IHCL reports revenue from operations of Rs 2484 cr for Q2, PAT at Rs

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The Economic Times daily newspaper is available online now. Read Today's Paper IHCL reports revenue from operations of Rs 2484 cr for Q2, PAT at Rs 380 crBy Anumeha Chaturvedi, ET BureauLast Updated: Oct 21, 2026, 07:57:00 PM ISTSynopsis

Indian Hotels Company Limited has announced a revenue of Rs 2484 crore for the second quarter. The company expects to surpass its goal of a 700-hotel portfolio under the Accelerate 2030 initiative. Earnings before interest, taxes, depreciation, and amortization stood at Rs 788 crore, showcasing a strong performance. IHCL plans to open 30 new hotels in the fiscal year's second half, adding to its existing portfolio.

Tata Group backed Indian Hotels Company (IHCL) has reported revenue from operations of Rs 2484 crore for quarter two, up 21.7% year on year. The chain reported a net profit of Rs 380 crore, compared with Rs 318 crore in the previous fiscal year.

IHCL MD and CEO Puneet Chhatwal said the company is set to achieve its Accelerate 2030 target of a 700 hotels portfolio well ahead of time. He said the company is also upgrading its consolidated revenue guidance for financial year 2027 from 12-14% to 15-17%, led by 17-19% hotel segment revenue with seasonally strong quarters ahead, 'high demand' from social and MICE events and a strong non-like-for-like growth.

“Quarter two was a record quarter for us in terms of all key metrics such as topline, EBITDA and profit after tax. Based on our performance in the first half of this fiscal, we are revising our consolidated revenue guidance. October looks very strong and we expect very encouraging growth in quarter three as well,” said Chhatwal. “We are expecting a very strong not like for like growth as we will open 30 hotels in the second half of this fiscal, up from 20 in the first half,” he added.

He said IHCL’s EBITDA stood at Rs 788 crore with the EBITDA margin at 30.7%.

“The revenue drivers were a rise of 25% in revenue per available room from domestic same store hotels, a 25% increase in management fee income led by new openings momentum, and a 25% revenue growth in the select service business and the contribution from our recent acquisitions of Brij and Atmantan,” said Chhatwal.

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“With 47 signings in the first half across the brandscape, IHCL today is a portfolio of 670 hotels and is set to achieve its guidance under Accelerate 2030 of a 700-hotel portfolio well ahead of time,” he added.

Ankur Dalwani, executive vice president and CFO said IHCL Consolidated reported a gross cash of Rs 4,369 crore as on September 30.

“In the quarter, we also announced the merger of OHL with IHCL, which will simplify group holding structure, expand asset management opportunities and accelerate long term revenue growth,” he said. “The Scheme has been filed with the Stock Exchanges with an Appointed Date of April 1, 2027,” he added.

IHCL has a pipeline of 280 hotels totaling more than 32,000 rooms. With the opening of 20 hotels in H1, the operating portfolio stood at 390 hotels. These included aTaj in Frankfurt, the Taj Bush Lodge in Kruger, South Africa, and Taj properties in Lucknow and Tadoba. The chain said it increased its presence in the key lodging markets of Mumbai, Gurugram, Goa and Hyderabad through other brands.

The chain also launched the 100th operating hotel of its Ginger brand, making it the first brand across hospitality segments in India to achieve this milestone.
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