Indian Hotels Co
Indian Hotels Co Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
IHCL expects double-digit revenue growth in FY’26 and FY’27 supported by strong like-for-like momentum and a robust pipeline providing multi-year visibility. IHCL expects continued double-digit revenue growth in FY’26 and FY’27, supported by sustained like-for-like momentum and a robust pipeline.
From Indian Hotels Co's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- IHCL expects double-digit revenue growth in FY’26 and FY’27 supported by strong like-for-like momentum and a robust pipeline providing multi-year visibility.
- Like-for-like revenue growth momentum is expected to continue driven by favorable demand-supply dynamics and sharper asset management focus.
- A strong forward pipeline including balance sheet assets and greenfield projects supports sustained revenue and EBITDA expansion.
- Management fee income is projected to grow in the high teens, driven by 60+ hotel openings and capital-light expansion.
- Ginger and new business verticals are expected to deliver 25%+ revenue growth supported by integration benefits and scale efficiencies.
2 more points management made on revenue & sales performance
Profitability & Margins
See what Indian Hotels Co said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- IHCL plans to spend approximately INR 1,000 crores in CAPEX in the current year, covering routine maintenance, renovations, and expansions.
- Key renovation projects include Taj Mahal Palace in Colaba (two floors recently completed with rates almost doubled), Chambers (including a new restaurant Loya and planned Italian restaurant), Lands End, and Chambers in London.
- CAPEX for the next year is expected to be in a similar range as the current year, with a possible variation of +/-5% to +/-10%.
- Long-term CAPEX may increase in 2-3 years as the Bandstand project scales up.
- IHCL's strong operating cash flows are sufficient to fund CAPEX without financial strain, leaving potential for additional inorganic growth investments.
2 more points management made on capital expenditure plans
Top-ranked in Leisure Services
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Indian Hotels Co said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- The Indian Hotels Company Limited (IHCL) has a strong forward pipeline of approximately 30,200 keys under development, which is nearly equal to their current operational portfolio of 32,300 keys.
- About 80% of the pipeline is based on a capital-light model (managed or revenue share lease structures), with only 6% owned or leased. Overall, 94% of the pipeline is on a capital-light model.
- IHCL expects to open over 60 new hotels in FY’27, supporting high-teen growth in management fee income.
2 more points management made on order book & pipeline
Indian Hotels Co — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹2.8K Cr, net profit ₹645 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Indian Hotels Co Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Indian Hotels Co Q3 FY26 results?
IHCL expects double-digit revenue growth in FY’26 and FY’27 supported by strong like-for-like momentum and a robust pipeline providing multi-year visibility. IHCL expects continued double-digit revenue growth in FY’26 and FY’27, supported by sustained like-for-like momentum and a robust pipeline.
What is Indian Hotels Co share price analysis?
Indian Hotels Co currently shows a neutral. The stock trades at a P/E of 52.7 with a market cap of ₹102,487 Cr. Investors should review the full earnings analysis for detailed insights.
Is Indian Hotels Co planning capital expenditure?
IHCL plans to spend approximately INR 1,000 crores in CAPEX in the current year, covering routine maintenance, renovations, and expansions.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.