Analysts/Institutional Investor Meet/Con. Call Updates

November 06, 2026 To, To, Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra –Kurla Complex, Mumbai - 400001. Bandra (E), Mumbai – 400051 Code: 526668 Symbol: KAMATHOTEL ISIN: INE967C01018 Sub.: Submission of Transcript of Q2/H1-FY27 Earnings Conference Call held on November 04, 2026 Dear Sir / Madam, In accordance with the provisions of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“SEBI Listing Regulations”), please find enclosed herewith a transcript of Q2/H1-FY27 Earnings Conference call of Kamat Hotels (India) Limited with various Investors and Analysts held on Wednesday, November 04, 2026, at 04:00 P.M (IST). We request you to take the above on record and treat the same as compliance under the applicable provisions of SEBI Listing Regulations. Kindly take the above on your record. Thanking you, Yours faithfully, For Kamat Hotels (India) Limited Nikhil Singh Company Secretary & Compliance Officer Encl a/a. Kamat Hotels India Limited Q2 and H1 FY’27 Earnings Conference Call November 04, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Kamat Hotels India Limited Q2 H1 FY’2027 Earnings Conference Call hosted by Valorem Advisors. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing “*” and then “0” on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Ms. Purvangi Jain from Valorem Advisors. Thank you and over to you. Purvangi Jain: Thank you. Good evening, everyone and a very warm welcome to you all. My name is Purvangi Jain from Valorem Advisors. We represent the investor relations of Kamat Hotels India Limited. On behalf of the company and Valorem Advisors, I would like to thank you all for participating in the company's earnings conference call for the 2nd Quarter and the first half of the financial year 2027. Before we begin, let me mention a short cautionary statement. Some of the statements made in today's Earnings Call may be forward-looking in nature. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from those anticipated. Such statements are based on management's belief as well as assumptions made by and information currently available to the management. Audiences are cautioned not to place any undue reliance on these forward-looking statements in making any investment decisions. The purpose of today's earnings call is purely to educate and bring awareness about the company's fundamental business and financial quarter under review. I would now like to introduce you to the management team joining us on today's call. We have with us Mr. Vishal Vithal Kamat – Executive Director, Mr. Milind Wadekar – Chief Financial Officer, and Mr. Nikhil Singh – Company Secretary and Compliance Officer. Without any delay, I request Mr. Vishal Kamat to start with his opening remarks. Thank you and over to you, sir. Page 1 of 13 Vishal Vithal Kamat: Namaskar all. Thank you, Purvangi, for the introduction. Thank you, Valorem Advisors. And thank you all for participating in this call. First and foremost, I would like to, as you already mentioned, my colleagues, Mr. Milind Wadekar and Mr. Nikhil are with us. The results, we were very happy to share the kind of progress we have had. I believe that many of you have gone through them. And I thank you for taking this time to go through, having recorded a great quarter EBITDA with margins of the Q2 FY’27 up 1300 basis points, year-on-year to 26% and EBITDA more than doubling to 224 million. And the occupancy also going up by 800 basis points. With all this coming up, the RevPAR also has improved by 20%. We also have a set of FY’30 vision of the hotels of the Kamat with the number of keys being increased by more than 50% to 3,000 keys. And the average room rate also, we are looking at increasing step by step more than 30% to 8,000 on a whole. So this would happen because of the various new properties coming in. We have in the month of December, January, Gwalior, which will open up. Apart from that, we also have Dwarka and Nasik. Though they are under management, Gwalior is under lease. But Dwarka under management, we expect that these properties also will add a lot of boost adding more than 250, 266 keys to our portfolio apart from other additions which are there. Further even our Rishikesh and our Dehradun will eventually also come in. So we have a nice pipeline and side by side active discussion pipeline also going forward. Mr. Milind Wadekar will take you through the details in his remarks which he has prepared along with any questions and answers. We will be happy to answer. Let me just give you a brief overview of the hospitality industry: The key trends that have shaped the quarter. By and large, the Indian hospitality as a whole has delivered a resilient result. This has various reasons. It has shown a good performance. Despite having challenges of war, fuel shortage, monsoon seasonality, aviation erraticness and other various West-Asian geo-political tensions. Some going in our favor, some adding to the top line, some going against us, hitting us at the bottom line. Yet, overall the industry has and the Kamat group has managed these challenges very well due to certain foresighted decisions also which we will articulate ahead. Typically, H1 Quarter 2. The Quarter 2 is a very poor general quarter because of monsoon and because of various other aspects happening in it. You know, you have pitrupaksh and others and all these aspects make the overall spending lower in sentiment and in practicality. But this Quarter 2 has been excellent in terms of the overall performance by various of our hotels. And hence, Quarter 1 has given a holistic improvement. Page 2 of 13 Typically, Quarter 2 accounts for 60%, 65% of the annual business. So, based on that, we feel the year ending also will be fairly robust. Hospitality, various leaders have also shared their figures, how their overall revenue has grown anywhere between 12% to 17%. And within that also in the hotel segment particularly. So, we are also optimistic about H2 and FY’27 end being quite robust and encouraging. Even our October numbers are fairly encouraging in terms of now having a good October. Otherwise, normally October end is when Diwali is there, first week November. This year November may not be as great as what it was last year because having Diwali bang in the middle of November. But the second half of November already looks very-very strong. So, that is a very good and then December is what it is, December is December. So, demand remains intact in various segments. Large format MICE which we are specializing in and various other events that is also happening. Wedding season, this year's wedding season is not as strong as last year and yet it has been a very good support for the weekdays and weekends. There has been a sustained demand in leisure. Spiritual tourism is still going strong and by and large the industry is still seeing the benefits of premiumization trend. Which is still delivering a very good result for hospitality and other industries also. So, the gradual recovery of foreign tourists we expect though that is not going to have a very significant considering that today. In all honesty, Indians are richer than many of the foreign country tourists. So, Indians are more sought after because they are spending better as compared to many of the foreign tourists who are coming on a shoestring budget or on a limited. But that said we are seeing very good growth in Goa where we do have in our Orchid Passar [Showing first 8,000 characters — download PDF for full document]