Juniper Hotels Ltd(JUNIPER)

NSE: JUNIPERBSE: 544129

₹ 201.8+3.49%refreshed 26 Oct, 01:58 pm ISTMarket cap: ₹ 4,490 crWebsite: www.juniperhotels.comUpdated: 24 Oct 2026

About

Juniper Hotels Ltd owns and operates luxury and upper-upscale hotels in India. Its properties include Grand Hyatt Mumbai, Hyatt Regency Ahmedabad and Andaz New Delhi, and seven of its hotels are fully operational. Its portfolio stood at 1,895 keys as of FY26, and it reported FY26 revenue of Rs 1047.68 Cr. The company says it was the first to introduce the "Big Box" hotel model in India.^[1][2][3]

Hotels and room inventory

As of FY26, seven Juniper hotels are fully operational, including Grand Hyatt Mumbai, Hyatt Regency Ahmedabad and Andaz New Delhi.^[1]
The portfolio stood at 1,895 keys as of FY26, across the luxury and upper-upscale segments.^[2]
In Q3 FY26, luxury-segment ARR was INR 15,686 (+6% YoY) and upper-upscale ARR was INR 9,280 (+13% YoY).^[4]
Contract business at Grand Hyatt Mumbai was reduced to less than 6% of that hotel's revenue as capacity shifted to transient and group guests (Q3 FY26).^[4]
Wholly owned subsidiary Jenipro Hotels Private Limited holds the rights to the Kaziranga land parcel.^[1]

Key operating metrics

RevPAR rose 13% YoY in Q1 FY27. ARR rose 5% to ₹11,062 and occupancy rose 5pp to 76%.^[5]
Grand Hyatt Mumbai occupancy was 78% in Q1 FY27, up 11 pp YoY.^[5]
Portfolio room revenue grew ~12% YoY in Q1 FY27: GHM +17%, HRA +13%, Andaz +9%.^[5]
Transient mix rose to 68% in Q1 FY27 from 65% a year earlier.^[5]
For FY26, portfolio ARR rose 9% YoY to INR 11,924 and occupancy was 75% (+1 pp YoY).^[2]
Revenue Generation Index (RGI) improved to 95.4 in Q4 FY26 from 92.3 in Q4 FY25.^[2]

F&B, events and annuity income

F&B and MICE revenue grew 13% YoY to ₹78 Cr in Q1 FY27, led by MICE.^[5]
Grand Showroom revenue doubled YoY to ₹8 Cr in Q1 FY27. The 49,655 sq ft venue contributed INR 28 Cr in FY26.^[5][2]
F&B was 28% of total revenue in Q4 FY26 vs 32% in Q3 FY26.^[2]
Annuity assets contributed ~₹38.4 Cr in Q1 FY27. Lease revenue rose 15% YoY and serviced apartment revenue rose 13%.^[5]

Expansion pipeline

Westin Bengaluru Phase I (238 keys) is due to open in October 2026 and is in finishing works and pre-opening trials. A hotel management agreement with Marriott was signed on 12 Aug 2026.^[5]
Bengaluru Phase II (275 keys) is targeted to be operational by FY29.^[5]
The Kaziranga resort (~106 keys) is targeted to be operational by FY30, with capex of ₹200 Cr.^[5]
Grand Hyatt Guwahati (277 keys) is targeted to be operational by FY31, with capex of ₹400 Cr.^[5]
Grand Hyatt New Delhi (~550 keys) will be built on long-leased DDA land with no upfront land cost. The licence deed has been executed; the project's capex is ₹850 Cr and it is targeted by FY31.^[5]
A GHM commercial tower (~80,000 sq ft) is targeted to be operational by FY29, with capex of ₹80 Cr.^[5]
The portfolio is targeted to grow to ~3,900-3,941 keys by FY31.^[5]

Capex and funding

Total capex of ~₹1,930 Cr is planned up to FY31, including inorganic acquisitions.^[5]
Management has set a ceiling of 2.6x gross debt/EBITDA through FY31 (stated Q1 FY27).^[5]
The FY26 annual report says IPO proceeds were used to cut debt to EBITDA from 6x to 1x.^[1]
The company holds more than INR 1,000 Cr of brought-forward losses, which are expected to keep cash taxes at zero for at least three years from FY26.^[4]

Recent developments

On 5 October 2026, Juniper signed a binding MoU to acquire the Novotel Imagicaa hotel in Khopoli, Maharashtra for INR 2,48,00,00,000, subject to adjustments.^[6]
As of Q1 FY27, the company was in advanced discussions to acquire 3 brownfield assets with ~600 potential keys.^[5]
The company is pursuing the ROFO acquisition of Hyatt Regency Mumbai and Chennai (~737 keys) as a non-cash share swap. No firm timeline had been given as of Q4 FY26.^[2]
The FY26 AGM notice seeks approval for loans and guarantees to related companies of up to ₹500 crore a year, and proposes reappointing the CMD.^[1]

Sustainability

Renewable energy made up 33% of power consumption in Q4 FY26, up from 24% a year earlier.^[2]

Market Cap

₹4,490 Cr

High / Low

₹285 / 189

Stock P/E

26.3

Price / Book

1.5

Book Value

₹129

EPS

₹6.4

No. of Shares

22.25 Cr

ROCE

9.0%

ROE

5.1%

OPM

31.0%

Debt / Equity

0.26

Sales

₹1,048 Cr

Net Profit

₹142 Cr

Promoter holding

77.5%

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