Benares Hotels Ltd — Earnings Release 2022

Jul 30, 2021

July 30, 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 July 30, 2021 intimating the Financial Results of the Company for the quarter ended June 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 Benares Hotels Ltd.

Vanika Mahajan

Company Secretary

PRESS RELEASE

BENARES HOTELS LIMITED ANNOUNCES FIRST QUARTER 2021-2022 RESULTS POSTS 270% INCREASE IN REVENUE OVER Q1 LAST YEAR 62% INCREASE IN EBITDA OVER Q1 LAST YEAR

Mumbai, July 30, 2021: Benares Hotels Limited (BHL), a subsidiary of The Indian Hotels Company Limited (IHCL), reported its results for the first quarter ending June 30, 2021.

FINANCIAL RESULTS FOR THE I[st] QUARTER ENDING JUNE 30, 2021

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Q1 (Apr - Jun) Revenue EBITDA Profit After Tax
Q1 FY 21/22 3.9 Cr. (1.2) Cr. (2.3) Cr.
Q1 FY 20/21 1.0 Cr (3.1) Cr. (3.8) Cr.
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Dr. Anant Narain Singh, Chairman, Benares Hotels Limited (BHL) said , “The second wave of COVID – 19 led to lockdowns in our major source markets. Inspite of the challenging conditions, the company reported an increase of 270% in Revenue and 62% in EBITDA over Q1 FY 20/21.”

KEY HIGHLIGHTS:

• Taj has been recognised as ‘World’s Strongest Hotel Brand’ by Brand Finance Hotels 50 Report 2021. Two BHL hotels are branded Taj.

• All BHL hotels have effectively implemented heightened hygiene and safety protocols at its hotels.

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