IHCL Posts Record Q3 Performance, Sustains Growth Momentum in FY2026
IHCL reported its consolidated financials for the third quarter and nine months ending December 2025.
By SOH Edit Team
The Indian Hotels Company Limited (IHCL) reported strong consolidated financial results for the third quarter and nine months ended December 31, 2025, marking its fifteenth consecutive quarter of record performance.
For Q3 FY2026, IHCL reported consolidated revenue of ₹2,900 crore, reflecting a 12% year-on-year growth. EBITDA stood at ₹1,134 crore with a robust margin of 39.1%. Performance was driven by strong same-store growth, a 17% increase in airline and institutional catering revenues, and a 31% growth in new businesses. The hotel segment recorded revenues of ₹2,579 crore and delivered its highest-ever quarterly EBITDA of ₹1,050 crore.
Puneet Chhatwal, Managing Director & CEO, IHCL.
Portfolio Expansion and Strategic Growth
Commenting on the results, Puneet Chhatwal, Managing Director & CEO, IHCL, said the company continued its expansion momentum during FY2026. IHCL signed 239 hotels, taking its portfolio to 617 properties, and opened or onboarded 120 hotels during the period, largely through strategic partnerships and acquisitions.
Under its Accelerate 2030 strategy, IHCL further diversified its brand portfolio with the acquisition of a controlling stake in Atmantan, an integrated wellness brand, definitive agreements to acquire a 51% stake in Brij, a boutique experiential leisure brand, and a 51% stake in ANK & Pride Hospitality to scale the Ginger brand. The company maintained a strong balance sheet, with a gross cash balance of ₹3,877 crore as of December 31, 2025.
Ankur Dalwani, Executive Vice President and Chief Financial Officer, IHCL
Standalone Performance Highlights
Ankur Dalwani, Executive Vice President and Chief Financial Officer, IHCL, noted that for Q3 FY2026, IHCL Standalone reported revenue of ₹1,654 crore, an EBITDA margin of 48.2%—up 40 basis points year-on-year—and a profit after tax of ₹921 crore post exceptional items.
For the nine months ended December 2025, IHCL generated approximately ₹1,600 crore in operating cash flows and incurred capital expenditure of around ₹750 crore. Investments were directed towards greenfield projects at Ekta Nagar and Taj Frankfurt, brownfield expansion at Taj Ganges, Varanasi, the upcoming Taj Bandstand project, and renovations across key domestic and international properties including Taj Palace Delhi, Taj Fort Aguada Goa, President Mumbai and St James Court, London.
With a diversified portfolio spanning brands, geographies and business formats, IHCL remains well positioned to deliver sustained, long-term growth.
