Interim report
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Ref: BHVL/NSEBSE/BMD/26102026 October 26, 2026 Listing Department National Stock Exchange of India Limited Exchange Plaza, C-1, Block G Bandra Kurla Complex Bandra (E), Mumbai – 400 051 Department of Corporate Services – Listing BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai – 400 001 Re.: Scrip Symbol: BRIGHOTEL /Scrip Code: 544457 Dear Sir/ Madam, Subject: Board Meeting Decisions This is in continuation to our letter dated October 15, 2026 and pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a Meeting of the Board of Directors the Company was held as scheduled today i.e., October 26, 2026 and the Board inter-alia took the following decisions: (i) Approved the unaudited consolidated financial results for the second quarter and half year ended September 30, 202 6 along with the Limited Review Report of the Statutory Auditors of the Company. (ii) Approved the unaudited standalone financial results for the second quarter and half year ended September 30, 202 6 along with the Limited Review Report of the Statutory Auditors of the Company. The financial results along with limited review report of the Statutory Auditors are enclosed pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting started at 2.30 p.m. and ended at 4.40 p.m. The trading window of the Company was closed from October 01, 2026 and shall open on October 29, 2026. The above information is also hosted on the website of the Company at www.bhvl.in. Kindly take the same on your records. Thanking you, Yours faithfully, For Brigade Hotel Ventures Limited Akanksha Bijawat Company Secretary & Compliance Officer Encl: a/a
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12th Floor “UB City” Canberra Block No. 24, Vittal Mallya Road Bengaluru – 560 001, India Tel: +91 80 6648 9000 Chartered Accountants S.R. Batliboi & Associates LLP, a Limited Liability Partnership with LLP Identity No. AAB-4295 Regd. Office : 22, Camac Street, Block ‘B’, 3rd Floor, Kolkata-700 016 Independent Auditor’s Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors Brigade Hotel Ventures Limited 1. We have reviewed the accompanying statement of Unaudited Consolidated Financial Results of Brigade Hotel Ventures Limited (the “Holding Company”) and its subsidiary (the Holding Company and its subsidiary together referred to as the “Group”), for the quarter and six months ended September 30, 2026 (the “Statement”) attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations”). 2. The Holding Company’s Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 (Ind AS 34) “Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with the Listing Regulations. The Statement has been approved by the Holding Company’s Boar d of Directors. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing an d consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the Master Circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the following entities: Sl. No. Name of the entities A Holding Company 1) Brigade Hotel Ventures Limited B Subsidiary 1) SRP Prosperita Hotel Ventures Limited 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe thatthe accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards (‘Ind AS’) specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rule s issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. Emphasis of Matter We draw attention to Note 6 to the Statement in connection with ongoing legal proceedings relating to property tax and income tax survey matters. Our conclusion is not modified in respect of these matters .
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Chartered Accountants 7. Other matters The accompanying Statement includes the interim financial results, in respect of 1 subsidiary, whose unaudited interim financial statements include total assets of Rs. 14,646 lakhs as at September 30, 2026, total revenues of Rs. 1,860 lakhs and Rs. 3,558 lakhs, total net profit after tax of Rs. 406 lakhs and Rs. 685 lakhs and total comprehensive income of Rs. 425 lakhs and Rs. 704 lakhs, for the quarter ended September 30, 2026 and the six months ended September 30, 2026 , as considered in the Statement which have been reviewed by the subsidiary’s independent auditor. The independent auditor’s review report on interim financial statements of the subsidiary has been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures in respect of the subsidiary is based solely on the report of such auditors and procedures performed b y us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors. For S.R. BATLIBOI & ASSOCIATES LLP Chartered Accountants ICAI Firm registration number: 101049W/E300004 per Sudhir Kumar Jain Partner Membership No.: 213157 UDIN: 26213157TOEZEU5738 Place: Bengaluru Date: October 26, 2026
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( in ₹ lakhs) Sl No Particulars Quarter ended 30.09.2026 [Unaudited] Preceding quarter ended 30.06.2026 [Unaudited] Corresponding quarter ended 30.09.2025 [Unaudited] Year to date period figures for the current period ended 30.09.2026 [Unaudited] Year to date period figures for the previous period ended 30.09.2025 [Unaudited] Previous year ended 31.03.2026 [Audited] 1 Income (a) Revenue from operations 13,824 12,704 12,572 26,528 24,988 52,503 (b) Other income 412 379 408 791 495 1,841 Total income 14,236 13,083 12,980 27,319 25,483 54,344 2 Expenses (a) Cost of materials consumed 1,249 1,194 1,120 2,443 2,307 4,740 (b) Employee benefits expense 2,647 2,377 2,514 5,024 4,979 10,385 (c) Finance costs 970 871 1,352 1,841 3,242 5,153 (d) Depreciation and amortisation expenses 1,323 1,353 1,360 2,676 2,690 5,439 (e) Other expenses 5,117 4,963 5,223 10,080 9,892 19,988 Total expenses 11,306 10,758 11,569 22,064 23,110 45,705 3 Profit before tax (1-2) 2,930 2,325 1,411 5,255 2,373 8,639 4 Tax expense (a) Current tax - - - - - - (b) Deferred tax 735 591 351 1,326 597 2,180 735 591 351 1,326 597 2,180 5 Profit for the period/year (3-4) 2,195 1,734 1,060 3,929 1,776 6,459 6 Other comprehensive income for the period/year (a) Items that will not be reclassified to profit and loss i) Re-measurement gains/(losses) on defined benefit plan 14 - 10 14 1 5 ii) Income tax relating to above (3) - (2) (3) - (1) 11 - 8 11 1 4 7 Total comprehensive income for the period/year [Comprising profit for the period/year and other comprehensive income for the period/year (5+6)] 2,206 1,734 1,068 3,940 1,777 6,463 Attributable to: Owners of the parent 1,994 1,595 912 3,589 1,526 5,849 Non controlling interests 212 139 156 351 251 614 Of the Total comprehensive income above, Profit for the period/year attributable to: Owners of the parent 1,992 1,595 907 3,587 1,528 5,846 Non controlling interests 203 139 153 342 248 613 Of the Total comprehensive income above, Other comprehensive income for the period/year attributable to: Owners of the parent 2 - 5 2 (2) 3 Non controlling interests 9 - 3 9 3 1 8 Earnings per equity share: (in ₹) (of ₹ 10/- each) (not annualised for the period) (a) Basic 0.52 0.42 0.26 0.94 0.48 1.68 (b) Diluted 0.52 0.42 0.26 0.94 0.48 1.68 9 Paid-up equity share capital (Face value of ₹ 10/- each) 37,984 37,984 37,984 37,984 37,984 37,984 BRIGADE HOTEL VENTURES LIMITED Corporate Identity Number (CIN): L74999KA2016PLC095986 Regd. Office: 29th & 30th Floor, World Trade Center, Brigade Gateway Campus, 26/1, Dr. Rajkumar Road, Malleswaram – Rajajinagar, Bengaluru 560 055, Karnataka, India Email: investors@bhvl.in Website: https://bhvl.in Statement of unaudited consolidated financial results of Brigade Hotel Ventures Limited for the quarter and six months ended 30 September 2026
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BRIGADE HOTEL VENTURES LIMITED Corporate Identity Number (CIN): L74999KA2016PLC095986 Regd. Office: 29th & 30th Floor, World Trade Center, Brigade Gateway Campus, 26/1, Dr. Rajkumar Road, Malleswaram – Rajajinagar, Bengaluru 560 055, Karnataka, India Email: investors@bhvl.in Website: https://bhvl.in Statement of unaudited consolidated financial results of Brigade Hotel Ventures Limited for the quarter and six months ended 30 September 2026 Notes to financial results: 1 The consolidated statement of assets and liabilities are as below: Particulars As at 30.09.2026 [Unaudited] As at 31.03.2026 [Audited] A ASSETS 1 Non-current assets Property, plant and equipment 92,552 90,390 Capital work in progress 19,274 9,592 Intangible assets 151 176 Financial assets (i) Investments 6 6 (ii) Other non-current financial assets 6,153 1,687 Deferred tax assets (net) 3,111 4,440 Other non-current assets 1,531 1,017 Current tax assets (net) 969 826 123,747 108,134 2 Current assets Inventories 679 740 Financial assets Trade receivables 2,900 2,367 Cash and cash equivalents 2,664 2,221 Bank balances other than cash and cash equivalents 17,700 22,851 Other current financial assets 2,261 749 Other current assets 1,651 1,165 27,855 30,093 TOTAL ASSETS 151,602 138,227 B EQUITY Equity share capital 37,984 37,984 Instruments entirely equity in nature 150 150 Other equity 61,362 57,773 Equity attributable to equity holders of the parent 99,496 95,907 Non controlling interest 2,510 2,159 102,006 98,066 C LIABILITIES 1 Non-current Liabilities Financial liabilities Borrowings 8,510 9,790 Lease liabilities 20,229 16,616 Other non current financial liabilities 36 33 Other non-current liabilities 838 846 Non-current provisions 206 194 29,819 27,479 2 Current liabilities Financial liabilities Borrowings 8,991 4,257 Lease liabilities 428 111 Trade payables - Total outstanding dues of micro enterprises and small enterprises 367 357 - Total outstanding dues of creditors other than micro enterprises and small enterprises 3,590 3,976 Other current financial liabilities 4,668 2,434 Other current liabilities 1,477 1,306 Current provisions 256 241 19,777 12,682 TOTAL EQUITY AND LIABILITIES 151,602 138,227
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BRIGADE HOTEL VENTURES LIMITED Corporate Identity Number (CIN): L74999KA2016PLC095986 Regd. Office: 29th & 30th Floor, World Trade Center, Brigade Gateway Campus, 26/1, Dr. Rajkumar Road, Malleswaram – Rajajinagar, Bengaluru 560 055, Karnataka, India Email: investors@bhvl.in Website: https://bhvl.in Statement of unaudited consolidated financial results of Brigade Hotel Ventures Limited for the quarter and six months ended 30 September 2026 2 The consolidated statement of cash flows is as below: Particulars Year to date period figures for the current period ended 30.09.2026 [Unaudited] Year to date period figures for the previous period ended 30.09.2025 [Unaudited] A. Cash flows from operating activities Profit before tax 5,255 2,373 Adjustments: Depreciation and amortization expense 2,676 2,690 Impairment allowance for bad and doubtful debts 5 4 Government Grants - Capital subsidy (8) (8) Loss/(Gain) on sale of property, plant and equipment (2) 4 Interest expense 1,841 3,242 Interest income (770) (472) Operating profit before working capital changes 8,997 7,833 Movements in working capital : Increase/(Decrease) in trade payables (390) 2,428 Increase/(Decrease) in other liabilities 547 598 Increase/(Decrease) in provisions 53 23 Decrease/(Increase) in inventories 62 14 Decrease/(Increase) in trade receivables (536) 168 Decrease/(Increase) in other assets (784) 1,283 Cash generated from operations 7,949 12,347 Income taxes refunded/(paid), net (142) 128 Net cash flow generated from/(used in)operating activities 7,807 12,475 B. Cash flows from investing activities Purchase of property, plant and equipment (including capital work in progress and capital advance) (9,257) (19,618) Proceeds from sale of property, plant and equipment 2 9 Investment in bank deposits (10,087) (24,426) Redemption of bank deposits 9,372 695 Interest received 487 475 Net cash flow (used in)/generated from investing activities (9,483) (42,865) C. Cash flows from financing activities Proceeds from issue of equity shares (including securities premium), net of transaction costs - 84,181 Proceeds from borrowings 10,000 - Repayment of borrowings (11,110) (46,697) Interest paid (801) (1,725) Payment of principal portion of lease liabilities (130) (416) Payment of interest portion of lease liabilities (404) (341) Net cash flow generated from/(used in) financing activities (2,445) 35,002 Net increase in cash and cash equivalents (A + B + C) (4,121) 4,612 Cash and cash equivalents at the beginning of the period 1,964 (2,388) Cash and cash equivalents at the end of the period (2,157) 2,224 Components of cash and cash equivalents Cash on hand 23 28 With banks: - in current accounts 2,014 6,589 - deposits with original maturity of less than three months 627 25 Cheques on hand - 1 Cash and cash equivalents reported in balance sheet 2,664 6,643 Less: Bank overdraft (4,821) (4,419) Cash and cash equivalents as per statement of cash flows (2,157) 2,224
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BRIGADE HOTEL VENTURES LIMITED Corporate Identity Number (CIN): L74999KA2016PLC095986 Regd. Office: 29th & 30th Floor, World Trade Center, Brigade Gateway Campus, 26/1, Dr. Rajkumar Road, Malleswaram – Rajajinagar, Bengaluru 560 055, Karnataka, India Email: investors@bhvl.in Website: https://bhvl.in Statement of unaudited consolidated financial results of Brigade Hotel Ventures Limited for the quarter and six months ended 30 September 2026 3 4 5 6 7 8 Particulars Quarter ended 30.09.2026 [Unaudited] Preceding quarter ended 30.06.2026 [Unaudited] Corresponding quarter ended 30.09.2025 [Unaudited] Year to date period figures for the current period ended 30.09.2026 [Unaudited] Year to date period figures for the previous period ended 30.09.2025 [Unaudited] Previous year ended 31.03.2026 [Audited] Revenue from operations 12,009 11,052 10,808 23,061 21,674 45,436 Profit before tax 2,384 1,950 1,004 4,334 1,708 10,003 Profit after tax 1,789 1,455 755 3,244 1,280 8,232 For and on behalf of the Board of Directors of BRIGADE HOTEL VENTURES LIMITED CIN: L74999KA2016PLC095986 Nirupa Shankar Managing Director Bengaluru, India October 26, 2026 The unaudited standalone financial results of the Company for the quarter and six months ended September 30, 2026 can be viewed on the Company's website https://www.bhvl.in and also be viewed on the website of National Stock Exchange of India Ltd. and BSE Ltd. Figures for unaudited standalone financial results of the Company for the quarter and six months ended September 30, 2026 are as follows: (a) The Holding Company has been discharging property tax in respect of its hotel properties. In this regard, the Holding Company has received a demand notice from the municipal authority assessing the property tax for certain hotel property for the period from financial year 2011-12 to financial year 2021-22 resulting in demand of Rs.9,222 lakhs including interest and penalty thereon and the Holding Company has subsequently paid Rs.4,093 lakhs under protest and an additional amount of Rs.510 lakhs to be paid under protest, which are provided for. During the previous year ended March 31, 2025, the aforesaid demand was revised by the municipal authority to Rs. 2,874 lakhs (net of payment under protest already provided for) for the financial year 2011-12 to financial year 2023-24 under One time settlement Scheme by a competent authority. The Holding Company has litigated the aforesaid matter, which is pending adjudication. The Holding Company is reasonably confident of a favourable outcome in respect of the aforesaid matter based on the management’s evaluation and the legal opinion obtained by the management. Pending ultimate outcome of the matter, no adjustments have been made in the accompanying unaudited consolidated financial results. (b) A survey under section 133A of the Income Tax Act ('the Act') was conducted in December 2025 on the Holding Company. As on the date of the financial results, the Holding Company has not received any demand or show cause notice from Income tax authorities pursuant to such survey proceedings. The management has confirmed that the Holding Company has complied with the requirements of the Act and does not expect any further liability on final assessment of the aforesaid matter. The Statement of unaudited consolidated financial results of Brigade Hotel Ventures Limited (the "Company" or the "Holding Company") and its subsidiary (the Holding Company and its subsidiary together referred to as the "Group") for the quarter and six months ended September 30, 2026, is drawn up in accordance with the Regulation 33 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, which was reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on October 26, 2026 and were subjected to limited review by the Statutory Auditors of the Company. The above unaudited consolidated financial results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting standard 34 (Ind AS 34) “Interim Financial Reporting” specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. During the previous year ended March 31, 2026: a) The Company had allotted an aggregate of 14,000,000 equity shares of face value of Rs. 10 each aggregating to Rs. 12,600 lakhs at an issue price of Rs. 90 per equity share (including a premium of Rs.80 per equity share) on a preferential basis (Pre-IPO Placement). b) The Company had completed its Initial Public Offering (IPO) comprising fresh issue of 84,412,565 equity shares of face value of Rs. 10 each aggregating to Rs. 75,960 lakhs (which comprises of 376,986 number of equity shares issued to employees at premium of Rs. 77 per equity share and balance 84,035,579 number of equity shares issued at premium of Rs. 80 per equity share). The Company's equity shares were listed on the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on July 31, 2025. The Group is engaged in the business of hospitality. The Board of Directors being the Chief Operating Decision Maker (CODM) evaluates the Group's performance and allocates resources based on an analysis of various performance indicators by industry classes. All operating segments operating results are reviewed regularly by CODM to make decisions about resources to be allocated to the segments and assess their performance. CODM believes that these are governed by same set of risks and returns hence, CODM reviews them as one component. Hence, there are no additional disclosures to be provided under Ind-AS 108 – Segment information with respect to the single reportable segment, other than those already provided in this Statement. Further, the Holding Company and it's subsidiary is domiciled in India and the Group's non-current assets are located in India. There is no identifiable major customer in the Group who is contributing more than 10% of revenue. c) In accordance with Ind AS 32, the transaction costs amounting to Rs. 4,575 lakhs in relation to IPO and Pre-IPO Placement was accounted for as a deduction from equity under securities premium. As at September 30, 2026, the gross proceeds amounting to Rs. 68,464 lakhs has been utilised for the purpose for which they have been raised and the balance unutilised amount of Rs. 20,096 lakhs, have been temporarily invested in deposit accounts with bank and held in current accounts with banks.
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Chartered Accountants S.R. Batliboi & Associates LLP, a Limited Liability Partnership with LLP Identity No. AAB-4295 Regd. Office : 22, Camac Street, Block ‘B’, 3rd Floor, Kolkata-700 016 12th Floor “UB City” Canberra Block No. 24, Vittal Mallya Road, Bengaluru – 560 001, India Tel: +91 80 6648 9000 Independent Auditor’s Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors Brigade Hotel Ventures Limited 1. We have reviewed the accompanying statement of unaudited standalone financial results of Brigade Hotel Ventures Limited (the “Company”) for the quarter and six months ended September 30, 2026 (the “Statement”) attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations”). 2. The Company’s Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 (Ind AS 34) “Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with the Listing Regulations. The Statement has been approved by the Company’s Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standar ds (‘Ind AS’) specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 5. Emphasis of Matter We draw attention to Note 6 to the Statement in connection with ongoing legal proceedings relating to property tax and income tax survey matters. Our conclusion is not modified in respect of these matters . For S.R. BATLIBOI & ASSOCIATES LLP Chartered Accountants ICAI Firm registration number: 101049W/E300004 per Sudhir Kumar Jain Partner Membership No.: 213157 UDIN: 26213157VMFFPD7468 Place: Bengaluru Date: October 26, 2026
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(in ₹ lakhs) Sl No Particulars Quarter ended 30.09.2026 [Unaudited] Preceding quarter ended 30.06.2026 [Unaudited] Corresponding quarter ended 30.09.2025 [Unaudited] Year to date period figures for the current period ended 30.09.2026 [Unaudited] Year to date period figures for the previous period ended 30.09.2025 [Unaudited] Previous year ended 31.03.2026 [Audited] 1 Income (a) Revenue from operations 12,009 11,052 10,808 23,061 21,674 45,436 (b) Other income 484 448 458 932 531 1,960 Total income 12,493 11,500 11,266 23,993 22,205 47,396 2 Expenses (a) Cost of materials consumed 1,103 1,073 994 2,176 2,061 4,207 (b) Employee benefits expense 2,380 2,117 2,282 4,497 4,488 9,390 (c) Finance costs 957 847 1,242 1,804 2,981 4,815 (d) Depreciation and amortisation expenses 1,220 1,202 1,186 2,422 2,354 4,748 (e) Other expenses 4,449 4,311 4,558 8,760 8,613 17,233 Total expenses 10,109 9,550 10,262 19,659 20,497 40,393 3 Profit before exceptional items and tax (1-2) 2,384 1,950 1,004 4,334 1,708 7,003 4 Exceptional items Reversal of impairment loss on investments (Refer note 8) - - - - - 3,000 - - - - - 3,000 5 Profit before tax (3+4) 2,384 1,950 1,004 4,334 1,708 10,003 6 Tax expense (a) Current tax - - - - - - (b) Deferred tax 595 495 249 1,090 428 1,771 595 495 249 1,090 428 1,771 7 Profit for the period/year (5-6) 1,789 1,455 755 3,244 1,280 8,232 8 Other comprehensive income for the period/year (a) Items that will not be reclassified to profit and loss i) Re-measurement gains/(losses) on defined benefit plan (11) - 2 (11) (7) 1 ii) Income tax relating to above 3 - 0 3 2 - (8) - 2 (8) (5) 1 9 Total comprehensive income for the period/year [Comprising profit for the period/year and other comprehensive income for the period/year (7+8)] 1,781 1,455 757 3,236 1,275 8,233 10 Earnings per equity share: (in ₹) (of ₹ 10/- each) (not annualised for the period) (a) Basic 0.47 0.38 0.22 0.85 0.40 2.36 (b) Diluted 0.47 0.38 0.22 0.85 0.40 2.36 11 Paid-up equity share capital (Face value of ₹ 10/- each) 37,984 37,984 37,984 37,984 37,984 37,984 BRIGADE HOTEL VENTURES LIMITED Corporate Identity Number (CIN): L74999KA2016PLC095986 Regd. Office: 29th & 30th Floor, World Trade Center, Brigade Gateway Campus, 26/1, Dr. Rajkumar Road, Malleswaram – Rajajinagar, Bengaluru 560 055, Karnataka, India Email: investors@bhvl.in Website: https://bhvl.in Statement of unaudited standalone financial results of Brigade Hotel Ventures Limited for the quarter and six months ended 30 September 2026
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BRIGADE HOTEL VENTURES LIMITED Corporate Identity Number (CIN): L74999KA2016PLC095986 Regd. Office: 29th & 30th Floor, World Trade Center, Brigade Gateway Campus, 26/1, Dr. Rajkumar Road, Malleswaram – Rajajinagar, Bengaluru 560 055, Karnataka, India Email: investors@bhvl.in Website: https://bhvl.in Statement of unaudited standalone financial results of Brigade Hotel Ventures Limited for the quarter and six months ended 30 September 2026 Notes to financial results: 1 The standalone statement of assets and liabilities are as below: Particulars As at 30.09.2026 [Unaudited] As at 31.03.2026 [Audited] A ASSETS 1 Non-current Assets Property, plant and equipment 84,231 81,846 Capital work in progress 19,255 9,581 Intangible assets 149 174 Financial assets (i) Investments 17,219 17,219 (ii) Other non-current financial assets 4,603 162 Deferred tax assets (net) 1,416 2,503 Other non-current assets 1,489 970 Current tax assets (net) 817 618 129,179 113,073 2 Current assets Inventories 620 664 Financial assets Trade receivables 2,358 2,001 Cash and cash equivalents 1,818 1,892 Bank balances other than cash and cash equivalents 17,700 22,354 Other current financial assets 1,084 650 Other current assets 1,584 1,075 25,164 28,636 TOTAL ASSETS 154,343 141,709 B EQUITY (a) Equity share capital 37,984 37,984 (b) Other equity 67,670 64,434 105,654 102,418 C LIABILITIES 1 Non-current Liabilities Financial liabilities Borrowings 8,510 9,790 Lease liabilities 20,229 16,606 Other non-current liabilities 838 846 Non-current provisions 157 122 29,734 27,364 2 Current liabilities Financial liabilities Borrowings 8,991 4,257 Lease liabilities 403 81 Trade payables - Total outstanding dues of micro enterprises and small enterprises 251 279 - Total outstanding dues of creditors other than micro enterprises and small enterprises 3,255 3,634 Other current financial liabilities 4,507 2,271 Other current liabilities 1,302 1,167 Current provisions 246 238 18,955 11,927 TOTAL EQUITY AND LIABILITIES 154,343 141,709
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BRIGADE HOTEL VENTURES LIMITED Corporate Identity Number (CIN): L74999KA2016PLC095986 Regd. Office: 29th & 30th Floor, World Trade Center, Brigade Gateway Campus, 26/1, Dr. Rajkumar Road, Malleswaram – Rajajinagar, Bengaluru 560 055, Karnataka, India Email: investors@bhvl.in Website: https://bhvl.in Statement of unaudited standalone financial results of Brigade Hotel Ventures Limited for the quarter and six months ended 30 September 2026 2 The standalone statement of cash flows is as below: Particulars Year to date period figures for the current period ended 30.09.2026 [Unaudited] Year to date period figures for the previous period ended 30.09.2025 [Unaudited] A. Cash flows from operating activities Profit before tax 4,334 1,708 Adjustments: Depreciation and amortization expense 2,422 2,354 Impairment allowance for bad and doubtful debts 5 4 Government Grants - Capital subsidy (8) (8) Interest expense 1,804 2,981 Interest income (913) (512) Operating profit before working capital changes 7,644 6,527 Movements in working capital : Increase/(Decrease) in trade payables (407) 2,354 Increase/(Decrease) in other liabilities 298 641 Increase/(Decrease) in provisions 32 13 Decrease/(Increase) in inventories 44 20 Decrease/(Increase) in trade receivables (362) 81 Decrease/(Increase) in other assets (657) 1,327 Cash generated from operations 6,592 10,963 Income taxes refunded/(paid), net (198) 169 Net cash flow generated from/(used in)operating activities 6,394 11,132 B. Cash flows from investing activities Purchase of property, plant and equipment (including capital work in progress and capital advance) (9,217) (19,502) Investment in bank deposits (9,293) (23,941) Redemption of bank deposits 9,372 639 Investment in non-convertible debentures - (5,445) Interest received 708 475 Net cash flow (used in)/generated from investing activities (8,430) (47,774) C. Cash flows from financing activities Proceeds from issue of equity shares (including securities premium), net of transaction costs - 84,181 Proceeds from borrowings 10,000 - Repayment of borrowings (11,110) (40,849) Interest paid (973) (1,475) Payment of principal portion of lease liabilities (116) (403) Payment of interest portion of lease liabilities (403) (338) Net cash flow generated from/(used in) financing activities (2,602) 41,116 Net increase in cash and cash equivalents (A + B + C) (4,638) 4,474 Cash and cash equivalents at the beginning of the period 1,635 (2,326) Cash and cash equivalents at the end of the period (3,003) 2,148 Components of cash and cash equivalents Cash on hand 19 23 With banks: - in current accounts 1,772 6,519 - deposits with original maturity of less than three months 27 25 Cash and cash equivalents reported in balance sheet 1,818 6,567 Less: Bank overdraft (4,821) (4,419) Cash and cash equivalents as per statement of cash flows (3,003) 2,148
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BRIGADE HOTEL VENTURES LIMITED Corporate Identity Number (CIN): L74999KA2016PLC095986 Regd. Office: 29th & 30th Floor, World Trade Center, Brigade Gateway Campus, 26/1, Dr. Rajkumar Road, Malleswaram – Rajajinagar, Bengaluru 560 055, Karnataka, India Email: investors@bhvl.in Website: https://bhvl.in Statement of unaudited standalone financial results of Brigade Hotel Ventures Limited for the quarter and six months ended 30 September 2026 3 4 5 6 7 8 For and on behalf of the Board of Directors of BRIGADE HOTEL VENTURES LIMITED CIN: L74999KA2016PLC095986 Nirupa Shankar Managing Director Bengaluru, India October 26, 2026 The Company was carrying an impairment loss of Rs. 3,000 lakhs, which represented the impairment loss on investment of the Company in its subsidiary - SRP Prosperita Hotel Ventures Limited, which owns and operates a hotel property. Considering the changes in market environment in which the subsidiary’s hotel operates and economic performance of such hotel, the Company, in consultation with an external valuer, has updated the subsidiary's financial projections basis which the future cash flows have been estimated for the purpose of determining the recoverable amount as at March 31, 2026. Since, the recoverable value exceeded the cost of the investments as at March 31, 2026, the Company has reversed such impairment loss and recognised in the statement of profit and loss as an exceptional item during the year ended March 31, 2026. The Company is engaged in the business of hospitality. The Board of Directors being the Chief Operating Decision Maker (CODM) evaluates the Company's performance and allocates resources based on an analysis of various performance indicators by industry classes. All operating segments operating results are reviewed regularly by CODM to make decisions about resources to be allocated to the segments and assess their performance. CODM believes that these are governed by same set of risks and returns hence, CODM reviews them as one component. Hence, there are no additional disclosures to be provided under Ind-AS 108 – Segment information with respect to the single reportable segment, other than those already provided in this Statement. Further, the Company is domiciled in India and the Company's non-current assets are located in India. There is no identifiable major customer in the Company who is contributing more than 10% of revenue. (a) The Company has been discharging property tax in respect of its hotel properties. In this regard, the Company has received a demand notice from the municipal authority assessing the property tax for certain hotel property for the period from financial year 2011-12 to financial year 2021-22 resulting in demand of Rs.9,222 lakhs including interest and penalty thereon and the Company has subsequently paid Rs.4,093 lakhs under protest and an additional amount of Rs.510 lakhs to be paid under protest, which are provided for. During the previous year ended March 31, 2025, the aforesaid demand was revised by the municipal authority to Rs. 2,874 lakhs (net of payment under protest already provided for) for the financial year 2011-12 to financial year 2023-24 under One time settlement Scheme by a competent authority. The Company has litigated the aforesaid matter, which is pending adjudication. The Company is reasonably confident of a favourable outcome in respect of the aforesaid matter based on the management’s evaluation and the legal opinion obtained by the management. Pending ultimate outcome of the matter, no adjustments have been made in the accompanying unaudited standalone financial results. (b) A survey under section 133A of the Income Tax Act ('the Act') was conducted in December 2025 on the Company. As on the date of the financial results, the Company has not received any demand or show cause notice from Income tax authorities pursuant to such survey proceedings. The management has confirmed that the Company has complied with the requirements of the Act and does not expect any further liability on final assessment of the aforesaid matter. The Statement of unaudited standalone financial results of Brigade Hotel Ventures Limited (the "Company") for the quarter and six months ended September 30, 2026, is drawn up in accordance with the Regulation 33 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, which was reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on October 26, 2026 and were subjected to limited review by the Statutory Auditors of the Company. The above unaudited standalone financial results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 (Ind AS 34) “Interim Financial Reporting” specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. During the previous year ended March 31, 2026: b) The Company had completed its Initial Public Offering (IPO) comprising fresh issue of 84,412,565 equity shares of face value of Rs. 10 each aggregating to Rs. 75,960 lakhs (which comprises of 376,986 number of equity shares issued to employees at premium of Rs. 77 per equity share and balance 84,035,579 number of equity shares issued at premium of Rs. 80 per equity share). The Company's equity shares were listed on the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on July 31, 2025. a) The Company had allotted an aggregate of 14,000,000 equity shares of face value of Rs. 10 each aggregating to Rs. 12,600 lakhs at an issue price of Rs. 90 per equity share (including a premium of Rs.80 per equity share) on a preferential basis (Pre-IPO Placement). c) In accordance with Ind AS 32, the transaction costs amounting to Rs. 4,575 lakhs in relation to IPO and Pre-IPO Placement was accounted for as a deduction from equity under securities premium. As at September 30, 2026, the gross proceeds amounting to Rs. 68,464 lakhs has been utilised for the purpose for which they have been raised and the balance unutilised amount of Rs. 20,096 lakhs, have been temporarily invested in deposit accounts with bank and held in current accounts with banks.