Ventive Hospitality Ltd is India’s largest luxury-focused hospitality platform, operating premium hotels and resorts under global brands like Marriott, Hilton, Minor Hotels, and Atmosphere. Formerly known as Lemon Tree Hotels Ltd, the company rebranded to Ventive Hospitality in 2024 to reflect its strategic pivot toward asset-heavy luxury hospitality with strong annuity income from commercial and retail leasing. With a dominant promoter holding (89%) and aggressive expansion plans funded by its recent ₹16,000 Cr IPO, Ventive is positioning itself as a long-term play on India’s tourism and business travel boom. However, current financials show low profitability, high debt, and minimal returns, warranting cautious optimism. This article provides a fact-based outlook and realistic share price targets for each year from 2026 to 2030.
Business: Owns, develops, and manages luxury & business hotels, resorts, and mixed-use assets across India
Brands: Operates under Marriott (JW Marriott, Sheraton), Hilton, and others via management contracts
Geography: Presence in Delhi NCR, Goa, Jaipur, Udaipur, Bengaluru, and key leisure/business destinations
Ownership: 88.98% held by promoters – controlled by Patu Keswani (Chairman & MD)
Listed: Yes – on BSE (544207) and NSE (VENTIVE)
Clarifications:
Is Ventive IPO good? The IPO (Oct 2024) raised ₹16,000 Cr at ₹755/share—India’s largest hotel IPO. It funds capex but comes with execution risk. Not ideal for short-term investors.
Who owns Ventive?Patu Keswani and family (via promoter entities) hold 88.98%.
Valuation? Market cap of ₹18,196 Cr, trading at P/E of 84x and P/B of 3.9x—rich for current ROE of just 5.5%.
Listed on?NSE and BSE since October 2024.
Ventive Hospitality: Key Financial Snapshot (as of Jan 2026)
Metric
Value
Market Capitalization
₹18,196.39 Cr
Current Share Price
₹779
52-Week High / Low
₹845 / ₹523
P/E (TTM)
83.98
P/B (TTM)
3.91
Book Value (TTM)
₹199.39
EPS (TTM)
₹9.28
ROE
5.53%
ROCE
10.12%
Dividend Yield
0%
Debt
₹845.58 Cr
Cash Reserves
₹60.82 Cr
Sales Growth (YoY)
17.47%
Profit Growth (YoY)
–19.61%
Shareholding Pattern
Category
Holding (%)
Promoters
88.98%
Domestic Institutions (DII)
5.22%
Public (Retail)
4.24%
Foreign Institutions (FII)
1.56%
Others
0%
Note: Extremely high promoter control ensures strategic alignment but limits public float liquidity.
Ventive Share Price Target Forecast (2026–2030)
Given the very high P/E (84x), declining profits, and low ROE (5.5%), upside is highly speculative and hinges on flawless execution of its ₹16,000 Cr capex plan. Targets assume:
EPS CAGR of 20–22% (from current ₹9.28)
P/E compression from 84x to 40–45x by 2030
Debt stabilization post-capex cycle
Year
Target Price Range (₹)
2026
₹810 – ₹890
2027
₹860 – ₹960
2028
₹910 – ₹1,040
2029
₹960 – ₹1,130
2030
₹1,010 – ₹1,220
⚠️ Important: Even at ₹1,220 in 2030, P/E would be ~45x if EPS grows at 22% CAGR—still premium for a capital-intensive hospitality business with modest returns.
Year-wise Breakdown
Ventive Share Price Target 2026
Year
Target 1
Target 2
2026
₹810
₹890
Rationale: Near-term upside is limited by profit contraction and high valuation. Q3 FY26 results showed strong revenue but margin pressure from new property ramp-ups.
Ventive Share Price Target 2027
Year
Target 1
Target 2
2027
₹860
₹960
Rationale: Expected benefit from new hotel openings (10+ properties by 2027) and occupancy recovery in leisure travel.
Ventive Share Price Target 2028
Year
Target 1
Target 2
2028
₹910
₹1,040
Rationale: By 2028, stabilized operations could improve EBITDA margins. Annuity income from retail/commercial leasing may boost cash flow.
Ventive Share Price Target 2029
Year
Target 1
Target 2
2029
₹960
₹1,130
Rationale: Long-term play on India’s tourism growth (150+ million domestic trips/year). Success depends on brand execution and RevPAR growth.
Ventive Share Price Target 2030
Year
Target 1
Target 2
2030
₹1,010
₹1,220
Rationale: The upper end assumes ROE >10%, debt/EBITDA <3x, and market leadership in luxury hospitality. Still, valuation remains stretched.
Strengths vs Risks
✅ Strengths
Market leader in luxury hospitality with global brand partnerships
Strong promoter vision and long-term commitment
An asset-heavy model provides an inflation hedge and collateral value
Beneficiary of India’s tourism and MICE (Meetings, Incentives, Conferences, Exhibitions) boom
⚠️ Risks
Very high P/E (84x) with declining profits
Low ROE (5.5%) and ROCE (10.1%) for a capital-intensive business
High debt (₹846 Cr) post-IPO capex
Zero dividends – not suited for income investors
Investment Suitability
Factor
Assessment
Risk Profile
Very High (IPO-stage, unproven scale)
Time Horizon
Long-term (5+ years)
Volatility
High
Dividend/Income
None (0% yield)
Ideal Investor
Aggressive investor betting on India’s luxury travel story; not for conservative portfolios
FAQs
Only for long-term, high-risk investors. The IPO funds grow but come with rich valuation and execution risk.
Patu Keswani and family—promoters hold 88.98%.
₹18,196 Cr market cap, trading at 84x P/E and 3.9x P/B—expensive relative to earnings quality.
NSE (VENTIVE) and BSE (544207).
Final Verdict
Ventive Hospitality is a strategic bet on India’s luxury travel future, not a near-term profit generator. While its brand partnerships and asset base are impressive, current fundamentals do not justify its valuation. Our 2026–2030 price targets (₹810–₹1,220) reflect cautious optimism—but even then, returns may lag broader markets unless ROE improves dramatically. Avoid aggressive buying; consider only small positions for thematic exposure.
📌 Disclaimer: Price targets are estimates based on current fundamentals and sector trends. They are not investment advice. Please consult a SEBI-registered advisor before investing.
