Date: October 21, 2026

Financial Performance Summary

Consolidated Results for Q2 FY2027:

  • Revenue: ₹2,566 crores, up 21% YoY
  • Hotel Segment Revenue: Up 24% YoY
  • EBITDA: ₹788 crores, up 21% YoY
  • EBITDA Margin: 30.7%
  • PAT: ₹349 crores, up 23% YoY

Standalone Entity Performance for Q2 FY2027:

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

Performance Drivers

Revenue Growth Factors:

  • 25% increase in RevPAR from domestic same store hotels
  • 25% increase in management fee income led by new openings momentum
  • 25% revenue growth in Select Service Business
  • Contribution from recent acquisitions of Brij and Atmantan

Standalone Performance Drivers:

  • RevPAR growth of 28% in full-service same store hotels
  • Marquee events in the capital
  • Contribution from renovated assets in key markets: Goa, Delhi, Bengaluru, and Udaipur

Strategic Developments

Portfolio Expansion:

  • 47 signings in the first half across the brandscape
  • Current portfolio: 670 hotels
  • On track to achieve 700-hotel portfolio guidance under Accelerate 2030 ahead of schedule

Merger Announcement:

  • Merger of OHL with IHCL announced
  • Scheme filed with Stock Exchanges
  • Appointed Date: April 1, 2027
  • Expected benefits: Simplify group holding structure, expand asset management opportunities, accelerate long-term revenue growth

Financial Position

Balance Sheet Strength:

  • Gross cash position: ₹4,369 crores as on September 30, 2026 (Consolidated)

Guidance Update

Upgraded FY2027 Revenue Guidance:

  • Previous guidance: 12-14% growth
  • New guidance: 15-17% growth
  • Hotel segment revenue guidance: 17-19% growth

Growth Drivers for Upgraded Guidance:

  • Seasonally strong quarters ahead
  • High demand from social and MICE events
  • Strong non-like-for-like growth

Operational Metrics

Brand Portfolio:

  • Diversified brandscape including Taj, Claridges Collection, Brij, Atmantan, SeleQtions, Clarks, Gateway, Vivanta, Tree of Life, and Ginger
  • Portfolio spans 4 continents, 15 countries, over 300 locations

Awards & Recognition:

  • Taj recognized as India's Strongest Brand across sectors for the sixth time (Brand Finance)
  • Taj recognized as World's Strongest Luxury Hotel Brand 2026 for the fifth time (Brand Finance)
  • Multiple Michelin Keys and other hospitality awards across properties

Management Commentary

Puneet Chhatwal, MD & CEO: Emphasized that the consistent performance demonstrates IHCL's scalable and diversified operating model enabling robust growth while preserving margin strength.

Ankur Dalwani, EVP & CFO: Highlighted the strong standalone performance and balance sheet strength, noting the strategic rationale behind the OHL merger.