PARKHOTELS2023-10-012023-12-31 PARKHOTELS2023-10-012023-12-31 PARKHOTELS2023-10-012023-12-31in-bse-fin:OneOperatingExpenses01Member PARKHOTELS2023-10-012023-12-31in-bse-fin:FourOperatingExpenses01Member PARKHOTELS2023-12-31 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 544111 PARKHOTELS NOTLISTED Apeejay Surrendra Park Hotels Limited Equity 2023-04-01 2024-03-31 2024-03-04 2024-02-21 INR Crores Third quarter 15:30:00 18:00:00 2024-03-04 2024-03-04 Not applicable Single segment Hospitality 2023-10-01 2023-12-31 Unaudited Standalone 1522000000.00 43200000.00 1565200000.00 206700000.00 0.00 -5400000.00 300800000.00 176900000.00 135500000.00 483700000.00 1298200000.00 267000000.00 0.00 267000000.00 33800000.00 -24600000.00 9200000.00 0.00 257800000.00 0.00 0.00 0.00 0.00 257800000.00 1100000.00 258900000.00 0.00 0.00 174660000.00 1 1.48 1.48 0.00 0.00 1.48 1.48 Notes to unaudited standalone Results 1. The Company’s standalone unaudited financial results for the quarter and nine months ended December 31, 2023, have been prepared 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 Regulation 33 of the Listing Regulations. 2. The above standalone unaudited financial results of the Company for the quarter and nine months ended December 31, 2023, have been reviewed and recommended by the Audit Committee and approved by the Board of Directors in their respective meetings held on March 04, 2024. The Statutory auditors have expressed an unmodified opinion on these standalone unaudited financial results. 3. In previous years, the Company acquired certain parcel of lands of 3.36 acres at EM Bypass, Kolkata. The Company intends to utilise said land bank to construct a hotel (51%) and serviced apartments (49%) at EM Bypass. Accordingly, during the current quarter, the Company has executed a Joint Development Agreement ('JDA'), power of attorney and a contractual arrangement for development of serviced apartments and hotel at EM Bypass on December 15, 2023 with Ambuja Housing and Urban Infrastructure Company Limited (“Developer”). Pursuant to the JDA, the Developer at its own cost and expense will construct and market the serviced apartments, and revenue received from assignment or sublease of serviced apartments will be distributed amongst Developer and Company at a predetermined ratio. Further, the Company will develop the proposed hotel at EM Bypass on project management consultancy model, entrusting the Developer with responsibility of completing the structure and cladding of the hotel at EM Bypass. 4. During the current quarter, Cyclone Michaung resulted in widespread flooding in the state of Tamil Nadu, impacting hotel operations at THE Park, Chennai including damage to certain engineering equipment at the property. The Company has performed a preliminary assessment of the assets damaged as a result of the flood and have accordingly written off WDV of such assets identified amounting to INR 1.17 crores. The Company is in process of filing the insurance claim for such losses. Any further adjustment to write off amount identified above if any, will be considered when the claim is finalised. However, management does not expect any material adjustment on this account. 5. The Company has formulated an employee stock option scheme namely the Apeejay Surrendra Park Hotels Limited – Employees Stock Option Plan 2023 (“ESOP Scheme”) pursuant to resolutions passed by the Board and the Shareholders on August 16, 2023, respectively, with a maximum options pool of 3,400,000 options. During the quarter ended September 30, 2023, the Company has granted 2,030,000 options to eligible employees. Vesting of the share options is dependent on the completion of a minimum period of employment with the Company and/ or fulfilment of performance conditions as may be specified in this regard. The granted Options shall vest over a period of 1-3 years subject to completion of minimum no. of years of service as specified under the respective options and shall be exercisable within 1-3 years from the date of respective vesting. Pursuant to the above, the Company has recognized an expense of INR 1.83 crore, INR 1.23 crore and INR 0.60 crore during the nine months ended December 31, 2023, quarter ended December 31, 2023 and quarter ended September 30, 2023 respectively. Single segment 2023-04-01 2023-12-31 Unaudited Standalone 4063100000.00 126200000.00 4189300000.00 548900000.00 0.00 -5200000.00 833400000.00 507600000.00 364900000.00 1352900000.00 3602500000.00 586800000.00 0.00 586800000.00 85800000.00 25000000.00 110800000.00 0.00 476000000.00 0.00 0.00 0.00 0.00 476000000.00 -3900000.00 472100000.00 0.00 0.00 174660000.00 1 2.73 2.73 0.00 0.00 2.73 2.73 Other Expenses 483700000.00 Other Expenses 1352900000.00 1. The Company is primarily engaged in business of owning, operating and managing hotels (‘Hospitality segment’). The Board of directors which has been identified as the Chief operating decision maker (‘CODM’) reviews the performance of the Company as a single operating segment in accordance with Ind AS-108 “Operating Segments i.e., the ‘Hospitality segment’, notified pursuant to the Companies (Indian Accounting Standard) Rules 2015. Accordingly, no separate segment information has been furnished herewith. 2. Subsequent to the quarter ended December 31, 2023, the Company has completed its Initial Public Offering (IP0”) of 59,385,351 equity shares (including 675,675 equity shares issued to employees) of face value of Rs. 1 each at an issue price of Rs. 155 per share (Rs 148 per share for equity shares issued to employees). The above includes securities premium of Rs 154 per share (securities premium of Rs 147 share for equity shares offered to employees). The issue comprised of fresh issue of 38,740,191 equity shares aggregating to Rs. 600 crores and offer for sale of 20,645,160 equity shares aggregating to Rs. 320 crores. The equity shares of the Company were listed on National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on February 12, 2024. Out of the aforesaid proceeds from fresh issue, the Group has subsequently repaid term loans of INR 550 crores. 3. Consequent to IPO of the Company as explained in note 4 above, the statement of standalone unaudited financial results for the quarter and nine months ended December 31, 2023, is drawn up for the first time in accordance with the requirement of Regulation 33 of the Listing Regulations. Further, the figures for the quarters ended September 30, 2023 and December 31, 2022, and nine months ended December 31, 2022, as reported in these standalone unaudited financial results have been approved by the Board of Directors, but have not been subjected to review of the statutory auditors. 1500000.00 -5500000.00 400000.00 -1600000.00