Benares Hotels Ltd — Earnings Release 2021

Oct 23, 2020

BENARES HOTELS LIMITED

CIN: L55101UP1971PLC003480

Corporate Office: Taj Palace, Sardar Patel Marg, New Delhi - 110021 Phone: 011 6650 3549/3704, 26110202 | Website: www.benareshotelslimited.com

October 23, 2020

The Secretary 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 October 23, 2020 intimating the Financial Results of the Company for the period ended September 30, 2020, 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 Benares Hotels Ltd.

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Vanika Mahajan Company Secretary

Registered Office: Nadesar Palace Compound, Varanasi - 221 002 Tel.: 0542 666 0001

PRESS RELEASE

BENARES HOTELS LIMITED ANNOUNCES RESULTS FOR SECOND QUARTER AND HALF YEAR ENDING SEPTEMBER 2020

Mumbai, October 23, 2020: Benares Hotels Limited (BHL), a subsidiary of The Indian Hotels Company Limited (IHCL), reported its results for the second quarter and half year ending September 30, 2020. The company proposed a dividend of 75% which was approved at the Company’s Annual General Meeting held on 29[th] September 2020. It was disbursed to its shareholders in October 2020.

FINANCIAL RESULTS FOR THE 2[nd] QUARTER ENDING SEPTEMBER 30, 2020

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Q2 (Jul - Sep) Revenue EBITDA Profit After Tax
Q2 FY 20/21 3.0 Cr. (2.1) Cr. (3.0) Cr.<br>Q2 FY 19/20 11.2 Cr 1.9 Cr. 0.7 Cr.
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Dr. Anant Narain Singh, Chairman, Benares Hotels Limited (BHL) said , “COVID -19 pandemic continues to weigh heavily on the travel and tourism business. The easing of restrictions in a phased manner under Unlock 2020 guidelines helped with generating some revenues and in the revival of operations at the hotels”.

KEY HIGHLIGHTS:

• The iconic brand “Taj” was ranked number one on the list of the strongest Indian brands by Brand Finance in their coveted “India 100 2020” report. Two BHL hotels are branded Taj.

• The installation of the second phase of Solar Power Plant of 244 kwp capacity has been completed. Along with saving of electricity costs, it will reduce the carbon footprint by approximately 246 Tonnes annually.

• BHL’s hotels have effectively implemented heightened hygiene and safety procedures for all guests, employees, partners and vendors. Some of these measures include thermal screening of all employees and guests, sanitisation of its hotels as well as new contactless processes and social -

• distancing measures. To Know more, Please visit: Tajness A Commitment Restrengthened

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 144 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 5 years.

Please visit www.benareshotelslimited.com