IHCL Reports Record Q1 FY26 Results, Marks 13 Consecutive Quarters of Growth; Expands Portfolio to 390+ Hotels

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Chandigarh: The Indian Hotels Company Limited (IHCL), India’s largest hospitality group and parent to the iconic Taj brand, announced its consolidated financial results for the first quarter ending June 30, 2025 (Q1 FY26), continuing its streak of record-breaking performance for the thirteenth consecutive quarter. The company reported strong revenue growth, robust profitability, and an aggressive expansion strategy, reinforcing its leadership position in the global hospitality industry.

Financial Performance: Double-Digit Growth Across Metrics

IHCL reported consolidated revenue of ₹2,102 crore for Q1 FY26, representing a 32% year-on-year increase compared to ₹1,596 crore in Q1 FY25. EBITDA rose by 29% to ₹637 crore, with an EBITDA margin of 30.3%. The company’s Profit After Tax (PAT) also registered a healthy 19% YoY growth, reaching ₹296 crore versus ₹248 crore in the same quarter last year.

Metric	Q1 FY26	Q1 FY25	Growth
Revenue	₹2,102 Cr	₹1,596 Cr	↑ 32%
EBITDA	₹637 Cr	₹496 Cr	↑ 29%
EBITDA Margin	30.3%	31.0%	↓ 0.7pp
PAT	₹296 Cr	₹248 Cr	↑ 19%

(Note: Financials include TajSATS subsidiarisation effective August 2024)

The hotel segment alone contributed ₹1,814 crore in revenue, reflecting a 14% YoY increase, while maintaining a strong EBITDA margin of 31.4%.

CEO Commentary

Puneet Chhatwal, Managing Director & CEO, IHCL, stated:
“Q1 FY2026 marks the thirteenth consecutive quarter of record performance. In line with our guidance, the company reported a double-digit growth in consolidated revenue. This performance was enabled by diversification of our top line across same store hotels, not like for like growth and new businesses consolidated revenue growing by 27% over the previous year. The hospitality sector, despite geopolitical headwinds, continues to show resilience and sustained growth.”

He further added:
“IHCL continued its growth momentum with 12 signings, taking the portfolio to 390+ hotels, and opened 6 new hotels during the quarter. Maintaining its leadership, Taj continues to be an icon in the global hospitality landscape, recently ranked by Brand Finance UK as the World’s Strongest Hotel Brand for 2025 for the fourth consecutive time, and India’s strongest brand across sectors for the fifth year in a row.”

Operational Highlights

Domestic Hotels: Same store hotels delivered 11% consolidated RevPAR growth, maintaining a 60% premium vs industry.
International Portfolio: Reported 78% occupancy, up 460 basis points, resulting in RevPAR growth of 13%.
Management Fee Income: Grew 17% YoY to ₹133 crore, driven by new signings and expansion.

Portfolio Expansion: 390+ Hotels and Counting

IHCL signed 12 new hotels across its diverse brandscape during Q1 FY26, including:

5 Taj Hotels (including 3 luxury wildlife lodges in Kruger National Park, South Africa).
2 SeleQtions properties, 2 Ginger hotels, and one hotel each under Gateway, Vivanta, and Tree of Life brands.

The company also opened 6 new hotels, including:

A Taj resort in Alibaug.
2 SeleQtions resorts in Lakshadweep.
A Gateway property in Coorg.
A Ginger hotel in Dehradun.

New Businesses & Reimagined Segments

TajSATS (Air & Institutional Catering) clocked ₹290 crore in revenue, growing 21% YoY, with an EBITDA margin of 23.5%.
New Businesses vertical (Ginger, Qmin, amã Stays & Trails, Tree of Life):
- Enterprise revenue: ₹212 crore, up 25%.
- Consolidated revenue: ₹162 crore, up 27%.
Ginger Hotels achieved an Enterprise revenue of ₹180 crore with 40% EBITDAR margin and a portfolio of 105 hotels including 31 in pipeline.
Qmin expanded to 93 outlets.
amã Stays & Trails reached 309 bungalows (138 operational).
Tree of Life expanded to 21 resorts (18 operational).

Strong Balance Sheet

Ankur Dalwani, EVP & CFO, IHCL, commented:
“On the back of strong domestic demand, IHCL Standalone reported revenue of ₹1,099 crore, a 13% increase over last year, with an EBITDA margin of 38% and PAT growth of 17% at ₹245 crore. IHCL Consolidated continues to maintain a healthy balance sheet with a gross cash balance of ₹3,073 crore as on June 30, 2025.”

Commitment to Sustainability: PAATHYA Framework

IHCL continues to lead the industry with its ESG+ framework PAATHYA, focusing on sustainability, inclusivity, and responsible tourism, in line with global environmental and social governance benchmarks.

Outlook

With a strong pipeline, robust financial performance, and strategic investments in luxury, lifestyle, and budget segments, IHCL is well-positioned to capitalize on India’s tourism growth and global travel rebound. The company aims to expand its portfolio beyond 400 hotels in the near term while maintaining strong financial discipline and ESG leadership.

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