ITC Hotels (ITCHOTELS) investor relations material

Executive summary

• Q2 FY27 consolidated total income was ₹1,106 crore, up 25% YoY, and PAT was ₹203 crore, up 52%; standalone total income was ₹937 crore, up 16%, and PAT was ₹207 crore, up 37%.

• H1 FY27 consolidated total income rose 20% to ₹2,101 crore; PAT increased 44% to ₹385 crore.

• Q2 consolidated revenue from operations was ₹1,054.14 crore and net profit ₹202.65 crore; H1 revenue was ₹1,990.16 crore and net profit ₹384.56 crore.

• Statutory auditors issued unmodified limited-review conclusions on standalone and consolidated results.

Financial highlights

• Consolidated Q2 EBITDA was ₹337 crore, up 37%, with a 32% margin versus 29%; PBT was ₹277.98 crore versus ₹188.69 crore a year earlier.

• H1 consolidated EBITDA rose 28% to ₹630 crore, with a 32% margin; PBT was ₹526.18 crore versus ₹377.49 crore a year earlier.

• Standalone Q2 revenue from operations was ₹884.68 crore; EBITDA was ₹301 crore, up 28%, with a 34% margin versus 31%; net profit was ₹207.42 crore.

• Consolidated Q2 total expenses were ₹831.33 crore, including ₹112.45 crore depreciation and amortization, ₹206.57 crore employee benefits and ₹41.20 crore branded-residences development costs.

Outlook and guidance

• Targeting 250 operational hotels and 22,000+ keys by 2031, versus 156 hotels and 14,300+ keys at Sep 30, 2026; target mix is 33% owned and 67% managed, versus 41% and 59% currently.

• Growth plan targets owned keys rising from 5,800+ to ~7,500 and managed keys from ~8,500 to ~15,000 through openings, expansion, signings and inorganic growth.

• Managed pipeline stood at 84 hotels and ~8,200 keys; H1 signings rose to 20 from 15 in H1 FY26.

• Retail and office space rentals at ITC Ratnadipa are expected to commence from Q4 FY27.