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The Indian Hotels Company (INDHOTEL) investor relations material
The Indian Hotels Company Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 25/26 earnings summary4 Nov, 2025
Executive summary
Achieved record performance for the 14th consecutive quarter, with double-digit revenue growth and strong fundamentals despite short-term industry headwinds.
Expanded operational footprint to 268 hotels, with 167 in the pipeline, and closed significant deals including the Clarks portfolio, adding 135 hotels.
Opened two new greenfield hotels in Ekta Nagar and reached the milestone of 250 operating hotels.
Major renovations completed at flagship properties, supporting future growth.
Standalone and consolidated unaudited financial results for the quarter and half year ended September 30, 2025, were reviewed and approved by the Board, with no material misstatements identified.
Financial highlights
Q2 consolidated revenue grew 12% year-on-year to ₹2,124 Cr; EBITDA up 16% to ₹653 Cr; PAT up 15% to ₹285 Cr.
H1FY26 consolidated revenue up 21% YoY to ₹4,226 Cr; EBITDA up 22% YoY to ₹1,291 Cr; PAT up 17% YoY to ₹581 Cr.
Standalone revenue for Q2 FY26 was ₹106,049 lakhs, up from ₹103,533 lakhs in Q2 FY25; standalone net profit for Q2 FY26 was ₹28,912 lakhs, up from ₹25,446 lakhs.
Hotel segment revenue and EBITDA grew by 7% and 12% respectively in Q2, with margin expansion of 140 basis points.
Management fee income grew 21% YoY in H1FY26, driven by asset-light expansion.
Outlook and guidance
Confident of achieving double-digit revenue growth for FY26, supported by strong forward bookings, industry tailwinds, and new hotel openings.
18 hotels expected to open in H2FY26, including 3 owned properties; renovated assets returning to operation and normalization of domestic flights expected to drive H2 growth.
H2 expected to benefit from global events, diplomatic visits, MICE activity, and wedding season.
No explicit forward-looking guidance in statutory filings, but management notes ongoing internal restructuring and business simplification initiatives.
What drove H1 PAT decline despite revenue growth?
Detail the significant increase in capital work-in-progress.
Assess the performance of the Air & Institutional catering segment.
Expected Q4 ARR uplift from completed renovations?
IHCL's competitive edge in securing new hotel deals?
Scale targets for amã and Tree of Life brands?
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Next The Indian Hotels Company earnings date
Q3 25/2616 Jan, 2026
Next The Indian Hotels Company earnings date
Q3 25/2616 Jan, 2026
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Frequently asked questions
The Indian Hotels Company Limited operates in the hospitality sector, managing a diverse portfolio of hotels, resorts, and other hospitality services. It is best known for its luxury brand, Taj Hotels, but also manages other brands that cater to a range of market segments, including upscale, mid-range, and budget travelers. The company offers accommodations, dining, and event spaces, with a focus on providing premium services for leisure and business travelers alike. The company is headquartered in Mumbai, India, and its shares are listed on the NSE.
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