Sterling Reports 27th Consecutive Profitable Quarter; Portfolio Crosses 4,000 Keys

Strong H1 performance, record resort openings, a growing managed-resort business and a debt-free balance sheet position Sterling for its next phase of growth.

Financial Performance
- Reported its 27th consecutive profitable quarter.
- Q2 FY27 revenue reached a record ₹1,272 million, up 17% YoY. Q2 EBITDA stood at ₹289 million.

H1 FY27 Highlights
- Revenue from operations grew 19% to ₹2,971 million.
- EBITDA increased 15% to ₹910 million.
- Profit Before Tax (PBT) rose 22% to ₹623 million.

Expansion Milestone
- Opened 7 new resorts in Q2, its highest-ever quarterly expansion.
- Portfolio expanded to 83 resorts with over 4,000 keys.
- Signed 6 additional resorts during the quarter.

Managed Resort Business
- Managed resort revenue grew 67% YoY to ₹379 million.
- Contributed 23% of enterprise revenue.
- Managed portfolio now comprises 42 resorts.

Operating Performance
- H1 occupancy increased by 500 basis points to 68%.
- Average Room Rate (ARR) rose 11% to ₹7,222.
- Q2 ARR increased 12% to ₹6,494.

Balance Sheet Strength
- Remained debt-free.
- Cash reserves stood at ₹3,805 million.
- Operating free cash flow grew 16% to ₹593 million in H1.

Guest Experience & Recognition
- TripAdvisor rating improved to 4.63 from 4.60 a year ago.
- 31 resorts ranked No. 1 in their respective destinations.
- Won "Fastest Growing Leisure Hotel Chain" at the Today's Traveller Awards 2026 for the third consecutive year.
- Sterling ONE received the "Smart Tech Enabled Platform of the Year 2026 – B2B" award.

Management Comment
- Vikram Lalvani, Managing Director & CEO, said the company’s consistent profitability, record expansion, and debt-free balance sheet position Sterling for sustained growth.
- He added that the company remains focused on expanding its hospitality network, improving revenue productivity, and enhancing guest experiences.