Juniper Hotels Ltd

Our dedication to creating value for everyone associated with JHL is evident in our comprehensive approach to employee development, customer satisfaction, and corporate social responsibility. By investing in our people, delighting our customers, and giving back to the community, we ensure that JHL remains a trusted and respected name in the hospitality industry.

Dear Esteemed Shareholders,

I would like to extend my heartfelt thanks to our shareholders for their overwhelming support during our IPO. It is with great pride and a profound sense of responsibility that I address you at the close of an extraordinary fiscal year. FY2024 has been a year of transformative achievements and significant milestones for Juniper Hotels Limited (JHL), reflecting our unwavering dedication to excellence, innovation, and sustainable progress.

Navigating a Complex Economic Landscape

The global economic landscape in FY2024 presented a complex interplay of recovery and persistent challenges. Despite these headwinds, the Indian economy has demonstrated remarkable resilience, bolstered by strong microeconomic fundamentals and improved consumer sentiment, which has further supported our growth and stability. Our ability to adapt and innovate has been the cornerstone of our success, allowing us to emerge stronger and more agile. Notably, these strategic responses have positioned us well to capitalize on emerging opportunities and drive sustained progress.

Strong Corporate Governance and Fiscal Prudence

Our commitment to strong corporate governance and prudent fiscal management has been unwavering. As a listed company now, we have taken great pains to establish robust governance frameworks to serve the best interests of our stakeholders. These frameworks are designed to ensure transparency, accountability, and integrity in all our operations.

This rigorous approach has not only safeguarded our assets but has also significantly enhanced shareholder value and fostered deep trust among all our stakeholders.

Our business model centres around the strategic development, ownership, and management of luxury, upper upscale, and upscale hotels and serviced apartments. Leveraging our longterm partnership with Hyatt Hotels Corporation, we have built a portfolio that benefits from strong brand recognition and market reach. Our properties are strategically located in major business and tourist hubs across India, allowing us to capitalize on the high demand for premium hospitality services.

Fiscal prudence is a cornerstone of our strategy. The successful Initial Public Offering (IPO), which raised Rs.1,800 crore, has provided us with the financial leverage to significantly reduce our debt and strengthen our balance sheet. This infusion of capital has allowed us to improve our Net Bank Debt to EBITDA ratio from 5.7x to 0.7x from FY23 to FY24 respectively, demonstrating our disciplined financial management.

By maintaining a strong balance sheet, we ensure that we have the financial flexibility to pursue growth opportunities while mitigating risks.

Our dedication to these principles reflects our commitment to maintaining the highest standards of corporate governance and financial prudence. This commitment encompasses rigorous risk management practices, regular audits, and strict adherence to regulatory compliance, ensuring we consistently meet and surpass the expectations of our investors, partners, and the communities we serve. We believe that robust governance and fiscal responsibility are crucial for sustainable growth and long-term success.

Commitment to Stakeholders

At JHL, we are dedicated to working tirelessly for all our stakeholders, which includes our customers, employees, shareholders, and the communities we serve. We recognize that our success is deeply intertwined with the well being and growth of these groups. Our focus on employee development is a key aspect of our commitment. We emphasize cultivating a diverse and inclusive workplace that allows our team members to flourish. By fostering an environment where varied talents are valued and supported, we aim to enhance our service excellence and ensure our employees thrive in their roles.

Our focus on customer satisfaction remains a cornerstone of our operations. We continuously strive to exceed our guests' expectations by providing exceptional service and memorable experiences. This commitment to excellence is reflected in our high customer satisfaction scores and repeat business.

Corporate social responsibility (CSR) is another area where we have made significant strides. Our CSR activities are not just an obligation but a core part of our identity. A prime example of our commitment to social responsibility is our support for the Bodh Gaya School project.

This initiative aims to provide quality education and better facilities to underprivileged children, helping to uplift the local community and create a brighter future for the next generation.

Pioneering Sustainability Initiatives

At JHL, our unwavering commitment to sustainability is integral to our operations. We have made significant strides in renewable energy, waste management, and water conservation, striving for environmental stewardship in the hospitality industry.

We have successfully transitioned to green energy by sourcing power generated from renewable sources for Grand Hyatt Mumbai and Andaz Delhi. This initiative has reduced our carbon footprint and showcases our proactive role in combating climate change by lowering reliance on non-renewable energy sources.

By focusing on the 3Rs—Reduce, Reuse, and Recycle—we have implemented advanced waste segregation and composting techniques, reducing landfill burden and promoting a circular economy. These efforts align with the values of environmentally conscious travellers.

Water conservation is another critical aspect of our sustainability strategy. Across all our hotels, innovative measures such as rainwater harvesting, and groundwater recycling have resulted in a 25% reduction in water consumption. By optimizing water usage and recycling, we ensure sustainable operations and set a precedent for responsible water management in hospitality.

Our sustainability initiatives reflect our broader commitment to environmental stewardship and responsibility towards future generations. These efforts not only enhance our brand reputation but also position us as forward-thinking leaders in the hospitality industry, prepared for the future of eco-conscious travel.

Looking Forward

As we look forward to the future,

I am confident that JHL is well- positioned to capitalize on the promising opportunities in the Indian hospitality market. Our strategic focus on innovation, sustainability, and operational excellence will continue to drive our growth and enhance shareholder value.

In closing, I would like to extend my heartfelt gratitude to our shareholders, employees, and partners for their unwavering support and trust. Together, we will continue to build on our legacy of excellence and achieve new heights in the years to come.

Sincerely,