Key Metrics of Techpark Hotels Private Limited
About Techpark Hotels Private Limited
Sectors
Company details
- Registered office
- Block 2a & 2b,, Dlf Corporate Park, Dlf City Phase Iii, M.g. Road, Gurgaon, Haryana, Gurgaon, In-hr, 122002
Operational Areas of Techpark Hotels Private Limited
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
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Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
NoteRating watch (ICRA, 25 May 2026)
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 25 May 2026 | ICRA | Watch | — | — | Positive | — | View |
| 12 May 2016 | CARE | Assigned | — | — | — | ₹4,310 Cr | View |
| 14 Apr 2015 | CARE | Assigned | BBB | A3 | — | ₹163 Cr | View |
Credit strengths (ICRA, May 2026)
+ Benefits accruing from strong promoters with extensive experience in the hospitality industry; access to financial support
Incorporated in March 2010, THV is a joint venture ( JV) of the Accor Group and the InterGlobe Group.
+ Operational synergies through association with Accor in favourable locations
THV’s properties are operated under Accor’s deluxe Novotel (548 rooms) and Ibis (500 rooms) brands and benefit from access to its global distribution system (GDS), stron g loyalty programmes and corporate relationships, ensuring better rates and occupancies.
+ Healthy sequential growth in operating metrices
All properties under THV’s portfolio benefitted from steady demand over the past few years, with year-on-year (YoY) growth in occupancy levels and ARRs, resulting in higher revenue per available room (RevPAR).
Credit challenges
− Cyclical industry; revenues susceptible to general economic slowdown and exogenous shocks
Given the discretionary nature of spending, the Indian hospitality industry is susceptible to macroeconomic conditions, tourist movement and several exogenous factors, leading to inherent cyclicality.
− Debt coverage metrics remain at moderate levels; gradual improvement expected in the same
THV’s leverage metrics remain at moderate levels, reflected in total debt/OPBDITA of around 2.8 times as of March 31, 2026.
Could lead to an upgrade
A material improvement in operating performance leading to improvement in leverage and debt coverage metrics would be a trigger for a favourable rating movement. An improvement in the credit profile of its promoters (JV partners) could also favourably impact the ratings. The rating will be withdrawn post the completion of the ongoing merger process as the company will cease to exist as a separate legal entity.
Could lead to a downgrade
Negative pressure on the rating could arise if there is a material and sustained weakness in earnings, leading to a deterioration in the credit metrics. A specific credit metric that could lead to a rating downgrade includes DSCR being persistently lower than 1.5 times. A weakening in the credit profile of its promoters (JV partners) would also be a negative rating factor.
Agency-reported financials (ICRA, 25 May 2026)
| Metric | FY2024 | FY2025 | 9M FY2026 |
|---|---|---|---|
| Operating income | ₹208 Cr | ₹240 Cr | ₹201 Cr |
| PAT | ₹18.40 Cr | ₹13.90 Cr | ₹23.50 Cr |
| OPBDITA/OI | 35.8% | 37.8% | 36.8% |
| PAT/OI | 8.8% | 5.8% | 11.7% |
| Total outside liabilities/Tangible net worth (times) | 1.90× | 1.60× | 1.30× |
| Total debt/OPBDITA (times) | 5.10× | 3.70× | 2.90× |
| Interest coverage (times) | 2.00× | 2.50× | 3.40× |
| Revenue growth (YoY) | — | 15.4% | — |
| EBITDA (margin × income) | ₹74.54 Cr | ₹90.80 Cr | ₹73.78 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹380 Cr | ₹336 Cr | ₹214 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹37.27 Cr | ₹36.32 Cr | ₹21.70 Cr |
Borrowings & rated debt
Rated limits over time
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| In case of partnership/proprietary concerns, the by CARE is based on the capital deployed by the partners/proprietor the financial strength of the firm at prese | Other | ₹400 Cr | ₹22.0 Cr | −94.5% | — | Assigned | CARE |
| Tel: +91-22-6754 | Fax: +91-22-6754 | E-mail: care careratings.com AHMEDABAD Mr. Mehul Pandya JAIPUR Titanium, Prahaladnagar Corporate Road, Mr. Nikhil Soni Sat | Other | ₹15.0 Cr | ₹304 Cr | 1,926.7% | — | Other | CARE |
| Cell: +91-98242 Madho Singh Road, Near Collectorate Circle, Tel: +91-79-4026 Bani Park, Jaipur 016. | Other | — | ₹302 Cr | — | — | Other | CARE |
| E-mail: mehul.pandya careratings.com Cell: +91 – Tel: +91-141-402 BENGALURU E-mail: nikhil.soni careratings.com Mr. Deepak Prajapati Unit No. 1101-1102, 11th Fl | Other | — | ₹560 Cr | — | — | Other | CARE |
| Cell: +91-9099028864 3rd Floor, Prasad Chambers, (Shagun Mall Bldg.) Tel: +91-80-4115 10A, Shakespeare Sarani, Kolkata 071. | Other | — | ₹700 Cr | — | — | Other | CARE |
| E-mail: deepak.prajapati careratings.com Cell: +91-98319 Tel: +91-33-CHANDIGARH E-mail: priti.agarwal careratings.com Mr. Sajan Goyal 2nd Floor, S.C.O. 196-197, | Other | — | ₹160 Cr | — | — | Other | CARE |
| Cell: +91 13th Floor, E-1 Block, Videocon Tower, Tel: +91-172-5171 Jhandewalan Extension, New Delhi 055. | Other | — | ₹110 Cr | — | — | Other | CARE |
| Email: sajan.goyal careratings.com Cell: +91-98117 Tel: +91-11-4533 CHENNAI E-mail: swati.agrawal careratings.com Mr. V Pradeep Kumar Unit No. O-509/C, Spencer | Other | — | ₹600 Cr | — | — | Other | CARE |
| Cell: +91 9th Floor, Pride Kumar Senate, Tel: +91-44-2849 Plot No. Bhamburda, Senapati Bapat Road, Email: pradeep.kumar careratings.com Shivaji Nagar, Pune 015. | Other | — | ₹411 Cr | — | — | Other | CARE |
| Cell: +91-98361 COIMBATORE Tel: +91-20-Mr. V Pradeep Kumar E-mail: pratim.banerjee careratings.com T-3, 3rd Floor, Manchester Square Puliakulam Road, Coimbatore | Other | — | ₹641 Cr | — | — | Other | CARE |
| Email: pradeep.kumar careratings.com HYDERABAD Mr. Ramesh Bob Ashoka Scintilla, 3-6-502, Himayat Nagar, Hyderabad 029. | Other | — | ₹500 Cr | — | — | Other | CARE |
Credit assessment · Hotels
Rating Methodology – Hotel Industry (Feb 2025) · Standalone accounts · FY 2024-25
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 72% |
| Information on file | 33% · missing: Audited financial statements (last 18 months), Annual results history (3+ years), Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 72% chance the next rating action is stable or better
- Interest coverage 3.4×
Rated limits by facility
Timeline
From the report
Liquidity position: Strong THV’s liquidity is expected to remain Strong, aided by expectation of healthy cash flows from operations (Rs. 45-55 crore/annum) and healthy cash and liquid investments (Rs. 117 crore as of December 2025).
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Techpark Hotels Private Limited
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 Indian Hotels Company (Taj) |
Hotels & Resorts · Restaurants, Hotels & Travel | ihcltata.com | — | India |
 ITC Hotels |
Hotels & Resorts · Restaurants, Hotels & Travel | itchotels.com | 1975 | Kolkata, India |
| Hotels & Resorts · Restaurants, Hotels & Travel | oberoihotels.com | — | India | |
| Chalet Hotels Limited | · Trading | — | — | Mumbai, Maharashtra, India |
 Leela Palaces Hotels & Resorts Limited |
Hotels & Resorts · Trading | theleela.com | — | New Delhi, Delhi, India |
 Lemon Tree Hotels Limited |
Hotels & Resorts · Restaurants, Hotels & Travel | lemontreehotels.com | 2002 | Gurgaon, Haryana, India |
| Samhi Hotels Limited | · Trading | — | — | Delhi, India |
| Apeejay Surrendra Park Hotels Limited | · Community, personal and Social Services | — | — | Kolkata, West Bengal, India |
| Taj GVK Hotels And Resorts Limited | · Electricity, Gas and Water companies | — | — | Hyderabad, Telangana, India |
| Hotels & Resorts · Restaurants, Hotels & Travel | royalorchidhotels.com | — | Bangalore, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.