IHCL posts revenue of Rs 2,842 crore, PAT of Rs 954 crore in Q3

Tata Group-backed Indian Hotels Company (IHCL) has reported operations revenue of Rs 2,842 crore for the third quarter of this financial year, up 12% year-on-year. The chain reported a net profit of Rs 954 crore, compared to Rs 632 crore in the corresponding period of the previous fiscal.The company said the net profit is after exceptional items, mainly including gain on sale of entire equity stake in a joint venture of Rs 327 crores (net of taxes) and an impact due to new labor laws of Rs 37 crores (net of taxes). The chain said its hotel segment reported revenues of Rs 2,579 crore, resulting in its best-ever quarterly EBITDA of Rs 1,050 crore.

IHCL MD and CEO Puneet Chhatwal said the third quarter of FY2026 marks the fifteenth consecutive quarter of ‘record performance’ with an EBITDA of Rs 1,134 crore and an EBITDA margin of 39.1%.”Sales in the quarter were driven by strong same-store, non-like-for-like performance, supported by 17% growth in airline and institutional catering and 31% growth in new business. The hotel segment reported revenues of Rs 2,579 crore, resulting in best-ever quarterly EBITDA of Rs 1,050 crore,” he added.

He said IHCL has continued its growth momentum in fiscal 2026 with 239 contracts to reach a portfolio of 617 hotels and opened and onboarded 120 hotels, led by ‘strategic’ partnerships and acquisitions.

Chhatwal said under Accelerate 2030, the chain has expanded its brand landscape with the acquisition of a controlling stake in Atmantan, an integrated wellness brand, and entered into definitive agreements to acquire a 51% stake in Brij, a boutique experiential leisure offering, and scaled up the Ginger brand with a 51% acquisition in ANK & Pride Hospitality.

“IHCL consolidated continues to maintain a healthy balance sheet with a gross cash balance of Rs 3,877 crores as of December 31, 2025. IHCL is well placed to deliver sustainable performance, enabled by diversified revenue across brands, geographies and contract types,” he added. He said the chain’s pipeline is as high as the number of rooms in operations.

“IHCL is probably the only company across all sectors that is growing and still maintaining EBITDA growth and EBITDA margins. We are scaling and we are scaling profitably,” he added. He said the agreements for the first 25 hotels to migrate from the ANK portfolio have been executed or agreed.

“So when we report the first quarter numbers, you see very different numbers for brands like Ginger,” he added.

For nine months ended December 31, the chain posted a revenue from operations of Rs 6,924 crore, up from Rs 5,909.4 crore. IHCL posted a net profit of Rs 1,602 crore for nine months ended December 31, 2025, up from Rs 1,475.4 crore.

Ankur Dalwani, Executive Vice President and Chief Financial Officer of IHCL said that during the nine months ended December 2025, the consolidated IHCL generated cash of around Rs 1,600 crore and incurred capital expenditure worth Rs 750 crore on greenfield projects at Ekta Nagar, Taj Frankfurt, brownfield expansion at Taj Ganges Varanasi and the upcoming Taj Bandstand project, along with renovations to key hotels such as Taj Palace Delhi, Taj Fort Including Aguada Goa, President Mumbai and St James Court London.