Saj Hotels Limited, founded in 1981, is a hospitality company that offers an array of services such as resort lodgings, villa rentals, and dining options. They are the managing entity for three distinct resort properties, with direct operation over two and the third one under a lease agreement with an external party. These resorts serve as multifunctional spaces, catering to events like conferences, weddings, and various social occasions. Moreover, the company has strategically broadened its investment scope by acquiring a 50% stake in My Own Rooms Dot In Private Limited, further enhancing its presence and offerings in the hospitality sector.

For year/ period ended (Rs. in lacs.)

For year/ period ended ( in Cr.)

• Location Advantage.
• Diverse Revenue Streams.
• Customer Experience.
• Long-standing relationship.

• Repayment of borrowings.
• General corporate purposes.
• Funding Capital Expenditure

The Company operates in fragmented segment where lot of listed and local players are operating. The company, at price of INR 65, is expected to list at PE of 28. Considering its business and competition within industry, we maintain neutral stance in subscription