Vikram Kamats Hospitality Limited Raises ₹28 Crore Equity to

Vikram Kamats Hospitality Limited Raises ₹28 Crore Equity to Accelerate Growth and Nationwide Expansion of VITS Hotels

By Author

Published on January 17, 2025

Vikram Kamats Hospitality Limited (VKHL), formerly known as Vidli Restaurants Limited, has successfully raised ₹28 crore through a preferential allotment. Known as a leader in the pure vegetarian South Indian premium dining segment and mid-market hotel industry, VKHL is set to further cement its presence with this latest funding initiative.

The total capital of ₹28 crore was secured from a mix of renowned investors, including:

Mrinalini Jaisinghani (part of the Polycab Group)
Nabs Vriddhii LLP (part of the Sattva Group)
The Golden Bird Fund, a notable foreign portfolio investor
Green Portfolio Fund Management

This strategic fundraising initiative is poised to accelerate the expansion of the VITS Hotels brand, a mid-market hotel chain renowned for providing exceptional service and a homely experience for travelers. With more than 25 properties across India, VITS Hotels has become synonymous with premium comfort hospitality, appealing to both leisure and business travelers.

Expanding the Horizons of Mid-Market Hospitality

Expressing his gratitude and excitement, Dr. Vikram Kamat, Managing Director of Vikram Kamats Hospitality Limited, stated:

“Since 2016, we have provided excellent returns to our investors despite market fluctuations by focusing on a profitable business and strategic expansion. This funding demonstrates the continued trust of marquee investors and family offices in us. We will pursue an asset-light growth strategy by adding new VITS Hotels and Kamats Restaurants across India.”

Founded in 2007 by Dr. Vikram Kamat, VKHL is the flagship company of the VITSKAMATS Group, a diversified hospitality chain listed on the Bombay Stock Exchange (BSE ID: KAMATS & BSE Code: 539659). While VKHL primarily focuses on the Kamats Restaurant and VITS Hotels business, its subsidiary, Vitizen Hotels Ltd., operates hotel properties under lease, franchise, and management models.

The Road Ahead

With this latest infusion of funds, VKHL is poised to unlock new opportunities and redefine mid-market hospitality in India. The company remains committed to quality, innovation, and customer satisfaction while emphasizing sustainable growth.

Dr. Kamat’s leadership has been instrumental in setting new benchmarks for the Indian hospitality industry, delivering memorable guest experiences, and driving operational excellence.

About Vikram Kamats Hospitality Limited

Established in 2007 by hospitality visionary Dr. Vikram Kamat, Vikram Kamats Hospitality Limited (VKHL) is the driving force behind the VITSKAMATS Group. VKHL’s portfolio includes the Kamats Restaurants and VITS Hotels chain, an expanding network of mid-market hotels and resorts across India. Known for blending comfort, quality service, and exceptional dining, VITS Hotels caters to both business and leisure travelers.

VKHL also holds a majority stake in Vitizen Hotels Ltd., which operates its hotel properties under lease, franchise, and management models. Focused on sustainable growth and innovation, the company aims to set new benchmarks in the Indian hospitality industry by ensuring every guest’s experience is both enriching and memorable.

With this successful fundraising, VKHL is poised to achieve significant growth, expanding its footprint across India and reinforcing its position as a leader in mid-market hospitality.

Apeejay Surrendra Park Hotels Reports Q4 FY26 Revenue of INR 183.7 Cr

By Manu Vardhan Kannan

Published on May 30, 2026

Apeejay Surrendra Park Hotels Limited (ASPHL) has announced its financial results for the fourth quarter and financial year ended March 31, 2026, reporting steady operational growth supported by strong occupancy levels and continued expansion across key hospitality markets.

The company reported revenue from operations of INR 183.70 crore for Q4 FY26, compared to INR 177.32 crore during the same quarter last year. Operating EBITDA for the quarter stood at INR 52.99 crore, while profit after tax (PAT) was reported at INR 11.88 crore.

ASPHL recorded occupancy levels of 90 per cent during the quarter, reflecting sustained demand across both business and leisure travel segments and reinforcing the company’s position within India’s hospitality sector.

For the full financial year FY26, the company crossed the INR 700 crore annual revenue milestone for the first time, reporting revenue from operations of INR 707.28 crore. Annual PAT for the year stood at INR 65.72 crore.

The company stated that growth during FY26 was supported by expansion into Tier II and Tier III cities along with strategic acquisitions aimed at strengthening its presence in high-potential hospitality destinations.

During the financial year, ASPHL acquired control of Zillion Hotels and Resorts Private Limited, Fisherman’s Grove Resorts Private Limited, and Thali Hotels and Destinations Private Limited. These acquisitions are expected to further strengthen the company’s hospitality presence across Mumbai and Kerala.

ASPHL also reaffirmed its long-term growth plans and said it remains on track to more than double its room inventory to 6,653 keys over the next five years.

The company’s bakery and confectionery brand, Flurys, also continued its expansion during FY26. The brand currently operates 110 outlets and recorded a 29 per cent year-on-year revenue growth during the financial year, supported by new store additions and strong performance across existing outlets.

Commenting on the results, Vijay Dewan, Managing Director, Apeejay Surrendra Park Hotels, said FY26 marked a significant milestone as the company crossed INR 700 crore in annual revenue for the first time. He added that Q4 reflected resilient operational performance with continued leadership in occupancy and RevPAR metrics.

Dewan further noted that the sale of serviced apartments at EM Bypass, Kolkata, contributed positively to cash flow during the year. He added that the company remains focused on long-term value creation through portfolio expansion, guest-centric experiences, operational efficiency, and margin improvement.

The company also highlighted that recent global recognition received by Ran Baas The Palace, Patiala and The Lotus Palace, Chettinad further strengthens its positioning as a design-led and experience-driven hospitality group.

ITDC Reports Record FY26 Profit Growth Amid Global Uncertainty

By Hariharan U

Published on May 25, 2026

India Tourism Development Corporation (ITDC), the public sector undertaking under the Ministry of Tourism, Government of India, has reported a strong financial performance for FY 2025–26 with a 14 percent increase in profit before tax (PBT) compared to the previous financial year.

The corporation also announced a dividend payout of Rs 22.02 crore to the Government of India, reflecting continued operational strength and improved financial performance despite ongoing geopolitical uncertainties impacting the global hospitality and tourism sector.

According to the company, the growth was driven by enhanced operational efficiencies, strategic initiatives across business verticals, optimal resource allocation, and continued focus on customer-centric service delivery.

Commenting on the performance, Mugdha Sinha said the results reflect ITDC’s ongoing efforts towards strengthening service standards while building on the organisation’s long-standing legacy and institutional trust.

During the financial year, ITDC also introduced three operational manuals focused on procurement of goods and services, sound and light shows, and general clauses aimed at improving governance, standardisation, and transparency across institutional processes.

The corporation further highlighted its increasing focus on technology-enabled transformation through the adoption of AI-based solutions to improve operational agility, customer experience, and business planning capabilities.

FY26 also marked two major milestones for the organisation as ITDC celebrated 60 years of its legacy alongside 70 years of The Ashok, one of India’s most iconic hospitality properties.

The company stated that its future strategy will continue to focus on operational excellence, digital transformation, sustainability, and long-term value creation while strengthening its contribution to India’s tourism and hospitality ecosystem.

The financial performance comes at a time when India’s hospitality and tourism sector continues to navigate evolving global market conditions, changing travel patterns, and increased focus on technology-led efficiencies across public and private sector enterprises.

Zepto Eyes Rs 11,000-Crore IPO Launch in July 2026

By Manu Vardhan Kannan

Published on May 25, 2026

Quick commerce platform Zepto is reportedly preparing to launch its much-awaited Rs 11,000-crore initial public offering (IPO) in July 2026. According to people familiar with the matter, the Bengaluru-based startup is targeting a stock market debut before July 31.

If the public issue moves ahead as planned, Zepto will join competitors Zomato and Swiggy, which are already listed on Indian stock exchanges.

The company recently received approval from the Securities and Exchange Board of India (Sebi) for its maiden public issue and is now expected to submit its Updated Draft Red Herring Prospectus (UDRHP). Zepto had earlier filed its IPO papers through the confidential route in December 2025.

Founded by Stanford University dropouts Aadit Palicha and Kaivalya Vohra, Zepto has built its growth strategy differently from many players in the quick commerce space. A recent report by brokerage Bernstein highlighted that the company has focused more on strengthening existing markets rather than rapidly expanding into newer locations.

According to the report, Zepto currently has the highest concentration of dark stores in the quick commerce category, operating nearly 21 stores per city. In comparison, several competitors operate around nine stores per city.

The report also noted that Zepto currently runs 1,255 dark stores across 61 cities, while rival Blinkit has 2,222 stores spread across 243 cities. Instead of aggressively entering more markets, Zepto appears to be prioritising stronger penetration within the cities where it already operates.

Bernstein further pointed out that Zepto maintains the highest store-to-pincode ratio in the segment, reflecting its strategy of building density in selected urban markets.

The company's network continues to remain heavily focused on metro cities, where factors such as faster delivery timelines, higher order frequency and stronger customer engagement can help improve operations over time.

According to the analysis, rather than pushing growth through large-scale expansion, Zepto appears to be focusing on building stronger usage patterns and operational efficiency within a smaller number of markets.

With IPO plans now moving forward, Zepto is preparing for a major milestone that could further strengthen its position in India's growing quick commerce market.

Welcome to post your talent

A platform dedicated to showcase the skills and creativity of hospitality professionals. Share your articles, videos and other content related to the industry and get recognized for your unique perspective and expertise. By posting your content and gaining likes from your own community, we'll categorize your talents and expose them to the hospitality world. Join our community of passionate hospitality professionals and let your talent shine!.