Highlights
- IHCL reported FY26 revenue growth of 16% year-on-year to INR 9,971 crore.
- Consolidated PAT reached INR 2,084 crore during the financial year.
- IHCL expanded its portfolio to 630 hotels across multiple markets globally.
The Indian Hotels Company Limited (NSE:IHCL-RE) announced its financial results for the fourth quarter and full year ended March 31, 2026.
The company reported consolidated revenue of INR 2,845 crore for Q4 FY26, reflecting a 14% year-on-year increase. EBITDA for the quarter stood at INR 1,052 crore, while EBITDA margin came in at 37%.
For the full financial year FY26, IHCL reported consolidated revenue of INR 9,971 crore, up 16% year-on-year. EBITDA stood at INR 3,477 crore with EBITDA margin at 34.9%, while PAT reached INR 2,084 crore.
The company stated that Q4 FY26 marked its sixteenth consecutive quarter of record performance.
Source: Company Filing
Management Commentary on Business Performance
According to Managing Director and CEO Puneet Chhatwal, the company delivered double-digit revenue growth despite macroeconomic challenges and the impact of the West Asia conflict.
The management highlighted that diversification across brands, geographies, and contract structures contributed to operating leverage and fee-based business growth.
IHCL reported double-digit CAGR between FY23 and FY26 across key metrics, including revenue CAGR of 19%, EBITDA CAGR of 21%, and PAT CAGR of 28%.
Portfolio Expansion and New Business Growth
During FY26, IHCL added three new brands, taking its total major brand count to fourteen.
The company reported 250 hotel signings and expanded its portfolio to 630 hotels globally, including 255 hotels in the pipeline. IHCL also opened or onboarded more than 130 hotels during the fiscal year.
The company invested over INR 1,000 crore during FY26 across greenfield projects, renovations, acquisitions, and digital initiatives.
IHCL also completed majority stake acquisitions in ANK & Pride Hospitality, Atmantan, and Brij Hospitality during the year.
Segment-Wise Performance Highlights
The management fee business recorded 22% growth to INR 685 crore during FY26.
IHCL stated that the Air and Institutional Catering business, TajSATS, reported revenue of INR 1,219 crore, up 16% year-on-year, with EBITDA margin at 24.2%.
New businesses including Ginger, Qmin, amã Stays & Trails, and Tree of Life reported enterprise revenue of INR 1,099 crore, reflecting 37% growth.
Ginger’s enterprise revenue stood at INR 814 crore with EBITDAR margin at 43%.
Balance Sheet and Dividend Proposal
IHCL reported gross cash balance of INR 4,345 crore as of March 31, 2026.
The company proposed a dividend equivalent to 25% of consolidated PAT before exceptional items, including a special dividend linked to IHCL’s 125th AGM.
IHCL also stated that its credit rating was upgraded to AAA+ by ICRA during the fiscal year.
Source: Company Filing
Key Risks Investors Monitor
- Global travel demand fluctuations may impact occupancy and revenue growth.
- Geopolitical tensions can affect international tourism activity.
- Rising operating costs may influence hospitality sector margins.
- Economic slowdown could affect discretionary travel spending.
Summary
IHCL (NSE:IHCL-RE) reported record quarterly and annual financial performance for FY26, marking its sixteenth consecutive record quarter. The company posted consolidated revenue of INR 9,971 crore and PAT of INR 2,084 crore while expanding its hotel portfolio to 630 properties globally. Investors continue tracking hospitality demand trends, expansion activities, travel sector recovery, operating costs, and macroeconomic conditions affecting the sector.
FAQs
Q: What was IHCL’s consolidated revenue in FY26?
A: IHCL reported consolidated revenue of INR 9,971 crore for FY26, up 16% year-on-year.
Q: What was IHCL’s PAT for FY26?
A: IHCL reported PAT of INR 2,084 crore for the financial year ended March 2026.
Q: How many hotels are included in IHCL’s portfolio?
A: IHCL’s portfolio reached 630 hotels globally, including 255 hotels in the pipeline.