Suba Hotels Limited has reported strong growth momentum and portfolio expansion post IPO, according to its filing with SEBI. The company’s revenue for Q3 FY26 stood at Rs 35.28 crore, supported by the addition of 528 keys following its IPO, the company said in a statement.

The company highlighted that nearly 85 percent of its recent expansion has been asset-light, reinforcing capital efficiency and improving margin visibility. Its portfolio remains balanced across pilgrimage, leisure, business, and tourism-led markets.

For H1 FY26, Suba Hotels reported revenue of Rs 43.79 crore, marking a 49 percent year-on-year increase. EBITDA margin for the same period stood at 20.03 percent, reflecting an improvement of 66 basis points YoY. Profit after tax for H1 FY26 was reported at Rs 5.24 crore, an increase of 69 basis points, the statement added.

On its growth strategy, the company said it is focusing on pilgrimage and religious tourism across the Ayodhya–Ujjain–Vindhyachal belt. Its expansion continues to be driven by high-EBITDA, asset-light models through lease and revenue-share structures. Suba Hotels has also established an international presence in Dubai and is evaluating broader opportunities across the GCC region.

The company is pursuing a dual-market strategy with entry into tier I business hubs such as Hyderabad–Gachibowli, while scaling its presence in tier II and III cities benefiting from infrastructure development and tourism growth. It aims to maintain a balanced portfolio across leisure, industrial, IT, and religious demand, with a clear runway for ARR, occupancy, and EBITDA expansion without putting stress on the balance sheet. Strengthening direct bookings, loyalty programmes, and corporate contracts also remains a key focus to enhance margins.

Commenting on the performance, Mansur Mehta, Managing Director, Suba Hotels Limited, said, “India’s travel and hospitality demand is undergoing a structural shift, with growth increasingly driven by domestic travel, infrastructure-led connectivity, and rising activity in Tier II and Tier III markets. Suba Hotels is strategically positioned at the intersection of these trends, with a portfolio concentrated in high-demand micro-markets across business hubs, pilgrimage circuits, industrial clusters, and emerging leisure destinations. Our location-led strategy, with hotels positioned near airports, SEZs, highways, and key urban nodes, provides strong year-round occupancy visibility and reduces seasonality risk. This, combined with our diversified customer mix across corporate, leisure, MICE, weddings, and religious travel, enables stable cash flows and pricing resilience across cycles.”

Mubeen Mehta, CEO, Suba Hotels Limited, added, “In parallel, we have initiated our international expansion with the successful establishment of operations in Dubai, leveraging the Click Hotels brand in a high-demand, India-linked travel market. This marks an important step in building an asset-light international platform, with a disciplined approach to evaluating further opportunities across the GCC region. By combining domestic expansion in underpenetrated markets with selective international growth, supported by asset-light models, advanced revenue management, and strengthening direct and corporate channels, we are confident in our ability to scale sustainably, enhance returns on capital, and create long-term value for our investors.”