The Indian Hotels Company Limited

Investor Meeting Intimation

Indian Hotels Company Limited (IHCL) has provided an intimation to the exchanges regarding its scheduled participation in an upcoming institutional investor conference, pursuant to Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Meeting Details

Procedural Note

IHCL has clarified that the aforementioned schedule is tentative and may be subject to modification, rescheduling, or cancellation based on unforeseen circumstances or business exigencies.

Key Highlights

Financial Performance

The Indian Hotels Company Limited (IHCL) demonstrated resilient performance in Q2 FY27. Consolidated operating revenue grew 22% YoY to INR 2,484 crore, while consolidated operating EBITDA improved to INR 706 crore, reflecting a 24% growth YoY. EBITDA margins for the consolidated entity stood at 28.4%, an expansion of 50 basis points. Standalone performance was notably strong, with revenue growing 26% YoY to INR 1,336 crore and EBITDA expanding by 40% to INR 520 crore, yielding a margin of 38.9%.

Management noted that performance has been underpinned by a diversified operating model. Management fee income rose 25% YoY to INR 156 crore, supported by increased managed room inventory and higher RevPAR.

Strategic Developments

Oriental Hotels Merger

IHCL announced a strategic merger with Oriental Hotels (OHL). The all-stock transaction features a share exchange ratio of 25 IHCL shares for every 117 OHL shares. Management expects this merger to unlock operational synergies and provide a 6-7% upside to standalone operating revenue in FY28. The appointed date for the merger is April 1, 2027.

Portfolio Expansion

IHCL continues to pursue an aggressive expansion strategy, signing 47 hotels and opening 20 hotels in H1 FY27. The company currently has 390 operational hotels and expects to cross the 400-hotel milestone before the end of Q3 FY27. The growth remains capital-light, with 94% of pipeline keys under management contracts or capital-light leases.

Operational Highlights

• Occupancy: Improved significantly to 82% from 75% in the same quarter last year.
• Select Service Business: The select service portfolio (Ginger, Qmin, Ama, Tree of Life) continues to perform robustly, with Ginger revenue growing 25% YoY with an EBITDA margin of 40%. Ginger has reached 100 operational hotels.
• International Assets: While impacted by temporary headwinds such as the West Asia crisis affecting fuel and power costs, management maintains a positive outlook, particularly for the London property.

Management Commentary and Guidance

Management expressed high confidence in the second half of the year, citing seasonally strong quarters and increased MICE activity. Consequently, they upgraded the full-year FY27 consolidated revenue growth guidance from 12-14% to 15-17%. The Hotel segment revenue is specifically expected to grow by 17% to 19%.

Regarding international operations, while margins are lower than domestic operations, management reiterated that these assets are critical for the brand's global standing and profile.

Concerns and Watch Points

• TajSATS Performance: The air catering business experienced margin pressure in Q2 due to airline schedule curtailments that began in Q1. Management noted this as a year of consolidation and expects improvement in H2.
• International Costs: Operations in London and the U.S. faced increased cost pressures from the West Asia crisis and regulatory changes in London, though these are expected to stabilize.
• Execution Timeline: Future growth targets rely on the timely execution of the pipeline, which management monitors closely.

Investor Takeaway

IHCL's Q2 FY27 results reflect sustained growth and effective execution of its asset-light strategy. The upgrade in full-year revenue guidance and the strategic OHL merger are key positive developments. Investors should track the integration of new acquisitions, the recovery of TajSATS margins, and the progress of international assets in H2.

Key Highlights

Overview

Indian Hotels Company Ltd has formally notified the stock exchanges regarding a scheduled series of meetings with analysts and institutional investors. The management will be conducting a roadshow covering London and Frankfurt.

What This Means for Investors

This filing serves as standard regulatory compliance under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It ensures that shareholders are informed of the company's management outreach activities. There is no new financial, operational, or strategic guidance included in this announcement, and the schedule remains subject to change based on business exigencies.

Publication Details

Indian Hotels Company Ltd has officially published the extract of its Un-audited (Reviewed) Standalone and Consolidated Financial Results for the quarter and half year ended September 30, 2026. This action was taken in accordance with the mandatory requirements stipulated under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Important Dates

• Publication Date: October 22, 2026
• Reporting Period: Quarter and half year ended September 30, 2026

Newspaper Editions

The results extract was published in the following newspapers on October 22, 2026:

• Financial Express: English (All India Edition)
• Loksatta: Marathi (Mumbai Edition)

Shareholder Instructions

The company has included a Quick Response (QR) code in the newspaper advertisement to facilitate easy access to the full financial results. Shareholders may also access these documents through the company's official website or the stock exchange platforms.

Regulatory Context

The publication serves to satisfy the transparency and disclosure mandates under Regulation 30 and Regulation 47 of the SEBI (LODR) Regulations, 2015, which require listed entities to inform the public and shareholders of financial performance updates.

Overview

Indian Hotels Company Limited (IHCL) has filed the audio recording of its Q2 FY27 global conference call with the BSE and NSE. The disclosure is in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Access to Earnings Call

The audio recording pertains to the earnings call held on October 21, 2026. Interested stakeholders may access the recording through the official investor relations portal of the company.

Investor Relevance

This filing ensures that the management's discussion and subsequent Q&A session with analysts are accessible for public review. It does not contain independent financial data but serves as the gateway to the company's official commentary on its quarterly performance.

Financial Performance Summary

Indian Hotels Company Ltd (IHCL) achieved its 18th consecutive record quarter in Q2 FY27. Both standalone and consolidated financials showed strong year-on-year growth.

Consolidated Financials (Q2 FY27)

Standalone Financials (Q2 FY27)

Operational Highlights

• Portfolio Growth: The company has a pipeline of 280 hotels, comprising 34,800+ keys.
• New Openings: 50 new hotel openings are planned for FY27. As of Q2, 20 hotels opened in H1, with 30 more planned for H2.
• Operational Scale: The company reached 400 operational hotels in the quarter, with a portfolio of 670 hotels including the pipeline.
• Brand Performance: Strong RevPAR growth was noted across brands, led by Taj. The 'Ginger' brand surpassed 100 operating hotels.

Strategic Developments

• OHL Portfolio Merger: The company has filed a merger scheme with stock exchanges for the acquisition of the OHL portfolio (7 hotels, 825 keys). This transaction is expected to drive a 6-7% increase in standalone operating revenue and EBITDA in FY28.
• Credit Rating: CARE and ICRA have upgraded the company's credit rating to AAA (the highest slab).
• Cash Position: The company is well-positioned for investment with ₹4,350 Cr+ of gross cash as of September 2026.

Management Guidance

Management has upgraded its full-year revenue growth guidance to:

• 17-19% YoY for Consolidated Hotel Revenue.
• 15-17% YoY for Total Revenue.

Key growth drivers identified include continuing like-for-like TRevPAR momentum, renovated assets returning to high-yield operations, 30+ hotel openings expected in H2, and acquisitions fueling non-like-for-like growth.

What Looks Positive

• Consistent Growth: 18 consecutive quarters of record performance demonstrates sustained operational capability.
• Margin Expansion: Continued profitability growth, even while absorbing costs from new hotel stabilizations and investments in talent/technology.
• Strong Balance Sheet: Significant cash position of ₹4,350 Cr+ supports ongoing expansion and investment activities.
• High Visibility: A robust pipeline of 280 hotels provides strong visibility for future growth.

Watch Points

• Supply vs Demand: While demand is expected to outpace supply in the near term, investors should monitor sector cyclicality and the ability to maintain pricing power.
• Transaction Integration: Execution of the OHL merger and successful integration of the 7 new properties will be key to realizing the targeted FY28 financial impact.

Investor Takeaway

IHCL continues to deliver strong financial and operational results, bolstered by robust demand and a significant expansion pipeline. The upgrade to its full-year guidance and the AAA credit rating reflect management's confidence in sustained momentum. Shareholders should monitor the execution of the OHL merger and the pace of the planned 30+ new hotel openings in the second half of FY27.

Key Highlights

Financial Snapshot (Consolidated)

IHCL reported its 18th consecutive record quarter. Revenue for Q2 FY2027 stood at Rs 2,566 crore, a 21% increase over the previous year. Consolidated EBITDA rose 21% to Rs 788 crore, maintaining a margin of 30.7%. Profit After Tax (PAT) grew by 23% to Rs 349 crore.

Standalone Performance

IHCL's standalone entity delivered stronger growth metrics compared to the consolidated performance:

• Revenue: Rs 1,336 crore, up 26% YoY.
• Operating EBITDA: Rs 520 crore, up 40% YoY.
• Operating EBITDA Margin: 38.9% (expansion of 400 basis points).
• PAT: Rs 393 crore, up 36% YoY.

Management attributed this standalone growth to a 28% RevPAR increase in full-service same-store hotels, supported by marquee events in key markets and renovated assets in Goa, Delhi, Bengaluru, and Udaipur.

Operational Highlights

• Signings: 47 new hotels signed in H1 FY2027, bringing the total portfolio to 670 hotels.
• Openings: 20 hotels opened in H1, including locations in Frankfurt, Kruger (South Africa), Lucknow, and Tadoba.
• Drivers: Revenue growth was supported by a 25% increase in domestic same-store RevPAR, a 25% increase in management fee income, and a 25% growth in the Select Service Business.
• Liquidity: Gross cash as of September 30, 2026, was reported at Rs 4,369 crore.

Management Commentary and Guidance

Management expressed confidence in the outlook, upgrading the consolidated revenue guidance for FY2027 from 12-14% to 15-17%. This is underpinned by expectations of 17-19% growth in the hotel segment, seasonally strong quarters ahead, and high demand from social and MICE events.

Corporate Developments

The company announced the merger of OHL with IHCL. This move is intended to simplify the group's holding structure, expand asset management opportunities, and accelerate long-term revenue growth. The scheme has been filed with the stock exchanges with an appointed date of April 1, 2027.

What This Means for Investors

The company continues to report strong operational momentum, characterized by double-digit revenue growth and consistent margin expansion. The upgrade in full-year revenue guidance suggests visibility and confidence in demand, particularly in the hotel segment. The merger of OHL is a structural change intended to streamline operations, which shareholders should monitor for integration updates and long-term efficiency benefits.

Financial Snapshot

The table below compares the consolidated financial performance of Indian Hotels Company Ltd for the quarter ended September 30, 2026 (Q2 FY2027) with the quarter ended September 30, 2025 (Q2 FY2026).

Note: Figures converted from lakh to crore for readability; 100 lakh = 1 crore.

Revenue and Profitability Analysis

IHCL demonstrated strong operational growth in Q2 FY2027. The company's consolidated revenue from operations grew to Rs 2,484.32 crore (Rs 248,432 lakh) from Rs 2,040.89 crore (Rs 204,089 lakh) in the corresponding period of the previous year. Net profit for the period (attributable to owners and non-controlling interests) reached Rs 379.85 crore (Rs 37,985 lakh), up from Rs 318.26 crore (Rs 31,826 lakh) in Q2 FY2026. The company operates in a single business segment: hoteliering.

Corporate Action Details

• Acquisition of Brij Hospitality Private Limited: On April 21, 2026, the company, along with subsidiaries ANK Hotels and Pride Hospitality, completed the acquisition of a 51% equity stake in Brij Hospitality Private Limited for an aggregate consideration of Rs 221.82 crore (Rs 22,182 lakh), which includes a contingent consideration of Rs 28.62 crore (Rs 2,862 lakh). Brij Hospitality has now become a subsidiary of the company.
• Proposed Amalgamation: The board approved the Scheme of Arrangement for the amalgamation of Oriental Hotels Limited (OHL) into IHCL on August 24, 2026. This process is subject to approval from the NCLT, shareholders, creditors, and other regulatory bodies.

What Looks Positive

The company delivered consistent year-on-year growth in both top-line revenue and bottom-line profit, reflecting operational strength. The completion of the Brij Hospitality acquisition provides clarity on its inorganic growth strategy.

Concerns and Watch Points

Investors should monitor the progress of the Oriental Hotels Limited (OHL) amalgamation, which remains subject to various regulatory, shareholder, and creditor approvals. Any delays or conditions imposed during this process could impact the timeline.

Investor Takeaway

IHCL has presented a robust financial performance for the second quarter, characterized by significant revenue and profit growth. With its strategic inorganic growth initiatives, such as the Brij Hospitality acquisition, and ongoing corporate restructuring, the company remains in a dynamic phase. Shareholders should track the regulatory approvals and timelines regarding the OHL amalgamation as a key development area.

Financial Snapshot (Consolidated) (Quarter Ended September 30, 2026)

The following table outlines the consolidated performance for the quarter ended September 30, 2026, against the same quarter in the previous year (all figures in Rs crore):

Financial Snapshot (Standalone) (Quarter Ended September 30, 2026)

Corporate Action Details

Brij Hospitality Acquisition

On April 21, 2026, the company, alongside subsidiaries ANK Hotels Private Limited and Pride Hospitality Private Limited, completed the acquisition of a 51% equity stake in Brij Hospitality Private Limited. The aggregate consideration for this acquisition was Rs 221.82 crore (including contingent consideration of Rs 28.62 crore). This acquisition involved purchasing shares from existing shareholders and a primary investment in Brij through Compulsorily Convertible Preference Shares (CCPS) and partly paid-up equity shares. Brij has now become a subsidiary of the company.

Amalgamation of Oriental Hotels Limited

Regarding the ongoing corporate restructuring, the board approved a Scheme of Arrangement on August 24, 2026, for the amalgamation of Oriental Hotels Limited (OHL) into and with the company. The scheme remains subject to sanction by the National Company Law Tribunal (NCLT) and other requisite regulatory approvals.

Investor Takeaway

The reported financial results demonstrate growth for the company on both standalone and consolidated bases compared to the prior-year quarter. Investors should continue to monitor the progress of the Oriental Hotels Limited amalgamation and the integration of the newly acquired Brij Hospitality business.

Regulatory Update

The Indian Hotels Company Ltd (IHCL) has provided an intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding a penalty order received from the Brihanmumbai Municipal Corporation (BMC).

Details of the Order

Impact

The company has confirmed that this order has no material financial implication on its operations or business activities. This filing serves as a routine compliance disclosure for shareholders regarding regulatory developments.

Earnings Call Schedule

The Indian Hotels Company Ltd (IHCL) has formally intimated the stock exchanges regarding its scheduled earnings conference call. This call is being held following the declaration of the company's financial results for the quarter and half-year ended September 30, 2026.

Event Details

The company has provided universal dial-in numbers for domestic participants and international toll-free numbers for investors located in various global regions, including Argentina, Australia, Belgium, Canada, China, France, Germany, Hong Kong, Italy, Japan, Netherlands, Poland, Singapore, South Korea, Sweden, Thailand, the UK, and the USA. This filing is made in accordance with Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Highlights

Operational Performance

Indian Hotels Company (IHCL) reported a strong H1 FY2027, driven by 47 new signings and 20 hotel openings. The company now manages a portfolio of 670 hotels. With 390 hotels currently operational, the company maintains a significant development pipeline of 280 hotels, reinforcing its growth strategy.

Strategic Outlook

Management emphasized that IHCL is on track to achieve its 'Accelerate 2030' goal of a 700-hotel portfolio ahead of the projected timeline. The growth is supported by a diversified brand strategy and a mix of capital-light and capital-heavy assets. This approach aims to leverage the operating model of owned and leased hotels alongside a growing high-margin fee-based business.

Brand Segment Expansion

IHCL's signings in H1 were well-represented across segments. Luxury signings included 4 Taj hotels, one Brij, and one Atmantan property. The company is also driving scale in the mid-scale segment with 19 signings across the Ginger and Tree of Life brands. New openings have increased the company's presence in key lodging markets like Mumbai, Gurugram, Goa, and Hyderabad, and expanded its reach into emerging destinations like Kandla, Ayodhya, Tadoba, Kota, Bokaro, and Jorhat. Internationally, the company extended its Taj footprint with openings in Frankfurt and South Africa.

Investor Takeaway

IHCL's latest update demonstrates sustained momentum in expanding its hotel portfolio. The progress toward the 'Accelerate 2030' target ahead of schedule provides a positive signal regarding the execution of its asset-light and asset-heavy growth strategy. Shareholders should monitor the conversion of the 280-hotel pipeline into operating assets as the company continues to scale across its luxury and mid-scale segments.

Board Meeting Details

The Indian Hotels Company Limited has informed the stock exchanges that a meeting of its Board of Directors is scheduled for Wednesday, October 21, 2026. The primary agenda of the meeting is to consider and approve the unaudited (reviewed) standalone and consolidated financial results for the quarter and half-year ended September 30, 2026.

Insider Trading and Trading Window

In accordance with the company's code of conduct regarding the prevention of insider trading, the trading window for dealing in the company's securities has been closed since Thursday, September 24, 2026. The trading window will reopen 48 hours after the declaration of the financial results.

Credit Rating Update

CARE Ratings Limited has upgraded the long-term bank facility ratings of The Indian Hotels Company Limited (IHCL) to 'CARE AAA; Stable' from 'CARE AA+; Stable'. The short-term ratings have been reaffirmed at 'CARE A1+'. This upgrade places the company's long-term debt instruments in the highest credit quality category.

Key Highlights

Rationale for Upgrade

The rating agency cited the continuous improvement in the company's business and financial risk profile. Key drivers include:

• Financial Performance: IHCL reported a revenue growth of 16.3% year-on-year in FY26. Operating profitability remains strong with a PBILDT margin of 33.0%.
• Operational Strength: The company has strengthened its market leadership in the Indian hospitality industry, supported by its iconic 'Taj' brand and a pan-India network.
• Business Model: The company's strategy of focusing on asset-light additions, with 32% capital-heavy and 68% capital-light hotels, has improved operating profitability and resilience.
• Promoter Support: The ratings continue to factor in strong support from the parent, Tata Sons Private Limited, providing robust financial flexibility.

Financial Health and Liquidity

The company maintains a robust financial risk profile. Key indicators as of March 31, 2026, include:

• Net Worth: Rs 13,110 crore.
• Gearing: Overall gearing improved to 0.22x as of March 31, 2026, compared to 0.28x in the previous year.
• Liquidity: The company is in a net cash position after accounting for lease liabilities, with cash and bank balances of Rs 1,825 crore and liquid investments of Rs 2,500 crore as of March 31, 2026.

Risks and Watch Points

• Litigation: The company faces a long-pending lease rental dispute with the Mumbai Port Trust (MPT). While the demand is substantial, CareEdge Ratings expects the impact to remain manageable given the company's strong liquidity and financial flexibility.
• Sensitivity Factors: The rating is sensitive to any significant debt-funded capital expenditure leading to a weakening of debt coverage metrics, disruption in travel activities, or a decline in support from the promoter group.

Compliance Overview

Indian Hotels Company Limited (IHCL) has submitted a compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended September 30, 2026. This filing confirms that the company and its Registrar and Transfer Agent (RTA) have adhered to the regulatory requirements concerning the dematerialization of shares.

RTA Confirmation

The certificate includes a confirmation from the company's RTA, MUFG Intime India Private Limited (formerly Link Intime India Private Limited), dated October 3, 2026. The RTA has certified the following:

• Securities received for dematerialization during the quarter ended September 30, 2026, were processed within the prescribed timelines.
• The security certificates received for dematerialization were duly mutilated and cancelled after verification.
• The names of the depositories have been successfully substituted in the company's register of members as the registered owners.

Investor Implications

This is a routine regulatory procedural filing required for listed companies. It serves as evidence of ongoing compliance with SEBI's depository participant regulations regarding shareholder request processing. It carries no financial, operational, or strategic impact.

Publication Details

Indian Hotels Company Ltd (IHCL) has issued a public notice regarding a special window for the re-lodgement of physical share transfer requests. This disclosure was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice was published on October 2, 2026, in the Financial Express (English) and Loksatta (Marathi).

Procedural Overview

The company has initiated this special window to assist shareholders who previously attempted to transfer physical shares but had their requests returned or required additional documentation. This is part of the ongoing regulatory compliance efforts to facilitate the processing of legacy physical share transfer requests.

Shareholder Instructions

• Target Audience: Shareholders who hold shares in physical form and have previously received communication regarding returned or incomplete transfer requests.
• Action Required: Affected shareholders are advised to follow the specific re-lodgement procedures outlined in the notice.
• Resources: Detailed instructions and procedural requirements are available on the company's official website at www.ihctata.com.
• Compliance: Shareholders should adhere strictly to the guidelines provided to ensure that their re-lodgement requests are successfully processed.

Trading Window Closure

Indian Hotels Company Limited has announced the closure of its trading window for dealing in the company's securities, effective Thursday, September 24, 2026.

This action is a standard procedure undertaken in accordance with the company's Code of Conduct for Prevention of Insider Trading. The closure is specifically linked to the upcoming declaration of the company's standalone and consolidated financial results for the quarter ending September 30, 2026.

Reopening Schedule

The trading window will remain closed to all designated persons and employees as per the company's internal policy. It is scheduled to reopen 48 hours after the company officially declares its financial results for the quarter to the Stock Exchanges.

Investor Meeting Schedule

The Indian Hotels Company Limited (IHCL) has submitted a formal intimation to the stock exchanges regarding its participation in an upcoming investor conference. The disclosure is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Schedule Details

Nature of Disclosure

The company has classified this engagement as a routine investor meeting. Management has clarified that the aforementioned schedule is tentative and remains subject to modification, rescheduling, or cancellation based on potential business exigencies or unforeseen circumstances.

Investor Meeting Schedule

Indian Hotels Company Ltd (IHCL) has provided the following schedule for upcoming analyst and institutional investor interactions for September 2026. The company notes that this schedule is tentative and subject to change based on business exigencies.

All meetings are scheduled to commence at 10:00 AM onwards.

Transaction Overview

Indian Hotels Company Ltd (IHCL) announced that its Board of Directors has approved a scheme of arrangement for the amalgamation of Oriental Hotels Limited (OHL) into IHCL. The merger is part of IHCL's broader group simplification strategy. Currently, IHCL and its subsidiaries hold a 37.1% stake in OHL, which is an associate company of the group.

Proposed Terms

The transaction is structured as an all-stock deal. Under the approved scheme, the share swap ratio is set at 1 share of IHCL for every 4.68 shares of Oriental Hotels Limited (based on 25 shares of IHCL for every 117 shares of OHL). The merger targets completion in FY28, with an appointment date for financial consolidation set for April 1, 2027.

Strategic Objectives

Management has outlined several strategic objectives for the merger:

• EPS Accretion: The transaction is expected to be EPS accretive from the first year post-merger.
• Enhanced Financial Profile: An increase in combined revenue and profitability is anticipated.
• Group Simplification: Reducing cross-holdings and moving toward direct ownership to simplify governance.
• Asset Management: Opportunity to deploy capital for asset management, including renovations and future expansion.

Portfolio Impact

The merger will add 7 hotels and 825 operating rooms to the IHCL standalone portfolio. Key highlights of the addition include:

• Scale: Total operating keys post-merger are expected to exceed 2,100.
• Assets: The portfolio includes 3 freehold properties and 4 leased properties.
• Geographic Presence: Strengthening presence in Southern India, particularly in Chennai, Kochi, Madurai, Coonoor, Mangalore, and Coimbatore.

Potential Asset Management Opportunities

Post-merger, the company has identified specific asset management opportunities across the acquired properties, including:

• Taj Fisherman's Cove Resort & Spa, Chennai: Addition of villas and MICE (Meetings, Incentives, Conferences, and Exhibitions) venues.
• Taj Coromandel, Chennai: Renovations and upgrades for F&B and Chambers.
• Vivanta Coimbatore: Overall renovation and upgrade.
• Gateway Madurai: Future expansion opportunity.

What This Means for Investors

For existing shareholders, the merger represents a shift toward consolidating a key associate company into the primary entity. The move is designed to simplify the IHCL group structure, reduce cross-holding complexities, and provide potential earnings upside. Key monitoring points moving forward include the regulatory approval process and the successful execution of the planned asset management and renovation initiatives.

Merger Overview. IHCL has announced a board-approved scheme of arrangement to merge its associate company, Oriental Hotels Limited (OHL), into itself. IHCL and its subsidiaries currently hold a 37.1% stake in OHL. The merger is part of IHCL's group simplification strategy. ## Transaction Details. The deal is structured as an all-stock transaction. The share swap ratio is fixed at 1 IHCL share for every 4.68 OHL shares. This is expected to result in the issuance of approximately 2.32 crore new IHCL shares, representing roughly 1.6% dilution. The appointed date for financial consolidation is April 1, 2027, with the targeted completion of the merger by FY28. ## Strategic Objectives. The primary objectives are to simplify the IHCL group structure and increase shareholding in key group companies. The merger will add 7 hotels to IHCL's standalone portfolio, including 3 freehold properties. Management expects the transaction to be EPS accretive from the first year of operation. ## Portfolio Impact. Post-merger, IHCL expects its total operating hotel keys to exceed 2,100. This includes assets such as Taj Coromandel (Chennai), Taj Fisherman's Cove (Chennai), and various Gateway and Vivanta properties. The company identified potential asset management opportunities, including renovations, upgrades, and future expansion possibilities for these newly integrated assets. ## Simplified Holding Structure. The merger aims to significantly reduce cross-holdings and allow for direct ownership in key entities like Taj Karnataka, Taj Madurai, and Taj Kerala, thereby simplifying governance. ## Management Outlook and Financials. The presentation highlights a robust growth matrix comparison between FY23-26, showing IHCL's reported PAT CAGR at 28%, significantly outpacing OHL's 8%. The company projects that OHL's operating revenue and EBITDA will benefit from cost efficiencies, synergy benefits, and asset optimization post-merger. ## Investor Takeaway. The merger represents a significant consolidation step for IHCL, aiming to extract synergies and streamline its group structure. While it involves equity dilution, the management emphasizes the long-term benefit of increased control over key assets and EPS accretion. Shareholders should monitor the regulatory approval process and any updates on the targeted completion timeline.

Transaction Overview

On August 24, 2026, The Indian Hotels Company Limited (IHCL) announced that its Board of Directors approved a Scheme of Arrangement for the amalgamation of Oriental Hotels Limited (OHL) into IHCL. The transaction is an all-stock deal structured to simplify the group's corporate holding structure.

Key Transaction Terms

Strategic Rationale

Management stated that the merger is aligned with the 'Accelerate 2030' strategy. Key objectives include:

• Structural Simplification: Increasing direct ownership across entities and creating two new operating subsidiaries.
• Operational Efficiency: Streamlining governance, optimizing overheads, and enhancing operational efficiency.
• Asset Integration: Leveraging IHCL’s balance sheet to support strategic investments in the OHL portfolio, which includes seven hotels with 825 rooms.

Portfolio Context

Oriental Hotels Limited is an associate company of IHCL. Its portfolio includes:

• Freehold Assets: Taj Coromandel (Chennai), Taj Fisherman’s Cove Resort & Spa (Chennai), and Gateway Coonoor.
• Leasehold Assets: Taj Malabar Resort & Spa (Cochin), Vivanta Coimbatore, Vivanta Mangalore, and Gateway Madurai.
• Strategic Investments: Interests in various IHCL group entities, including St. James Court, TAL Hotels and Resorts Ltd, and others.

Transaction Advisors

• For IHCL: PwC Business Consulting Services LLP (Registered Valuer), Kotak Mahindra Capital Company Limited (Fairness Opinion), and Cyril Amarchand Mangaldas (Legal Counsel).
• For OHL: SSPA & Co., Chartered Accountants (Registered Valuer), Motilal Oswal Investment Advisors Limited (Fairness Opinion), and Kochhar & Co. (Legal Counsel).

Investor Takeaway

The merger serves as a consolidation move to integrate OHL's assets directly into IHCL. Investors should monitor the progress of statutory and regulatory approvals over the coming periods leading up to the April 1, 2027, appointed date. The primary shareholder impact will be the dilution from the share issuance, balanced against the anticipated simplification of the corporate structure and potential operational synergies.

Transaction Overview

The Board of Directors of The Indian Hotels Company Limited (IHCL) approved a Scheme of Arrangement on August 24, 2026, for the amalgamation of Oriental Hotels Limited (OHL) into IHCL. The merger is subject to approvals from the National Company Law Tribunal (NCLT), shareholders, creditors, and other relevant regulatory bodies.

Share Exchange Ratio

Upon the scheme becoming effective, the share exchange ratio will be:

Financial Context (as of March 31, 2026)

The following figures provide the standalone audited size of the entities prior to the merger:

Strategic Rationale

Management highlighted several benefits of the proposed amalgamation:

• Operational Synergies: The companies operate in similar business segments with complementary portfolios. OHL has a significant presence in Tamil Nadu, Kerala, and Karnataka.
• Resource Leveraging: OHL will gain access to IHCL's financial resources, management expertise, and broader operating scale.
• Corporate Streamlining: The scheme aligns with IHCL's strategy to reduce the number of operating entities, eliminate duplication, and simplify the management structure to reduce administrative costs.
• Accounting Consolidation: The merger will allow for full accounting consolidation and joint utilization of financial resources.

Shareholding Impact

As of June 30, 2026, IHCL holds a 37.05% equity stake in OHL. The existing shareholding of IHCL and its subsidiaries in OHL will be extinguished immediately following the issuance of new shares as per the scheme. Public shareholders of OHL will become shareholders of IHCL, allowing them to participate directly in the consolidated entity.

Investor Takeaway

This is a material corporate restructuring event. Shareholders should monitor the upcoming NCLT proceedings and regulatory approval timelines. The key focus for investors will be the integration process, the impact on IHCL's consolidated margins, and the long-term benefits of the anticipated operational and cost synergies.

Key Highlights

Important Figures Used

Regulatory and Legal Context

The Indian Hotels Company Limited has informed the stock exchanges regarding an additional penalty claim levied by the Brihanmumbai Municipal Corporation (BMC) concerning the Taj Lands End property in Mumbai. This update follows a previous disclosure made by the company on February 13, 2026.

Management has explicitly stated that there have been no violations committed or alleged. The company is actively disputing the bills raised by the municipal authority.

Impact Assessment

The company confirmed that the financial impact, if any, is limited to the penalty amounts disclosed in this update. Furthermore, management asserted that this regulatory development will have no impact on the operations or other business activities of the company.

What This Means for Investors

This disclosure highlights an ongoing legal and financial dispute regarding statutory property tax compliance for a key asset. While the company has confirmed that business operations remain unaffected, investors should continue to track the resolution of these disputed tax bills, as the cumulative penalty amount represents a potential contingent liability for the organization.

Investor Takeaway

The update provides transparency regarding an ongoing dispute with the local municipal corporation. For shareholders, the key focus should be on the final legal outcome of the property tax dispute. The company’s stance that no violations occurred and that operations are unaffected provides a level of reassurance, but the cumulative penalty figure of ₹103.08 crore remains a notable item to monitor.

Upcoming Investor Meetings

The Indian Hotels Company Limited has provided a schedule of its upcoming engagements with analysts and institutional investors for August 2026. The company plans to participate in the following events:

Routine Disclosure

The company has clarified that this schedule is subject to change. Any updates or changes to these planned meetings may occur due to exigencies on the part of the investors, analysts, or the company itself. These disclosures are part of standard compliance under the SEBI Listing Regulations.

Investor Takeaway

This filing is a routine intimation of management's availability for analyst and institutional investor interactions. Investors should note that while these conferences provide a venue for management discussions, the company has not released any new financial data or strategic updates alongside this schedule. No immediate action is required.

Key Highlights

• Nature of Update: The Indian Hotels Company Limited (IHCL) has published a formal newspaper advertisement.
• Subject: The notice informs shareholders about a special window for the re-lodgement of transfer requests for physical shares.
• Regulatory Context: This disclosure is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Compliance Update

The company has initiated this public communication to streamline the process for shareholders holding shares in physical form. This represents a routine regulatory compliance step under current SEBI Listing Regulations. Shareholders requiring information on how to re-lodge transfer requests are directed to visit the official company website for specific instructions.

What This Means for Investors

This update is purely administrative and procedural. It relates to the management of share records for those holding securities in physical form. It does not reflect any change in the company's financial health, business strategy, or operational performance.

Investor Takeaway

Existing shareholders do not need to take any action unless they hold shares in physical form and are required to re-lodge a transfer request. This is a standard corporate housekeeping notice and carries no material impact on investment value.

ESG Assessment Overview

The Indian Hotels Company Limited has received an Environmental, Social, and Governance (ESG) rating of 77/100 from SES ESG Research Pvt. Ltd. This rating was disclosed by the company following receipt of the information on July 27, 2026.

Assessment Details

Nature of Disclosure

The company has clarified that this assessment is entirely independent. The Indian Hotels Company Limited did not engage SES ESG for this rating. The report was compiled by the agency solely based on publicly available data concerning the company's performance for the fiscal year 2025-26.

What This Means for Investors

This update serves as a procedural disclosure under SEBI Listing Regulations. Investors should note that the rating provided is an external evaluation conducted without the company's involvement or specific input. It represents an unsolicited view of the company's ESG standing based on public records. As such, it does not reflect a change in the company’s internal strategic initiatives, financial guidance, or business operations.

Investor Takeaway

The company has communicated an external ESG rating update as part of its regulatory compliance obligations. Since the rating is unsolicited and based on public information, it provides a third-party perspective on the company's ESG profile but does not directly impact the company's financial or operational performance metrics.

Key Highlights

Financial Snapshot

Profitability Analysis

The company achieved a consolidated EBITDA margin of 31.1% in Q1 2026-27. On a standalone basis, the company reported strong performance with revenue growing 18% and EBITDA growing by 30% to ₹542 crore, yielding an EBITDA margin of 41.8%.

Segment Performance

Management Q&A Highlights

Investor Takeaway

IHCL continues to demonstrate structural strength with 17 consecutive quarters of record growth. Key drivers include sustained domestic demand, particularly in leisure markets, and an asset-light expansion strategy. While international assets faced temporary maintenance headwinds, management expects these to turn positive. Investors should track the company's ability to maintain high-teen management fee growth and the successful ramp-up of the Ginger brand. The strong balance sheet with over ₹4,400 crore in cash provides significant flexibility for future growth.

Key Highlights

• The Indian Hotels Company Limited has completed the mandatory newspaper publication of its unaudited (reviewed) financial results for the quarter ended June 30, 2026.
• Advertisements were released in Financial Express (English) and Loksatta (Marathi) on July 22, 2026.
• The company included a QR code in the advertisements to facilitate immediate access to the full financial statements for interested stakeholders.

Corporate Compliance

This filing adheres to Regulation 30 and Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandate that listed companies publish extracts of their financial results in newspapers to maintain public transparency and accessibility.

What This Means for Investors

This update is a routine compliance step and does not contain new operational or financial developments. It serves to inform the public that the financial statements for the quarter ended June 30, 2026, have been reviewed and filed. Investors seeking a detailed analysis of the quarterly performance should access the full financial reports via the company's official website or the stock exchange platforms, as the newspaper advertisements provide only an extract of the full results.

Investor Takeaway

This announcement is a standard regulatory requirement. No new business-sensitive information was provided in this specific filing. Investors interested in the company's performance for the quarter ended June 30, 2026, should refer to the complete documents available on official portals.

Key Highlights

Regulatory Compliance

The Indian Hotels Company Limited has disclosed the audio recording of its Q1 FY27 earnings conference call in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Accessing the Recording

The audio recording of the earnings call is publicly available on the company’s investor relations website. This resource allows investors to listen to the management discussion, strategic updates, and responses to analyst queries regarding the company's performance for the quarter.

Investor Takeaway

This filing is a routine regulatory update marking the completion of the Q1 FY27 earnings engagement process. Investors interested in understanding the nuances of management’s commentary and the detailed Q&A session from the Q1 results presentation may access the audio file via the company's official website. No new material financial or operational data was disclosed in this specific filing.

Key Highlights

IHCL delivered a strong performance for the first quarter of fiscal year 2027, marking the 17th consecutive record quarter. The results were driven by strong domestic demand, high occupancy levels, and pricing power across its portfolio.

Financial Snapshot: Standalone Performance

Standalone operations recorded significant margin expansion and profit growth, reflecting strong operational control.

Segment Performance

The business segments showed mixed performance, with the hotel business driving the overall growth, while the air catering segment faced specific challenges.

Revenue and Income Analysis

Consolidated revenue from operations grew to ₹2,339 crore, contributing to a total revenue of ₹2,419 crore when combined with non-operating income of ₹80 crore. The revenue growth is attributed to strong enterprise performance and balanced business models across the portfolio.

Profitability and Margin Analysis

Profitability metrics showed broad improvement. Consolidated EBITDA reached ₹753 crore, representing a margin of 31.1%. Consolidated PAT margin stood at 14.8%. The standalone entity demonstrated strong operating leverage, with PAT margin rising to 26.0%.

Operational Metrics

Strong demand in the hospitality sector was reflected in key operating metrics:

• RevPAR: ₹8,400 per night (14% YoY increase).
• TRevPAR: ₹15,800 per night (12% YoY increase).

What Looks Positive

• Record Consistency: 17th consecutive best-ever quarter indicates sustained business momentum.
• Execution Capability: Standalone PAT grew by 38%, significantly outpacing revenue growth, highlighting strong cost management and operational efficiency.
• Digital Adoption: Revenue through digital loyalty initiatives remains a strong contributor to enterprise growth.

Concerns and Watch Points

• Air Catering Segment: Segment EBITDA declined by 10% YoY, impacted by lower air traffic volumes.
• External Headwinds: Management highlighted external factors such as regional conflicts, airline capacity constraints, and rising fuel costs that could impact operational profitability.

What This Means for Investors

The Indian Hotels Company continues to leverage its strong brand presence and diversified portfolio to drive growth. The results highlight the company's ability to convert revenue into profit successfully. While external factors present temporary headwinds, the company's focus on domestic demand and a strong pipeline provides visibility for future performance.

Investor Takeaway

Investors should track the sustainability of the hotel segment's strong demand and the effectiveness of management's efforts to mitigate cost pressures. With double-digit growth guidance for FY27, the primary focus will be on the company's ability to maintain its margin profile and execute on its extensive pipeline of new hotel openings.

Key Highlights

Financial Snapshot

IHCL delivered a strong financial performance in Q1 FY 2027. Consolidated revenue stood at ₹2,419 crore, a 15% increase year-on-year. The consolidated EBITDA was ₹753 crore, representing a 31.1% margin. The company's bottom line saw a 21% increase in consolidated PAT to ₹358 crore.

Standalone operations were particularly strong, with revenue reaching ₹1,298 crore and an EBITDA margin of 41.8%. Management attributed this to 14% RevPAR growth and the contribution of renovated assets in key domestic markets.

Segment Performance

The TajSATS segment continues to perform well, contributing ₹300 crore in revenue with an EBITDA of ₹62 crore (20.6% margin). The 'Growth Businesses' category, which includes Ginger, Qmin, amã Stays & Trails, and Tree of Life, reported a combined Enterprise revenue of ₹350 crore, growing by 65%.

Portfolio and Expansion

IHCL continues to scale its operations, reaching a portfolio of 645 hotels. In Q1 FY 2027, the company signed 20 new properties and opened 11 hotels. Notable new openings include properties in Frankfurt and Kruger National Park (South Africa), alongside domestic additions in Ayodhya and Mumbai. The company maintains an industry-leading pipeline of 263 hotels.

What Looks Positive

• Record Performance: The company achieved its seventeenth consecutive best-ever quarter, demonstrating consistent execution.
• Growth Businesses: Significant scaling is visible in the Growth Businesses portfolio (e.g., Ginger's 68% enterprise revenue growth), providing a diversified revenue stream.
• Operational Leverage: The ability to grow PAT (21%) faster than revenue (15%) suggests strong operational efficiency.
• Strong Balance Sheet: A consolidated gross cash position of ₹4,439 crore provides liquidity and supports ongoing expansion plans.

Concerns and Watch Points

• Macro Headwinds: While the company is performing well, management has explicitly noted that their diversified strategy is essential to offset broader macroeconomic headwinds. Investors should monitor if these external pressures intensify in subsequent quarters.

What This Means for Investors

IHCL's Q1 FY 2027 results highlight a company operating at high efficiency with strong brand recall—Taj was once again crowned India's Strongest Brand. The diversified business model is effectively scaling smaller, high-growth segments (Ginger, TajSATS) while the core standalone business maintains healthy margins. The reaffirmed double-digit growth guidance indicates management's confidence in the demand environment for both business and leisure travel.

Investor Takeaway

IHCL remains in a growth phase, evidenced by its aggressive portfolio expansion and strong quarterly financials. The company's focus on non-hotel segments and diversified brands provides a buffer against cyclical macro risks. For investors, the key items to track include the successful integration of new hotel signings, the continued scaling of growth businesses like Ginger and TajSATS, and the ability to maintain current margin levels in the face of potential macroeconomic volatility.

Key Highlights

• Consolidated Revenue: ₹2,339.19 crore (₹233,919 lakh)
• Consolidated Profit for the period: ₹390.81 crore (₹39,081 lakh)
• Consolidated Earnings Per Share: ₹2.51
• Strategic Acquisition: Completed 51% stake acquisition in Brij Hospitality Private Limited for ₹221.82 crore (₹22,182 lakh).

Financial Snapshot

Revenue and Income Analysis

The company demonstrated consistent growth in revenue across both standalone and consolidated entities. Consolidated revenue increased to ₹2,339.19 crore (₹233,919 lakh) from ₹2,041.08 crore (₹204,108 lakh) in the prior-year period. Standalone revenue also saw an increase, reaching ₹1,232.00 crore (₹123,200 lakh) compared to ₹1,044.59 crore (₹104,459 lakh) in the same quarter last year.

Profitability Analysis

Consolidated profit for the period improved to ₹390.81 crore (₹39,081 lakh) from ₹329.32 crore (₹32,932 lakh) in the corresponding quarter of the previous year. Similarly, standalone profit after tax increased to ₹337.18 crore (₹33,718 lakh) from ₹244.58 crore (₹24,458 lakh).

Corporate Action Details

On April 21, 2026, the company completed the acquisition of a 51% equity stake in Brij Hospitality Private Limited. The aggregate consideration for this transaction was ₹221.82 crore (₹22,182 lakh). The acquisition was executed through a combination of existing shareholder purchases and primary investment via Compulsorily Convertible Preference Shares and partly paid-up equity shares. The group has recognized provisional goodwill of ₹192.76 crore (₹19,276 lakh) in connection with this business combination.

What This Means for Investors

The company has reported sustained growth in its top and bottom lines, indicating a positive trend in its core hoteliering business. Investors should monitor the integration of the newly acquired Brij Hospitality business, as the company has recognized significant goodwill associated with the purchase. The continued reliance on third-party auditors for certain smaller subsidiaries remains a standard operating feature that has been disclosed.

Investor Takeaway

IHCL delivered a strong quarterly performance marked by double-digit growth in consolidated revenue and profit. The strategic investment in Brij Hospitality signals an intent to expand its portfolio in the hospitality space. Investors should watch for performance contributions from this new acquisition in future quarters and the overall sustainability of the current growth trajectory.

Earnings Call Schedule

The Indian Hotels Company Limited has formally announced the schedule for its global conference call to discuss the financial results for the first quarter of the fiscal year 2026-27 (quarter ended June 30, 2026). The call is scheduled for Tuesday, July 21, 2026, at 19:00 P.M. IST.

Access Details

Participants can join the conference call using the provided universal dial-in numbers or via a pre-registration link.

What This Means for Investors

The announcement confirms the timeline for the upcoming financial disclosure. Shareholders and analysts typically use these conference calls to gain management insights into business performance, demand trends, and operational metrics for the quarter. While this filing is procedural and relates to investor relations compliance, it establishes the date by which the company's Q1 FY 2026-27 financial results will be available to the public.

Board Meeting Update

The Indian Hotels Company Limited has formally intimated the stock exchanges regarding a scheduled meeting of its Board of Directors. The board is set to meet on July 21, 2026, to consider and approve the Unaudited (Reviewed) Standalone and Consolidated Financial Results for the quarter ended June 30, 2026.

Trading Window Closure

In compliance with the Company’s Code of Conduct for Prevention of Insider Trading, the trading window for dealing in the Company’s securities was closed effective June 24, 2026. This window will remain closed for all designated persons and their immediate relatives and will reopen 48 hours after the declaration of the financial results.

What This Means for Investors

This announcement is a standard regulatory compliance measure as per Regulation 29(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Investors should note the date of the upcoming financial results announcement, as the company will disclose its performance for the quarter ended June 30, 2026, on July 21, 2026. No financial or operational data has been released at this stage.

Regulatory Compliance Update

The Indian Hotels Company Limited has filed the compliance certificate required under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended June 30, 2026.

Compliance Confirmation

The company has confirmed that the activities regarding the dematerialisation and rematerialisation of securities were conducted in full compliance with SEBI regulations. The Registrar and Transfer Agent (RTA), MUFG Intime India Private Limited, has confirmed that:

• All security certificates received for dematerialisation during the quarter ended June 30, 2026, were duly processed.
• The certificates were mutilated and cancelled after verification.
• The register of members was updated with the names of the depositories within the prescribed timelines.

Investor Takeaway

This filing is a routine procedural requirement for listed companies to ensure the integrity of the share dematerialisation process. There are no financial implications, changes in shareholding structure, or operational shifts associated with this disclosure. Investors should note this as standard governance and compliance activity.

Key Highlights

IHCL demonstrated steady growth in Q1 FY 2027, maintaining its expansion momentum across its brandscape. The company reached a total portfolio of 645 hotels.

Portfolio Composition

As of June 30, 2026, the portfolio is diversified across various brands, with a focus on both operational properties and future pipeline.

Strategic Developments

Management reiterated the 'Accelerate 2030' strategic roadmap, which targets a total portfolio of 700 hotels. The current additions across Gateway, Ginger, and Tree of Life are aligned with this objective. Additionally, the Taj brand achieved a significant milestone, reaching 150 hotels in its portfolio.

International and Regional Expansion

International growth continued with the opening of Taj Hessischer Hof in Frankfurt and Taj Bush Lodge in Greater Kruger, South Africa. Domestic expansion targeted both emerging and established markets, including Mumbai, Goa, Agra, Kolkata, and smaller centers like Bharatpur, Trichy, and Siwan.

Management Commentary

• Growth Focus: Management highlighted that 17 out of the 20 new signings this quarter were concentrated within the Gateway, Ginger, and Tree of Life brands.
• Execution: The company successfully expanded its operating footprint to over 380 hotels.

What Looks Positive

• Growth Momentum: The addition of 20 new signings in a single quarter reflects strong business development activity.
• Brand Strength: The Taj brand achieved the 150-hotel portfolio milestone.
• Strategic Clarity: Clear targets under the 'Accelerate 2030' roadmap provide visibility into future scale.

Investor Takeaway

IHCL continues to execute its expansion strategy effectively, as evidenced by consistent signings and openings. The growth in the portfolio to 645 hotels and the successful advancement toward the 700-hotel target are key indicators of operational health. Investors should monitor the conversion of the 263-hotel pipeline into operational properties and the continued brand-wise growth trends as the company pursues its long-term roadmap.

📊 Performance Summary

• Reporting Period(s): Quarter and Year ended March 31, 2026 (Approval pending).

✅ What Looks Positive

No clear positives visible in provided data.

⚠️ Risk Alerts & Concerns

No clear risks visible in provided data.

🧠 Investor Takeaway

This document is a formal announcement regarding a scheduled board meeting on May 11, 2026. No financial performance data, such as revenue or profit, has been disclosed at this time. Investors should monitor for the publication of the audited results and potential dividend details following the conclusion of that meeting.

Summary

• The Indian Hotels Company Limited (IHCL) has confirmed its compliance with SEBI regulations for the quarter ended March 31, 2026.
• This certification relates to the furnishing of details regarding securities dematerialised and rematerialised to all stock exchanges where IHCL shares are listed.
• The company confirmed that these details were submitted within the timelines stipulated by SEBI (Depositories and Participants) Regulations, 2018.

Key Numbers & Dates

• Quarter Period Covered: Quarter ended March 31, 2026
• Confirmation Letter Date (IHCL): April 13, 2026
• Confirmation Letter Date (RTA MUFG): April 3, 2026

Summary

• The Indian Hotels Company Limited (IHCL) has accelerated its portfolio expansion, reaching a total of 628 hotels.
• The company achieved this growth through both inorganic acquisitions and sustained organic development.
• IHCL now has 373 hotels operating and maintains a robust pipeline of 255 hotels.

Key Numbers & Dates

• Total Hotels Portfolio: 628 hotels (as of March 31, 2026).
• Operating Hotels: 373 hotels (as of March 31, 2026).
• Pipeline Hotels: 255 hotels (as of March 31, 2026).
• Hotel Signings (FY26): 250 signings.
• Hotels Opened (FY26): Over 30 hotels.
• Hotels Acquired (FY26): Over 100 operating hotels added through acquisitions.
• Total Rooms: Over 33,000 rooms.
• Target Portfolio Goal: To reach 700 hotels under the 'Accelerate 2030' strategy.
• Portfolio Reach: Across 4 continents, 14 countries, and over 250 locations.
• Announcement Date: April 7, 2026.

What Changes for the Business

• IHCL has strengthened its presence in the luxury segment with the onboarding of Claridges Collection and acquisition of stakes in Atmantan (integrated wellness) and Brij hospitality (experiential leisure).
• The midscale segment, led by Ginger, has expanded with acquisitions of majority stakes in ANK and Pride hospitality, growing its portfolio to over 250 hotels across 150+ locations.
• The company entered new markets like Lakshadweep, Ekta Nagar, Raichak, Kanpur, Vrindavan, and Bhutan.
• IHCL also strengthened its presence in established markets such as Goa, Ahmedabad, Coorg, Kochi, Gurugram, Delhi, Varanasi, Udaipur, Haridwar, and Dehradun.

What to Track Next

• Progress towards IHCL's 'Accelerate 2030' strategy, aiming for a 700-hotel portfolio.

The Indian Hotels Company Limited has issued a newspaper advertisement on April 1, 2026, in Financial Express (English) and Loksatta (Marathi). This announcement details the opening of another special window for re-lodging transfer requests of physical shares. The action is taken pursuant to Regulation 30 read with Schedule III Part A Para A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Further information is available on the company's website, www.ihctata.com.

Summary

• The Indian Hotels Company Limited has announced the closure of its trading window.
• The closure is effective from March 25, 2026.
• This is to facilitate the announcement of the company's financial results for the quarter and financial year ending March 31, 2026.
• The trading window will reopen 48 hours after the financial results are declared.

Key Numbers & Dates

• Trading Window Closure Starts: March 25, 2026
• Financial Year End: March 31, 2026
• Trading Window Reopens: 48 hours after financial results declaration

What to Track Next

• The date of the Board Meeting for the approval of the Financial Results will be intimated.

News Crux

The Indian Hotels Company Limited (IHCL) has received an upgrade in its long-term credit rating for fund-based facilities from ICRA to AAA (Stable) from AA+ (Stable). The agency also reaffirmed the short-term rating at A1+. This upgrade reflects the strengthening of IHCL's business and financial risk profiles, its dominant position in the Indian hospitality industry, robust operating performance, and the strong support from its parent, Tata Sons.

Guidance & Strategy

ICRA expects IHCL's revenue growth and margins to remain healthy going forward, albeit vulnerable to exogenous shocks. The company is strategically expanding through an asset-light model, aiming to increase its share of management contracts. IHCL plans to grow its portfolio to over 700 hotels by FY2030, supported by its strong brand equity and diversification across segments and geographies.

Financial Deep Dive

IHCL reported a consolidated operating income CAGR of 40% over FY2022-FY2025. For 9M FY2026, operating income grew 17.2% YoY to Rs. 6,923.9 crore. Consolidated operating margins have significantly improved to 33.2% in FY2025 and 32.1% in 9M FY2026, compared to pre-Covid levels of 21.7% in FY2020. The company has a strong liquidity position, with anticipated annual operating cash flow of Rs. 2,100-2,200 crore and unencumbered cash and liquid investments exceeding Rs. 3,500 crore as of December 31, 2025. Capex is projected at Rs. 1,500 crore annually for greenfield projects, renovations, and maintenance.

⚠️ Investor Risks & Governance

A significant credit challenge noted is the ongoing lease rental dispute with the Mumbai Port Trust (MPT) concerning the Taj Mahal Palace & Tower, Mumbai. MPT has claimed an additional rent of Rs. 1,874.0 crore from FY2007, which IHCL contests. While IHCL has substantial liquidity, an adverse verdict could result in a significant cash outflow.

Key Events

The primary event is the upgrade of The Indian Hotels Company Limited's long-term credit rating by ICRA to AAA (Stable) and the reaffirmation of its short-term rating at A1+.

Outlook

ICRA has assigned a Stable outlook on the long-term rating, anticipating that IHCL's credit profile will remain strong due to its market position, cash accruals, and strong liquidity amid a favourable industry outlook.

News Crux

This announcement details The Indian Hotels Company Limited's (IHCL) earnings call for the quarter and nine months ended December 31, 2025. The company reported its 15th consecutive quarter of record performance, highlighting its highest-ever quarterly Profit After Tax (PAT) and strong revenue growth, supported by strategic acquisitions and a robust development pipeline. Management provided a positive outlook for FY26-27, projecting continued double-digit revenue expansion.

Quarterly Results

On a consolidated basis for Q3 FY26:

• Revenue grew 12% year-on-year to INR 2,900 crores.
• EBITDA grew 11% year-on-year to INR 1,134 crores, yielding an EBITDA margin of 39.1%.
• PAT before exceptional items grew 15% year-on-year to INR 668 crores, marking the highest-ever quarterly PAT in IHCL's history.
• The hotel segment's quarterly EBITDA crossed INR 1,000 crores for the first time, with a 40.7% EBITDA margin.

On a standalone basis for Q3 FY26:

• Revenue grew 9% year-on-year to INR 1,654 crores.
• EBITDA margin expanded by 40 basis points to 48.2%.
• PAT before exceptional items grew 13% to INR 529 crores, with a PAT margin of 32%.

For the nine months ended December 31, 2025 (9M FY26):

• Consolidated revenue grew 17% year-on-year.
• EBITDA margin stood at 34%.

The company also noted approximately INR 20-25 crores in one-off expenses during the quarter related to acquisitions and GST, which impacted reported EBITDA growth.

Guidance & Strategy

IHCL outlined a multi-pronged strategy for sustained growth:

• Diversification: Emphasizing a balanced brand architecture (Taj, Ginger, Qmin, etc.) and geographic mix (domestic cities, leisure, international).
• Capital-Light Model: 68% of operational keys are on a capital-light model, and 94% of the 30,200-key pipeline is managed, reducing balance sheet intensity.
• Portfolio & Pipeline: A total portfolio of 617 hotels (32,300 operational keys, 30,200 under development) provides multi-year growth visibility.
• Acquisitions & Divestments: Completed 51% stake acquisitions in ANK, Pride, and Atmantan, signed agreement for Brij. Divested stake in TAJGVK for INR 592 crores cash, while retaining management contracts. Acquisitions are expected to contribute INR 250-300 crores to consolidated topline in FY26-27.
• Mid-Scale Expansion: Ginger portfolio to grow significantly post-migration of ANK and Pride hotels.

Outlook & Projections:

• Revenue Growth: Double-digit revenue growth projected for FY26 and FY27. Q4 FY26 topline growth estimated at 12-14%.
• RevPAR Growth: Expected to be around 9-10% in Q4 FY26. Domestic RevPAR growth of 8.5-10% over the portfolio is realistic, with non-like-for-like growth contributing significantly.
• Management Fee Income: Expected to grow in the high teens, driven by 60+ openings in FY27.
• New Businesses (Ginger, Qmin, etc.): Expected to deliver 25%+ revenue growth.
• TajSATS: Continued growth trajectory projected.
• Acquisitions (Brij, Atmantan): Expected to deepen presence in niche segments. Atmantan projected to generate INR 100 Cr revenue in FY27 with high margins. Brij to also contribute INR 100 Cr in FY27.
• CAPEX: INR 1,000 crores planned for this year, with a similar outlay expected for the next year. Potential increase in 2-3 years due to Bandstand project.
• Taj Bandstand: Expected to contribute INR 1,000+ crores to topline upon stabilization with ~50% EBITDA margins.

Financial Deep Dive

• Balance Sheet: Gross cash reserves of over INR 3,800 crores mentioned. The company has no debt.
• Cash Flow: Operating cash flows are expected to be significantly ahead of CAPEX, providing flexibility for inorganic opportunities.
• CAPEX: INR 1,000 crores planned for the current year, with a similar outlay expected for the next year, potentially increasing in 2-3 years as the Bandstand project scales up.
• Exceptional Items: INR 20-25 crores identified as one-offs, primarily related to acquisition costs (legal, deal expenses) and GST.

⚠️ Investor Risks & Governance

No explicit auditor qualifications, legal notices, promoter pledging, or governance issues were mentioned in the transcript that would warrant inclusion in this section as per the strict guidelines. The company reported a record performance and has a strong balance sheet.

Key Events

• Acquisitions: Completed 51% stake acquisitions in ANK, Pride, and Atmantan. Signed definitive agreement to acquire 51% stake in Brij.
• Divestment: Divested stake in TAJGVK for INR 592 crores.
• New Hotels: Signed contract for a 250+ room hotel in Yelahanka. Taj Frankfurt scheduled to open in Q1 FY27. Two safari lodges at Kruger National Park planned for Q1 and Nov FY27.
• Renovations: Significant renovations underway or completed at London property, Taj Palace (Delhi), Taj Mahal Palace (Colaba), Mansingh, and The Chambers. These are expected to drive future revenue and margins.
• US Assets: New York asset crossed INR 100 crores revenue in December and achieved cash profit. San Francisco also performed well. Negotiations ongoing for the New York asset.

Outlook

IHCL is optimistic about the future, projecting sustained double-digit revenue growth for FY26 and FY27, driven by multiple levers including like-for-like revenue growth, a strong pipeline, growing management fee income, expansion of new business verticals, strategic acquisitions, and favorable demand-supply dynamics. The company expects continued margin strength and improving quality of earnings. The first six weeks of Q4 FY26 performance reinforce this optimism.

Purity Flexpack Limited announced the newspaper publication of its unaudited financial results for the quarter ended December 31, 2025, in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Concurrently, The Indian Hotels Company Limited has published an extract of its standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. This report includes detailed financial data such as total income, net profit, and EPS, approved by the Board of Directors on February 12, 2026.

News Crux

Indian Hotels Company (INDHOTEL) has filed an intimation with the stock exchanges regarding its schedule of upcoming meetings with investors and analysts.

Key Events

The company has outlined the following schedule for investor interactions in February 2026:

• February 19 & 20, 2026: Investor Meetings & Roadshow in London. These will be physical, full-day sessions comprising one-on-one and group meetings.
• February 25, 2026: Participation in the Kotak Chasing Growth Conference. This will also involve physical, full-day one-on-one and group meetings.
  The schedule is subject to change based on exigencies.

News Crux

Indian Hotels Company (INDHOTEL) has disclosed a penalty levied by the Brihanmumbai Municipal Corporation (BMC) on outstanding property taxes for its Taj Lands End property. An additional penalty of Rs. 4.29 Cr has been claimed, bringing the total disputed penalty to Rs. 97.57 Cr. The company disputes this claim on merit.

Financial Deep Dive

The financial impact of the BMC penalty is quantifiable to the extent of the disclosed amount, totaling Rs. 97,56,95,340/-. Management has stated there will be no impact on operations or other activities of the Company.

⚠️ Investor Risks & Governance

• A significant penalty of Rs. 97,56,95,340/- has been levied by the Brihanmumbai Municipal Corporation (BMC) on property taxes.
• The company disputes this penalty on merit, asserting that property tax payments have been made in accordance with Supreme Court/High Court orders. This indicates a potential ongoing dispute or litigation.

Key Events

Disclosure of penalty levied by Brihanmumbai Municipal Corporation (BMC) on outstanding property taxes for the Taj Lands End property, Mumbai.

The Indian Hotels Company Limited has officially published its un-audited (reviewed) standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. These financial updates were advertised today in the Financial Express (all India Edition) and Loksatta (Mumbai Edition). The publications include QR codes and web links to access the full financial statements for the period.

Indian Hotels Company Limited (IHCL) has formally communicated to the stock exchanges, BSE Limited and the National Stock Exchange of India Limited, regarding the availability of the audio recording of its Global Conference Call. This conference call was held on February 12, 2026, to discuss the Un-audited (Reviewed) Standalone and Consolidated Financial Results for the quarter and nine months ended December 31, 2025.

Pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has made the audio recording accessible on its website at https://ir.ihcltata.com/media/eghdce10/ihcl-earnings-call-q3f26_recording.mp3. This announcement follows their prior intimation on February 5, 2026, concerning the schedule of the conference call. The company requested the exchanges to take this information on record.

The Indian Hotels Company Limited (INDHOTEL) has formally announced a planned succession for its key corporate governance role. Mr. Beejal Desai, who has been serving as the Executive Vice President - Corporate Affairs & Company Secretary (Group), is set to superannuate from his position on February 12, 2026. This marks the end of his tenure with the company.

In anticipation of Mr. Desai's superannuation, the Board of Directors of The Indian Hotels Company Limited, following the recommendations of the Nomination and Remuneration Committee, has appointed Ms. Melisa Alva to assume the responsibilities of Company Secretary and Compliance Officer. Ms. Alva's appointment will be effective from February 13, 2026. She is set to step into this crucial role, ensuring continuity in the company's compliance and secretarial functions.

Ms. Alva brings with her a robust profile and extensive experience in the field of corporate governance and law. She is an Associate Member of The Institute of Company Secretaries of India and holds a Bachelor of Law degree and a Master of Commerce degree from the University of Mumbai. Her professional background spans over a decade, focusing on company law, governance, and compliance. Prior to her appointment at Indian Hotels, Ms. Alva was associated with Tata Steel Limited, where she gained valuable experience in managing corporate secretarial duties and regulatory adherence.

The announcement is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided the prescribed details regarding the change, including Ms. Alva's brief profile and the effective dates of cessation and appointment. This transition is a standard part of corporate succession planning and is not expected to have any direct impact on the company's operational performance, financial results, or future outlook.

Indian Hotels Company Limited (IHCL) announced its Q3 FY26 financial results, showcasing strong operational and financial performance characterized by revenue growth and margin expansion across its hotel and air catering segments. The company detailed its diversification strategy across brands and geographies, highlighted an industry-leading pipeline of hotels, and presented its strategic initiatives including significant acquisitions. For Q3 FY26, consolidated revenue grew 12% YoY to ₹2,900 Cr, with EBITDA rising 11% to ₹1,134 Cr, maintaining an EBITDA margin of 39.1%. Notably, the hotel segment's EBITDA crossed ₹1,000 Cr for the first time. The 9MFY26 performance saw consolidated revenue increase by 17% YoY to ₹6,924 Cr. The company's management expressed confidence in achieving double-digit revenue growth for both FY26 and FY27, driven by key levers such as RevPAR expansion, continued momentum in TajSATS, integration of recent acquisitions, and accelerated growth in its Ginger and New Business segments. Financially, consolidated free cash flow for YTD Dec was ₹804 Cr. Key strategic events included the completion of acquisitions for SIPL and ANK & Pride, a definitive agreement for Brij, and the divestment of stake in TajGVK. The outlook remains positive, with IHCL focusing on building scale with profitability and leveraging its extensive pipeline to capitalize on favourable market dynamics.

The Indian Hotels Company Limited (IHCL) announced its consolidated financial results for the third quarter and nine months ended December 31, 2025, marking its fifteenth consecutive quarter of record performance. For Q3 FY2026, consolidated revenue grew by 12% year-on-year to INR 2,900 Crores. EBITDA increased by 11% YoY to INR 1,134 Crores, maintaining a healthy EBITDA margin of 39.1%. Profit After Tax (PAT) saw a significant jump of 55% YoY to INR 903 Crores. This PAT figure includes exceptional items primarily comprising a profit on the sale of an entire equity stake in a joint venture company amounting to INR 327 Crores (net of tax) and an impact related to New Labour Codes of INR 37 Crores (net of tax).

For the nine months ended December 31, 2025, consolidated revenue increased by 17% YoY to INR 7,127 Crores, with EBITDA up 16% YoY to INR 2,425 Crores, and a consolidated EBITDA margin of 34.0%. PAT for the nine-month period stood at INR 1,485 Crores, showing a 7% increase YoY. It is noted that the previous year's nine-month PAT included a one-time exceptional gain of INR 307 Crores from TajSATS consolidation.

On a standalone basis for Q3 FY2026, IHCL reported revenue of INR 1,654 Crores, with a strong EBITDA margin of 48.2%, an expansion of 40 basis points, and a PAT of INR 921 Crores post exceptional items.

Management commentary highlighted that the Q3 revenue growth was driven by robust same-store performance, alongside a 17% growth in airline and institutional catering and a 31% growth in New Businesses. The hotel segment alone reported revenue of INR 2,579 Crores, leading to the best-ever quarterly EBITDA of INR 1,050 Crores.

IHCL continued its portfolio expansion momentum, signing 239 hotels year-to-date to reach a total portfolio of 617 hotels, with an industry-leading pipeline of 256 hotels. Strategic initiatives under Accelerate 2030 included acquiring a controlling stake in Atmantan, an integrated wellness brand, and definitive agreements to acquire a 51% stake in Brij, a boutique experiential leisure offering. The company also scaled the Ginger brand with a 51% acquisition in ANK & Pride Hospitality.

Financially, IHCL maintained a healthy balance sheet with a gross cash balance of INR 3,877 Crores as of December 31, 2025. Over the nine months ended December 2025, IHCL Consolidated generated cash of approximately INR 1,600 Crores. Capital expenditure to the tune of INR 750 Crores was undertaken towards greenfield projects (Ekta Nagar, Taj Frankfurt), brownfield expansion (Taj Ganges Varanasi), and renovations of key hotels.

The company reported 9% RevPAR growth for its consolidated same-store hotels and a 15% growth in Management Fee income. The Air & Institutional Catering business (TajSATS) clocked revenue of INR 323 Crores, a 17% growth, with an EBITDA margin of 26%. New Businesses, comprising Ginger, Qmin, amã Stays & Trails, and Tree of Life, reported an enterprise revenue of INR 316 Crores (39% growth) and consolidated revenue of INR 215 Crores (31% growth). Ginger's enterprise revenue was INR 232 Crores with a strong EBITDAR margin of 47%. The management expressed confidence in delivering sustained performance, attributing it to a diversified topline across brands, geographies, and contract types.

The Indian Hotels Company Limited (IHCL) announced its un-audited (reviewed) financial results for the quarter and nine months ended December 31, 2025.

Standalone Performance:
For the third quarter of fiscal year 2026 (Q3 FY26), IHCL reported revenue from operations of ₹161,384 lakhs, a year-on-year (YoY) increase of 9.51% compared to ₹147,361 lakhs in Q3 FY25. Profit After Tax (PAT) saw a significant jump of 96.38% YoY, reaching ₹92,060 lakhs in Q3 FY26, from ₹46,877 lakhs in Q3 FY25. This substantial growth in PAT was heavily influenced by exceptional items totaling ₹43,346 lakhs, primarily comprising profit on the sale of its entire equity stake in a joint venture company (Taj GVK Hotels & Resorts Ltd.), partly offset by other expenses. Basic and Diluted Earnings Per Share (EPS) rose by 96.06% YoY to ₹6.47 in Q3 FY26 from ₹3.30 in Q3 FY25. On a quarter-on-quarter (QoQ) basis, revenue grew by 52.17% and PAT by 218.45%.

Consolidated Performance:
On a consolidated basis, IHCL's revenue from operations for Q3 FY26 stood at ₹284,196 lakhs, an increase of 12.19% YoY from ₹253,305 lakhs in Q3 FY25. The profit for the period attributable to owners of the company was ₹90,323 lakhs, marking a 55.11% YoY growth from ₹58,232 lakhs in Q3 FY25. Exceptional items for the consolidated entity amounted to ₹27,551 lakhs in Q3 FY26. Consolidated Basic and Diluted EPS grew by 55.26% YoY to ₹6.35 in Q3 FY26 from ₹4.09 in Q3 FY25. QoQ, consolidated revenue grew by 39.25% and profit attributable to owners by 136.47%.

Key Events:
During the quarter, IHCL completed strategic acquisitions. On December 1, 2025, its wholly-owned subsidiary, Roots Corporation Limited, acquired a 51% stake in ANK Hotels Private Limited for ₹10,929 lakhs and Pride Hospitality Private Limited for ₹8,118 lakhs, for a total cash consideration of ₹19,047 lakhs. These entities have now become step-down subsidiaries. Additionally, during December 2025, the company divested its entire equity stake in Taj GVK Hotels & Resorts Limited, a joint venture.

The financial results were reviewed by the statutory auditors and approved by the Board of Directors on February 12, 2026. No forward-looking guidance was provided in this announcement.

The Indian Hotels Company Limited (IHCL) announced its un-audited financial results for the quarter and nine months ending December 31, 2025 (Q3 FY26). The company reported significant year-on-year growth in both revenue and profit, with the latter being substantially influenced by exceptional items.

Quarterly Results (Q3 FY26 vs. Q3 FY25)

• Standalone: Revenue from operations increased by approximately 9.5% year-on-year (YoY) to ₹1613.84 Cr. Profit After Tax (PAT) saw a remarkable jump of about 96.4% YoY to ₹920.60 Cr. Standalone Basic and Diluted Earnings Per Share (EPS) rose from ₹3.30 to ₹6.47.
• Consolidated: Revenue from operations grew by approximately 12.17% YoY to ₹2841.96 Cr. Consolidated PAT surged by about 50.8% YoY to ₹954.24 Cr. Consolidated Basic and Diluted EPS increased from ₹4.09 to ₹6.35.

Nine Months Results (Q1-Q3 FY26 vs. Q1-Q3 FY25)

• Standalone: Revenue increased by approximately 8.1% YoY to ₹3718.92 Cr, and PAT grew by 56% YoY to ₹1454.30 Cr.
• Consolidated: Revenue increased by approximately 17.17% YoY to ₹6923.93 Cr, and PAT grew by 24.3% YoY to ₹1898.12 Cr.

Financial Highlights

• Exceptional Items: A significant driver for the PAT increase in Q3 FY26 was the profit from the sale of IHCL's entire equity stake in the joint venture, Taj GVK Hotels & Resorts Limited, on December 19, 2025. This transaction contributed ₹550.12 Cr to standalone exceptional items and ₹398.83 Cr to consolidated exceptional items. Other exceptional items include impacts from the new Labour Codes and various provisions.
• Acquisitions: On December 1, 2025, Roots Corporation Limited, a wholly-owned subsidiary of IHCL, acquired 51% stakes in ANK Hotels Private Limited and Pride Hospitality Private Limited for a total cash consideration of ₹190.47 Cr. This resulted in the recognition of consolidated goodwill amounting to ₹220.63 Cr.
• Balance Sheet & Cash Flow: Specific details regarding the balance sheet and cash flow statement were not provided in this financial results disclosure.
• Guidance & Outlook: The announcement did not include any forward-looking guidance or management outlook.

TAJGVK Hotels & Resorts Limited has informed the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) on February 9, 2026, regarding a significant corporate action concerning its promoter group. The company's Board of Directors, in a meeting held on the same day, approved the request for re-classification of The Indian Hotels Company Limited (IHCL), a promoter group entity, from its current promoter status to that of a 'Public Shareholder'.

This development is a consequence of IHCL's previous divestment. As previously communicated on December 30, 2025, IHCL had completed the sale of its entire 25.52% equity stake in TAJGVK Hotels & Resorts Limited to other promoter group entities through an inter-se promoter transfer. Concurrently, the shareholders' agreement that was in place between the GVK shareholders and IHCL was terminated.

Following these actions, IHCL submitted a formal request to TAJGVK Hotels & Resorts Limited via a letter dated December 30, 2025, seeking its re-classification from the promoter category to the public category. TAJGVK's intimation to the exchanges further confirms that IHCL and any persons related to IHCL collectively do not meet the criteria for promoter status as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Specifically, IHCL confirmed that they do not together hold more than 10% of the total voting rights in the company, nor do they exercise control over the company's affairs directly or indirectly. They also confirmed the absence of any special rights, representation on the Board of Directors (including nominee directors), or roles as Key Managerial Personnel. Furthermore, IHCL attested that it is not a 'wilful defaulter' as per RBI guidelines and not a fugitive economic offender.

TAJGVK Hotels & Resorts Limited has formally requested the stock exchanges to consider and approve this change in the classification of The Indian Hotels Company Limited from a promoter group shareholder to a public category shareholder. This filing is for the information and records of the regulatory bodies.

IHCL Q3 FY2025-26 Results Conference Call Announcement

Indian Hotels Company Limited (IHCL) has formally announced the schedule for its global conference call to present the financial results for the third quarter of the Financial Year 2025-26. The call is set to take place on Thursday, February 12, 2026, at 7:00 PM IST.

This intimation, filed with BSE Limited and the National Stock Exchange of India Limited, adheres to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company will upload the presentation for the results on its website in due course. Dial-in details for global and local participants are provided, enabling investors to connect with the management and discuss the financial performance and outlook for the period.

The Indian Hotels Company Limited (IHCL) has announced significant expansion in its hotel portfolio, reaching a total of 615 hotels. This includes 360 hotels currently in operation and a pipeline of 255 hotels. This growth is driven by its strategic plan, 'Accelerate 2030', which aims to achieve a portfolio of 700 hotels.

Key strategic developments highlighted include IHCL's acquisition of a controlling stake in Atmantan, marking its entry into the integrated wellness segment. Additionally, the company has entered into definitive agreements to acquire a 51% stake in Brij, a boutique experiential leisure offering.

The company has seen substantial signings across its various brands. The flagship Taj brand is expanding its presence in metro cities like Bengaluru and NCR, and internationally in Sri Lanka and Egypt. Other brands like Gateway, Tree of Life, and Ginger have also reported signings in multiple locations across India. Recent hotel openings further bolster IHCL's operational capacity, with new properties added under the Taj, SeleQtions, Brij, Tree of Life, Vivanta, and Ginger brands in diverse locations.

IHCL's portfolio breakdown as of January 31, 2026, shows the Taj brand leading with 144 hotels (91 operating, 53 pipeline), followed by Ginger with 265 hotels (158 operating, 107 pipeline), and other brands contributing significantly to the overall count. The company aims to leverage these expansions to achieve its long-term portfolio goals.

BSE Limited has formally notified the stock exchanges, BSE and NSE, of an upcoming Board Meeting scheduled for February 12, 2026. The primary agenda for this meeting is to consider and adopt the un-audited (reviewed) standalone and consolidated financial results for the third quarter and the nine-month period ending December 31, 2025. The meeting will also include the review of the limited review report associated with these financial statements.

In accordance with the Tata Code of Conduct for Prevention of Insider Trading, the company has also intimated its Designated Persons regarding the closure of the trading window. This window commenced on December 25, 2025, and will be reopened 48 hours after the financial results are officially made public.

This announcement serves as a procedural notification, providing investors with the date for the upcoming financial results release. No financial figures, performance metrics, guidance, or specific operational updates are part of this intimation.

Indian Hotels Company Limited (IHCL) has submitted a regulatory certificate to the National Securities Depository Limited and Central Depository Services (India) Ltd., as well as to the BSE and NSE, confirming compliance with SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended December 31, 2025. The certificate, issued by MUFG Intime India Private Limited (formerly Link Intime India Private Limited), its Registrar and Share Transfer Agent, attests that securities received for dematerialization were processed, confirmed, and listed on the stock exchanges. It also confirms that security certificates received for dematerialization were mutilated and cancelled, with the names of depositories substituted in the register of members within the prescribed timelines. This filing is a routine regulatory requirement and does not provide insights into the company's financial performance, operational updates, or future guidance.

The Indian Hotels Company Limited (IHCL) has announced the completion of its acquisition of approximately 51% of the issued and paid-up share capital of Sparsh Infratech Private Limited (SIPL) for a total consideration of ₹232 Crores. This strategic transaction, finalized on January 16, 2026, marks IHCL's formal entry into the integrated wellness segment. Sparsh Infratech Private Limited is the owner and operator of the luxury health and wellness resort named 'Atmantan', located at Mulshi, Maharashtra. The company provides integrated preventive healthcare, lifestyle management, hospitality services, and therapeutic services. As a result of this share acquisition, SIPL has now become a subsidiary of IHCL, adhering to SEBI Listing Regulations. For the fiscal year 2024-25, SIPL reported a turnover of ₹76.7 crores, an EBITDA of ₹37.2 crores, and an EBIT of ₹29.4 crores. SIPL was established in 2007 and operates primarily in India. Historical turnover figures show ₹64.7 Cr in FY24 and ₹49.7 Cr in FY23. The acquisition involved cash consideration and has been confirmed to not fall within related party transactions, with no interest from the promoter, promoter group, or group companies in the target entity. This move is aligned with IHCL's overall growth strategy, building upon its portfolio and expanding into high-demand segments.

IHCL (Indian Hotels Company Limited) announced a strategic partnership via an investor update on January 15, 2026, detailing its plan to acquire a 51% stake in Brij Hospitality Pvt Ltd. This move is positioned as a significant step into the experiential leisure market, specifically targeting the boutique luxury segment. Brij Hospitality brings a portfolio of 11 operational hotels and 145 keys, with an additional 11 pipeline hotels comprising 295 keys, complementing IHCL's existing brands like 'Tree of Life'. The transaction structure involves a primary investment of approximately ₹105-140 crore and a secondary share purchase of about ₹85 crore, for a total investment of up to ₹225 crore in the target company. IHCL will leverage its extensive sales and distribution backbone, Tata Neu Loyalty program, and aims for revenue and operational synergies. Proforma financials for Brij Hospitality show projected revenues scaling from ₹60 crore in FY25 to ₹90-100 crore in FY27E, with EBITDAR margins of 30% in FY25 growing to 37-38% in FY27E, and EBITDA projected to rise from ₹2 crore in FY25 to ₹10-11.5 crore in FY27E. The implied deal multiples are around 10.5x to 11.5x EV/EBITDA for FY27E based on a sum-of-the-parts approach, which also includes an NPV for future pipeline and branded residences/management contracts. The presentation indicates a robust growth outlook for Brij Hospitality, with revenues expected to scale in line with its pipeline development.

SKF India Limited has disclosed a violation of its Code of Conduct for Prevention of Insider Trading, as per SEBI (Prohibition of Insider Trading) Regulations, 2015. A designated person, Ms. Prajakta Kad, traded the company's equity shares in December 2025 and executed a contra-trade within six months, contravening the regulations. The company has initiated necessary steps, including issuing a show cause notice and receiving a reply from the individual. The matter will be presented before the ensuing Audit Committee meeting for further action.

In terms of financial performance, the company's Q2 FY26 results showed consolidated revenue growth of 5.21% year-on-year, reaching INR 13,090.6 million. Profit After Tax (PAT) saw a significant increase of 25.52% YoY to INR 1,182.3 million. Standalone PAT also rose by 12.19% YoY to INR 1,058.5 million. These results were achieved despite incurring INR 257.4 million in demerger expenses. The demerger of the Industrial Business into SKF India (Industrial) Limited became effective from October 1, 2025, with the company progressing on its strategic restructuring initiatives, including planned investments for future growth in both its industrial and automotive segments. The company also announced management and board level changes effective January 2026.

Benares Hotels Limited (BHL) announced its financial results for the third quarter and nine months ending December 31, 2025, reporting year-on-year growth in revenue and profit. For Q3 FY26, revenue stood at INR 42.7 Cr, a 6.5% increase from INR 40.1 Cr in Q3 FY25. EBITDA for Q3 FY26 was INR 20.6 Cr, up 3.5% YoY from INR 19.9 Cr in Q3 FY25, with a strong EBITDA margin of 48%. Profit After Tax (PAT) for Q3 FY26 was INR 14.2 Cr, a 4.4% increase from INR 13.6 Cr in Q3 FY25. For the nine months ended December 31, 2025 (9M FY26), revenue grew 5.3% YoY to INR 95.0 Cr from INR 90.2 Cr in 9M FY25, with PAT at INR 27.9 Cr, up 2.6% YoY from INR 27.2 Cr in 9M FY25. The Chairman stated that the revenue performance was enabled by a 6% RevPAR increase primarily led by rate growth. The company also announced that Taj Ganges’s new wing, comprising 100 rooms, will be operational in February 2026, expected to drive future growth. Continued strong brand recognition for Taj was also highlighted.

Indian Hotels Company Limited (IHCL) announced on December 30, 2025, the completion of the sale of its entire 25.52% shareholding in Taj GVK Hotels & Resorts Limited (Target Company) to Ms. Shalini Bhupal for approximately ₹592 crore. The transaction was executed at a price of ₹370 per share.

This divestment signifies a strategic shift in IHCL's approach, aligning with its 'Accelerate 2030' roadmap and its objective to increase its capital-light inventory to 67%. The sale leads to the termination of the Restated and Amended Shareholders’ Agreement (RSHA) and the Name and Trademark License Agreement between IHCL and the Target Company. Consequently, IHCL's nominee directors have stepped down from the Board of the Target Company, and the Target Company is required to discontinue the usage of the 'Taj' name from its corporate name.

Financially, the Target Company contributed ₹25.32 crore (0.30% of consolidated revenue) through management fees in FY24-25. IHCL's share of profit from this joint venture was ₹29.09 crore in FY24-25. The company has confirmed that this transaction is not a related party transaction post-sale and is conducted at arm's length.

Despite the divestment, IHCL will continue to manage the existing portfolio of hotels of the Target Company under separate Hotel Operating Agreements. This move is expected to unlock capital for IHCL's high-margin growth initiatives and support its long-term target of achieving a 20%+ Return on Capital Employed (ROCE) by 2030. The transaction represents a strategic pivot towards management contracts rather than equity stakes in certain ventures.

Indian Hotels Company Limited (IHCL) has completed the sale of its entire 25.52% equity stake, representing 1,60,00,400 shares, in its joint venture, Taj GVK Hotels & Resorts Limited (Target Company), to Ms. Shalini Bhupal for ₹592 crore. The transaction was finalized on December 30, 2025, at a price of ₹370 per share.

Consequent to the share sale, IHCL, along with other shareholders and the Target Company, executed a Termination Agreement. This agreement terminates the Restated and Amended Shareholders’ Agreement dated November 4, 2011, and the Name and Trademark License Agreement dated November 22, 2007. As a result, IHCL nominee Directors have stepped down from the Target Company's board, and Taj GVK Hotels & Resorts Limited is required to discontinue the use of the 'Taj' name and change its corporate name.

IHCL will continue to manage the existing portfolio of hotels of the Target Company under separate Hotel Operating Agreements already in place. While Taj GVK was accounted for as a Joint Venture (JV) in IHCL’s Consolidated Financials, contributing NIL to consolidated revenue and net worth, IHCL's share of profit from this JV was ₹29.09 crore in FY24-25. The company expects continued revenue accrual from management fees.

This divestment is a strategic step aligning with IHCL's 'Accelerate 2030' roadmap, emphasizing a move towards a capital-light operating model. The objective is to unlock capital for high-margin growth opportunities, increase its capital-light inventory to 67%, and accelerate its Return on Capital Employed (ROCE) target to over 20% by 2030.

The report from Eagle Eye Equities, dated December 22, 2025, provides technical recommendations for short-term trading.

Market Outlook:

• Nifty: The index is trading above its 20-day and 40-day moving averages. A sustained move above 26050 could trigger short-covering rallies towards 26500/26800. Current support is around 25700, resistance at 26200.
• Bank Nifty: Trading in a broad range between 58700-59700. It remains in a 'buy on dip' mode as long as it holds above 58700. Support at 58700, resistance at 60000.
• Sensex: Similarly, technical indicators suggest range-bound movements with defined support and resistance levels.
  Market Breadth: On December 22, 2025, market breadth was negative with 2194 advances and 944 declines on the NSE.

Technical Picks & Commentary:

• TITAGARH: Recommended BUY at 785, with a stop-loss at 760 and targets at 810 and 825.
• NBCC: Recommended BUY at 113, with a stop-loss at 108 and targets at 119 and 122.
• Other recommendations include various BUY and SELL calls across different timeframes ("Smart Charts," "Momentum Swing," "CTFT"), with associated stop-losses, buy/sell prices, and target prices. Notable mentions of trades being "Booked Profit," "Stopped Out," or "Exit" are present.

The report explicitly states that its recommendations are based on technical and derivatives analysis, focusing on price movement, trading volume, and open interest, and may not align with fundamental research. The disclaimer emphasizes that past performance is not a guide to future performance, and investments are subject to market risks.

Indian Hotels Company Limited (IHCL) has announced a strategic transition of its joint venture with the GVK-Bhupal family in Taj GVK Hotels and Resorts Ltd. ("TAJGVK") to a long-term management agreement. As part of this redefinition of their alliance, IHCL is selling its entire 25.52% shareholding in TAJGVK to the GVK-Bhupal family for approximately ₹592 crore. This transaction aligns with IHCL's five-year strategic roadmap, 'Accelerate 2030', which prioritizes a capital-light growth strategy. By moving away from equity ownership in these properties to management contracts, IHCL aims to increase its capital-light operating inventory to 67%. This strategic shift is expected to unlock capital for high-margin growth opportunities and accelerate the company's consolidated Return on Capital Employed (ROCE) towards its guidance of 20% by 2030. IHCL will continue to manage the portfolio of six currently operational hotels, along with an upcoming 256-key Taj hotel in Yelahanka, Bengaluru, scheduled to open in 2026. The GVK-Bhupal family plans to scale the hospitality business to an inventory of about 4,000 keys over the next five years, indicating continued growth within the sector.

Indian Hotels Company Limited (IHCL) has announced the execution of a Sale and Purchase Agreement (SPA) for the disinvestment of 1,60,00,400 equity shares, representing 25.52% of the shareholding in Taj GVK Hotels & Resorts Limited (TajGVK), to Mrs. Shalini Bhupal, a member of the promoter group of TajGVK. The transaction is valued at ₹370 per share, resulting in a total consideration of approximately ₹592.01 crore.

While IHCL is divesting its equity stake in TajGVK, it will continue to operate the existing hotels under the TajGVK portfolio through separate Hotel Operating Agreements, which have also been executed. Consequently, IHCL will continue to accrue management fees from these hotels. In FY24-25, IHCL received ₹25.32 crore in management fees from TajGVK hotels. However, IHCL's share of profit from this joint venture, which was ₹29.09 crore in FY24-25, will cease from FY26 onwards.

Upon consummation of the transaction, the Restated and Amended Shareholders’ Agreement and the Name and Trademark License Agreement between IHCL and TajGVK will be terminated. The transaction is expected to be completed a day after four trading days from the disclosure date of December 19, 2025.

Financially, the sale will provide IHCL with a significant cash inflow of approximately ₹592 crore. The divestment represents a strategic move to streamline its investment portfolio, potentially focusing on wholly-owned assets or an enhanced asset-light model. While it leads to the cessation of JV profit share, the continuation of management fees and the substantial cash infusion are key financial aspects to consider.

This report from Eagle Eye Equities (Sharekhan), dated December 19, 2025, provides a technical analysis of the Indian stock market. It includes specific buy and sell recommendations for several individual stocks such as Wipro, SBIN, ASHAPURMIN, TBOTEK, JSWENERGY, NALCO, BDL, BHARATFORG, INDHOTEL, POLYCAB, SBICARD, BEL, JKLAKSHMI, and DALBHARAT, detailing entry prices, stop-losses, and target prices. The report also offers technical outlooks for major indices, including Nifty, Bank Nifty, and Sensex, outlining short-term and medium-term trends, support/resistance levels, and potential reversal points. Additionally, it covers technical trends for various sectoral indices like Nifty Auto, Metal, Infra, Fin Services, Small Cap 100, Pharma, IT, Mid Cap 100, and FMCG. A significant disclaimer emphasizes that the recommendations are based on technical and derivatives analysis, focusing on chart patterns and trading volumes, and should not be confused with fundamental research. It warns investors about the inherent risks of past performance not being indicative of future results and advises them to conduct independent research.

Prime Research & Services presents its comprehensive stock selection methodology, emphasizing a three-stage process: Idea Generation (combining top-down macro and bottom-up fundamental analysis), Idea Screening (using forensic accounting and qualitative advancement frameworks), and Decision Making (based on historical performance, valuation, and avoiding highly cyclical businesses).

Key elements of their forensic accounting screeners include promoter holding/pledging history, corporate structure, board composition, capital allocation, cash flow from operations vs. EBITDA, yield on cash, CWIP vs. gross block, contingent liabilities, reserve changes, and debtor days. The qualitative framework focuses on operating profit growth, market share, competitive advantage, cash flows, improving return ratios, opportunity size, and sustainability through good corporate governance.

The report identifies two primary stock idea strategies: 'High Growth & QARP (Quality at Reasonable Price)' stocks and 'Value' stocks. The 'High Growth & QARP' strategy aims for long-term outperformance by investing in quality growth stocks at reasonable prices, considering India's expected cyclical recovery, structural reforms, favorable demographics, and urbanization.

The 'Value' strategy focuses on investing in mispriced stocks or those impacted by temporary events, emphasizing entry points and companies with rich asset values, often going against herd mentality.

Company Specific Analysis:

• Interglobe Aviation (Indigo): The report recommends an exit due to severe operational disruptions, including massive flight cancellations driven by planning failures related to pilot requirements and FDTL norms. It highlights rising structural costs (CASK ex-fuel) due to new norms, potential one-time costs from refunds and passenger arrangements, and government intervention limiting pricing power. Reputational damage and continued regulator oversight are also concerns, dampening the near-term earnings outlook. Key risks include the timely resolution of the crisis given Indigo's dominant market share.
• Affle India: The report recommends a buy for Affle India, citing its position as a global technology company enabling AI/ML-driven mobile advertising solutions. The industry outlook for digital advertising is strong, with mobile as the primary medium. Affle's diversification across high-growth categories (e-commerce, fintech, foodtech), consistent growth in key geographical markets (India and Emerging Markets), and its conversion-led, full-stack platform (CPCU model) with technological advantages (patents, AI integration) are key rationales. Management guidance anticipates 20% sustainable revenue growth and maintaining 23% EBITDA margins, with projections for Revenue/EBITDA/PAT to grow at a CAGR of 23%/23%/25% over FY25-28E. The company is trading at attractive P/E multiples for FY27E/FY28E after a recent correction, presenting a favorable entry point.

Stock Lists: The report provides extensive lists of shortlisted 'High Growth & QARP' and 'Value' stock ideas across various sectors, updated periodically, with the latest lists dated November 2025.

CARE Ratings upgraded Oriental Hotels Limited's (OHL) long-term bank facilities rating to CARE AA- with a Stable outlook, up from CARE A+. The upgrade is attributed to OHL's improved business risk profile following the near completion of multi-year renovation programs across key properties. This is expected to enhance OHL's average room rate (ARR) and drive higher revenue per available room (RevPAR). Revenue grew by 12% YoY in FY25 to ₹440 crore and is projected to reach ~₹500 crore over the medium term. Supported by the increase in RevPAR and limited cost escalation, operating margins are expected to remain healthy at 27–30%. The company's low overall gearing ratio of 0.27x as on March 31, 2025, provides sufficient headroom to undertake moderately debt-funded capex/ acquisition. The ratings also factor in OHL's strong strategic and operational linkages with The Indian Hotels Company Limited (IHCL), which holds a 28.54% stake. However, ratings are constrained by OHL's moderate scale of operations, geographically concentrated revenue profile, and susceptibility to macroeconomic cycles and global economic uncertainties. A significant increase in scale with reduction in dependence on Chennai markets and operating profit margin of 30% for long term on a sustained basis will lead to a positive rating action. Weakening of linkages with IHCL or an unanticipated event leading to disruption in travel/leisure activities will lead to a negative rating action.

Indian Hotels Company Limited (IHCL) has demonstrated robust operational performance in Q2 FY2025-26, alongside aggressive strategic expansion. The company reported consolidated revenue growth of 12% year-on-year (YoY) to ₹2,124 Cr and a 16% YoY increase in EBITDA to ₹653 Cr, maintaining a healthy EBITDA margin of 30.8%. This marks the fourteenth consecutive quarter of record financial performance for IHCL. For the first half of FY26 (H1 FY26), consolidated revenue climbed 21% YoY to ₹4,226 Cr, with EBITDA up 22% YoY to ₹1,291 Cr.

While consolidated Profit After Tax (PAT) saw a significant YoY decline of 45.4% to ₹318.26 Cr in Q2 FY26, this was primarily attributed to a substantial exceptional gain of ₹307.36 Cr recognized in Q2 FY25 when Taj SATS became a subsidiary. Standalone operations showed steady growth, with revenue up 2.4% YoY to ₹1060.49 Cr and PAT increasing by 13.6% YoY to ₹289.12 Cr.

Management has reiterated its confidence in achieving double-digit revenue growth for the full fiscal year FY26, supported by strong fundamentals, accelerated hotel signings and openings, strategic partnerships, and a healthy cash position that enables growth investments. IHCL continues to execute its 'Accelerate 2030' roadmap, which targets a portfolio of over 700 hotels by 2030.

Key to this expansion is a series of strategic acquisitions and investments. IHCL has finalized the acquisition of 51% stakes in ANK Hotels Private Limited (for ₹109.3 Cr) and Pride Hospitality Private Limited (for ₹81.2 Cr), totaling ₹190.5 Cr, thereby deepening its penetration in the mid-scale segment and adding 147 hotels. The company also integrated approximately 135 hotels from Clarks Hotels and Resorts under its Ginger brand. Furthermore, IHCL has made a significant foray into the integrated luxury wellness segment by acquiring a 51% stake in Sparsh Infratech Private Limited, which operates the 'Atmantan' wellness resort, for approximately ₹240 Cr. This move capitalizes on the growing demand for holistic health and experiential travel, with Atmantan reporting robust financials and high EBITDA margins.

On the international front, IHCL infused US$25 million (approx. ₹219.69 Cr) as equity into its Netherlands-based wholly-owned subsidiary, IHOCO BV, to support global expansion and manage operational expenditures. The company also received the first Commencement Certificate from BMC for its proposed 'Taj Bandstand' hotel project in Mumbai, marking a key step for its development pipeline.

Regulatory disclosures include contested penalty claims from the Brihanmumbai Municipal Corporation (BMC) for outstanding property taxes on two properties, with IHCL asserting compliance with court orders and expecting limited financial impact. The company also reported a malware incident on select IT systems, with business operations continuing as usual after containment measures. A legal dispute with a former employee was settled with NIL compensation paid by the company.

IHCL remains actively engaged with the investment community, participating in various investor calls and conferences. Following its Q2 FY26 results announcement on November 4, 2025, the company made the audio recording and transcript of its earnings call publicly available, and has scheduled further investor meetings, including participation in the Ambit Travel Ecosystem Conference on December 4, 2025.

Indian Hotels Company Limited (IHCL), through its wholly-owned subsidiary Roots Corporation Limited (RCL), has completed the acquisition of 51% equity stakes in ANK Hotels Private Limited and Pride Hospitality Private Limited. The investment in ANK Hotels amounts to ₹109.3 crore, while the investment in Pride Hospitality is ₹81.2 crore, bringing the total cash consideration to ₹190.5 crore. These entities operate under the brand 'The Clarks Hotels & Resorts' and will now become step-down subsidiaries of IHCL. ANK Hotels manages a portfolio of 119 midscale hotels (67 operational) with a turnover of ₹14.32 crore in FY24-25 and has a presence in India and Sri Lanka. Pride Hospitality manages 28 midscale hotels (14 operational) with a turnover of ₹19.00 crore in FY24-25 and is present in India. This acquisition is aimed at deepening IHCL's penetration in the Indian midscale segment and supporting its asset-light growth strategy. The transaction was completed on December 1, 2025. This strategic expansion significantly enhances IHCL's hotel capacity and reinforces its market leadership.

Indian Hotels Company Limited (IHCL) has formally submitted a regulatory disclosure regarding its scheduled participation in the Morgan Stanley Annual Asia Pacific Summit on November 20, 2025. The event will involve a full day of physical one-on-one and group meetings with investors and analysts. This engagement, conducted in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is part of IHCL's ongoing investor relations strategy. The schedule is subject to potential changes. This announcement follows IHCL's recent disclosure of its Q2 FY26 financial results, which demonstrated continued revenue and EBITDA growth, reinforcing the company's positive financial trajectory. The discussions at the summit are expected to cover IHCL's robust portfolio expansion, its successful integration of recent acquisitions, and its long-term growth prospects, as outlined in its 'Accelerate 2030' plan.

Indian Hotels Company Limited (IHCL) is expanding its portfolio by entering the integrated luxury wellness segment through the acquisition of approximately 51% equity stake in Sparsh Infratech Private Limited, which operates the 'Atmantan' resort in Mulshi, Pune. The total transaction values Sparsh Infratech at an enterprise value of approximately ₹415 Crores. IHCL's investment comprises a primary investment of ~₹205 Crores and a secondary share purchase of ~₹35 Crores, totaling ~₹240 Crores for its 51% stake. The primary investment will largely be utilized to retire Atmantan's net debt of approximately ₹150 Crores. This strategic move aims to capitalize on the increasing consumer demand for holistic health, preventive care, and experiential travel. It also complements IHCL’s existing footprint in Maharashtra and presents opportunities for cross-selling with its 'J Wellness Circle' and loyalty programs. Atmantan has demonstrated strong financial performance with a revenue CAGR of 25% from FY19 to FY25 and EBITDA margins close to 50%. For FY25, it reported revenue of ₹77 Cr and EBITDA of ₹37 Cr. Provisional figures for H1 FY26 show revenue at ₹35 Cr and EBITDA at ₹15 Cr. The founders will continue in their operating roles, ensuring continuity, and the resort is planned for expansion. The transaction is subject to customary closing adjustments and is expected to be completed by December 31, 2025.

Indian Hotels Company Limited (IHCL) announced on November 14, 2025, that its Board has approved the acquisition of approximately 51% equity stake in Sparsh Infratech Private Limited for around ₹240 crores. Sparsh Infratech Private Limited owns and operates the 'Atmantan' health and wellness resort located at Mulshi, Maharashtra. This strategic move signifies IHCL's entry into the integrated wellness segment of the hospitality industry.

The target entity, Sparsh Infratech, reported a turnover of ₹76.7 crores and EBITDA of ₹37.2 crores for the Financial Year 2024-25. The company was incorporated in 2007 and is engaged in providing integrated preventive healthcare, lifestyle management, and hospitality services. The acquisition involves a cash consideration, and the enterprise value of Sparsh Infratech is estimated at approximately ₹415 crores.

The transaction is subject to the fulfillment of certain conditions precedent and is expected to be completed by December 31, 2025. The company confirmed that this is not a related party transaction and the promoter group has no interest in the acquired entity.

Indian Hotels Company Limited (INDHOTEL) has officially notified BSE and NSE about its scheduled presence at the UBS India Summit 2025. The event is slated for November 13, 2025, and will feature physical meetings, encompassing both one-on-one interactions and group discussions, with various investors and analysts. These meetings are planned for the entire day. This disclosure has been made in adherence to Regulation 30(6) read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. While no specific agenda or new guidance is provided, such interactions typically serve to update stakeholders on the company's progress and strategic direction. The company has noted that the schedule may be subject to adjustments due to unforeseen circumstances. The NSE Scrip Code for the company is INDHOTEL, and the BSE Scrip Code is 500850. The intimation was filed on November 10, 2025.

Indian Hotels Company Limited (IHCL) has submitted the transcript of its earnings call for the quarter and half-year ended September 30, 2025, to the BSE and NSE. The call was held on November 4, 2025. This filing provides investors access to the detailed discussions and management commentary during the earnings call, covering the company's performance, strategic initiatives, and outlook. The transcript is also available on IHCL's investor relations website. No specific financial figures or performance metrics are detailed in this announcement itself; it serves solely as a notification of the transcript's availability.

Indian Hotels Company Limited has formally announced the publication of its Un-audited (Reviewed) Standalone and Consolidated Financial Results for the period ending September 30, 2025. These results were published in the Financial Express (all India English edition) and Loksatta (Mumbai Marathi edition). The newspaper advertisements include a QR code and a weblink for accessing the complete financial details.

Indian Hotels Company Limited (IHCL) has officially submitted the audio recording of its Q2 FY26 Global Conference Call to the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The conference call, which took place on November 4, 2025, was dedicated to presenting and elaborating upon the Un-audited (Reviewed) Standalone and Consolidated Financial Results for the quarter and half-year concluded on September 30, 2025. This disclosure is in full compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically Regulation 30(6) read with Part A of Schedule III. Beyond the regulatory filing, IHCL has also ensured broad accessibility for its investors and the wider public by hosting the complete audio recording on its investor relations website. Stakeholders can access this recording via the provided URL: https://ir.ihcltata.com/media/fz1lzogh/ihcl-global-earnings-call_q2fy26_recording.mp3. This initiative allows interested parties to review the management's discussion and insights regarding the company's financial performance and strategic outlook following the earnings announcement.

Indian Hotels Company Limited (IHCL) presented its Q2 FY26 and H1 FY26 financial results, highlighting steady performance and strong fundamentals. The company achieved its 14th consecutive best-ever quarter despite facing temporary headwinds such as a high base effect from the previous year's wedding season, a slowdown in domestic air travel, and geopolitical disruptions affecting foreign tourist arrivals. In Q2 FY26, IHCL reported a consolidated revenue of ₹2,124 Cr, an increase of 12% year-on-year (YoY), with operating revenue at ₹2,041 Cr (↑12% YoY). EBITDA grew by 16% YoY to ₹653 Cr, with an EBITDA margin of 30.8% (↑0.9 pp). Profit After Tax (PAT) stood at ₹285 Cr, up 15% YoY, notably excluding a ₹307 Cr one-off exceptional gain from the previous year's subsidiarization of Taj SATS. For H1 FY26, consolidated revenue surged by 21% YoY to ₹4,226 Cr, and EBITDA increased by 22% YoY to ₹1,291 Cr, with a consolidated EBITDA margin of 30.5% (↑0.1 pp). PAT for H1 FY26 was ₹581 Cr (↑17% YoY). On a standalone basis, H1 FY26 revenue grew 7% YoY to ₹2,105 Cr, with EBITDA up 11% to ₹893 Cr and PAT at ₹534 Cr (↑15% YoY). IHCL expressed confidence in achieving double-digit revenue growth guidance for FY26, driven by strong fundamentals. The company highlighted accelerated signings and openings, with 32 hotel signings and 12 openings in H1 FY26. Key milestones included the opening of the 75th Ginger hotel, the 75th upscale/upper upscale hotel (Vivanta), and the 250th operational hotel overall (Gateway Goa). The company is investing over ₹250 Cr in FY26 for renovations of marquee assets. The expansion pipeline remains robust with 167 hotels (approximately 22,000 keys), of which over 95% are capital-light. The acquisition of 135 Clarks hotels is anticipated to close in Q3 FY26. Financially, the company maintains a healthy balance sheet with cash and cash equivalents of ₹2,847 Cr as of September 30, 2025, and low borrowings of ₹279 Cr. Return ratios remain strong, with Return on Capital Employed (RoCE) at 17.3% and Return on Equity (ROE) at 15.5% as of September 2025. IHCL anticipates a strong second half of FY26, bolstered by structural industry tailwinds, upcoming hotel openings, the integration of Clarks hotels, and a busy MICE and wedding season. The company also updated on its sustainability initiatives under the 'Paathya' program.

Indian Hotels Company Limited (IHCL) has announced its un-audited financial results for the quarter and half-year ended September 30, 2025. The results reveal a mixed performance scenario, with strong standalone operational growth contrasted by a significant year-on-year decline in consolidated Profit After Tax (PAT) due to exceptional items in the previous year.

Standalone Performance:
For the second quarter of FY26 (Q2 FY26), IHCL reported a 2.43% YoY increase in Revenue from Operations to ₹106049 lakh. Profit After Tax (PAT) saw a robust growth of 13.62% YoY, reaching ₹28912 lakh. Earnings Per Share (EPS) was reported at ₹2.03, a 13.03% increase YoY. Sequentially (QoQ), revenue grew 1.52% and PAT increased by 18.21%.
For the half-year ended September 30, 2025 (H1 FY26), standalone revenue increased by 6.99% YoY to ₹210508 lakh, and PAT grew by 15.20% YoY to ₹53370 lakh. Standalone EPS for H1 FY26 was ₹3.75, up 15.38% YoY.
Standalone financials for Q2 FY25 and H1 FY25 reported nil exceptional items, while Q2 FY24 had an exceptional charge of ₹337 lakh for impairment.

Consolidated Performance:
On a consolidated basis, IHCL's Revenue from Operations for Q2 FY26 grew significantly by 11.76% YoY to ₹204089 lakh. However, consolidated PAT declined sharply by 45.40% YoY to ₹31826 lakh, with EPS falling to ₹2.00 from ₹3.89 in Q2 FY24. This decline is primarily attributed to a substantial exceptional gain of ₹30736 lakh recognised in Q2 FY24 from the business combination related to Taj SATS Air Catering Limited, contrasted with nil exceptional items in Q2 FY25.
For H1 FY26, consolidated revenue surged by 20.90% YoY to ₹408197 lakh. Consolidated PAT, however, saw a year-on-year decrease of 23.18% to ₹64758 lakh, with EPS at ₹4.08, reflecting the impact of prior period's exceptional gains. Consolidated financials for H1 FY25 also reported nil exceptional items, while H1 FY24 included the ₹30736 lakh gain.

Financial Deep Dive:

• Balance Sheet: As of September 30, 2025, consolidated total assets increased by 4.03% to ₹1841864 lakh compared to ₹1770393 lakh as of March 31, 2025. Total liabilities saw a 4.40% increase to ₹552117 lakh.
• Cash Flow: Consolidated cash flow from operations for H1 FY26 was ₹85311 lakh, a 15.43% increase YoY. Investing activities showed a significant positive swing, generating ₹277548 lakh compared to an outflow of ₹25153 lakh in H1 FY25, largely due to sales of assets and investments. Financing activities continued to show outflows.

Outlook:
No specific forward-looking guidance or management commentary on future outlook was provided in this results announcement.

The Indian Hotels Company Limited (IHCL) announced its consolidated financial results for the second quarter and first half ended September 30, 2025, marking its fourteenth consecutive quarter of record performance. Consolidated revenue for Q2 FY2025-26 increased by 12% year-on-year (YoY) to ₹2,124 Cr, driven by a 9% RevPAR growth and 22% growth in New Businesses. EBITDA grew by 16% YoY to ₹653 Cr, with the EBITDA margin expanding by 90 basis points to 30.8%. Profit After Tax (PAT) saw a 15% YoY increase to ₹285 Cr, with the growth calculated excluding an exceptional gain of ₹307 Cr from Q2 FY2025.

For the first half (H1) of FY2025-26, consolidated revenue surged by 21% YoY to ₹4,226 Cr, and EBITDA increased by 22% YoY to ₹1,291 Cr, with EBITDA margins improving by 10 basis points to 30.5%. PAT grew by 17% YoY (excluding one-offs).

On a standalone basis, IHCL reported Q2 FY2025-26 revenue of ₹1,166 Cr, with an EBITDA margin of 40.8% (a 220 bps YoY expansion) and a PAT margin of 24.8%. The company maintained a healthy balance sheet with a consolidated gross cash balance of ₹2,847 Cr as of September 30, 2025.

IHCL continued its accelerated growth momentum, signing 46 hotels in H1 FY2026, bringing its total portfolio to 570 hotels. It also opened 26 hotels, surpassing 250 operating hotels in India. Strategic partnerships, including the onboarding of 14 hotels from the Clarks group, are progressing. Construction has commenced for Taj Bandstand, Mumbai. The outlook for the second half of the fiscal remains strong, supported by expected rebounds in corporate travel and seasonal events.

The Indian Hotels Company Limited (IHCL) announced its unaudited financial results for the quarter and half-year ended September 30, 2025 (Q2 FY26), with the Board of Directors approving the statements on November 4, 2025.

Performance Analysis:

• Consolidated: Revenue from operations saw a healthy increase of 11.76% YoY to ₹204,089 lakhs in Q2 FY26 from ₹182,612 lakhs in Q2 FY25. Consolidated Profit Before Tax (PBT) also demonstrated strong operational performance, growing by 16.61% YoY to ₹45,271 lakhs, when normalized for a significant exceptional item in the prior year. Notably, the prior year's Q2 FY25 included a one-time notional gain of ₹30,736 lakhs on Taj SATS Air Catering Limited becoming a subsidiary. Consequently, reported consolidated Profit After Tax (PAT) decreased by 44.47% YoY to ₹31,826 lakhs, and diluted EPS fell by 48.59% YoY from ₹3.89 to ₹2.00. For the half-year ended September 30, 2025, consolidated revenue grew 20.9% YoY to ₹408,197 lakhs, and PBT increased by 24.5% YoY to ₹89,253 lakhs. However, consolidated PAT saw a YoY decline of 21.3% to ₹63,560 lakhs, influenced by the prior year's exceptional gain.
• Standalone: Standalone revenue from operations grew by 2.43% YoY to ₹106,049 lakhs in Q2 FY26. Standalone PBT increased by 11.59% YoY to ₹38,373 lakhs, and PAT rose by 13.62% YoY to ₹28,912 lakhs. Standalone diluted EPS improved by 14.04% YoY to ₹2.03. For the half-year, standalone revenue grew 7.04% YoY, PBT increased 13.52% YoY, and PAT rose 15.20% YoY.

Financial Deep Dive:

• Balance Sheet: Consolidated total assets grew to ₹1,841,864 lakhs as of September 30, 2025, from ₹1,770,393 lakhs as of March 31, 2025. Consolidated borrowings increased slightly.
• Cash Flow: Consolidated operating cash flow for the half-year FY26 was ₹85,311 lakhs, an increase from ₹73,905 lakhs in the prior year. Capital expenditure for the half-year was ₹30,491 lakhs (consolidated), leading to a consolidated free cash flow of ₹54,820 lakhs for H1 FY26. Standalone operating cash flow for H1 FY26 was ₹30,972 lakhs, with CapEx of ₹16,034 lakhs, resulting in a standalone free cash flow of ₹14,938 lakhs.

Key Events:

• The primary event influencing the YoY comparison was a one-time notional gain recognized in Q2 FY25 related to business combination (Taj SATS).
• An internal restructuring of UK operations was completed effective April 1, 2025.

Outlook:

• No explicit management guidance or outlook was provided in the announcement. The results indicate solid operational performance, particularly on a normalized basis for the consolidated entity, and steady growth on a standalone basis.

Indian Hotels Company Limited (IHCL) has made a formal intimation to the BSE Limited and the National Stock Exchange of India regarding an upcoming global conference call. This call is scheduled to take place on Tuesday, November 4, 2025, at 7:00 PM IST, and will focus on the presentation of the company's financial results for the second quarter (Q2) of the Financial Year 2025-26. The announcement was made on October 27, 2025, in compliance with Regulation 30(6) read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

While this notification serves as an advance announcement for analysts and institutional investors and provides the necessary dial-in details for the event, it does not contain the actual financial results, performance figures, or management guidance for Q2 FY2025-26. These details are expected to be presented during the conference call. The company will upload the presentation on its website in due course. No financial deep dive, outlook commentary, or specific performance metrics are available in this preliminary announcement.

BSE Limited has formally announced that a Board Meeting will be convened on November 4, 2025. The primary purpose of this meeting is to consider and adopt the un-audited financial results for the quarter and half-year ended September 30, 2025. This will include both standalone and consolidated financial statements, along with the accompanying limited review report from the auditors. This announcement is made in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Additionally, the company has implemented a closure of the trading window for its designated employees from September 24, 2025. This window will be reopened 48 hours after the financial results are officially disseminated to the public, as per the Code of Conduct for Prevention of Insider Trading.

The Indian Hotels Company Limited (IHCL) has disclosed an equity infusion of US$25 million (approximately ₹219.69 Crores) into its wholly-owned subsidiary in the Netherlands, IHOCO BV, on October 23, 2025. This investment is intended to enable IHOCO BV to make further investments in its own subsidiaries, specifically for debt repayment and operational requirements.

IHOCO BV, incorporated in the Netherlands, serves as IHCL's primary holding company for its international hospitality ventures. As of March 31, 2025, IHOCO BV reported a turnover of ₹3.84 Crores and a Net Worth of ₹3057.14 Crores, with a reported Profit After Tax (PAT) of ₹(28.06) Crores. The turnover for the previous two financial years was ₹6.08 Crores in FY2024 and ₹0.17 Crores in FY2023.

The transaction involves a cash consideration and does not alter IHCL's 100% shareholding in IHOCO BV. It is exempt from related party transaction disclosures as it involves a holding company and its wholly-owned subsidiary whose accounts are consolidated. Promoter groups have no interest in IHOCO BV, and no specific governmental or regulatory approvals were deemed necessary for this immediate transaction.

The Indian Hotels Company Limited has issued a certificate under Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018, for the quarter ended September 30, 2025. This is a routine compliance filing, confirming the company's adherence to SEBI's guidelines concerning the dematerialisation and rematerialisation of its securities. The certificate, issued by the company's registrar and share transfer agent, MUFG Intime India Private Limited (formerly Link Intime India Pvt. Ltd.), states that details of securities dematerialised or rematerialised during the specified quarter have been furnished to all stock exchanges where the company's shares are listed. The registrar also confirmed that the security certificates received for dematerialisation have been processed, mutilated, cancelled, and the depositories' names substituted in the register of members within the prescribed timelines. This announcement does not contain any financial performance data, quarterly results, management guidance, or operational updates that would typically impact investment decisions, and is purely procedural.

Indian Hotels Company Limited (IHCL) has announced significant operational expansion and growth momentum during the first half of FY2026. The company reported signing 46 new hotels and unveiling 26 new hotel openings. This includes 14 additions through marketing and distribution partnerships with Brij Hospitality and Clarks Group of Hotels. IHCL has achieved a major milestone by crossing 250 operating hotels in India, with a total of 25,500 rooms.

The growth is notably concentrated in the mid-scale to upscale segment, with a substantial share of the 46 signings across IHCL's Gateway, Tree of Life, and Ginger brands. These developments were facilitated by multi-hotel framework agreements, including one with the Ambuja Neotia group for Taj, SeleQtions, and Tree of Life brands, and another with Madison for the Ginger brand in South India. New hotel signings were secured in diverse domestic locations such as Darjeeling, ECR Chennai, Pondicherry, Mohali, and internationally in Kruger National Park, South Africa.

In terms of openings, IHCL maintained a robust pace, opening 12 hotels and onboarding 14 more in H1 FY2026. Notable new establishments include Taj hotels in Alibaug and Raichak, two SeleQtions resorts in Lakshadweep, a Vivanta in Thane, the fourth Taj hotel in Udaipur (Taj Lalit Bagh), a Gateway in Coorg, a Gateway in Ahmedabad, a second SeleQtions in Haridwar, and a Ginger in Dehradun.

IHCL reiterated its commitment to its long-term strategy, 'Accelerate 2030,' with the goal of achieving a portfolio of 700 hotels. The press release also highlighted the prestigious recognition of its flagship brand, Taj, as the World's Strongest Hotel Brand 2025 and India's Strongest Brand 2025 by Brand Finance. No specific quarterly financial results, EPS figures, or guidance on near-term financial performance were provided in this announcement, which focused on operational expansion.

Indian Hotels Company Limited (IHCL) has informed both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) about an update concerning its Registrar and Share Transfer Agent (RTA), MUFG Intime Private Limited. The company has announced that the new email address for shareholder communications is effective from October 1, 2025. Shareholders are advised to use investor.helpdesk@in.mpms.mufg.com for all their queries and service requests. This change is in continuation of the RTA's name alteration from 'Link Intime India Private Limited' to 'MUFG Intime India Private Limited', which was previously intimated on January 2, 2025. The RTA's physical address, website (https://in.mpms.mufg.com/), and contact number (+91 810 811 8484) remain unchanged. Shareholders can also utilize the RTA's online service request portal at https://web.in.mpms.mufg.com/helpdesk/Service_Request.html. The company has also made this information available on its official website, https://www.ihcltata.com/. This is an administrative update and does not pertain to financial performance, outlook, or operational developments.

Indian Hotels Company Limited (INDHOTEL) has submitted a disclosure under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding a penalty levied by the Brihanmumbai Municipal Corporation (BMC).

Event: Claim of Penalty on outstanding property taxes.

Authority: Brihanmumbai Municipal Corporation (BMC).

Details: A penalty of ₹34,04,848 has been claimed by BMC on the outstanding property taxes for the plot of land located at Vile Parle. This claim was received along with a Special Notice in the property tax bills for the year 2025-26.

Date of Receipt: The company received the order on September 30, 2025.

Company's Stance: Indian Hotels asserts that the payment of property taxes has been made in accordance with the orders issued by the Hon’ble Supreme Court and the Hon’ble High Court. The company disputes the BMC's claim for penalty on merit.

Financial Impact: The company stated that the financial impact, if any, is quantifiable and limited to the disclosed penalty amount of ₹34,04,848.

Operational Impact: There will be no impact on the company's operations or other activities.

Indian Hotels Company Limited (INDHOTEL) has disclosed the settlement of a legal dispute with former employee Mrs. Simi Kumar Chawla, as per SEBI Listing Regulations. The matter was submitted to the Bombay High Court, where the Plaintiff had filed a suit in 2016 challenging her termination and seeking reinstatement and damages. The Company had also filed a counter-claim for recoveries of expenses incurred post-termination. The parties have now reached a settlement, leading to the disposal of the suit. The terms of the settlement include full and final satisfaction of all claims. Notably, the plaintiff has paid part of the company's claim, and both parties have withdrawn all their claims against each other, agreeing to withdraw any other pending cases. The company has reported NIL compensation or penalty paid, indicating no material financial impact from this resolution. This settlement on September 26, 2025, brings closure to the ongoing dispute.

The Indian Hotels Company Limited (IHCL) has made a significant operational announcement regarding its expansion plans. Through its wholly-owned subsidiary, ELEL Hotels and Investment Limited, the company received the first Commencement Certificate from the Brihanmumbai Municipal Corporation (BMC) on September 24, 2025. This critical approval pertains to the development of IHCL's proposed 'Taj Bandstand' hotel project, which is set to be located in Bandra, Mumbai. The receipt of this certificate confirms that all requisite regulatory and statutory approvals have been obtained, thereby enabling the immediate commencement of construction for this new hotel. This development is a positive indicator of IHCL's execution capabilities and its commitment to enhancing its presence in the luxury hospitality sector. While this announcement focuses solely on the project commencement and does not include financial performance data such as quarterly or annual results, profit margins, EPS, or any management guidance, it highlights a crucial step in bringing a new asset to fruition. The expansion into Bandra, Mumbai, is strategically important for IHCL, targeting a prime location to cater to its clientele. The company's forward momentum in project development suggests continued investment in its asset portfolio and a positive outlook for future revenue streams and market share growth.

The Indian Hotels Company Limited (INDHOTEL) has filed an intimation with the stock exchanges (BSE and NSE) regarding unclaimed dividends and its participation in the Investor Education and Protection Fund (IEPF) initiative. The company is reminding shareholders about dividends that have remained unpaid for specific periods and are due for transfer to the IEPF, as per Section 124(5) of the Companies Act, 2013. Additionally, the company has publicized the IEPF's 100 Days Campaign, 'Saksham Niveshak', aimed at enhancing investor education. This campaign notice was published in the Financial Express (English) and Loksatta (Marathi) newspapers on September 24, 2025. The company has also provided detailed instructions and contact information for shareholders wishing to claim their unclaimed dividends, directing them to the company's Registrar & Share Transfer Agent, MUFG intime India Private Limited. The information is also available on the company's website, www.ihcltata.com. The news includes a template letter for shareholders to initiate the claim process.

The Indian Hotels Company Limited (IHCL) has announced the acquisition of 2,01,659 equity shares in its wholly-owned subsidiary, ELEL Hotels and Investment Limited (ELEL), for a total consideration of ₹100.83 crore. The transaction, completed on September 23, 2025, via a rights issue at an issue price of ₹5,000 per share, injects capital into ELEL. ELEL is significant as it holds the leasehold rights for a prime land parcel at Bandstand, Bandra, intended for the development of the Taj Bandstand hotel. This acquisition is a strategic move to support the company's expansion and development pipeline in key locations. The disclosure was made under SEBI Regulation 30, confirming the acquisition as a cash transaction with no promoter group interest in ELEL. ELEL, incorporated in 1969, has recorded minimal turnover in recent fiscal years, with FY25 turnover at ₹0.0974 crore. The company's presence is limited to India. This event highlights IHCL's ongoing commitment to developing its hotel portfolio.

The Indian Hotels Company Limited (IHCL) has officially responded to recent media articles, particularly one in the Times of India titled “Taj may exit NYC’s Pierre in $2bn deal.” The company has clarified that it does not own The Pierre, New York, but rather holds leasehold rights for the property.

IHCL stated that operations at The Pierre continue as usual and that the recent media reports suggesting otherwise are misleading and speculative. The company underscored its adherence to high governance standards and its commitment to promptly disseminating any material information requiring disclosure to the stock exchanges as per SEBI regulations. This clarification aims to address market speculation and provide accurate information to stakeholders regarding the company's assets and operations. No financial figures, performance metrics, or future guidance were provided in this announcement, as it pertains solely to a clarification of a news report.

Indian Hotels Company Limited (IHCL) presented its comprehensive 'Transformation Journey' and 'Accelerate 2030' strategy at the Jefferies 4th India Forum on September 16, 2025. The company highlighted a significant financial turnaround between FY17 and FY25, with revenue growing 2x to ₹8,565 Cr and EBITDA increasing 4.5x to ₹3,000 Cr, alongside a 19 percentage point expansion in EBITDA margin to 35%. Profit After Tax (PAT) swung from a loss of ₹(52) Cr in FY17 to a profit of ₹1,603 Cr in FY25 (excluding exceptional items). The net cash position improved dramatically from a deficit of ₹3,100 Cr to a surplus of over ₹3,000 Cr, with Free Cash Flow growing 58x to ₹1,099 Cr in FY25. Portfolio expansion was also substantial, with the number of hotels growing 3.5x to over 565 and rooms increasing 3x to over 57,000. IHCL's 'Accelerate 2030' strategy focuses on three pillars: Expansion of Portfolio, Evolution of Brandscape, and Excellence in Operations. Key 2030 targets include achieving 2x+ revenue growth (targeting ₹15,000 Cr), expanding the hotel portfolio to over 700 hotels, achieving a Return on Capital Employed (ROCE) of 20%+, and maintaining a high Net Promoter Score (NPS) of 70+. Growth drivers identified include India's projected economic expansion, a boom in tourism and discretionary consumption, and government support for the sector. The company is actively developing new properties across India and internationally, with specific projects like Taj Hotel Hessischer Hof in Frankfurt and several new openings planned for FY26. Management expressed confidence in delivering double-digit revenue growth for the current year, with over 30 new hotels expected to open in FY26. IHCL aims to be the most valued, responsible, and profitable hospitality ecosystem in South Asia.

Indian Hotels Company Limited has filed a disclosure with the stock exchanges regarding an IT security incident. The company detected a malware incident that has affected a select number of its IT systems. In response, immediate actions have been initiated to contain the impact and secure the compromised systems. Relevant authorities have been duly notified about the incident. The company is maintaining close monitoring of the situation. Importantly, Indian Hotels has stated that its business operations continue to run as usual despite the IT security event. This disclosure is made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company is taking necessary steps to mitigate any potential fallout and ensure system integrity.

Indian Hotels Company Limited (IHCL) participated in the Motilal Oswal 21st Annual Global Investor Conference on September 2, 2025, presenting its transformation journey and future strategy.

Performance (2017-2025):
IHCL highlighted a significant turnaround from 2017 to 2025. Revenue grew from ₹4,000 Cr to over ₹8,500 Cr, while the EBITDA margin improved substantially from 16% to 35%. Profitability saw a dramatic shift, with a PAT of (₹63 Cr) in 2017 turning into a profit of ₹1,900+ Cr in FY25 (this figure includes a ₹305 Cr net exceptional item). The balance sheet also strengthened considerably, with net debt of ₹3,000+ Cr in 2017 converting to cash reserves of ₹3,000+ Cr by 2025. Return on Capital Employed (ROCE) improved from 5% to 17%. The hotel portfolio expanded from 140 operational hotels to 250, with a pipeline of 315+ hotels. Market capitalization surged from ₹13,000 Cr to over ₹1,00,000 Cr.

Outlook and 2030 Goals:
The company outlined its vision for 2030, aiming for sustained value creation and market leadership. Key targets include expanding the hotel portfolio to over 700 hotels (from 565+ operational in Aug 2025) and over 500 operational hotels (from 250 in Aug 2025). IHCL aims to achieve a ROCE of 20%+ and maintain a positive net cash position. Revenue projections include consolidated revenue of ₹15,000+ Cr and enterprise revenue of ₹30,000+ Cr. The company sees strong long-term growth drivers from India's economic expansion, rising disposable incomes, and a underpenetrated hospitality market, supported by government focus on infrastructure and tourism.

Strategy:
IHCL's strategy is built on four pillars: Expansion of Portfolio (domestically in Tier 2/3 cities and internationally via capital-light models), Evolution of Brandscape (reimagining brands and launching new concepts), Excellence in Operations (focus on service, F&B, digitisation, and customer experience, evidenced by improving NPS scores), and Efficient Capital Deployment (including accretive strategic acquisitions).

Financials & Projects:
The presentation provided key FY25 figures (Revenue ₹8,500+ Cr, EBITDA margin 35%, PAT ₹1,900+ Cr, ROCE 17%). Several company-owned projects are in progress, including Taj Bandstand, Lakshadweep properties (Suheli, Kadmat), Shiroda, and Goa MOPA, with various stages of development and expected opening timelines. The company also emphasized its commitment to sustainability through its 'Paathya' initiative.

Key takeaway: The presentation showcases IHCL's successful transformation and sets an aggressive, credible growth agenda for the next five years, leveraging India's strong macro tailwinds.

Indian Hotels Company Limited (IHCL) has issued newspaper advertisements on August 22, 2025, in Financial Express (English) and Loksatta (Marathi) to announce a special window for the re-lodgement of transfer requests pertaining to physical shares. This announcement is made in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically referencing Regulation 30 and Regulation 47. The company has also made this information available on its official website, www.ihctata.com. This is a procedural communication related to share transfer processing and does not pertain to financial results, company performance, or future outlook.

Indian Hotels Company Limited (IHCL) held an investor call on August 12, 2025, to discuss its significant inorganic growth move: the acquisition of Clarks Hotels and Resorts.

No historical quarterly/annual results for IHCL were detailed; the focus was on future projections related to the acquisition. Management outlined the strategic rationale: amplifying the Ginger brand, achieving leadership in the mid-scale segment, and unlocking synergies across procurement, shared services, and distribution. The company aims to reposition approximately 135 Clarks hotels (around 7,000 keys) under the Ginger brand. Key strategic initiatives include expanding Ginger's geographic footprint by 70%, converting management contracts to revenue share, and leveraging the Tata Neu loyalty program. Management also highlighted that hotels adopting the Ginger Lean Luxe model achieve over 50% EBITDA margins.

The total investment for the acquisition is INR204 crores, with an enterprise value of approximately INR240 crores. Projections for the acquired portfolio include INR33 crores revenue and INR3 crores EBITDA in FY25, growing to INR60 crores revenue and INR20 crores consolidated EBITDA by FY27, and reaching INR100 crores revenue and INR60 crores consolidated EBITDA (including INR20 crores fees) by FY30. Potential additional revenue of INR50-75 crores is anticipated from converting management contracts to revenue share. The primary capital of INR160 crores will be used for hotel upgrades, conversions, and expanding the Ginger big box model.

The acquisition of Clarks Hotels and Resorts is the primary event. A separate sales and distribution agreement was also signed with Brij Hospitality. IHCL aims to significantly scale the Ginger brand, leveraging this acquisition to establish market leadership in the mid-scale segment. While focusing on mid-scale expansion, management reiterated that the Taj brand remains the company's premier offering. The company sees this acquisition as the start of its inorganic growth journey.

Indian Hotels Company Limited (IHCL) has announced a significant strategic partnership with ANK, Pride, and Brij Hospitality. The core of the deal involves IHCL acquiring a 51% stake in ANK Hotels Pvt Ltd and Pride Hospitality Pvt Ltd for an investment of ₹204 Cr, comprising ₹134 Cr upfront and the balance by June 2026. This acquisition adds 135 midscale hotels with 6,800 keys across 100+ locations to IHCL's portfolio. The move is set to double IHCL's presence in the midscale segment to over 240 hotels, reinforcing its leadership position, and accelerating its 2030 goal of reaching 700+ hotels, with the current portfolio standing at 550+. A distribution and marketing agreement is also in place with Brij Hospitality, which has 19 hotels in its portfolio. The transaction structure includes ₹110 Cr in primary investment and ₹94 Cr in secondary share purchase. The projected financials for the target companies indicate strong growth: Total Revenue is projected to grow at a 5-year CAGR of 25% to ₹100 Cr by FY30, while EBITDAR is expected to grow at a 50% CAGR to ₹50 Cr by FY30, with EBITDA margins reaching 40%. IHCL anticipates a consolidated EBITDA impact of ₹60 Cr from this acquisition by FY30, compared to an EBITDA of ₹3 Cr from the operating portfolio in FY25. The Ginger brand's proven unit economics, showing strong RevPAR and occupancy growth against industry benchmarks, will be leveraged. A conference call is scheduled for August 12, 2025, at 7:30 PM IST to discuss these developments, with the presentation made in compliance with SEBI Listing Regulations.

IHCL has announced a significant strategic partnership by acquiring a 51% stake in ANK Hotels Pvt Ltd and Pride Hospitality Pvt Ltd for a total investment of ₹204 Cr (₹134 Cr upfront, balance by June 2026). This move adds 135 midscale hotels with 6,800 keys across 100+ locations to IHCL's portfolio, doubling its midscale presence to over 240 hotels and reinforcing its leadership in this segment.

The acquisition is a key step towards accelerating IHCL's 'Ahvaan 2025' and 2030 goals, particularly the target of reaching 700+ hotels by 2030. The company expects to unlock synergies through IHCL's sales and distribution backbone, loyalty programs (Tata Neu), procurement strength, and operational efficiencies. Conversions to the Ginger brand and revenue share models are anticipated, enhancing brand equity and driving growth.

Financially, the target companies' combined revenue was projected at ₹33 Cr in FY25 with an EBITDA of ₹3 Cr. Projections indicate substantial growth, with total revenue expected to reach ₹100 Cr and EBITDA ₹20 Cr by FY30, representing CAGRs of 25% and 68% respectively. This is expected to contribute ₹35 Cr to IHCL's consolidated EBITDA by FY28, up from an estimated ₹20 Cr in FY25. EBITDA margins for the acquired entities are projected to improve from 17% to 25%.

IHCL has also entered into a distribution and marketing agreement with Brij Hospitality, which has 19 hotels (10 operational, 9 pipeline). The presentation highlights the growth trajectory and unit economics of the Ginger brand, showcasing its lean luxe transformation playbook and strong RevPAR growth compared to the industry.

The company is hosting an investor and analyst conference call on August 12, 2025, at 7:30 PM to discuss this strategic development.

Indian Hotels Company Limited (IHCL) has announced a major expansion by entering into strategic partnerships for over 150 hotels. This includes definitive agreements to acquire controlling stakes in ANK Hotels Pvt Ltd and Pride Hospitality Pvt Ltd, which together comprise a portfolio of 135 mid-scale hotels previously operated under The Clarks Hotels & Resorts brand. IHCL also signed a distribution agreement with Brij Hospitality Pvt Ltd for its 19 boutique leisure hotels. These combined ventures will increase IHCL's total portfolio to over 550 hotels and approximately 55,000 rooms. The partnerships are set to double IHCL's mid-scale presence to over 240 hotels, primarily integrating the acquired properties under brands like Ginger. Management, through MD & CEO Puneet Chhatwal, highlighted the buoyant demand in India's hospitality sector and IHCL's 'Accelerate 2030' strategy, aiming to unlock tourism potential. The investment will be funded through internal accruals, leveraging the company's strong cash flows. The Brij partnership further strengthens IHCL's brandscape in the experiential boutique luxury segment, with key managerial personnel from the acquired entities continuing to oversee operations.

Indian Hotels Company Limited (INDHOTEL) has filed an intimation with the BSE and NSE regarding a conference call scheduled for Tuesday, August 12, 2025, at 7:30 PM IST. The call is being held to discuss and update stakeholders on the company's agreement to acquire a majority stake in ANK Hotels Pvt Ltd and Pride Hospitality Pvt Ltd. This strategic move was approved by the Committee of the Board of Directors of INDHOTEL on August 11, 2025, leading to the call being scheduled at a shorter notice. The call will provide details regarding this significant acquisition, which is expected to impact INDHOTEL's market position and growth strategy within the hospitality industry. The specific financial terms, integration plans, and the expected impact on earnings or market share will likely be disclosed during the conference call itself. Investors will be looking for details on the transaction's valuation, the target companies' operational performance, and how this acquisition aligns with INDHOTEL's broader expansion plans.

Indian Hotels Company Limited (IHCL) has announced a significant strategic expansion by agreeing to acquire approximately 51% equity stakes in two hotel management companies: ANK Hotels Private Limited and Pride Hospitality Private Limited. The total investment for these acquisitions is capped at ₹204 crore, with ₹110 crore allocated for ANK Hotels and ₹94 crore for Pride Hospitality. These transactions are subject to the fulfilment of certain conditions precedent and are anticipated to be completed by November 15, 2025. ANK Hotels Private Limited, established in 1996, operates and manages 111 midscale hotels under 'The Clarks Hotels & Resorts,' with 67 hotels currently in operation. The company reported a turnover of ₹14.32 crore in FY 2024-25 and has a presence in India and Sri Lanka. Pride Hospitality Private Limited, founded in 2005, manages a portfolio of 24 midscale hotels (13 operational) under the same umbrella brand, recording an unaudited turnover of ₹18.94 crore in FY 2024-25. Its presence is primarily in India. These acquisitions are designed to enhance IHCL’s geographical penetration across India, particularly within the midscale hotel segment, aligning with its continued pursuit of an asset-light growth strategy. The company also entered into a distribution and marketing agreement with Brij Hospitality Private Limited, which manages 19 hotels under the 'Brij Brand.' None of these transactions are related-party transactions.

Indian Hotels Company Limited (INDHOTEL) has received a penalty claim of ₹93,27,92,620/- from the Brihanmumbai Municipal Corporation (BMC) for outstanding property taxes related to its Taj Lands End property for the financial year 2025-26. The claim was received via a Special Notice on August 4, 2025. The company has stated that the payment of property taxes has been made in accordance with the orders of the Hon’ble Supreme Court and Hon’ble High Court. Therefore, INDHOTEL disputes the claim of the penalty on its merits. The company has quantified the potential financial impact as the amount disclosed in the penalty claim itself and has confirmed that there will be no impact on its operations or other activities. The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.