The Economic Times reported, citing financials it reviewed, that Oravel Stays Limited had Q1 FY27 profit of Rs 353 crore, including about Rs 244 crore in deferred tax credit.
Oravel operates under the PRISM identity and is OYO’s parent. The report compared net profit of Rs 353 crore with Rs 301 crore a year earlier, and revenue from operations of Rs 2,814 crore with Rs 2,078 crore. Earnings before interest, taxes, depreciation and amortization (EBITDA) reached Rs 760 crore, up from Rs 611 crore. Gross booking value (GBV) totaled about Rs 9,600 crore, compared with Rs 7,408 crore. The report put the increases in EBITDA and GBV at 24% and 30%, respectively.
Hotel bookings grew 30% year over year and vacation-home bookings rose 28%, The Economic Times reported. PRISM founder and Group CEO Ritesh Agarwal attributed the results to investment in technology, brands and distribution. He said the company had started using artificial intelligence (AI) in its operations to improve efficiency, and described its operating earnings as healthy.
Separately, an Oct. 26 addendum filed by Oravel Stays Limited with the Securities and Exchange Board of India (SEBI) reduced the proposed initial public offering (IPO) fresh issue to up to Rs 3,350 crore from Rs 6,650 crore and removed a planned pre-IPO placement. The filing formalized an issue ceiling previously reported as a smaller proposal; EconoTimes had covered reports of the proposed reduction.
Earlier reporting gave reasons for the lower fundraising target. Press Trust of India (PTI), citing people familiar with the plan, reported that it reflected cash generated by the business and a reduced funding requirement. Sources cited separately by The Economic Times pointed to an improved balance sheet. PTI also reported that most proceeds from the smaller issue would go toward repaying or prepaying borrowings. PTI cited a person familiar with the plan who said the company expected business cash flow to cover its remaining debt over two to three years.
