IHCL Delivers Historic FY2026 Performance With Record PAT of INR 2,084 Crore
IHCL reported its sixteenth consecutive quarter of record performance, driven by strong revenue growth, expansion across segments, and sustained investments in future-ready hospitality assets.
By SOH Edit Team
Indian Hotels Company Limited (IHCL) has announced its consolidated financial results for the quarter and financial year ended March 31, 2026, reporting strong double-digit growth across key metrics despite macroeconomic challenges and the impact of the West Asia conflict.
For Q4 FY2026, IHCL posted consolidated revenue of INR 2,845 crore, marking a 14% year-on-year increase. EBITDA stood at INR 1,052 crore with an EBITDA margin of 37%.
For the full fiscal year, consolidated revenue reached INR 9,971 crore, up 16% year-on-year, while EBITDA touched an all-time high of INR 3,477 crore with a margin of 34.9%. Profit after tax (PAT) for FY2026 rose to a record INR 2,084 crore.
Sixteenth Consecutive Quarter of Record Performance
Commenting on the results, Puneet Chhatwal, Managing Director & CEO, IHCL, said, “Q4 FY2026 marks sixteenth consecutive quarter of record performance with a consolidated revenue of INR 2,845 crores, a 14% growth over the previous year, EBITDA of INR 1,052 crores and an EBITDA margin of 37%, notwithstanding the impact of West Asia conflict. For FY2026, the company delivered on its guidance of double-digit revenue growth despite macro-headwinds with revenue of INR 9,971 crores, a growth of 16% leading to an all-time high EBITDA of INR 3,477 crores, EBITDA margin of 34.9% resulting in the best ever PAT of INR 2,084 crores.”
He noted that IHCL’s multi-brand presence across hospitality segments, combined with a balanced capital-light growth strategy and selective investments, has enabled the company to deliver consistent performance over sixteen consecutive quarters.
According to Chhatwal, IHCL recorded a strong consolidated CAGR between FY23 and FY26 across all key financial indicators, with revenue growing at 19%, EBITDA at 21%, and PAT at 28%.
Puneet Chhatwal, Managing Director & CEO, IHCL.
Expansion Momentum Continues Across Brands
FY2026 marked a significant year of expansion for IHCL, with the company introducing three new brands, taking its portfolio to fourteen major brands overall. The company also achieved a milestone of 250 hotel signings during the year, expanding its portfolio to 630 hotels, including an industry-leading pipeline of 255 hotels.
IHCL opened or onboarded more than 130 hotels through a combination of inorganic and organic growth initiatives. The expansion focused particularly on strengthening IHCL’s presence in the luxury and experiential leisure segments while also scaling its footprint in the mid-scale market.
As of March 31, 2026, IHCL maintained a strong balance sheet with a gross cash balance of INR 4,345 crore. The company has additionally proposed a dividend payout equivalent to 25% of consolidated PAT before exceptional items, including a special dividend commemorating IHCL’s 125th Annual General Meeting.
Standalone Business Maintains Strong Margins
Ankur Dalwani, Executive Vice President and Chief Financial Officer, IHCL said, “For FY2026, IHCL Standalone reported a revenue of INR 5,640 crores, driven by RevPAR growth of 12% in Q4, clocking a strong EBITDA margin of 45.1%, an expansion of 120 basis points and a PAT of INR 2,012 crores. IHCL Consolidated clocked a double-digit revenue growth this fiscal reflecting a broad-based performance - led by RevPAR growth of 9% from same store hotels, 16% in airline and institutional catering, 25% in New Businesses and 22% in management fee.”
During FY2026, IHCL invested over INR 1,000 crore across multiple strategic initiatives and hospitality assets. Key investments included greenfield projects such as Vivanta and Ginger at Ekta Nagar, a 100-key expansion at Taj Ganges, Varanasi, and renovations at flagship properties including Taj Palace, New Delhi; St. James’ Court, A Taj Hotel, London; and The Taj Mahal Palace & Tower, Mumbai. The company also continued investing in digital transformation initiatives aimed at strengthening operational efficiency and guest experience.
Dalwani also said, “The year also saw the completion of majority stake acquisition in ANK & Pride Hospitality, Atmantan and Brij Hospitality, all significant revenue levers for the future. The Company maintained a healthy pre-tax ROCE of 17% despite investments for acquisitions & capital expenditure. Additionally, IHCL’s credit rating was upgraded in the current fiscal to AAA+ by ICRA.”
