Leading brokerage houses remain bullish on Juniper Hotels (Juniper) on the back of its significant expansion pipeline and multiple triggers for future growth. Brokerages expect Juniper to nearly double its room count to over 3,900 keys by FY31, backed by a capex roadmap of over \u20b91,900 crore that is expected to be largely self-funded through internal accruals.<\/p>\n
The company is also in advanced-stage discussions to acquire three brownfield assets totalling around 600 keys.<\/p>\n
The management targets doubling EBITDA to roughly \u20b91,000 crore by FY31, implying a CAGR of about 20 per cent, while aiming to maintain operating margins of over 40 per cent and keep gross debt-to-EBITDA below 2.6 times.<\/p>\n
Juniper Hotels eyes acquisitions,\u00a0new brand tie-ups for growth<\/p>\n
Brokerage house Axis Capital raised its target price to \u20b9330, from \u20b9322 earlier, implying a potential upside of 72 per cent from Monday\u2019s closing price of \u20b9192. It said the commissioning of BEN Phase 1 in October could help rebuild investor confidence, triggering a rerating event.\u201d<\/p>\n
The brokerage noted that \u201cJuniper\u2019s current portfolio is strong and is complemented by an equally promising growth pipeline,\u201d adding that the company\u2019s big-box asset strategy of large-format hotels combining rooms, F&B, MICE and serviced apartments on single land parcels has the potential for strong long-term compounding.<\/p>\n
Another brokerage house, Choice Institutional Equities said \u201cJuniper, despite geopolitical uncertainty, delivered a healthy Q1FY27, with RevPAR (Revenue per available room) rising 13 per cent y-o-y to \u20b98,408, supported by 5 per cent ARR (Annual Recurring Revenue) growth to \u20b911,062 and occupancy improvement of 500 bps to 76 per cent. Going forward, growth is expected to be driven by the company\u2019s 2 times keys expansion roadmap, targeting 3,900 keys and \u20b91,000 crore EBITDA by FY31E.<\/p>\n
Further, Juniper is in advanced discussion for three brownfield acquisitions (600 keys). The \u20b91,930 crore capex plan through FY31, largely funded through \u20b91,600-1,800 crore internal surplus, provides a visible runway for expansion.<\/p>\n
Nuvama Institutional Equities also said Juniper Hotels holds several latent growth opportunities within its footprint, including a land parcel near Grand Hyatt Mumbai with 0.3mn sq. ft. of built-up area designated for mixed-use development.<\/p>\n
The company is also pursuing a 0.2mn sqft brownfield expansion at Grand Hyatt Mumbai, which is expected to add 317 rooms and serviced apartments.<\/p>\n
Furthermore, the company retains 17,000 sqft of existing land in Thiruvananthapuram for future deployment, it said.<\/p>\n
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