Grand Continent Hotels: share price, financial results, shareholding and management
Grand Continent Hotels runs mid-priced hotels for business travellers, families and pilgrims, mostly in buildings it leases. Most of its hotels are in India, with a few in the USA and Dubai, and its shares trade on NSE Emerge.
What this page is built from. Read for this page: 3 earnings call transcripts, 3 investor presentations, 3 press releases, 2 annual reports, 1 offer document, 1 result filing, 1 credit rating note. Also 122 exchange announcements, 3 shareholding patterns and 6 years of reported results. Every figure carries its source; where the documents are silent, the page says so.
- Market cap
- ₹249 cr at ₹99.9
- Share price
- ₹99.9 close on 4 Sept 2026
- 52-week high / low
- ₹232 / ₹77 to the same date
- P/E
- 20.0× on FY26 profit
- Book value
- ₹48 P/B 2.1×
- ROCE
- 13% FY26, average capital
- ROE
- 11% FY26, average equity
- Debt to equity
- 0.31 borrowings ₹37 cr
- Promoter holding
- 54.85% 31 March 2026
- Dividend
- None in the past year
- Face value
- ₹10 lot of 600
- IPO price
- ₹113 listed 27 March 2025
Our arithmetic on reported figures; prices run 30 days behind the market, as SEBI's rules for education sites require.
Grand Continent Hotels key points: what to know in 30 seconds
More than 1,850 rooms in India, the USA and the UAE as of 31 May 2026.
Annual report FY26, p.5 and p.10Rooms at the end of FY25 and FY26: the room count nearly doubled in a year.
Annual report FY26, p.7Average room rate ₹3,968 a night, against occupancy above 61% and ₹3,830 in FY25.
Annual report FY26, p.18Input credit the company could no longer claim after GST on hotel rooms fell to 5%, charged as an expense in the second half of FY26 (consolidated).
Annual report FY26, p.155Up from about 27%, because rent carries 18% GST that can no longer be set off, the company says.
Earnings call transcript, May 2026, p.15Hotel level EBITDA margin of the mature business hotels in FY26, the company says; leisure and new hotels earn less while they settle.
Earnings call transcript, May 2026, p.4Leased hotels under Holiday Inn, Comfort Suites and Ramada names, its first outside India; ₹2.9 cr revenue in a short first stretch.
Annual report FY26, p.13Share of the hotel mix from business travel; leisure and pilgrimage hotels make up about 15% each.
Annual report FY26, p.14What a new leased hotel now costs to fit out per room, the company says, up from a budget of ₹0.06 to 0.07 crore.
Earnings call transcript, May 2026, p.30Net IPO proceeds, all used by March 2026 on new hotels, loan repayment and general purposes.
Annual report FY26, p.32Each point is read from the company's documents or worked out from its reported figures, with the source under it.
What does Grand Continent Hotels do? Business, products and customers
Grand Continent Hotels runs mid-priced and upper mid-priced hotels for business travellers, families and pilgrims. Most hotels are in buildings it leases for 10 to 15 years and then furnishes and runs; the offer document lists two hotels it owns in Bengaluru. Some hotels carry its own Grand Continent name and others run under franchise names from Royal Orchid (Regenta) and Sarovar (Golden Tulip, Tulip Inn).
Bengaluru is the home base, and the company has spread to Chennai, Hyderabad, Goa, Mysuru, Hosur, Tirupati, Dwarka, Udaipur, Gurugram and Rameshwaram. As of May 2026 it ran 31 hotels with more than 1,850 rooms, against 20 hotels and 956 rooms a year earlier. Its first luxury hotel opened in Udaipur in October 2025, and business travel makes up about 70% of the mix.
In FY26 it took on three running hotels in the USA under Holiday Inn, Comfort Suites and Ramada names, and a franchise hotel in Dubai. On the May 2026 call the managing director said the Dubai hotel had been hit by the situation in the Gulf and the company might pull out; no money had been invested there.
A GST change from 22 September 2025 cut the tax on hotel rooms from 12% to 5% and ended the input credit the company had set against the 18% GST on its rents. It wrote off ₹5.9 crore of credit in FY26 and says it is raising room rates and looking at revenue share and management contracts to cut this cost.
From the offer document, the FY26 annual report, the May 2026 earnings call and the April and May 2026 press releases.
Who runs Grand Continent Hotels? Management and board background
Holds a diploma in Hotel Management and Catering Technology from the Institute of Hotel Management, Madras. More than 21 years in the hotel industry, including as Chief Executive Officer of Sabari Inn Limited. With the company since it was set up in 2011 and runs its day to day business.
Offer document, p.208; Annual report FY26, p.20Holds a Bachelor of Science in Mathematics from the University of Madras and a diploma in Advanced Secretarial Course from Datamatics Institute of Management, Madras. More than 12 years in the hotel industry and with the company since it was set up. The offer document lists Vidya Ramesh as the spouse of Ramesh Siva.
Offer document, p.208 and p.228; Annual report FY26, p.20Holds a degree in Visual Communication (University of Madras; Loyola College, Chennai). Shaped the company's brand identity and made its corporate film; not involved in day to day operations. The offer document lists Deepthi Shiva as the daughter of both promoters.
Offer document, p.208 and p.228; Annual report FY26, p.20More than 27 years in hotel management and operations, with a degree in Hotel Management and courses at Cornell University, IIM, XLRI and Fore School of Management. Earlier held senior roles at Hyatt Regency, Lemon Tree, Citrus Hotels and Orange Tiger Hospitality.
Annual report FY26, p.22Joined as Chief Financial Officer on 20 March 2026. More than 25 years in finance in hotels and manufacturing, including as CFO of Stonewood Hotels and Resorts Group and Goldfinch Hotels, Financial Controller at Cidade de Goa Resort and Director of Finance at Bengaluru Marriott Whitefield and Crowne Plaza Electronics City. Holds an MBA (Finance) from IGNOU, a B.Com from Bombay University and has cleared CA Final Group I.
Press release, 20 March 2026, p.2Bachelor's degree in Economics (Honours) and Master's in Finance and Control from the University of Delhi. More than 33 years in corporate advisory, merchant banking and portfolio management, including as Whole-time Director of Wealth Management Advisory Services Limited and roles at SMIFS Capital Markets and P.N. Vijay Financial Services. On the board since 31 May 2024.
Offer document, p.208; Annual report FY26, p.21Member of the Institute of Cost and Works Accountants of India, with a post graduate diploma in business management from the Institute of Management Technology, Ghaziabad and a B.Com (Honours) from the University of Delhi. More than 33 years in financial planning, reporting and controllership, including as Director, Finance at DXC Technology. On the board since 5 November 2024.
Offer document, p.208; Annual report FY26, p.21Grand Continent Hotels order book, guidance and what the company says is coming
On the May 2026 call the company said it had signed about 600 more rooms for FY27 and expected to end March 2027 with about 2,450 keys, with an aim of 3,000 keys by FY28. It said hotels named in the pipeline include Somnath, Varanasi, Ayodhya, Jaipur, Vellore, Chennai, Bengaluru and a second hotel in Gurugram. It also said a new hotel now costs ₹0.07 to 0.08 crore a room to open, that it will fund the next hotels from a sanctioned bank limit and internal accruals rather than new shares, and that it will hold the USA at three hotels for now.
| What management said | When | What happened |
|---|---|---|
| About 2,000+ keys in FY2026 | Offer document, p.166 | 1,769 keys at 31 March 2026 (Annual report FY26, p.30) |
| Close to 700 to 800 keys opened in FY26 | June 2025 call, p.15 | 813 keys added, 956 to 1,769 (Annual report FY26, p.7; our arithmetic) |
| Jaipur and Ayodhya hotels live by February 2026 | June 2025 call, p.14 | Both still in the pipeline on the May 2026 call (p.8) |
The company's own statements, attributed; not newboard's estimates.
Grand Continent Hotels strengths and things to watch, from the numbers
- Sales have grown very fast.
- Its borrowings rose a lot last year.
- It paid no dividend in the past year.
- The business used more cash than it brought in last year.
- Its operating margin fell last year.
Worked out from the reported figures by fixed rules, the same for every company. Facts, not a view on the shares.
Grand Continent Hotels peers and competitors: listed SME companies in leisure services
Other SME companies in the same industry are listed on NSE Emerge and BSE SME. By sales, Grand Continent Hotels is the second biggest of the 28 listed SMEs in its industry; the ones closest to it in size are below.
| Company | Market cap ₹ cr | P/E | Revenue ₹ cr | Profit ₹ cr | EBITDA margin | D/E |
|---|---|---|---|---|---|---|
| Grand Continent Hotels | 249 | 20.0 | 141 | 12 | 14% | 0.31 |
| Vegorama Punjabi Angithi | 371 | 30.9 | 141 | 12 | 12% | 0.15 |
| LGT Global Hospitality | 36 | 7.1 | 135 | 5 | 5% | 0.26 |
| Complete Sports and Management India | 300 | 16.7 | 117 | 18 | 21% | 0.21 |
| Suba Hotels | 238 | 13.2 | 114 | 18 | 22% | 0.37 |
| Lloyds Luxuries | 140 | - | 61 | -34 | 2% | 0.00 |
| DUDIGITAL GLOBAL | 184 | 31.9 | 55 | 6 | 14% | 0.06 |
| UHM Vacation | 22 | 3.5 | 48 | 6 | 16% | 0.00 |
| Silverstorm Parks And Resorts | 268 | 14.1 | 44 | 19 | 68% | 0.49 |
| Naturewings Holidays | 21 | 13.9 | 30 | 2 | 6% | 0.00 |
| TSC India | 63 | 14.3 | 29 | 4 | 23% | 0.42 |
Each company's latest full year and its price 30 days back; a list of companies in the same line of business, not a comparison of their shares.
Grand Continent Hotels half-yearly results
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew faster than sales.
| H2FY24 | H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|---|
| Revenue | 16 | 32 | 40.8 | 55.7 | 84.8 |
| Expenses | 11 | 21 | 35.6 | 53.7 | 75.1 |
| EBITDA | 4 | 11 | 8.5 | 5 | 14.6 |
| EBITDA margin | 28% | 34% | 21% | 9% | 17% |
| Profit before tax | 2 | 7 | 5.8 | 3.5 | 10.8 |
| Profit after tax | 2 | 6 | 4.4 | 2.3 | 10.1 |
Grand Continent Hotels profit and loss: revenue, profit and margins (FY21 to FY26)
Sales have grown very fast. Last year profit grew more slowly than sales, so the profit kept from each rupee of sales slipped.
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Sales | 3 | 6 | 17 | 31 | 72.6 | 141 |
| Expenses | 2 | 4 | 11 | 21 | 60 | 129 |
| Operating profit | 1 | 2 | 6 | 10 | 19.2 | 19.6 |
| OPM | 24% | 40% | 37% | 32% | 26% | 14% |
| Other income | 0 | 0 | 0 | 0 | 0.6 | 2.5 |
| Interest | 2 | 3 | 4 | 4 | 5.1 | 2.9 |
| Depreciation | 1 | 1 | 1 | 1 | 1.5 | 4.9 |
| Profit before tax | -2 | -2 | 2 | 6 | 13.2 | 14.2 |
| Tax rate | 34% | -52% | 45% | 26% | 19% | 12% |
| Net profit | -2 | -1 | 1 | 4 | 10.6 | 12.4 |
| EPS ₹ | -22.28 | -7.82 | 10.20 | 10.22 | 5.73 | 4.98 |
₹ crore, consolidated where the company reports it. Growth is compounded a year (our arithmetic).
Grand Continent Hotels balance sheet: assets, borrowings and net worth
The company's own money, its net worth, has grown. It borrowed much more last year. Its loans are smaller than its own money.
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Equity capital | 1 | 1 | 1 | 4 | 24.9 | 24.9 |
| Reserves | -2 | -3 | 0 | 26 | 81.9 | 94.5 |
| Borrowings | 31 | 35 | 37 | 33 | 11.1 | 36.8 |
| Other liabilities | 2 | 1 | 5 | 11 | 21.4 | 27.8 |
| Total liabilities | 33 | 34 | 42 | 74 | 139 | 184 |
| Fixed assets | 28 | 28 | 31 | 35 | 62.1 | 84.2 |
| Capital work in progress | 0 | 0 | 0 | 5 | - | - |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 5 | 7 | 11 | 34 | 77.1 | 99.8 |
| Total assets | 33 | 34 | 42 | 74 | 139 | 184 |
Grand Continent Hotels cash flow: operations, investing and financing
Last year the business used more cash than it brought in. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares.
Bars below the line are cash going out.
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Cash from operations | -1 | 1 | 8 | -1 | 6.2 | -17.7 |
| Cash from investing | -3 | -1 | -9 | -12 | -24.2 | -32.7 |
| Cash from financing | 3 | 0 | 1 | 21 | 42.4 | 22.7 |
| Net cash flow | -1 | 0 | 0 | 8 | 24.3 | -27.7 |
Grand Continent Hotels ratios: working capital days and returns
Customers take about as long to pay as they did in FY24.
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Debtor days | 187 | 153 | 27 | 34 | 27 | 36 |
| Inventory days | - | - | - | 24 | - | - |
| Days payable | - | - | - | 302 | - | - |
| Cash conversion cycle | 187 | 153 | 27 | -244 | - | - |
| Working capital days | 276 | -37 | -98 | -60 | - | - |
| ROCE | - | 3% | 17% | 20% | 20% | 13% |
| ROE | - | - | - | 26% | 16% | 11% |
Grand Continent Hotels promoters and major shareholders
Everyone holding one per cent or more at 31 March 2026, and how that changed since 30 Sept 2025:
| Holder | Type | Holding | Change |
|---|---|---|---|
| Ramesh Siva | Promoter | 36.60% | no change |
| Vidya Ramesh Vittal | Promoter | 18.25% | no change |
| Negen Undiscovered Value Fund | AIF | 9.37% | no change |
| Vivek Jain | Individual HNI | 2.89% | +1.16 pts |
| Ritu Bapna | NRI | 2.06% | new |
| Mithlesh R Sahani | Individual HNI | 2.03% | +0.71 pts |
| Mittal Analytics Private Limited | Body Corporate | 2.03% | no change |
| Reina R Jaisinghani | Individual HNI | 1.89% | no change |
| Niveshaay Hedgehogs Fund | AIF | 1.40% | -1.60 pts |
| Venturex Fund I | AIF | 1.23% | new |
| Hiten Ramniklal Mehta | Individual HNI | 1.17% | no change |
| Ajay T Jaisinghani | Individual HNI | 1.05% | no change |
From the shareholding pattern the company files with the exchange.
Grand Continent Hotels latest news, orders and filings
The company's filings with the exchange, latest first.
- General UpdatesGeneral Updates
- Shareholders meetingSrutinizers report of Annual General Meeting held on September 25, 2026. Further, the company has informed the Exchange regarding voting results
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
- Shareholders meetingProceedings of Annual General Meeting held on September 25, 2026
- Analysts/Institutional Investor Meet/Con. Call UpdatesAnalysts/Institutional Investor Meet/Con. Call Updates
- Copy of Newspaper PublicationCopy of Newspaper Publication
- Shareholders meetingNotice of Annual General Meeting to be held on September 25, 2026
- Copy of Newspaper PublicationCopy of Newspaper Publication
- General UpdatesGeneral Updates
- Outcome of Board MeetingHeld on August 27, 2026
- General UpdatesGeneral Updates
- General UpdatesGeneral Updates
Grand Continent Hotels share split, bonus and dividends
No share split, bonus issue or dividend is on record since listing.
From the corporate actions the company announces on the exchange.
Grand Continent Hotels annual reports, earnings calls and documents
- Offer documentread
- 31 May 2026read
- 30 Nov 2025read
- 31 July 2025read
- 14 May 2025read
Every document links to its source; “read” marks those this page is built from.
Checks we ran on Grand Continent Hotels' data
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (2,49,19,403 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY23 (₹10.20) and FY24 (₹10.22) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY21 to FY26.
- iPrices run to 4 Sept 2026, 30 days behind the market, from the exchange's daily figures.
Grand Continent Hotels study: what the filings say about the business
Read from 14 of the company's own documents
1Is it a good business?
Grand Continent Hotels earns from rooms and food in hotels it mostly leases rather than owns, which lets it open new hotels fast.
Its settled business hotels earn good margins, while leisure and new hotels take longer to pay their way.
The weak spot is that rents are fixed while room income moves, and a tax change has made those rents costlier.
It has been lifting room rates step by step, but says it cannot raise them sharply at once and could not pass on the GST cost on its rents.
The evidence
Average room rate rose from ₹3,830 in FY25 to ₹3,968 in FY26; the company is raising rents by 8 to 10% and says a 15 to 20% rise at once is not possible.
Annual report FY26, p.18; Earnings call transcript, May 2026, p.6 and p.16It competes for buildings and guests with larger chains, and leans on franchise names from Royal Orchid and Sarovar for part of its bookings.
The evidence
The managing director says bigger players approach the same properties and landlords have started raising rents.
Earnings call transcript, May 2026, p.24; Earnings call transcript, November 2025, p.10Guests are spread over many travellers and companies, but most come from business travel, and company tie-ups carry no fixed room commitment.
The evidence
Business travel is about 70% of the mix; corporate rates are agreed yearly and are need based, not fixed allocations.
Annual report FY26, p.14; Earnings call transcript, May 2026, p.27Leasing keeps it from buying buildings, but each new hotel needs deposits and fit out money, and borrowings rose in FY26.
The evidence
Cash from operations was about ₹18 crore negative in FY26, mostly security deposits of ₹32.5 crore; total debt went from ₹11.1 crore to ₹37.1 crore.
Earnings call transcript, May 2026, p.26; Annual report FY26, p.17It has kept signing new buildings, and some landlords come back with further hotels.
The evidence
Hotels went from 20 to 31 in a year; about 600 more keys are signed with advances paid, and the Somnath hotel came from the owners of its Dwarka hotel.
Annual report FY26, p.8; Earnings call transcript, May 2026, p.8 and p.19Fixed rents mean profit falls quickly when rooms sit empty, as with new hotels, the leisure off season or a tax change.
The evidence
EBITDA margin was 31.6% in FY24, 26.4% in FY25 and 11.3% in the first half of FY26; lease cost can reach 35 to 40% of revenue in a new hotel's first months.
Investor presentation, November 2025, p.31; Earnings call transcript, November 2025, p.9Each answer is about that one question, read from the documents; it is not a view on the shares.
2What do the numbers say?
Sales have grown fast every year as the company opened more hotels, while profit grew more slowly in the latest year.
The first half of the latest year was weak because of new hotels and the tax change, and the second half was much stronger.
Cash has gone into deposits and fit out for new leased hotels, so borrowings rose.
- About 600 keys signed for FY27, including Somnath, Varanasi, Ayodhya and Jaipur; the company expects about 2,450 keys by March 2027 (Earnings call transcript, May 2026, p.19 and p.29).
- Dubai franchise hotel: in May 2026 the company said it would decide with the landowners whether to continue (Earnings call transcript, May 2026, p.18).
- Revenue share and management contracts to soften the GST cost on rents: none signed as of May 2026 (Earnings call transcript, May 2026, p.22).
- USA: the company says it will study the first six months of its three hotels before adding more (Earnings call transcript, May 2026, p.23).
Frequently asked questions about Grand Continent Hotels
- What does Grand Continent Hotels do?
- Grand Continent Hotels runs mid-priced hotels for business travellers, families and pilgrims, mostly in buildings it leases. Most of its hotels are in India, with a few in the USA and Dubai, and its shares trade on NSE Emerge.
- What is the share price of Grand Continent Hotels?
- ₹99.9 at the close on 4 Sept 2026; prices on newboard run 30 days behind the market.
- What is the market cap of Grand Continent Hotels?
- ₹249 cr at the close on 4 Sept 2026, on 2,49,19,403 shares.
- What is the P/E of Grand Continent Hotels?
- 20.0 times FY26 profit at the close on 4 Sept 2026 (our arithmetic).
- What are Grand Continent Hotels' revenue and profit?
- Revenue ₹141 cr and profit after tax ₹12 cr in FY26.
- Who are the promoters of Grand Continent Hotels?
- Ramesh Siva, Vidya Ramesh; promoters held 54.85% at 31 March 2026.
- What was the IPO price of Grand Continent Hotels?
- ₹113 a share; it listed on 27 March 2025.
- What is Grand Continent Hotels' website?
- grandcontinenthotels.com