Oriental AGM Jul2024 2025 Transcript

MANAGEMENT

MR. PUNEET CHHATWAL – CHAIRMAN

MR. PRAMOD RANJAN – MANAGING DIRECTOR AND CEO

MS. GITA NAYYAR – INDEPENDENT DIRECTOR

MR. VIJAY SANKAR – INDEPENDENT DIRECTOR

MR. HARISH LAKSHMAN – INDEPENDENT DIRECTOR

MS. NINA CHATRATH – INDEPENDENT DIRECTOR

MR. MOIZ MIYAJIWALA – INDEPENDENT

MR. VIJAYAGOPAL REDDY – NON-EXECUTIVE DIRECTOR

MR. RAMESH HARIANI – NON-EXECUTIVE DIRECTOR

MR. ARVIND SINGH – INDEPENDENT DIRECTOR

MR. ANKUR DALWANI – NON-EXECUTIVE DIRECTOR

MR. PARAS PURI – CHIEF FINANCIAL OFFICER

MS. S. AKILA – COMPANY SECRETARY

S. Akila

Dear shareholders, good morning. This is Akila, Company Secretary. I am pleased to welcome you all to the 55th Annual General Meeting of Oriental

Hotels Limited held through video conferencing. Even though most of you are familiar with participation in the AGM through video conferencing, I would like to briefly take you through the protocols regarding the participation at this meeting. The facility of joining the AGM through video conferencing has been made available to members on first-come, first- served basis.

The live stream of this conference is broadcasted on the NSDL's website.

All members who have joined the meeting are by default placed on mute mode to avoid any disturbance arising out of background noise and to ensure smooth and seamless conduct of the meeting. Once the Q&A session starts, the Chairman will announce the name of the shareholders who have registered to speak one by one.

To start speaking, the shareholders are requested to click the video on button and wait till the video is on. If the shareholder is not able to join the video for any reason, the shareholder can speak through the audio mode. While speaking, we would request the speaker to use the earphones so that the voice is clearly audible and minimize any voice in the background.

Ensure that Wi-Fi is not connected to any other devices and no other background applications are running. Please also ensure that the camera is placed in front of your face and proper lighting is available to have a good video experience. We request all the shareholders to keep their

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July 24, 2025 comments brief, to avoid repetitive questions and limit their speech to three minutes each.

During the AGM, if a member faces any technical issue, he may contact the helpline number mentioned in the notice of AGM. In case any question remains unanswered, you may post your query at the investor relation email ID of the company. I would like to now briefly take you through the e-voting process.

The Company's Act 2013 and SEBI Listing Regulation provides for electronic voting. Accordingly, the company has provided its members a facility to cast their votes through remote e-voting system administered by NSDL. The remote e-voting period was opened from 21st July 2025, 9 a.m. to 23rd July 2025, 5 p.m.

For members who are attending this meeting and has not voted, the facility to vote through e-voting is available, which is active now. Members can visit the NSDL e-voting website and cast their votes and simultaneously attend the meeting. The facility for e-voting will also be made available for 15 minutes post this meeting. M/s Sandeep &

Associates have been appointed as scrutinizers to scrutinize the votes cast at the meeting and through remote e-voting.

Since the AGM is being held through video conference, the resolutions mentioned in the notice convening this AGM has already been put to vote through remote e-voting and there will be no proposing or seconding of resolutions. I now request the Chairman to take forward the proceedings of this meeting. Thank you.

Puneet Chhatwal

Good morning, ladies and gentlemen. I would like to welcome you all to the 55th AGM of the company. As the requisite quorum is present, I call the meeting to order. Before I proceed further, I would request all the

Directors who have joined today to introduce themselves. Mr. Pramod

Ranjan.

Pramod Ranjan

Good morning, shareholders. I am Pramod Ranjan, Managing Director and

CEO of Oriental Hotels Limited. I also serve as a Member of the

Stakeholders Relationship Committee and the CSR Committee at the

Board. Thank you.

Puneet Chhatwal

Ms. Gita Nayyar.

Gita Nayyar

Good morning, shareholders. I am Gita Nayyar, an Independent Director of the company. I am attending this meeting from London. I serve as the

Chair of the Audit and Risk Committee and I am also a member of the

Nomination and Remuneration Committee of the company.

Puneet Chhatwal

Mr. Vijay Sankar

Vijay Sankar

Good morning, shareholders. I am Vijay Sankar, an Independent Director on the Board of Oriental Hotels Limited. I am attending the meeting from

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July 24, 2025

Chennai. I serve as the Chairperson of the CSR Committee of the Board.

Thank you.

Puneet Chhatwal

Mr. Harish Lakshman.

Harish Lakshman

Good morning, shareholders. I am Harish Lakshman, an Independent

Director on the Board of Oriental Hotels Limited. I am attending this meeting from my office in Chennai. I serve as a member of the Audit

Committee of the Board. Thank you.

Puneet Chhatwal

Ms. Nina Chatrath.

Nina Chatrath

Good morning, shareholders. I am Nina Chatrath. I am an Independent

Director at Oriental Hotels Limited. I am attending the meeting from my residence office in New Delhi and I serve as the Chairperson of the

Stakeholder Relationship Committee. Thank you.

Puneet Chhatwal

Mr. Moiz Miyajiwala.

Moiz Miyajiwala

Good morning, shareholders. I am Moiz Miyajiwala, an Independent

Director on the Board of Oriental Hotels Limited. I am attending this meeting from my residence in Mumbai. I serve as the Chairperson of the

Nomination and Remuneration Committee, as a member of the Audit

Committee and Risk Management Committee of the Board. Thank you.

Puneet Chhatwal

Mr. Vijayagopal Reddy.

Vijayagopal Reddy

Good morning, shareholders. I am Vijayagopal Reddy, a Non-Executive

Director on the Board of OHL. I also serve as a member of the Stakeholders

Relationship Committee and CSR Committee. Thank you.

Puneet Chhatwal

Mr. Ramesh Hariani.

Ramesh Hariani

Good morning, shareholders. I am Ramesh Hariani, Non-Executive

Director on the Board of Oriental Hotels Limited. I am attending this meeting from my Mumbai office. Thank you.

Puneet Chhatwal

Mr. Arvind Singh.

Arvind Singh

Good morning, shareholders. I am Arvind Singh, Independent Director on the Board of Oriental Hotels Limited. I am attending this meeting from my residence office in New Delhi.

Puneet Chhatwal

Mr. Ankur Dalwani.

Ankur Dalwani

Good morning, shareholders. I am Ankur Dalwani, Non-Executive Director on the Board of Oriental Hotels. I am attending this meeting from my office in Mumbai. I serve as a member of the Audit Committee and Risk

Management Committee of the Board.

Puneet Chhatwal

Thank you all. All the Directors of the company are present at this meeting.

We also have Mr. Paras Puri, Chief Financial Officer, who is present in this

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Oriental Hotels Limited

July 24, 2025 meeting through video conference together with representatives of our

Statutory Auditor and Secretarial Auditor. I thank all the members today for joining this meeting. I hope all of you are in good health. And according to the Ministry of Corporate Affairs and SEBI Circulars, we are holding this

Annual General Meeting through video conference.

Live streaming of the meeting is also being webcast on NSDL's website.

The company has taken the requisite steps to enable members to participate and vote on the items being considered at this AGM. Your company has received 8 letters along with board resolutions from corporate shareholders appointing and authorizing representatives under

Section 113 of the Companies Act 2013 in respect of 6,98,33,790 equity shares representing 39.1% of the paid-up equity capital.

Since there is no physical attendance of the members, the requirement of appointing proxies is not applicable. The registers as required under the

Companies Act 2013 and the documents that are required to be kept open in terms of the resolutions provided in the AGM notice are open for inspection. Members who have not voted earlier through remote e-voting can cast their vote in the course of this meeting through e-voting facility.

Since the notice is already circulated to all the members, I take the notice convening the meeting as received and read. Since the statutory auditors have not made any observations, qualifications, disclaimers in the financials of the company, there is no need to read the audit report. Before

I turn to the shareholders who have registered for expressing their observations, comments, I would like to share a few thoughts with all of you.

Let me begin with a brief overview of the macroeconomic scenario. As you all know, the journey over the past few years has been eventful. The world continues to go through significant shifts. Post the pandemic, which resulted in supply chain shocks, there was an economic slowdown, especially in developed markets.

Despite this evolving global landscape marked by economic fluctuations and geopolitical tensions, your company has shown resilience and adaptability to the changing consumer trends and economic landscape. As per IMF, the baseline forecast for the world economy is to continue growing at 2.8% during 2025 and 3% during 2026. India continues to be a strong market with an economic growth rate of 6.5% in FY24-25.

The services sector in India grew at 8.3%, with the travel and hospitality industries growing well, supported by major events such as the

Mahakumb and international music concerts. Foreign tourist arrivals to

India were recorded at 9.6 million in 2024, as against 9.2 million in 2023.

Moving on to the performance and key highlights, the Taj brand has once again been rated as the world's strongest hotel brand and India's strongest brand across all sectors by Brand Finance. This year, the iconic Taj

Coromandel, Chennai celebrated its 50th year milestone, and Madurai and

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Coonoor hotels migrated under the reimagined Gateway brand. In financial year 24-25, the company recorded its highest ever revenues.

The company recorded a total revenue on a standalone basis of INR445 crores and a profit after tax of INR45 crores. With a focus on promoting environmental stewardship under IHCL's ESG Plus framework of Paathya,

OHL Hotels' renewable energy consumption stood at 61%. I would like to compliment the management team and all the stakeholders for their efforts in supporting the company for the performance and wish them the best of luck.

With those words, I would now like to invite speaker shareholders to express their key observations. Considering that many speaker shareholders have registered, I would sincerely request you to keep the points brief and not to repeat the point which has already been made by others who have spoken previously. With that, we move on to the first speaker, Mr. Arun Kumar Boppana. Mr. Arun Kumar Boppana.

Moderator

So, please accept the prompt on your screen and proceed with the question. So, please unmute yourself.

Puneet Chhatwal

Mr. Boppana, please unmute yourself. We can see you, but we can't hear you. Sorry, we cannot hear you. We will come back to you in a bit. Mr.

Yusuf yunus rangwala.

Yusuf Rangwala

Hello, can you hear me, sir?

Puneet Chhatwal

Yes, we can hear you, Mr. Rangwala.

Yusuf Rangwala

Sir, first of all, I would like to greet you. I am Yusuf Rangwala from Mumbai.

Sir, I am an old shareholder and I am regularly attending your meetings.

Oriental Hotels is a Taj group, sir. I don't have any questions about that.

Sir, there are two ladies on the Board. First, I welcome the two ladies directors on the Board.

Now, I will come on directly to the point. As you mentioned in the

Chairman's speech, sir, you printed a photo of Chennai. I would like to know how many Chennai hotels are there, sir? How many are in Chennai?

How many are in Coimbatore? How many hotels are in Ooty? And how many hotels are in Mysore, I would like to know? Because these are the places where we are getting a good -- and Coimbatore and Darjeeling and our surrounding areas in the South, sir.

How many new hotels will be opening in this coming year? And I am thankful to our Company Secretary Madam for giving me a link. And also, this is the 55th Annual General Meeting. Sir, after 3 years, we have completed 60 years. Sir, what is the celebration of 60 years, sir? Sir, for 60 years, for celebration, keep a small get together, sir. If possible, keep a small get together in Mumbai, sir. Sir, for 60 years, after 3 years, we have completed 60 years. Sir, what is your plan in the 60 years? Whether you will give us a bonus, whether you will give us some good returns, sir?

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Puneet sir, your face is always smiling like a bird. And you keep giving us such good returns, sir. What to say, sir? Because we are a group of Taj companies, sir. I don't want to ask anything. I just wanted to meet you. My heart's desire remained in my heart. But what to do, sir? You live in such a long distance. You live in Chennai, we live in Mumbai, sir. But this distance, this mobile brought us very close. Sir, always keep this video conference, sir. I am supporting this video conference. If you keep it physical, sir, we will not be able to connect with you. Sir, my humble request is to keep the video conference continuous, sir. Thank you very much.

The fragrance of those people outside the buds and with our Oriental

Hotels. Always stay, sir. I wish you all good luck. And my full support today for the resolution. And I voted in your favor. And sir, I wish you a Happy

15th August. I wish you all a Happy Diwali, sir. You keep laughing, keep smiling. And like the rain, you give us dividends and also good returns.

And madam has made her balance sheet of 300 pages; very colorful, very knowledgeable. You have made a whole picture in this, sir. What to say, sir? Sir, in one balance sheet, she has made the Taj Group, sir. Thank you very much, sir. Jai Hind, Jai Maharashtra. Sir, my video is not working, sir.

Jai Hind, Jai Maharashtra, sir. Vande Mataram.

Puneet Chhatwal

Thank you. Mr. Bharat Raj.

Bharat Raj

Very good morning, Mr. Chairman and entire Board of Directors. I am

Bharat Raj, I am from Guntur. First of all, I thank my Secretary department for sending me the wonderful annual report. And I congratulate the entire

Board for the wonderful performance and the profit making, sir. This financial year you have done a wonderful profit making and you have given the dividend.

Sir, can you expect the same EBITDA in this financial year, please let me know? Sir, what is your future plans for the next five years, sir? Any expansion of the rooms? Any plan for you, sir, please let me know? Sir, regarding this Colombo and other part of Maldives, any other new hotels you are going to start, please let me know. To set up a new hotel, what will be the cost of the room, sir? Luxury hotel, what is the cost of the room?

Chairman, sir, I thank you, sir, for your generosity for the shareholders giving coupons, discount coupon and K coupon. I expect that please continue that your love and affection to the shareholders. Send us the K coupon and discount coupon like last year and I support all the resolutions.

Mr. Chairman and best wishes to you and the leadership of my company is growing very wonderfully. I support you for all the resolutions. Thank you very much for giving this opportunity. And once again, my best wishes to you, sir. Take care. God bless you all. Thank you.

Puneet Chhatwal

Ms. Elija Devi. Next speaker, Ms. Elija Devi.

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Moderator

Sir, Elija Devi is along with Bharat Raj.

Puneet Chhatwal

Okay. Let me move to the next speaker. Number five, Mr. Bimal Kumar

Agarwal.

Moderator

Can we take Arun first?

Puneet Chhatwal

Yes, Mr. Arun Kumar Boppana, if you are ready now. Mr. Boppana?

Arun Kumar

Boppana

Yeah, I changed the gadget. Good morning to everybody. Puneet, Guten

Morgen. Growth under you has been very fast and our hotels have grown very vast also. I thank the CS and the entire team for the well curated, visually rich annual report, which we are very proud. In memory of Ratan

Tata, on October 9, '24, the heaven opened up, even the Gods came down in reverence to take Ratan Tata home. The moment was recognition far greater than the Bharat Ratna.

The Indian hospital sector is gathering momentum, powered by Oriental

Hotels in Chennai, Coimbatore, Mangalore, Kochi, Madurai, Coonoor to capture both business and travelers. The full renovation of Taj Malabar,

Cochin is a milestone. It will be a premium offering in Kerala's vibrant tourism.

Questions with Ayurveda gaining global traction and Oriental scale J

Wellness as a standalone global brand for holistic retreats?

Slow travel. So what is slow travel? Are you exploring slow travel? Because it is subtle of doing nothing for Gen X and Millenniums. And capsule hotels, is there any traction, any focus on that? What is the capex for scale development and bringing employment in gaps? What are investment IoT, guest center grid, digital tools is timely and strategic, which marks a leap towards hyper-facilitation and operational agility.

In conclusion, prosperity is not a transaction, it is a transformation. I wish to commend the Oriental team for unwavering commitment to responsible tourism. Thank you very much, sir. I'm sorry that the sound didn't work on the other gadget. This is a problem with digital and technicality. Thank you very much.

Puneet Chhatwal

Thank you. We move on to the next speaker, Mr. Bimal Kumar Agarwal.

Bimal Kumar

Agarwal

Thank you, sir. This is Bimal Kumar Agarwal speaking. Good morning to everyone. Good afternoon, good evening and good night to other shareholders who have joined us from different parts of the world. Many people might have joined also, I know, because of the video conference.

And please continue with the video conference.

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Sir, you have given a beautiful picture about our hotels. I got one or two questions to ask. What is the AI technology we use in the hotel industry?

If you don't mind, what is the cost of the annual report and posting single copy? That I want to know because I have opted out of this. And thank you for giving me, allowing me to speak. And I also thank the Company

Secretary's team, management, staff and the shareholders also. That's all from me. Thank you very much.

And one minute, Sonia also would like to talk. She has just requested me to say thanks to the management committee and its team also. That's all from Sonia also. Thank you very much.

Puneet Chhatwal

Thank you. Mr. Aloysius Peter Mascarenhas.

Aloysius

Mascarenhas

Respected Chairman sir, very distinguished members of the Board and my fellow shareholders. Good morning to you all. My name is Aloysius

Mascarenhas. I'm a proud shareholder of this prestigious company, hotel, which has rewarded us year-after-year, even with a small dividend, but which has already given us dividend. So I'm happy to be a proud shareholder of this company.

Even this year also, though our PBT and PAT has gone up, but compared to last year, it is not there. But still you have declared a good dividend. We are in a hotel industry which is very competitive. So I would like to know who are our peers and competitors and our market share. Why don't we follow our Taj company with Ginger Hotels, budget hotels? So this is my humble suggestion.

And I would like to know whether we have any branches abroad. If so, please let me know. Since many questions have been asked by my predecessor shareholders, and subsequently many will be asking after me, so I throw the floor open to them and end my speech wishing you personally, all the Board members, and more importantly, all the employees, all the very best in the days and years to come. With this, sir, thank you very much. Have a festive season. Good luck and good health.

Now my wife, Mrs. Mascarenhas, will speak.

Mascarenhas

Hello, sir. Can I speak?

Puneet Chhatwal

Yes, Mrs. Mascarenhas, please.

Mascarenhas

Yeah. Thank you so much. Respected Chairman, sir, Mr. Puneet Chattwal,

MD, Pramod Ranjan, other members of the board, my dear fellow shareholders, I'm Mrs. C.E. Mascarenhas speaking from Mumbai. First of all, I thank the company's secretary S. Akila and her team for sending me an Annual Report, also registering me as a speaker at my request and giving me this beautiful platform to speak. Thank you very much.

Now, Annual Report is full of information, facts, figures, and very good pictures of the hotels, of the various seven hotels. And at the same time,

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July 24, 2025 self-explanatory, adhering to all the norms of corporate governance. In my analysis, I find working is good, gross revenues are up, equity PBT, PAT is slight, but even then, 50% dividend, that is INR0.50 per equity share of

INR1, and also very good market capitalization.

Congratulations for all the awards and accolades received during the year and also appreciate very good CSR work done all in the Annual Report.

Now, my queries, we have seven hotels like Taj, Coromandel, Chennai,

Vivanta, Taj Malabar Resort, Taj Fisherman, and Mangalore, and Gateway,

Coonoor, and Madurai, and all. I would like to know among these seven, which is having the highest occupancy ratio with very good room rate and very good margins.

We are subsidiaries, how are they faring? Do we get any good revenue from it? How much capex required for organic and inorganic growth for further acquisitions? Lastly, but not the least, future roadmap for the next five years, which vertical will be the growth engine with good margins in the future? I support all the resolutions. I wish my company all the best and especially the entire team of Oriental.

I wish you all a very good health as it is health is wealth and very good festive seasons which are shortly in the offing. With this, thank you so much. God bless you and us and Namaskar.

Puneet Chhatwal

Mr. Vinod Agarwal.

Vinod Agarwal

Yes, respected chairman, Mr. Puneet Chhatwal, MD and CEO, Pramod

Ranjan, CFO, Paras Puri, and Company Secretary, S. Akila. Respect and good morning and regards to everyone present for the AGM.

At the outset, my deepest heartfelt condolences on the passing away of

Padma Vibhushan, Mr. Ratan Tata, who was the doing a ethical and fair business practices under his guard The Tata Group grew manifold. Sir, I have sent my email already with the observations and queries to the company already, but my basic queries, I will repeat, I am not repeating the financial parts which were sent in the email, because they are there in the Annual Reports.

My queries were, we have seven properties with 825 keys, of which, let say of the seven some are Resorts and SPA. Does our company have shared vacation membership plans for the holiday SPAs and Resorts that many other holiday resort companies have? Shared vacation system for the Resorts and SPAs. Does our company have anything of that kind?

Last year, we refurbished a Kochi hotel. It became operational again during the year, after about 2 years, and a large capital expenditure. As Hotel and

Resorts need continues upgrade and renovations. Is any of our other properties likely to go in for renovation in the next 2 years? This query is due to the closure of periods and large capital that would be required for any renovation that may be required for the other six properties which we

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July 24, 2025 own, and the subsidiary also owns certain properties in Maldives and

Lanka. Our company has targeted 2x the present revenue by 2030.

To achieve that target, are we likely to add more Greenfield properties on our balance sheet, or are we likely to acquire some third-party property to achieve those 2x revenues for this hotel? Taj and IHCL may do it, but for

OHCL, are we likely to acquire any Greenfield or third-party property acquisitions within this hotel company?

I have written and I congratulated the hotel for receiving various awards like Madurai Gateway and Heritage Award from Tamil Nadu Government.

My wife has also registered for a speaker. Just one second.

Meena Agarwal

My name is Meena Agarwal, DP Identity IN 303116 10745291. I wish our company all the best for the future. Thank you.

Puneet Chhatwal

Mr. Gautam Tiwari.

Gautam Tiwari

Yes sir. Sir you can listen me sir?

Puneet Chhatwal

We can hear you Mr. Tiwari

Gautam Tiwari

And I think you can see me also.

Puneet Chhatwal

Not yet, but, yes.

Gautam Tiwari

So nice to see you sir, very heel and hearty and fit and fine. Maybe we are meeting virtually, but once we see you. We always meet you in Indian hotel meetings. Also so many years you have been meeting and I have been a shareholder of all Tata Group companies including these hotels also since day one from my daddy-mummy's time.

Very good morning. Compliments, words are not enough to express my gratitude and compliments to you for the type of rewards that you have given to shareholders each and every year by giving wonderful performance along with your MD and CEO, Pramod Ranjan, Mr. Paras Puri and even Akilaji, one of the best in the industry as CS and all my dignified

– other all dignified eminent directors and my fellow shareholders. Myself

Gautam Tiwari. I am speaking from Mumbai.

Dear sir, I thank you for paying the dividend of INR0.50 although sir but you had kept us on dividend paying list this is very important. And we thank you very much for this. Investors as far as concerned of the

Secretarial Department led by a very humble, soft-spoken, polite, cordial, harmonious and helpful our CS, Akilaji is exceptionally outstanding and praiseworthy.

She certainly ranks among the top 50 not only national level but at a global level, the way she is conducting our secretarial relationship with all shareholders and all the time sir, never it has happened that our queries have remained unanswered or our issues remain unsolved.

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Sir, our balance sheet even I got a balance sheet which is very well designed, very informative it is robust, strong balance sheet and transparent adhering to all norms of corporate governance. I wish to compliment you for all awards, recognitions and accolades year-after-year at national and international level.

And also would like to compliment you for your best of the CSR activities.

I would like to take a moment to express my compliments in the field of women empowerment, education, civil development and sustainable energy initiatives that you have done.

Very few things, asking a question to you is like showing a torch to sky. But in order to satisfy my anxieties I would like to ask Sir, out of our seven types of hotels which one is earning maximum revenue and maximum profits as of now? Sir, what is our company's strategy for improving occupancy ratio especially during the dull season and what is our average occupancy rate as it goes at present and which hotel has maximum occupancy ratio and what is the highest revenue earned by this particular type of hotel?

Sir, how many hotels do we intend to launch during financial year '25-'26 that is this running year? And Sir, promoter's holding is 68% if I am wrong please correct me. So, would you like to meet promoters like to increase their holdings now and what are the company's plans for promotions and acquisitions now this time?

Sir, upon our borrowings how much interest we are paying we would like to know and when can we become debt free? And Sir, how many rooms of our hotel have rooftop solar projections? Sir, there are many things but these are the few ones which I really wanted to know and I am very sure in the days to come you will keep on rewarding shareholders.

We are proud of being shareholders of Taj, wherever I am in India or abroad I always would like to stay in Taj and I am very happy to be in Taj and when I converse with other passengers other people who stay there they are very happy and in the register you will always find not a single complaint about anywhere and all praise, praise whether it is at national level or international level, which gives us the best of suggestion and best of the reward as it is.

Sir, as it is I support all resolutions and voted favorably for all of them I also support appointments/reappointments of all directors on board and sir, everybody RTA moderator technical team, NSDL everybody's service is ready for which I thank the management for giving excellent service. Sir, we have got unwavering trust, confidence in the management and our life time support will always continue.

Sir at the end I would like to say only one thing, which is very important sir, that is the fragrance of flowers the spring of buds the weather, God

Almighty gives success to all of you again and again continuously you all stay fit and next year every day. I am here with you always, all the time

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July 24, 2025 throughout our life even after our life we will always be with you supporting you Thank you very much

Puneet Chhatwal

Mr. Manoj Kumar Gupta.

Manoj Kumar Gupta

Yes, respected Chairman Board of Directors fellow shareholders, my name is Manoj Kumar Gupta. I have joined this meeting from the City of Joy,

Kolkata. I feel proud to be a shareholder of Oriental Hotels. I strongly support all the resolutions and I believe that company will more growth and future income. I pay my tribute to Mr. Ratan Tata and we should follow his legacy in future also. Sir, thank you.

Puneet Chhatwal

Yes. Thank you, Mr. Gupta. We move to the next Mr. Reddeppa. Yes, good afternoon,

Moderator

Sir, Mr. Mr. Reddeppa Gundluru and Ms. Gundluru Prabhavathamma has not joined the meeting. Shall we proceed with the next speaker shareholder?

Puneet Chhatwal

Mr. Praful Chavda.

Praful Chavda

Yes, Chairman sir Mr. Puneet Chhatwal ji. Namaskar to you. I say in every company that Mr. Puneet Chhatwal, wherever he is the chairman or the director of the company, you should take the shares of that company, you will get the benefit. Sir First the new appointment of Mr. Arvind Singh who got the appointment on 1st July, I welcome him and by coming to our company our company will get a good return and will get a lot of help. So

I wish him good luck.

Sir page number 2 or 3, where we are with the photograph of 7 hotels you have given details. So I thank the company secretary department that the resume report you have made is well made and the way you have given the details is good Along with this on page number 4, your joint venture and associated company hotel, you have given photograph very good.

Mr. Puneet Chhatwal and MD CEO and in the leadership of Pramod Ranjan in the leadership of the company, employees, other directors who work together, so our company in the last 45 years, only 5 years you have not given dividend but continuous 1978-80, from 1980 we have given dividend, it is a very good company, I say. Sir in the final statement statement

Sir in page number 128, that has been said that you have taken quoted shares that you purchased, they were INR5 crore 90 lakh and the mute value is INR65 crore. Most of the companies do not share this. We have to total that. They tell about the share that is purchased but how much benefit did we get. If the secretarial department shared that we would be happy. The company's CSR is doing a good job, keep it up.

Sir, how many Indians and foreigners are coming to your hotel, if you have a percentage. How many foreigners are interested, entering and availing

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July 24, 2025 our service? I am very happy with all the work done by the company.

Thank you, sir.

Puneet Chhatwal

Thank you. Ms. Jayshree Chavda.

Jayshree Chavda

Thank you. Good morning to everyone. First and foremost, I truly appreciate the thoughtful gesture of dedicating the first two pages to the legends who have shaped the company and have shown India itself the way they had great visions. We will deeply miss them and their legacy will be continued and inspired for the generations.

Majorly for the hotel businesses, we see the major concern is the losses what we see, is the food wastage. Do we have any systems to measure the food wastage in our hotel? Are we implementing any food waste composites or biodegradable or part with any NGOs for donations? Are we doing any such practices to get use of our food wastage. And do we have any AI system base to use to measure our inventory, perishable stocks or to prevent the spoilage.

Secondly, I want to know what if our companies are taking measures to promote women employment, what is the participation of women employment increased throughout the years, compared to last years and what is the gender ratio as of now in our company. And do company have any special placement program or do support any initiatives especially for the mothers returning to the work after a career break?

And the last one in our hotel business as I see, as a parent I understand how traveling with the babies can sometimes be overwhelming and I was wondering do our resort, especially those located on the holiday destinations offer any daycare or a child friendly support services to help the parents unwind and enjoy a few relaxed hours during their stay and the break. If we don't have that services, I think we should truly think about starting the work. Thank you, that's from me, thanks.

Puneet Chhatwal

Mr. Amit Kumar Chandani. We will move to the next speaker then, Mr.

Santosh Kumar Saraf.

Santosh Kumar

Saraf

Respected chairman, Board of Directors, present employees and shareholders, Yes, I am Santosh Kumar Saraf from Kolkata, I hope you all are in good health. Sir, you have given a very good balance sheet. So, it's not personal, I just want to thank all the employees to do a good job. And sir, please keep this meeting which will be good in the future. Thank you.

And sir, wait for a minute, I have in front of me 3 speakers with me, 16,

17, 18. So, please wait, the next speaker will speak to you.

Sanjog Saraf

Respected chairman and the esteemed board members, my name is

Sanjog Saraf. I am a beneficiary in the Santosh Kumar Saraf HUF folio. So, first of all I would want to thank you for the outstanding performances. I have already sent most of my questions earlier, but I just wanted to quickly ask a couple of questions.

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One is, sir, how are we, I mean, evolving our training plans for our staff and employees. Mainly to, I mean, focus on the customer reviews and enhanced customer experiences. And also, we have recently seen a rise in our trend of travel, like for example, leisure. I mean, we are in a lot of, I mean, economic business activities are extended with personal holidays.

So, how are we responding to those changes in the travel trends?

I would like to thank everyone for giving me time. Sir, also one of the next registered speaker is Mrs. Bharati Saraf, who is my mother. She is unfortunately not well today, so she cannot make it to the meeting. But she wanted to thank the entire board for the outstanding performances and also for the dividend that has been declared. Thank you.

Puneet Chhatwal

Thank you. We go to speaker number 19, Mr. Sunil Kumar Modak.

Sunil Kumar Modak

Good morning, Mr. Chairman Puneet Chhatwal, MD and CEO, Mr. Pramod

Ranjan and other, eminent directors. Myself, Sunil Modak, joining this VC meeting from my residence, Kolkata. I express my deep condolence for the sad demise of Mr. Ratan Tata. I thank the company secretary and entire secretarial team for sending the report and also helping in registering me as a speaker and enabling me to join this meeting by providing joining.

Sir, our company's performance is very good. Highest ever revenue we earned this year. But, sir, our profit seems to be lower. What is the reason?

Ours is the world's strongest hotel brand. Congratulations for the awards and accolades earned by our company. I congratulate our company management and the employees. What is our unclaimed dividend?

What amount of share is being transferred to IEPF? Before transferring this share, please intimate those who have gone to IEPF by writing. Sir, we have a number of employees, male and female. What amount of male and female can you please specify? CSR work is very good. What is our employment recruitment policy? If the person is having the hotel management background, how they get employed in your estimated hotel?

Sir, with this, and I have supported all the resolutions and casted my vote in favor. I hope that our company will do better in the coming years. With this, I conclude over to you. Thank you, sir. Thank you very much. Sir, keep this VC meeting so that people can join this meeting from abroad.

Puneet Chhatwal

Mr. Mihir Waghela .

Mihir Waghela

Chairman Sir, Directors, and fellow shareholders. I am Mihir Waghela from

Mumbai. I thank the company secretary for allowing me to speak. I would have preferred the company secretary giving speaker number so that I can know exactly when my name will be called. Sir, page 13 of annual report, our profit is reducing. What are the reasons for reduction in profit and when can I expect the trend to reverse? Sir, how much is our ARR? Is it increasing or reducing? Any new hotels planned in our company? Thank you so much, sir. All the best for the future.

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Puneet Chhatwal

Mr. Ashok Chakravarthi. Mr. Ashok Chakravarthi. Move to the next speaker, please. Mr. Aspi Bhesania.

Aspi Bhesania

Chairman Sir, can you see me and hear me? Okay, okay. Chairman Sir, I am

S.P. from Bombay. Thanks for giving me an opportunity to speak. Sir, I congratulate the management for increasing the revenue. However, profit is going down for the last 3 years. Sir, page 55 of the annual report.

Revenue has increased from all our revenue streams, room income, food and beverageand still our profits are reducing for the last 3 years. What are the reasons of reduction? Even ARR has increased as per page 55.

Sir, last year we had 15,33,339 shares in IEPF. And current year it is

15,29,559. That means 3780 shares are less in IEPF. I appreciate the efforts put in by our company secretary. And the company secretary should work hard, so that no extra shares are transferred to IEPF, and that minimum possible shares are transferred.

Sir, coming to first quarter results, year-on-year results are good. But quarter-on-quarter they are not good. Q4 is not a festival season quarter.

Why Q4 was so high? In top line and bottom line compared to Q1 of the current year. Sir, thank you very much, and all the best for the future.

Puneet Chhatwal

Mr. Prakash Chand Galada. Mr. Prakash Chand Galada.

Prakash Chand

Galada

Hello. Namaskar. Good morning everybody. I am Prakash Chand Galada from Chennai. I suppose you are able to hear me and see me also.

Puneet Chhatwal

Yes.

Prakash Chand

Galada

We are holding shares of your company here in Oriental Hotel, as well as other hotels, apart from Indian Hotel, as well as in our Krishna Taj also. I have been a good patron of your hotel for a long time. But any big -- hello?

Puneet Chhatwal

Yes, please.

Prakash Chand

Galada

Okay. I have been removed from the video, doesn't matter. I can just speak. Okay. I will continue, right. So, now I would like to ask you to just inform us whether you are going to have an expansion in Kovalam. That is your fisherman cove hotel and resort. And coming to the point, what I was telling you is about vegetarians. See we are Jains as well as there are so many. Not only Jains, Hindus and so many other people are there. We lack one thing called vegetarian restaurant exclusively, along with vegetarian kitchen. If you implement a separate restaurant, it will be a good, new, I mean good comfort, as well as patronage of many this thing. And this I have put it in my mail also. So please respond if you can now or later.

And coming to the page 1, 2 and 3, I see Mr. Jamsetji Nusserwanji Tata's photo, as well as Mr. Ratan Tata's photo. They start with the first

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July 24, 2025 generation coming to second, third generation. In between J. R. D. Tata's face is also there . It is very good, maybe in one page itself like your director’s pictures are there in two pages. It can be implemented forever.

With all the Tata's who have been in the group companies are responsible for the forefathers of the Tata group. So that will be appreciable. Now in the same one, my wife will speak to you. Hansa Galada

Mrs. Hansa Galada

Good morning. I would like to congratulate you all. Please consider rights issue, and start a vegetarian kitchen and restaurant at Taj Coromandel.

Hello.

Puneet Chhatwal

Yes we can hear you. Please go ahead.

Mrs. Hansa Galada

Rest everything is fine, and your hospitality, sir. Thank you.

Puneet Chhatwal

Thank you. Ms. Divya Galada .

Moderator

She has not joined. Shall we move ahead with the next speaker shareholder?

Puneet Chhatwal

Ms. Sonaxi Saragi . Ms. Sonaxi Saragi.

Moderator

Ma'am, please unmute yourself.

Ms. Sonaxi Saragi

Yes. I did. Hello, everyone. Hello, respective Chairman and Board of

Directors and my fellow shareholders. I am Sonaxi Saragi , speaking from

Bangalore. Sir, thank you for all that has been done so far in the last 1 year.

It has been an amazing experience. I am a corporate worker. I am an HR

Manager and I do travel a lot.

I have a question,. Which is something that I have recently thought and felt. I travel a lot throughout the year and these travels are generally for business and these travels always extends from 3 to 5 days. So recently I came across, I did travel to Japan and came across a hotel which is a 4-star hotel, Kawasaki Metropolitan Japan. And that particular hotel had a very interesting thing when a corporate booking is done. So because we stay away from home, we are stressed out throughout our journey, stressed out throughout the working time that we spend there.

So there was a very -- and we do not have time to definitely go back and use the Spa or other facilities that are available in the hotel. But in the hotel rooms and when I went into Kawasaki hotel room I did see that there was massage chair that was kept in the room for only corporate booking, which definitely gave me a little bit of time that I had to spend in the room with relaxing myself and de-stressing myself.

Maybe sir, in the future any such initiatives can be looked through, thought through and executed, which will help the corporate workers who travel a lot and stay in your amazing hotel. That is all from my end. Thank you.

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Puneet Chhatwal

Thank you. Mr. Bharat Pratapsinh Negandhi. Mr. Bharat Pratapsinh

Negandhi. Move to the next speaker. Ms. Lata Bharat Negandhi .

Moderator

She has not joined the meeting. Shall we proceed with the next shareholder speaker? Sir, Bharat is here.

Puneet Chhatwal

Bharat is here, okay. Mr. Bharat Negandhi.

Moderator

Sir, he's not accepting our prompt. Shall we move ahead with the next?

Puneet Chhatwal

To Mr. J. Abhishek. Mr. J. Abhishek?

J. Abhishek

Sir, I think the moderator is -- okay, now it's connected. So, first of all, I congratulate the management on the eve of 55th Annual General Body

Meeting. Sir, trust all is well with you and your family. In this challenging situation, our company deserves much more respect than the current market cap. After completing more than a decade of successful operations, profitability and becoming one of the strongest brands in the respective segments.

But I would like to know, as of date, how many employees are there in the company? What are the steps being taken by the management to reduce the other expenses, legal professional charges and the audit fees? So then myself and my team are running a legal firm in the name and style of Seven

Wells Associates in Chennai. So I would request the management to kindly enroll the firm in the appointment of the company, and we will be glad to extend our services.

So then, the company has a very good corporate governance practice. I do appreciate the management for that. And the company is doing really well. We are really thankful to the entire Board of Directors for their sincere efforts in bringing the company to this particular extent and rewarding the minority shareholders in large numbers.

Sir, I would also like to know if you can provide a breakup for the miscellaneous expenses, because being in the hotel industry, I understand that there is a huge miscellaneous expenses which occur on a day-to-day basis. But if you can try to provide a breakup in the email, it will be helpful for the investor fraternity to know, sir. There's nothing much to ask, sir.

And I would also tell you that discount coupons being issued by the management were really helpful to the investor fraternity and we have used all the coupons.

So that is a very good contribution from the management and gesture towards the investor fraternity. So we are really thankful to the entire

Board of Directors for their sincere gesture towards the investor fraternity. So nothing much to ask, sir. I wish the company.

Sir, I would also request the management to kindly consider hybrid AGMs in the years to come, sir, because most of the senior citizens are not able to join because of the digital challenges in the virtual platform. If you can

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July 24, 2025 consider hybrid AGMs in the years to come, more number of shareholders can join you in the meeting.

You can get the valuable points and ideas that will be helpful for the management to empower in the coming future. So kindly consider hybrid, sir. And we also promised for a get-together, sir, in the 50th and 51st AGM, but it was not being done, sir. So you can kindly consider on that also.

Nothing much to ask. Thank you very much. Thank you for giving the opportunity. We hope to see you in the hybrid AGM next year. Thank you very much, sir.

Puneet Chhatwal

Ms. J. Archana.

J. Archana

Yeah. Respected Chairman, Board of Directors, Secretary and his teammates and my fellow shareholders, I congratulate the management on the eve of this AGM. I request the management to be cost effective wherever possible and also to issue bonus shares or reduce the face value to ₹ 5 which is long pending due. I request the management to consider the hospitality part of shareholders, especially the speaker shareholders. I thank the management for giving me the opportunity. Thank you. Thank you once again.

Puneet Chhatwal

Thank you. Mr. P. Jaichand.

P. Jaichand

Good morning, respected Chairman, Board of Directors, Secretary and his team, and my fellow shareholders. I congratulate the management on the eve of this AGM. I and my family members are proud shareholder of this esteemed company from the date of public issue. The management has put on great efforts and doing wonderful job.

The only grievance of the shareholder is expecting better dividend and appreciation of share price, because most of the shareholders, especially senior citizens, are dependent on this dividend, sir. The profits reducing is a matter of serious concern, sir. Please kindly look into the matter, sir.

The CSR activities is good, sir. I support the management. I have cast all the votes in favor, sir. Sir, what are the future plans? How are we going to withstand the tough competition? Sir, I also request the management to issue bonus share, sir. If not, the rights issue and make the shareholder happy, sir. I wish our company all success.

We'll touch sky heights. I request the management to consider the special dividend or the hospitality part to the shareholder, sir. Especially the speaker shareholders. The 50% discount coupon to the shareholder is wonderful gesture, sir. Keep it up. Thank you, sir.

Puneet Chhatwal

Thank you, Ms. P. Shyam Sundari.

Let's move to the next speaker, Ms. Arthi J. Ms. Arthi J.

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July 24, 2025

Arthi J

Good afternoon, respected Chairman, Board of Directors and my fellow shareholders. I congratulate the entire management on this AGM. I'm a proud shareholder of this esteemed company. The management is doing an excellent job and the number speaks about the performance.

So, like earlier, we used to get the hybrid meetings and all the shareholders were complimented. So, we are thankful for the discount coupon issued to the shareholders which have been utilized. And words will fall short in praising the management's performance. I request the management to consider giving special dividends to the shareholders, especially to the speaker shareholders. I wish the management great success and I thank the management for giving me this opportunity. Thank you so much, sir.

Puneet Chhatwal

Mr. P. Gopal. Mr. P. Gopal and Ms. Vandana.

P. Gopal

Our company’s 55th AGM. My regards to the entire Board of Directors.

We believe that in the coming time the company will progress a lot and our shares will also rise a lot. And in the coming time the company will also try for bonus and the shareholders will get maximum dividend, sir, we believe this.

The company is doing very well, sir. Post Corona pandemic, tourism has developed even more and the shares of the entire hotel industry have increased 2 times to 3 times and our company is also progressing a lot, sir.

Sir, in the coming time please try for bonus, sir. And try for special dividend, sir. And please pay some attention to the shareholders, and as I mentioned earlier, 30 speakers have already asked a lot of questions in the AGM, so I don't want to go through the same questions again.

Thanks to the Company and the Company Secretary for giving us a chance to join the meeting through this VC platform. Thank you, and in the coming time, try for hybrid or physical AGM, sir, with which most shareholders can join and you can also get a chance to meet them, sir. You get a chance only once a year. So, don't snatch that chance from the hands of the shareholder, sir.

So, in the coming time, SEBI and MCA have given permission. Many companies are doing hybrid and physical AGM in Mumbai, Pune and Delhi.

"In the near future, the company has the flexibility to decide the format of its meetings. It is entirely at the company's discretion to choose between physical, hybrid, or virtual modes. Thank you, sir.

Puneet Chhatwal

Mr. A.V. Manisundaram.

A.V. Manisundaram

Very happy to attend this meeting. 55th Oriental Hotel AGM is a very good one. And also, outstanding performance of our hotel business and we are proud about that. We are invested what we have in Oriental Hotel is very good and also you have done CSR activity very good. More dividends for the shareholders, sir. Return of profit, what is the thing you can consider?

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Any new hotel branch has been started and we are requesting bonus share, sir. 50% issuing discount coupon is very business tactics. Very happy, sir. And cover to cover, very good. And also, corporate governance is very good, sir. Next year, hybrid AGM. We are requesting, please consider what we have. We are requesting, please consider. Kindly, more dividends and who attend the meeting by means of shareholder, by video conference. Hospitality, consider, sir. Thank you. Thanks a lot, sir.

Puneet Chhatwal

Mr. Satish Shah.

Satish Shah

Mr. Chairman sir and all other directors. I am Satish Shah. You have explained very nicely about the company to your Chairman.

You have explained it very well. Sir, I want to ask, what is the company's turnover yearly? We are fully supportive. This was the best result. Thank you. Thank you.

Satish Shah

Hello. You have explained it very well. Sir, I want to ask, what is the company's turnover yearly? We are fully supportive. This was the best result. Thank you. Thank you.

Puneet Chhatwal

Ms. Lekha Shah.

Lekha Shah

Thank you, sir. Respected chairman, sir. Board of Directors. And my fellow members. Good afternoon. And regards to everyone. Myself, Lekha Shah from Mumbai. First of all, I would like to thank our company secretary,

Akila ma'am for giving me this opportunity. And small, smooth process where I am able to talk in front of you, all in AGM.

I found the AGM notice. And I am delighted to say, it's so beautiful. Full of colours, facts and figures in place. Chairman, sir, Your opening remarks were so insightful and comprehensive that you have already addressed everything I had in mind. May all your upcoming festivals be filled with joy and blessings, sir.

Ratan Tata sir was known for the simplicity, ethical business process, practices and welfare of all stakeholders. His legacy will continue to inspire of all generations. We all shareholders pay tribute to sir. Chairman, sir, I would like to thank all the person of the company for receiving awards and recognition in our plan during the year '24 and '25. And also, I am glad the company is doing very well in the field of CSR activities.

Chairman, sir, I hope the company will continue video conference meeting in future. So I strongly and wholeheartedly support all the resolutions for today's meeting. Thank you so much, sir.

Puneet Chhatwal

Thank you. We move to the next speaker. Mr. Narendra Kumar Ambalal.

So, let's move to the next speaker, Mr. S. Padmanabhan.

Moderator

Sir, he has not joined the meeting. Shall we proceed with the next speaker shareholder.

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July 24, 2025

Puneet Chhatwal

P. Vasantha is the next speaker.

Moderator

She is not there too.

Puneet Chhatwal

Okay. Mr. Rajesh Kewalram Chainani. Mr. Chainani? Shall we move to the next speaker then? Mr. Samir Matkar.

Samir Matkar

Hello. Yes. Good afternoon, everyone. Myself Samir Matkar shareholder of the said company. I would like to express my thoughts on company’s performance. I’m also thankful for giving me opportunity to speak in this

AGM. My question is can the management provide updates on the pipeline of new projects and expansion in the hospitality sector? I have supported all the resolutions and thank you for giving me the opportunity to speak in the meeting. Thank you, sir.

Puneet Chhatwal

Ms. Trupti Matkar.

Trupti Matkar

Good afternoon, sir. This is Trupti Matkar, shareholder of this company.

My question is, now how is the company addressing sustainability and environmental concerns in its operations? I hope a bright future for the company. Thank you.

Puneet Chhatwal

Ms. Sakshi Matkar.

Moderator

Sir, Sakshi has not joined the meeting. Shall we proceed with the next speaker, shareholder?

Puneet Chhatwal

Yes. Mr. Rathish.

Rathish

Dear Chairman, sir. Thanks for giving me an opportunity to speak at the

AGM. We stand united here in celebrating a year marked by excellence, brilliance, innovation and visionary leadership. Under the exemplary guidance of you, the company has not only delivered robust financial performance, but has also elevated its commitment to sustainability, community empowerment and customer-centric excellence.

Your strategic foresight has steered us through dynamic market conditions, unlocking new growth opportunities and positioning our brand at the forefront of industry transformation. We extend our deepest appreciation for your unwavering dedication and inspirational stewardship. Your leadership continues to shape our legacy that is both progressive and purpose-driven. Thank you, sir.

Puneet Chhatwal

Thank you. Thank you to all the speakers. I would now like to answer the questions you have raised. Let me begin with some of the common remarks and the common questions, starting firstly with the financial plans for the next 5 years.

In general, the guidance of the Board has been to keep reducing the debt, which has come down significantly in the last years, keep increasing the revenue, and also to start looking at other sources of revenue, whether they come from new projects or they come from some asset management

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July 24, 2025 initiatives like we have done by renovations of the property in Cochin, the

Taj Malabar, or the renovation of the banquet hall in Coromandel, and to add maybe similar kind of facilities in Fishcove.

The growth of the portfolio will be more focused going forward on temple tourism and as a few of the speakers suggested, which would possibly include Ginger brand going forward because it's ideal for the temple tourism circuit. On skill development, OHL's strategy is also aligned with that of Indian Hotels and we have committed to skill 100,000 people by

2030, and all the companies related to Indian Hotels will be making their share of contribution towards skill development.

On the next one, the fourth one was on competitors. Our competitors for this portfolio are typically the national domestic chains, which is whether it's the Oberoi Group or it's the Leela Group or the Lemon Tree Hotels or the ITC Hotels in places like Chennai. On gender diversity, it was raised strongly. We are very firm believers of gender diversity and promoting gender diversity. We have currently almost 23% of the workforce in the female staff.

On ESG Plus initiatives, I've already mentioned it's aligned with IHCL. It is the six Ps of Paathya, which we strongly are involved with. And on customer centricity was the next question raised regarding especially having family friendly initiatives or the daycare, all of our properties have daycare units, so that is definitely been a part of our strategy.

In terms of training for customer service to the changing customer needs, we give a lot of focus on training and development, both on the job or sending to hotel schools or working with them on a constant basis. Also your point around hybrid AGMs or shareholder coupons have been noted.

We'll comply with whatever the legal requirements are and keep working and acting on it accordingly.

Now moving on to the concrete questions of, let's say Mr. Bopanna, I start with him on slow travel or among Gen Z or millennials and baby boomers.

We have definitely noticed Mr. Bopanna shift towards slow travel and longer duration stays among this generation. And this reflects a desire for more meaningful immersive experiences and a slower pace of life.

And your comment on J Wellness Circle and Ayurveda has been well noted and J Wellness will head as a premium authentic Ayurveda retreat brand in coming days to emphasizing holistic well-being and natural healing.

You also raised the question on investments in IT personalization and guest-centric digital tools. We are part of key IT projects implemented such as new brand websites, reimagined CRM, that is your Customer

Relationship Management, enterprise data lakes for advanced analytics and new ERP implementation. We have deployed best available digital and emerging technologies to enhance our systems and processes to become more efficient and effective.

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July 24, 2025

And your final comment was raised on the capsule hotels gaining traction globally and if there were any plans to experiment with capsule or modular hotel formats. We are monitoring these formats as they appeal very much to the value conscious young travelers. However, I must say we don't have any immediate plans. We are continuously exploring different accommodation formats, but nothing on this segment at the moment.

Mr. Bimal Kumar Agarwal, the cost of virtual AGM and printing and handling charges of annual report is 10 lakhs. And as I just mentioned, we have deployed best available digital and emerging technologies to enhance our systems and processes when it comes to leveraging AI going forward.

There are other comments which were made by Mr. Aloysius Peter

Mascarenhas also related to a budget friendly non tourist places, ginger hotels, who the competitors are, I think I've answered that. In terms of having any branches abroad, that was a concrete question on Oriental

Hotels. Oriental Hotels is not having any international hotels directly in

OHL.

However, the company is having a stake in St. James Court in UK through its wholly owned subsidiary, OHL International HK Limited. Stakes in hotels

Taj Coral Reef and Taj Exotica in Maldives and Taj Samudra in Sri Lanka through its joint venture Tal Hotels and Resorts Limited. Taj Mendota in

Sri Lanka through its associate Lanka Island and Resorts Limited.

Ms. Celestina Elizabeth Mascarenhas, you have asked for the capex requirement. Typically, the routine capex is approximately 4% to 5% of the total revenue. That is what the industry standard and benchmark is. Then you also raised questions on subsidiaries, how they are faring and the revenue we get for it.

So, subsidiary performance is done quite well and we are getting dividends from our subsidiary every year. During the financial year, we have received

INR3.3 crores as dividend. Then you also raised the question of which hotel has highest occupancy and highest ratio with good rates and very good margins.

The leader in the pack has always been Taj Coromandel in terms of occupancy and in terms of rates, it has always been Taj Fisherman's Cove and that trend continues. You asked for a future roadmap again for next 5 years, which vertical will be the growth engine with good margins. I think we keep optimizing on all fronts and we have renovated a majority of our portfolio.

So, we expect almost all hotels to contribute and the one which will take under renovation, as many of you had asked in terms of capex, will be our property in Coimbatore. Mr. Praful Chawla, you addressed the question on what percentage of Indian and foreign residents. We could say broadly across different properties, a little less than 20% is foreign guests and a little more than marginally higher than 80% is the Indian guests.

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July 24, 2025

Mr. Gautam Tiwari, you also mentioned many points and how to improve occupancy in dull season. For that, we obviously use various promotions and various other levers and tools we have in terms of loyalty programs.

You also raised the question in detail about average occupancy rate and which hotel has highest occupancy ratio.

That is, as I mentioned just now, Taj Coromandel with 82% occupancy, average rate of INR10,583 and Taj Fisherman's Cove has, as I said, highest rate, which is INR16,390 at an occupancy of 70%.

You had also asked to raise the question of the cost of interest on borrowings of the company that ranges between 8.25% to 8.75%. Then you also raised how many rooms have solar on the rooftops or how many hotels. So presently across hotels, 61% of the energy used is from alternate sources such as wind and solar sources through public-private partnerships.

Further, moving on to Mr. Santosh Kumar Sarraf, those names that I am not taking as they are generic questions I answered already at the beginning under the 8 to 10 subheads that I had. On Mr. Santosh Kumar

Sarraf's plans on staff training to focus on customer experience, we put 8 man-days per annum of training for all our team members to enhance customer experience.

Then you also asked a question on rise in leisure travel and business holidays and how the company is responding to these trends. I think we are very excited about growth in leisure travel and business holidays and we are offering a lot of blended stay packages, flexible booking options, enhanced leisure amenities and local as well as regional experience.

Moving on to Mr. Modak, you had asked how many employees we have and how many males and females. So we have 790 males and 165 females staff, including differently abled. What is the reason for lower profit? Profit dropped due to reduction in non-operating income by INR11 crores and additional depreciation for Taj Malabar by INR7.5 crores and higher tax by

INR3 crores.

However, we expect the profits to increase going forward and you must have noticed that in the interim we have announced the Q1 results. In terms of what is our unclaimed dividend and what amount of share being transferred to IEPF, as on INR15,29,559 shares are lying in IEPF account and INR105.3 lakhs pertaining to unpaid dividend account has been transferred to IEPF account.

In terms of recruitment, we use possible sources of recruitment, whether it is hotel schools, referral of existing employees or any other sources that come to us with those recommendations. Mihir Waghela also asked about the ARR for the year, whether it is increasing or decreasing. I gave that trend already that the highest ARR was of Fishcove, Coromandel in particular at INR10,837 is the ARR and during 24-25, ARR is increasing at the moment and showing an increased trend.

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July 24, 2025

On your question on reduction on profit that I already answered as other speakers have also asked, Jayashree Chawla, what is the gender ratio which I already answered is 23% of the females we have and then very interestingly you asked a question on the food wastage in our hotels and if we are implementing any system to dispose these food wastages like parting it with any NGOs or biodegradable means.

So, food is being prepared based on house count and banquets guaranteed numbers. So, firstly the food wastage is minimized and of course we use all possible sources not to throw or waste food rather work with localized organizations to use whatever can be used in terms of avoiding wastage.

Then you asked for any special placement programs for mother returning to work after taking a career break. We have mandated second career options to all our hotels to hire women who have taken career break and

I already answered the question on daycare facilities. All our hotels have daycare facilities.

Then moving on to Mr. Prakash Chand Galada, is there any expansion planned for Fishcove and Spa? This also I answered in terms of there is no real expansion in terms of number of rooms but we think fish cove lacks a large banquet hall and we are looking into those options and we have definitely noted your point on having a Jain food or a vegetarian food restaurant as your Jains that point has been taken into account.

Mr. Aspi. Besania, you asked certain questions which have already been answered in terms of what I mentioned previously. Then J. Archana, management to be effective wherever possible and to issue bonus shares or reduce the face value. The face value is already INR1 per share so that we cannot do anything.

Mr. Jai Chand, your question on future plans and how are we going to work with the tough competition. We want the company to have strong fundamentals and a strong platform going forward. Our focus will continue to be on operating margins, free cash flows and a healthy balance sheet with healthy capital allocation as I mentioned that under the guidance of the Board, the management has worked and focused in bringing down the debt in the company.

Also, Mr. Gopal and Ms. Vandana had asked for physical AGM. This question comes up in various AGMs. Some prefer digital, some prefer phyital and some really want us to go back to physical. We have noted the recommendations and suggestions and we will act accordingly when we announce the AGM for the next year.

This was also raised by Mr. Mani Sundaram on the AGM. Also, Mr. Matkar, you had asked for any update on pipeline of new projects and expansions.

At the moment, we do not have any new projects because we have been focused on renovating the existing seven assets in the company.

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Oriental Hotels Limited

July 24, 2025

One is left, others are more or less done. But we will review, as I mentioned before, our temple tourism circuit with possible ginger properties so that it is affordable and a good family offering that we can have.

Again, there was a question from Ms. Trupti Madkar on sustainability and environmental concerns in its operations. So, your company adopts various initiatives for social and environmental well-being. Over the years, the company has been partnering with Green Power generating companies and purchases 61% of total electricity through renewable sources.

Very important is that these initiatives have resulted in avoiding 10,220 tons of CO2 emissions in the current year. Further waste from hotels are avoided from landfills through suitable waste management systems. More details of the environmental initiatives of the company are available on page numbers 10 and 11 of the annual report. With that, I have answered all the questions raised by our esteemed speakers.

With that, I also now authorize Ms. Akila, Company Secretary, to conduct the voting procedure and conclude the meeting. The e-voting facility will remain open for the next 15 minutes.

The results will be announced within the timeline stipulated under law, and the same would be intimated to the stock exchanges and uploaded on the website of the company and NSDL. I thank all the shareholders for attending the meeting and for their continued support and also all the positive remarks that have been made in today's AGM.

I also thank the Directors for joining the meeting today. I request all shareholders to please stay safe and stay healthy. With your permission,

I, along with other Board members, would leave the meeting. Thank you very much.

Akila

The e-voting has been kept open for 15 minutes, as mentioned by the

Chairman. We now close the e-voting. The requisite quorum was present throughout the meeting. Results of the annual general meeting will be announced by the company within the next two working days of the conclusion of this meeting and would be intimated to the stock exchanges and uploaded in the website of the company and NSDL. With this, I declare the meeting concluded. Thank you.

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