Benares Hotels Ltd — Earnings Release 2020

Nov 6, 2019

BHL/S. xchg./

November 6, 2019

BSE Limited, Corporate Relationship Department, 1[st] Floor, New Trading Ring, Rotunda Building, Dalal Street, Fort, Mumbai – 400 001 Scrip Code : 509438

SUB: PRESS RELEASE

Dear Sir,

Further to our letter dated November 6, 2019 intimating the Financial Results of the Company for the period ended September 30, 2019, enclosed is the copy of the Press Release on the same for your records.

You are requested to kindly take the same on record.

Thanking you,

Yours faithfully, for Benare s Hotels Ltd. Vanika Mahajan Company Secretary

PRESS RELEASE For immediate publication

BENARES HOTELS LIMITED DELIVERS A STRONG PERFORMANCE IN SECOND QUARTER OF FY 2019-20 WITH A 359% INCREASE IN PROFIT AFTER TAX

Disburses 150% Dividend

Mumbai, November 6, 2019: Benares Hotels Limited (BHL), a subsidiary of The Indian Hotels Company Limited (IHCL), reported its financials for the second quarter and half year ending September 30, 2019. The company proposed a dividend of 150% which was approved at the Company’s Annual General Meeting held in August 2019. It was disbursed to its shareholders in September 2019.

FINANCIAL RESULTS FOR THE 2[nd] QUARTER ENDING SEPTEMBER 30, 2019

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Q2 (July- Sept) Revenue EBITDA Profit After Tax
FY 19/20 11.2 Cr. 1.9 Cr. 0.7 Cr.<br>FY 18/19 9.7 Cr 1.5 Cr. 0.1 Cr.
15% 23% 359%
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“ Dr. Anant Narain Singh, Chairman, Benares Hotels Limited (BHL) said , In line with Aspiration 2022, the Company has shown a heathy growth across all parameters for the second quarter & half year ending 30[th] September 2019.”

KEY HIGHLIGHTS

• A new tented Jiva Spa opened at the Taj Nadesar Palace. Jiva - the unique Indian Spa brand expertly blends ancient Indian healing traditions with all the comforts of a modern luxury spa experience.

• Taj Nadesar Palace will add four rooms to its inventory which are likely to open before the end of this year.

About Benares Hotels Limited

Benares Hotels Limited (BHL) is a listed public limited company incorporated in 1971. The Company operates its hotels, viz. Taj Ganges Varanasi and Taj Nadesar Palace in Varanasi and The Gateway Hotel, Gondia in Maharashtra. The Company became a subsidiary of The Indian Hotels

Company Limited (IHCL) in 2011. While Taj Ganges Varanasi and Taj Nadesar Palace at Varanasi have 140 rooms and suites, The Gateway Hotel at Gondia has 34 rooms.

The Company has been participating in the globally recognised Earth-Check benchmarking and certification system. The Company has been certified Earth-Check Gold for its Taj Ganges Varanasi Hotel continuously for a period of 4 years.

Please visit www.benareshotelslimited.com