Benares Hotels Ltd — Earnings Release 2021

Apr 27, 2021

CIN: L55101UP1971PLC003480

BENARES HOTELS LIMITED

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

April 26, 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 April 26, 2021 intimating the Financial Results of the Company for the period ended March 31, 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

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

PRESS RELEASE

BENARES HOTELS LIMITED ANNOUNCES FOURTH QUARTER 2020-2021 RESULTS POSTS 13% INCREASE IN REVENUE OVER Q3

29% INCREASE IN EBITDA OVER Q3

Mumbai, April 26, 2021: Benares Hotels Limited (BHL), a subsidiary of The Indian Hotels Company Limited (IHCL), reported its results for the fourth quarter ending March 31, 2021.

FINANCIAL RESULTS FOR THE 4[th] QUARTER ENDING MARCH 31, 2021

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Q4 (Jan - Mar) Revenue EBITDA Profit After Tax
Q4 FY 20/21 11.1 Cr. 3.5 Cr. 1.0 Cr.
Q4 FY 19/20 19.5 Cr 8.0 Cr. 4.3 Cr.
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Dr. Anant Narain Singh, Chairman, Benares Hotels Limited (BHL) said , “Despite challenging market conditions the hotels have shown an increase in occupancies month on month in this quarter. The company reported a 13% increase in revenue and a 29% increase in EBITDA for Q4 Vis-a -Vis Q3 FY 20-21.”

KEY HIGHLIGHTS

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

• I-ZEST, contactless experiences for guests using technology has been rolled out at Taj Ganges, Varanasi, and Taj Nadesar Palace.

• Taj Ganges, Varanasi was awarded Earth Check Platinum certificate, acknowledging its consistent efforts towards sustainability.

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