IHCL announced its consolidated financial results for Q2 FY2026, marking the 14th consecutive quarter of record performance. The company reported a revenue of INR 2,124 crores, reflecting a 12% year-on-year growth, alongside a robust EBITDA margin of 30.8%, expanding by 90 basis points.
Puneet Chhatwal, Managing Director & CEO, IHCL, credited the success to a 9% RevPAR growth, 22% growth in new businesses, and a 21% rise in management fee income. He highlighted IHCL’s continued growth momentum with 46 hotel signings and 26 openings, taking the total portfolio to 570 hotels, including over 250 operating properties across India.
Strategic expansion and landmark developments
Under its strategic alliance with Clarks Group, 14 hotels have already been onboarded to IHCL’s sales and distribution network, with more to follow. The iconic Taj Bandstand project in Mumbai has also commenced construction after securing all approvals.
Looking ahead, Chhatwal stated that the outlook for the second half of FY2026 remains strong, driven by a rebound in corporate travel, seasonal social events, and global conventions.
Solid standalone performance and financial stability
Ankur Dalwani, Executive Vice President and CFO, reported that IHCL’s standalone revenue stood at INR 1,166 crores in Q2 FY2026, with an EBITDA margin of 40.8% and PAT margin of 24.8%. Renovations were successfully completed at flagship properties including Taj Fort Aguada Resort & Spa, Goa, Taj Palace, New Delhi, and The Taj Mahal Palace, Mumbai.
He further noted IHCL’s strong balance sheet with a gross cash balance of INR 2,847 crores as of September 30, 2025.
Key highlights – H1 FY2026
Financial performance
- Consolidated hotels delivered a 9% RevPAR growth, with international operations contributing 11%.
- Management fee income rose by 21% to INR 259 crores.
Portfolio growth
- 46 hotels signed across brands including Taj, SeleQtions, Tree of Life, and Ginger.
- 26 new hotels opened, expanding IHCL’s footprint in Alibaug, Raichak, Udaipur, Lakshadweep, Haridwar, Thane, Goa, Coorg, Ahmedabad, and Dehradun.
New and reimagined businesses
- TajSATS reported revenue of INR 577 crores with an EBITDA margin at 23.6%.
- New Businesses (Ginger, Qmin, amã Stays & Trails, Tree of Life) achieved enterprise revenue of INR 423 crores, up 21%.
- Qmin expanded to 104 outlets, amã Stays & Trails reached 331 bungalows, and Tree of Life operates 23 resorts with 5 in pipeline.
ESG+ initiatives | Paathya
IHCL continues to lead the industry with its Paathya ESG+ framework, reinforcing its commitment to sustainability, social responsibility, and ethical growth.
