Benares Hotels Ltd — Earnings Release 2022

Oct 14, 2021

October 14, 2021

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 14, 2021 intimating the Financial Results of the Company for the quarter ended September 30, 2021, 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

BENARES HOTELS LIMITED ANNOUNCES SECOND QUARTER 2021-2022 RESULTS REVENUES GREW BY 3.6X OVER Q2 LAST YEAR 220% INCREASE IN EBITDA OVER Q2 LAST YEAR

Mumbai, October 14, 2021: Benares Hotels Limited (BHL), a subsidiary of The Indian Hotels Company Limited (IHCL), reported its results for the second quarter ending September 30, 2021.

FINANCIAL RESULTS FOR THE SECOND QUARTER ENDING SEPTEMBER 30, 2021

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Q2 (Jul - Sep) Revenue EBITDA Profit After Tax
Q2 FY 21/22 10.6 Cr. 2.5 Cr. 0.5 Cr.
Q2 FY 20/21 3.0 Cr (2.1) Cr. (3.0) Cr.
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Dr. Anant Narain Singh, Chairman, Benares Hotels Limited (BHL) said , “The revival of domestic travel helped boost demand. We were able to show a marked improvement in revenues which increased by 3.6 times as compared to last year. EBITDA showed a 220% growth over last year. ”

KEY HIGHLIGHTS:

• Taj has been recognised as ‘World’s Strongest Hotel Brand’ as per Brand Finance 2021. Two BHL hotels are branded Taj.

• Leisure tourism is also growing gradually with unlocking and the restart of the famous Ganga Aarti.

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.

Please visit www.benareshotelslimited.com