1. At a Glance
Ventive Hospitality is India’s luxury hotel player with Marriott and Hilton on speed dial. Revenues tripled post-IPO, but so did debt headaches. Stock trades at P/E 145—because apparently, the market loves expensive staycations.
2. Introduction with Hook
Imagine a hotel that offers champagne at check-in but asks you to pay via EMIs. That’s Ventive. FY25 revenue skyrocketed 236%, net profit held its ground at ₹165Cr, and IPO cash of ₹1,530Cr helped them partially clear a debt mountain. Still, the glamour comes with leverage hangover.
3. Business Model (WTF Do They Even Do?)
- Owns & develops luxury and business hotels.
- Manages assets across India & Sri Lanka.
- Alliances with Marriott, Hilton, Minor Hotels, Atmosphere.
- Mixed portfolio = hospitality + annuity (retail/commercial).
In short, they make money when you sleep (literally).
4. Financials Overview
- Revenue FY25: ₹1,605Cr (vs ₹478Cr FY24)
- Net Profit: ₹165Cr
- OPM: 46%
- ROCE: 11.8%
- ROE: 4.8%
Margins remain strong, but returns on equity are snoozing.
5. Valuation
- P/E: 145
- P/B: 3.7x
Fair Value Range: ₹480–₹620. Beyond this, you’re paying Ritz-Carlton prices for a mid-level suite.
6. What’s Cooking – News, Triggers, Drama
- Marriott tie-up: 7 new hotels, 1,548 rooms.
- Amalgamation: Three group companies merging for synergies.
- Debt repayment: ₹1,400Cr knocked off using IPO money.
- Pipeline strong, but debt refinancing remains a watchpoint.
7. Balance Sheet
| Particulars | FY24 | FY25 |
|---|---|---|
| Assets | ₹952Cr | ₹9,843Cr |
| Liabilities | ₹628Cr | ₹5,036Cr |
| Borrowings | ₹470Cr | ₹2,744Cr |
| Net Worth | ₹334Cr | ₹4,806Cr |
Asset base exploded post-IPO, borrowings still high.
8. Cash Flow – Sab Number Game Hai
| Particulars | FY24 | FY25 |
|---|---|---|
| Operating CF | ₹265Cr | ₹677Cr |
| Investing CF | -₹198Cr | -₹2,035Cr |
| Financing CF | -₹57Cr | ₹1,364Cr |
Positive ops cash, massive investing burn (expansion spree).
9. Ratios – Sexy or Stressy?
| Ratio | Value |
|---|---|
| ROE | 4.8% |
| ROCE | 11.8% |
| PAT Margin | 10% |
| D/E | 0.6x |
| P/E | 145 |
Sexy growth, stressy valuation.
10. P&L Breakdown – Show Me the Money
| Year | Revenue | EBITDA | PAT |
|---|---|---|---|
| FY24 | ₹478Cr | ₹284Cr | ₹166Cr |
| FY25 | ₹1,605Cr | ₹745Cr | ₹165Cr |
Revenue tripled, profits stayed flat (thanks to interest and tax).
11. Peer Comparison
| Company | Revenue | PAT | P/E |
|---|---|---|---|
| Indian Hotels | ₹8,825Cr | ₹1,716Cr | 62 |
| Chalet Hotels | ₹1,717Cr | ₹141Cr | 142 |
| Ventive Hosp. | ₹1,605Cr | ₹165Cr | 145 |
Ventive trades like a premium brand—pricing in perfection.
12. Miscellaneous – Shareholding, Promoters
- Promoters: 89%
- FIIs: 2.7%
- DIIs: 5.2%
- Public: 3%
Tightly held, with low float.
13. EduInvesting Verdict™
Ventive is like a five-star suite—luxury vibes but comes at a steep cost. Expansion is aggressive, alliances are strong, but valuation leaves no room service for errors.
Written by EduInvesting Team | 27 July 2025
Tags: Ventive Hospitality, Hotels, IPO, Luxury Hospitality, EduInvesting Premium
