Prestige Hospitality Ventures Limited faces declining earnings despite strong revenue growth as the hospitality company prepares for market debut. The Prestige Group subsidiary recorded profits of Rs 67.7 crore for December 2024, marking an 18 percent decrease from Rs 82.4 crore the previous year. Revenue climbed sharply by 49 percent to Rs 995.6 crore compared with Rs 667.5 crore in 2023. Operating expenses jumped 58 percent to Rs 909.8 crore during the same period. SEBI has cleared the company's public offering plans worth Rs 2,700 crore total.
The hospitality firm will raise Rs 1,700 crore through new shares while promoter Prestige Estates Projects sells Rs 1,000 crore worth of existing stock. Management will allocate Rs 1,121 crore toward paying down debt at the parent company and subsidiaries Sai Chakra Hotels and Northland Holding. The portfolio spans seven active hotels with 1,445 rooms across major Indian cities. Global partnerships with Marriott, Hilton, and other luxury brands strengthen the company's market position.
The hospitality firm will raise Rs 1,700 crore through new shares while promoter Prestige Estates Projects sells Rs 1,000 crore worth of existing stock. Management will allocate Rs 1,121 crore toward paying down debt at the parent company and subsidiaries Sai Chakra Hotels and Northland Holding. The portfolio spans seven active hotels with 1,445 rooms across major Indian cities. Global partnerships with Marriott, Hilton, and other luxury brands strengthen the company's market position.
