Oyo parent PRISM posts 50% FY26 revenue growth as it readies Rs 6,650 crore IPO

PRISM, the parent of Oyo, reported FY26 revenue from operations of Rs 9,358 crore and GBV of Rs 30,683 crore, up 50% and 88.5% respectively. EBITDA more than doubled to Rs 2,594 crore, while PAT rose to Rs 994 crore. The company is preparing a proposed IPO with a fresh issue of up to Rs 6,650 crore.

— Source publishedThu, 27 Aug, 2026, 16:05 IST·First seen Thu, 27 Aug, 2026, 16:20 IST·Source ET Small Business

What happened

Prism (OYO parent) · Oyo parent PRISM reported FY26 revenue growth of 50% to Rs 9,358 crore and GBV growth of 88.5% to Rs 30,683 crore. It is preparing for a

Key facts

  • FY26 revenue from operations: Rs 9,358 crore, up 50%
  • FY26 EBITDA: Rs 2,594 crore, more than doubled
  • FY26 profit after tax: Rs 994 crore versus Rs 245 crore in FY25
  • Deferred-tax credit: Rs 678 crore
  • FY26 GBV: Rs 30,683 crore, up 88.5%
  • Gross profit: Rs 5,700 crore, up 82.5%
  • Proposed IPO fresh issue: up to Rs 6,650 crore
  • Approximately 67% of FY26 room nights came via non-commissionable channels

Why this matters

Rapid GBV growth of 88.5% alongside profitability expansion makes PRISM a more credible consolidator and partnership candidate across hospitality, travel distribution and adjacent services.

What to watch

  • Draft red herring prospectus details on use of proceeds, dilution, debt, cash flow and adjusted versus statutory profitability.
  • FY27 guidance for GBV growth, revenue take rate, EBITDA margin and free-cash-flow conversion.
  • Occupancy, average daily rate, hotel supply additions and churn among hotel partners.
  • India domestic travel demand, corporate travel recovery and inbound-tourism trends.
  • Competitive pricing actions from OTA platforms, hotel chains and alternative-accommodation providers.
  • IPO anchor-book demand, valuation range and broader Indian primary-market conditions.
  • Use IPO proceeds to reduce balance-sheet constraints and prioritize high-return hotel supply, especially premium and long-stay inventory.
  • Increase revenue-management, dynamic-pricing and property-operations tools to convert GBV growth into higher take rates and repeat bookings.
  • Highlight cash flow, debt reduction, occupancy, ADR, repeat-user and partner-retention metrics in pre-IPO disclosures.
  • Rivals and hotel aggregators are likely to raise partner commissions, inventory guarantees and loyalty promotions in key Indian travel corridors.