The South Asian segment made up well for a dip in the SL segment. The recurring
EBIT for the quarter increased to LKR 1.13bn (+18.7% YoY) which resulted in an EBIT
margin of 33.5%. AHUN made a net revenue of LKR 3.36bn (+2.4% YoY) for Q3 FY 15.
Management expects ‘BBH’ and ‘The Sands’ (additional rooms) to start operations in Q2
FY 16. Based on the DCF valuations we have arrived at a Target Price of 89.