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.

IndiGo Shares Rise as Airline Appoints Aloke Singh as Chief Strategy Officer

By Hariharan U

Published on March 25, 2026

Shares of IndiGo saw a strong uptick, rising up to 4% to Rs 4,097 on the BSE, after the airline announced the appointment of Aloke Singh as its chief strategy officer.

In his new role, Singh will lead the airline’s long-term planning, including key initiatives such as the induction of Airbus A350 aircraft and the development of hub airports. The planned addition of these aircraft is expected to open doors for long-haul international operations, marking an important step in IndiGo’s expansion journey.

Singh will report to Rahul Bhatia, who is currently overseeing operations as interim CEO following the resignation of Pieter Elbers.

The leadership change comes after a challenging phase for the airline, including operational disruptions that saw a large number of flight cancellations due to pilot shortages and revised duty time norms.

Speaking on the appointment, Bhatia said, “Aloke brings an exceptional blend of strategic vision and operational depth. His comprehensive understanding of the aviation ecosystem will be invaluable as we build a more agile, resilient and future-ready organisation, and accelerate our next phase of growth.”

With over three decades of experience in the aviation sector, Singh has held leadership roles across strategy, operations, and commercial functions. During his tenure at Air India Express, he played a key role in its transition under the Tata Group, including its merger with AirAsia India, fleet expansion, and brand transformation.

Meanwhile, global brokerage Goldman Sachs has maintained a positive outlook on IndiGo, retaining its ‘Buy’ rating while revising its target price to Rs 5,200 per share. The revision reflects near-term pressures such as rising fuel costs and softer demand in certain international markets, though the airline continues to show strong growth potential.

Analysts also highlighted IndiGo’s financial position and market opportunities, noting that industry consolidation could work in its favour as supply constraints continue. The airline’s strong balance sheet remains a key advantage in navigating the current environment.

Recently, IndiGo also introduced a fuel surcharge across domestic and international routes, citing increased jet fuel prices linked to geopolitical tensions in the Middle East.

Overall, the leadership appointment and ongoing strategic initiatives signal IndiGo’s focus on strengthening its position and preparing for its next phase of growth.

Eternal Pumps Rs 450 Crore Into Blinkit as the Quick Commerce Race Gets More Intense

By Hariharan U

Published on March 16, 2026

The quick commerce battle in India is moving fast, and Eternal is making sure Blinkit keeps pace. The Gurugram-based parent company has infused Rs 450 crore into its quick commerce arm Blinkit, according to a regulatory filing with the Registrar of Companies. This is Eternal's first capital injection into the business in 2026, following a total of Rs 2,600 crore pumped in across 2025.

To put the 2025 numbers in context, Eternal injected Rs 500 crore in January, Rs 1,500 crore in February, and another Rs 600 crore in November of last year. The latest infusion signals that the pace of investment isn't letting up as competition in the 10-minute delivery segment continues to intensify.

Blinkit has reasons to feel confident heading into this next phase. The company turned profitable in the December quarter, reporting an adjusted EBITDA profit of Rs 4 crore in Q3FY26 compared to a loss of Rs 103 crore in the same period the previous year. Revenue jumped to Rs 12,256 crore from Rs 1,399 crore a year earlier, and gross profit climbed to Rs 3,539 crore from Rs 1,300 crore. Those are significant numbers, and they reflect a business that has found its footing even as it continues to scale aggressively.

The capital will support Blinkit's ongoing dark store expansion, working capital requirements, and operating costs as it pushes towards its target of 3,000 micro-warehouses by March 2027. As of December 31st, the company had 2,027 stores operational.

The competitive landscape around Blinkit is getting busier. Swiggy raised Rs 10,000 crore through a qualified institutional placement in December 2025, just over a year after its IPO. Zepto has filed confidential draft papers with SEBI for its own IPO. And larger players including Amazon, Flipkart, and Reliance Industries are all stepping up their presence in quick commerce, making this one of the most actively contested spaces in India's consumer technology sector right now.

There's also been a notable leadership shift at Eternal. Founder Deepinder Goyal stepped down as Managing Director and CEO in February, with Blinkit founder and CEO Albinder Dhindsa taking over the top role. Dhindsa continues to lead Blinkit as well, consolidating leadership of the quick commerce business at a critical growth phase.

One more number worth noting: in terms of net order value, Blinkit has now overtaken Eternal's core food delivery business. That's a remarkable milestone for a segment that didn't exist in its current form just a few years ago.

Devyani International Q3 FY26: Loss Widens to ₹109 Cr, Revenue Grows 11%

By Hariharan U

Published on February 9, 2026

Devyani International Ltd (DIL), one of India’s largest quick service restaurant (QSR) operators, reported a net loss of ₹109.78 crore for the December quarter of FY26, widening from a loss of ₹76.46 crore in the same period last year.

Despite the higher loss, the company posted steady top-line growth, with revenue from operations rising 11.31% year-on-year to ₹1,440.9 crore. Total income, including other income, stood at ₹1,453.22 crore, up 11.48% compared to the year-ago quarter.

Total expenses during the quarter increased 11.71% to ₹1,446.5 crore. However, Devyani International said it saw broad-based improvement in margins, supported by operational efficiencies and performance across formats. Notably, its Biryani By Kilo business, acquired last year through Sky Gate Hospitality, achieved breakeven during the quarter.

Commenting on the performance, chairman Ravi Jaipuria said, “Our business continues to grow in a sustained manner. India operations grew 12.1% year-on-year, while consolidated revenues reached ₹1,441 crore. Our international business continues to gather strength from both an operations and profitability perspective.”

As of December 31, 2025, Devyani International operated 2,279 stores globally, including 1,877 in India and 402 overseas. During the quarter, the company added 95 net new stores, led by 54 KFC and 18 Pizza Hut outlets, while Biryani By Kilo added 13 locations.

The company has also initiated a focused turnaround strategy for Pizza Hut by rationalising loss-making stores and optimising capital expenditure. Separately, Devyani International’s board approved the acquisition of an additional 11.4% stake in Sky Gate Hospitality for ₹57.5 crore.

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