Submission of Transcript of Q1-FY2027 Earnings Conference Call held on August 12, 2026.

August 14, 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 Q1-FY27 Earnings Conference Call held on August 12, 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 Q1-FY27 Earnings Conference call of Kamat Hotels (India) Limited with various Investors and Analysts held on Wednesday, August 12, 2026, at 12:00 Noon (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 Q1 FY’27 Earnings Conference Call August 12, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Kamat Hotels (India) Ltd Q1 FY2027 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 this conference, please signal an operator by pressing “*” 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 ma'am. Purvangi Jain: Thank you. Good afternoon, 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) Ltd. 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 1st Quarter 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 risk 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 Vithal Kamat to start with his opening remarks. Thank you and over to you, sir. Page 1 of 15 Vishal Vithal Kamat: Thank you, Purvangi. Namaskar everyone and Namaskar and welcome to the earnings call to discuss the results of the 1st Quarter of the Financial Year 2027. So, with that I would like to say, firstly before we begin, I would like to welcome our new Chief Finance Officer – Mr. Milind Wadekar, who has joined us this quarter. He has extensive experience of more than 30 years in finance and in that particularly 20 plus years in the hospitality field, right from the Leela Group to the Chalet Hotels where he was the CFO and last he was EVP Finance and Investment Relations at Ventive Hospitality. We are very happy that we have a person of his caliber and ethos joining our group. So, we are very excited on behalf of Dr. Kamat, myself and our entire board and team. We have already welcomed him. So, I am sure that he will add value to us all with his rich experience. I am also pleased to share that Kamat Hotels has delivered a very exceptional start to the financial year, supported by robust growth in the top line and also a robust growth in our EBITDA with meaningful margins and meaningful expansion. In Q1 FY27, consolidated revenue grew over 10% to Rs. 91 crores. This is also which Mr. Milind will share in more detail that why it is even better than actually what it looks like when his turn comes. Driven by again efficiency and I must appreciate our team for their pricing discipline and their operational efficiency, which translated into a phenomenal improvement in our EBITDA rising to 36% high, Rs. 25 crores from the previous quarter in the same year. So, our EBITDA margins have also expanded towards 27% compared to earlier year's same Q1, 22%. So, that is good news for us and it's a good sign of the times to go ahead. This has of course strengthened our balance sheet and helped us while we are doing this reduce our loans further though that is not an issue. Our target which was and is to be absolutely zero and we are on the target to make net zero and eventually zero on our balance sheet towards that. So, looking ahead to the rest of FY27, there is a clear momentum. There is a clear pathway in front and in this Mr. Milind Wadekar will add to our current vision, current growth plan. So, we look at even faster and a better and a more robust growth in the coming time ahead. So, while we have a priority to leverage our brands across India and improve our performances of our existing hotels. So, we do intend to do that keeping in line with our ethos of being friendly, eco-friendly, adding value to society also while we are growing for ourselves. Turning to the industry overall, the industry has been resilient. Generally, our colleagues in the industry have shown very good results. We are happy that we have done better than many of our colleagues. It's always healthy competition but the sector is booming. Page 2 of 15 The sector is growing well. In fact, a lot of growth is also coming in from alternative hospitality such as health economy like now recently one viral clip of a gentleman who has come to India for knee surgery replacement. Now then they come and they stay for long tenures. They stay initially in a hospital. After that they move to hotels where they are supported. We have people like that staying in Orchid who would get treatment in Leelavati or Hinduja or in other such hospitals. So, that's also a very good plus point that we have. There's also a rising travel aspiration. This global turmoil has been both a bane for our industry and a boon in terms of the LPG crisis and all which many people asked last time and overall have been discussing. But that small problem turned out to be a big gain for the nation because tourism boomed. People did not travel outside India. People went again to remote and popular local destinations in tourism. Even city tourism also grew. People traveling within India because on one hand because of global fuel shortages, airline cancellations were rampant not only in the Gulf where it was due to war but it is also in Southeast Asia where certain countries could not meet their requirement of fuel for aviation and hence many had curtailed which many of you must have read in the newspaper. On top of that, Europe, there's a heat wave, there's a migration crisis and there's hyperinflation due to the Ukraine war continuing over so many years. So, the cost of living and the cost of enjoying have shot up so much that most Indians prefer to go to other locations and those other locations happen to be within their own country. America on the other hand with Donald Trump behaving exactly what the world needs because of which you know American overall popularity is decreasing and hence people h [Showing first 8,000 characters — download PDF for full document]