1. Opening Hook

While India argued about cricket and crude oil, SAMHI quietly plotted to redraw Navi Mumbai’s skyline. Who knew balance sheets could look sexy when spiced with Marriott and a 57-crore impairment reversal? As Lord Krishna once advised in the Bhagavad Gita: “Perform your duty with focus, not attachment to outcomes.” SAMHI seems to have taken that literally — building, refinancing, and smiling through monsoons.

Read on — the real masala begins when the CFO admits free cash flow is the new religion. 🍹

2. At a Glance

• Revenue up 11%: CFO swears it’s demand, not divine intervention.
• EBITDA ₹110 cr (+14% YoY): Hoteling meets compounding, finally.
• EBITDA Margin 37.3%: Piping hot and 110bps tastier.
• PAT ₹99 cr: Includes a ₹57 cr Navi Mumbai land write-back — classic “now you see it, now you don’t.”
• Net Debt/EBITDA 2.9x: Debt got a detox plan — yoga for the balance sheet.
• Credit rating A+ (Stable): From staycation to investment grade vacation.

3. Management’s Key Commentary

“RevPAR grew 11.2% YoY to ₹5,026.”
(Translation: Guests are finally paying up — even CFOs need hope.)

“Navi Mumbai dual-branded Westin & Fairfield project will redefine the skyline.”
(Translation: Translation: ‘We got cheap land, and now we’re feeling immortal.’)

“We’ve delevered; interest cost now 8.5%.”
(Translation: Banks finally stopped ghosting us. 😏)

“Phase 1 cost ₹650 cr, 400 rooms; cost per key ₹1.7 cr — below replacement value.”
(Translation: Mumbai’s costlier than karma, but we found a loophole.)

“Hyderabad lease hotel adds 260 rooms — minimal capex, max bragging rights.”
(Translation: Asset-light, ego-heavy.)

“W Hyderabad will open Dec 2026 — a marquee addition.”
(Translation: The ‘W’ stands for Waiting.)

“Free cash of ₹1,700 cr will fund new projects.”
(Translation: We’re not begging investors anymore.)

4. Numbers Decoded

Numbers finally check into profitability suite.

5. Analyst Questions (and Unofficial Translations)

Q: “Leverage still high — more debt coming?”
A: