For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Q: Can you provide an update on the developments at Oria Mumbai, particularly regarding the ARR and future pricing expectations? A: The retail pricing at Oria Mumbai varies significantly, and while current spot checks show lower rates, we expect the ARR to increase significantly during the high season. The focus has been on filling the hotel, and with occupancy now over 80%, we are confident that the ARR will reach the 11,000 to 12,000 range in the upcoming winter season. (Respondent: Chairman and Managing Director)

Q: What steps are being taken to increase the retail share from 45% to 65%, and how will this impact the income statement? A: The increase in retail share is expected due to rising demand from individual travelers. We are enhancing our loyalty program and website to capture more direct bookings, which will reduce costs and increase margins. We anticipate achieving the 65% retail target within three years. (Respondent: Chairman and Managing Director)

Q: With renovation costs expected to decrease by FY28, what is the projected EBITDA margin for that year? A: We expect the EBITDA margin to reach at least 55% by FY28, up from the current 50%. This is due to reduced renovation expenses and increased revenue growth. (Respondent: Chairman and Managing Director)