SAYAJI HOTELS LTD. Q1 FY27 Results

Sayaji Hotels' consolidated Q1 FY27 (quarter ended 30 June 2026) shows a swing to profit −PAT of Rs0.30 Cr against a loss of Rs5.13 Cr a year ago −but the turnaround is almost entirely non-operating. Consolidated profit before the associate's contribution was still a loss of Rs0.36 Cr; it was a Rs0.92 Cr profit share from associate United Foodbrands Limited (formerly Barbeque Nation Hospitality) that flipped the bottom line, a Rs5.79 Cr swing from the Rs4.87 Cr loss-share booked in Q1 FY26. Consolidated basic EPS was Rs0.17 versus a loss of Rs2.93/share a year earlier.

Standalone (the core hotel business, ex-associate) tells the sourer story: PBT before tax was a loss of Rs0.40 Cr, WIDER than the Rs0.33 Cr loss a year earlier, and standalone net loss deepened to Rs0.65 Cr from Rs0.29 Cr. Revenue from operations of Rs20.00 Cr was down 43.7% YoY and 46.9% QoQ, but per the company's own note this isn't organic: Sayaji Raipur's lease terminated and Sayaji Baroda's lease expired during the year, with both properties moved to management-fee contracts with the same owner; lease-model revenue that was Rs19.12 Cr in Q1 FY26 is now nil, replaced by just Rs1.08 Cr of management-fee income −the company explicitly flags the periods as 'not strictly comparable.' Other income of Rs3.87 Cr also includes a one-off Rs3.00 Cr gain on sale of assets to related party Vicon Imperial (I) Pvt Ltd.

The stock went into the print at ₹309, up 2.3% over the past month of trading.

Sequentially, PAT fell sharply from Rs6.06 Cr in Q4 FY26, but that quarter's profit was inflated by a Rs11.12 Cr one-off exceptional gain tied to the Raipur lease termination that has no equivalent this quarter, so the QoQ drop is not a genuine slowdown signal. There is no prior management guidance or concall commentary on record to grade this print against, and no formal press release accompanied the filing −management gives no forward outlook in the results themselves, so vsGuidance is unknown rather than a miss. No verifiable consensus/street estimates could be sourced for this small-cap filing, so vsStreet is unknown. The same board meeting also approved the FY26 annual report, the AGM notice, and dissolved the Rights Issue and Borrowing & Investment Committees −governance items unrelated to the quarter's operating numbers.