Saj Hotels Approves H1 FY27 Results; Deploys Rs 9.73 Cr of Rs 17 Cr Capex Proceeds
Saj Hotels reported its unaudited financial results for the half year ended September 30, 2026, alongside an update on IPO fund deployment. Of the total Rs 27.63 Cr raised, the company has deployed Rs 20.36 Cr, leaving Rs 7.27 Cr unutilized. Specifically, for its Rs 17.00 Cr resort capacity expansion capex, Rs 9.73 Cr has been spent as of September 30, 2026. The auditor noted that an associate company, My Own Rooms Dot In Pvt Ltd, posted a loss of Rs 78.87 lakhs, which was not absorbed into P&L as the investment book value is already nil.
உச்சம் நம்பிக்கை
என்ன மாறியதுSaj Hotels released its H1 FY27 financial results and certified that Rs 20.36 Cr of IPO proceeds have been utilized as of September 30, 2026.
ஏன் இது முக்கியம்The Rs 17 Cr capex represents a major expansion relative to TTM revenue of Rs 17 Cr; steady utilization indicates project progress towards incremental room inventory.
Resort expansion capex earmarked: Rs 1,700.00 LakhsResort capex spent till Sep 30, 2026: Rs 973.32 LakhsTotal IPO funds utilized: Rs 2,035.82 LakhsTotal expansion vs TTM revenue: ~100%
📅 குறுகிய காலம்Market focus will be on the operational progress of the resort upgrades and the resolution of the pending 10,000 unallotted IPO shares.
📈 நீண்ட காலம்Execution of the Rs 17 Cr resort upgrade and the Lemon Tree Keys Prima partnership remain the primary drivers for medium-to-long term scale expansion.
⚠ அபாய எச்சரிக்கைகள்
- Unallotted 10,000 IPO shares pending resolution due to an RTA technical glitch
- Associate company (My Own Rooms Dot In Pvt Ltd) continues to incur losses (Rs 78.87 lakhs in H1)
👀 கவனிக்க வேண்டியவை
Track the commissioning timeline for the remaining Rs 7.27 Cr resort capex and its subsequent contribution to operating margins and revenue growth.
