Kerbside

Arvind DSIJ / 09 Jul 2026 / Categories: DSIJ_Magazine_Web, DSIJMagazine_App, Informed Intelligence, Kerbside, Regular Columns

Kerbside

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CHECKING INTO GROWTH [EasyDNNnews:PaidContentStart]

Taj GVK Hotels & Resorts
BSE Code: 532390
CMP: ₹362.15 

Taj GVK seems ready to add another room key to its growth story. The company has received the Occupancy Certificate for Taj Yelahanka in North Bengaluru, a 256-key luxury hotel likely to begin operations in the coming months, with scheduled opening by September 2026. The location has plenty going for it, with corporate travel, MICE activity and leisure traffic expected to support demand. 

FY26 already had a touch of grandeur. Taj GVK reported its highest-ever standalone performance, with total income of ₹502 crore, EBITDA of ₹175 crore and PAT of ₹117 crore. With its Taj brand connect, strong occupancy profile and a new Bengaluru property nearing launch, this hospitality play may soon have more guests at the earnings table. 

GOLD RUSH IN THE LEDGER 

Dhanlaxmi Bank
BSE Code: 532180
CMP: ₹36.20 

Dhanlaxmi Bank is suddenly making itself heard. FY26 was already a strong comeback year, with the bank posting its highest-ever profit of ₹102.75 crore, while gross NPA slipped to 1.89 per cent and net NPA to 0.51 per cent. 

Now, the Q1FY27 update has added more fuel to the fire. Total business grew 21.12 per cent YoY to ₹35,188 crore, advances rose 26.47 per cent and gold loans glittered with a 75.91 per cent jump. MSME loans too climbed 29.24 per cent. If the murmur on the Street is right, earnings could be bumper. This small bank may be getting ready for a big move. 

COVERED FOR GROWTH 

Niva Bupa Health Insurance
BSE Code: 544286
CMP: ₹86.52 

Niva Bupa is playing in one of India’s most under-penetrated insurance pockets, with retail health insurance penetration still below 5 per cent. That leaves a long runway, and the company is already making good use of it. The real comfort comes from the quality of growth. Around 60 per cent of its retail business comes from renewals, which carry better economics with 97-98 per cent combined ratios due to lower acquisition costs. As this renewal book grows, persistency should improve and profitability can strengthen more organically. Add to that its investments in distribution, technology and brand building, and Niva has reached a scale where revenue is increasingly growing faster than operating costs. With higher ticket sizes, rider upgrades and ReAssure 3.0 traction, this health insurer looks well covered for growth. 

FROM PARCELS TO PROFITS 

Delhivery
BSE Code: 543529
CMP: ₹517.85 

Delhivery is packing more punch into its Logistics engine. Its express parcel business clocked a strong 73 per cent YoY volume growth in Q4FY26, including the Ecom Express acquisition, helped by e-commerce demand, higher outsourcing and large platform-led volumes. The bigger twist is in PTL, where service EBITDA margin has swung from -8.5 per cent in Q1FY24 to 13.4 per cent in Q4FY26. With organised players still handling less than 25 per cent of PTL volumes, there is enough road left to travel. The Ecom Express integration adds rural reach, better network density and scope for cost synergies. Add Delhivery Direct, Rapid, improving asset use and lower steady-state capex, and this logistics player may be gearing up for a sharper earnings delivery. 

(Closing price as of July 07, 2026)
 

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