and better road connectivity
GCC / industrial set ups
• Ventive’s luxury and upscale portfolio best positioned to benefit from
growth in high-end travel
• Higher business travel from GCC + high tech industrial
• Spare capacity enables better participation in the growth opportunity
growth
2
Constrained Supply
• Muted supply in India in luxury / upscale segments; no luxury
supply in Pune for next 5 years
• Supply-demand gap supports ARR growth
• High entry barriers in Maldives
3 New Developments and
Acquisitions
• Expansion into newer markets and segments
• Productive use of cash to drive growth
2222
Development pipeline
BENGALURU
VARANASI
SRI LANKA
Expansion + Development Conversion of brand
Brownfield Development Strategically located near airport
Greenfield Development Located near Yala East National Park
Render
Render
Render
Represent over 300 keys; with completions across 2027 and 2028
Exploring development of a few villa resorts with branded residences
2323
Inorganic growth Opportunities
Capacity
Pipeline
o Robust free cashflow generation
o Strong balance sheet
• Cash and cash equivalents of
INR 5,604 Mn
• Debt paydown after IPO >> Headroom
for Leverage
•
India portfolio debt can be attributed to annuity assets
o 4 ROFO assets; 2 in Navi Mumbai and 2 in
Pune (~900 keys)
o Multiple acquisition opportunities under
evaluation
2424
ESG & Notes
Paasha Rooftop Restaurant, JW Marriott, Pune
2525
Environmental & Social Initiatives
1
Energy Initiatives
• 70%+ green energy (1) (incl installed solar panels &
windmill)
• EV-charging stations at all Indian hotels. •
JW Marriott Pune certified by IGBC under LEED India for achieving Green Building Standards.
Waste Management
2 • Plastic waste reduction - supply reusable glass water bottles in
our guestrooms and F&B outlets.
• Anantara’ Biogas digester processes 1,000 kg of food waste
daily, cutting CO₂ emissions by 1,748 tonnes annually. • Conrad Maldives' Hydroponic garden produces 1,200 kg of
fresh lettuce annually, reducing reliance on external sourcing.
Solar installation, Maldives
Coral planting at Conrad
3
People Initiatives
4
Preserving Environment
• Project Pranita by Ritz-Carlton & JW Pune provide Hospitality training for underprivileged women • Ritz-Carlton & JW Pune collaboration with Sparsh
Balgram NGO to support for HIV+ Children. • Around 45% of the workforce across Maldives
resorts comprises of local Maldivians.
• Coral Regeneration Program at Maldives resorts e.g.
Anantara’s HARP(3) Project cultivates 2,000+ corals every year. • Conrad and Anantara ‘Adopt-a-coral’ program allowing guests
to plant their own coral garden and receiving bi-annual updates.
• Maldives resorts partner with local fishermen to source
• Conrad offers six-month internships with 66%
seafood
opportunities reserved for locals.
• Anantara has successfully protected critically endangered sea turtle species via collaboration with Olive Ridley Project and local authorities.
Captive Windmill, India
Plastic Free Hotels (2)
(1) In JW Marriott, Pune, Courtyard by Marriott, Pune, Marriott Suites, Pune and The Ritz-Carlton, Pune for FY25 (2) Supply of reusable glass water bottles in the guestrooms and F&B outlets with the aim of reducing the usage of single use plastic. The resorts in Maldives also adhere to strict plastic free environment guidelines (3) HARP: Holistic Approach to Reef Protection
26 2626
Board of Directors
Atul I. Chordia
Tuhin Parikh
Nipun Sahni
•
•
Founder of Panchshil Realty
• Head of Blackstone Real Estate India
Awarded the Hoteliers Award – Developer of the Year, Asia One-World’s Greatest Leaders
•
Director, Nexus Select Mall Management Private Limited
•
•
Advisor at Apollo Global Management & Founder of Rezone Investments
Previously at: Apollo Global Management, DSP Merrill Lynch Capital Ltd, GE Capital Services India and IVCA
Bharat Khanna
INDEPENDENT DIRECTOR
• Managing Director and Head of India
at BGO
•
Previously at: Och-Ziff Asia Real Estate,
Morgan Stanley Real Estate Investing
Punita Kumar Sinha
Thilan Manjith Wijesinghe
INDEPENDENT DIRECTOR
INDEPENDENT DIRECTOR
•
•
Director at Lupin Limited, Tata Asset Management Private Limited &
Embassy REIT
Previously at: Blackstone Asia Advisors,
Infosys Limited and JSW Steel Limited
•
•
Founder and Chairman of TWCorp Pvt Ltd and Director at MJF Leisure
Ex Chairman of Board of Investment
Sri Lanka
2727
Notes & Definitions
TERM
DEFINITION
4Q/Q4/Three Months ended
Quarter ending March 2025
Mn / M
M sf
Millions
Million square feet
• All figures in this presentation are as of Mar 31, 2025, unless otherwise specified
• All subsidiaries were acquired in August 2024; therefore, the numbers presented in this presentation
are based on pro-forma financial statements for FY25 and FY24 unless otherwise specified
• All figures corresponding to year denoted with “FY” are as of or for the one-year period ending (as may
be relevant) March 31st of the respective year.
• Some of the figures in this Presentation have been rounded off to the nearest decimal for the ease of
presentation
• All details included in the presentation consider 100% stake in Ritz Carlton, Pune and Raaya by
Atmosphere. Our Company owns 50%+ economic interest in Panchshil Corporate Park Pvt Ltd (PCPPL) and Kudakurathu Island Resorts Private Limited (KIRPL).
• All operational and financial data presented in this Presentation includes data relating to Raaya by
Atmosphere, Maldives, which was launched in July 2024 and consolidated from 1st January 2025. Our Company owns a 50.28% equity interest in Kudakurathu Island Resort Private Limited (which owns Raaya by Atmosphere, Maldives)
Average Room Rate or ARR or ADR
Average room rate, being room revenues (plus service charges with respect to our Maldives hospitality assets) during a given year divided by total number of room nights sold in that year
Occupancy
For hospitality assets, total room nights sold during a relevant year divided by the total available room nights during the same year
GCP
General corporate purposes as defined in our prospectus
Revenue per Available Room or RevPAR
Revenue per available room, calculated by multiplying ARR charged and Occupancy. RevPAR does not include other ancillary, non-room revenues, such as revenue from the sale of food and beverages and other hotel services including banquet income and membership fees generated by a hospitality asset
Total Revenue per Available Room or TrevPAR
Total revenue per available room, calculated by dividing the revenue from operations for the relevant hospitality asset(s) by the total number of room nights available in that year. TrevPAR includes other ancillary, non-room revenues, such as revenue from the sale of food and beverages and other hotel services including banquet income and membership fees generated by a hospitality asset
F&B
KPI or KPI's
QoQ
Food and beverage
Key performance indicators
Quarter on quarter
Committed Occupancy
For offices and retail spaces, the sum of the Occupied Area and committed area under letters of intent with tenants, divided by the Completed Area, as at a specified date.
pp
Percentage points
USD to INR
The average rate for Q4 FY25 is taken 86.6, while the overall FY25 average is 84.6
2828