IHCL Marks Fifteenth Consecutive Record Quarter in Q3 FY2025-26

IHCL Marks Fifteenth Consecutive Record Quarter in Q3 FY2025-26

By Manu Vardhan Kannan

Published on February 15, 2026

Indian Hotels Company Limited (IHCL) has announced its consolidated financial results for the third quarter and nine months ended December 31, 2025, marking its fifteenth consecutive record quarter.

For Q3 FY2025-26, IHCL reported consolidated revenue of INR 2,900 crores, reflecting a 12 per cent year-on-year growth. EBITDA stood at INR 1,134 crores with a margin of 39.1 per cent, while Profit After Tax (PAT) reached INR 903 crores after exceptional items.

PAT for the quarter included exceptional gains primarily from the sale of the entire equity stake in a joint venture company amounting to INR 327 crores (net of tax) and an impact of INR 37 crores (net of tax) related to New Labour Codes. In the previous year’s nine-month period, PAT included a one-time exceptional gain of INR 307 crores on account of TajSATS consolidation.

Puneet Chhatwal, Managing Director and CEO, IHCL, highlighted that the quarter’s performance was driven by strong same-store growth as well as non-like-for-like growth. Airline and institutional catering revenues grew by 17 per cent, while new businesses expanded by 31 per cent. The hotel segment reported revenue of INR 2,579 crores, delivering its highest-ever quarterly EBITDA of INR 1,050 crores.

IHCL’s growth trajectory continued through FY2026, with 239 signings during the period, taking its total portfolio to 617 hotels. The company opened and onboarded 120 hotels, supported by strategic partnerships and acquisitions. It now maintains an industry-leading pipeline of 256 hotels.

Under its Accelerate 2030 strategy, IHCL strengthened its brand portfolio with a controlling stake acquisition in Atmantan, an integrated wellness brand. The company also entered into definitive agreements to acquire a 51 per cent stake in Brij, a boutique experiential leisure brand, and scaled the Ginger brand through a 51 per cent acquisition in ANK & Pride Hospitality.

As of December 31, 2025, IHCL Consolidated reported a gross cash balance of INR 3,877 crores, maintaining a strong balance sheet position.

Ankur Dalwani, Executive Vice President and Chief Financial Officer, stated that IHCL Standalone delivered Q3 revenue of INR 1,654 crores, achieving an EBITDA margin of 48.2 per cent, an expansion of 40 basis points, and a PAT of INR 921 crores post exceptional items.

During the nine months ended December 2025, IHCL Consolidated generated cash flows of approximately INR 1,600 crores and incurred capital expenditure of INR 750 crores. Investments were directed toward greenfield developments at Ekta Nagar and Taj Frankfurt, brownfield expansion at Taj Ganges Varanasi, and the upcoming Taj Bandstand project. Renovations were also undertaken at key properties including Taj Palace New Delhi, Taj Fort Aguada Goa, President Mumbai and St. James’ Court London.

With a diversified topline across brands, geographies and contract formats, IHCL remains well positioned to sustain its growth momentum in the coming quarters.


Jerai Fitness Limited and Plus Fitness India Announce 100-Gym Expansion Across India

Jerai Fitness Limited and Plus Fitness India Announce 100-Gym Expansion Across India

By Manu Vardhan Kannan

Published on March 7, 2026

India’s fitness industry is entering a high-growth phase as Jerai Fitness Limited and Plus Fitness India announce a strategic collaboration to expand 100 gyms across the country.

The partnership brings together global franchise expertise and over three decades of Indian manufacturing excellence, creating a powerful ecosystem for aspiring gym entrepreneurs. Built on a shared vision of fostering a healthier and fitter India, the collaboration aims to simplify gym ownership while accelerating the growth of organized fitness infrastructure nationwide.

A key highlight of the collaboration is the introduction of a bundled franchise and equipment model. By integrating franchise support with equipment procurement into one streamlined system, the partnership removes vendor coordination complexities and reduces setup delays for new entrepreneurs.

This integrated approach ensures scalability, operational uniformity, and long-term sustainability, making it significantly easier for franchise partners to establish and manage gyms efficiently.

Rajesh Rai, Chairman & MD, Jerai Fitness Limited, emphasized the company’s commitment to in-house production. He noted that domestic manufacturing enables quality control, cost efficiency, reduced import dependency, and active support for the ‘Make in India’ initiative.

Jerai Fitness Limited is widely recognized as a pioneer in fitness equipment manufacturing, leveraging automated processes such as robotic welding, fully automated assembly lines, and advanced Turkish and Japanese machinery. Its operational strengths span manufacturing, inventory management, distribution efficiency, and customer service, foundations that now support this large-scale expansion.

Plus Fitness India, led by Master Franchisee Siraj Lalani, has positioned itself as one of the fastest-growing international gym franchise brands. The network operates over 350 clubs globally across markets including Australia, New Zealand, India, and several Asia-Pacific countries.

The brand’s 24/7 access model, standardized global infrastructure, and technology-driven operations have enabled consistent performance across regions.

According to Faiz Sopariwala, Business Development Head at Plus Fitness India, the collaboration aims not just to open gyms, but to build profitable and sustainable businesses for franchise partners while contributing to a healthier nation.

India’s fitness market is projected to witness significant growth in the coming years, driven by rising health awareness, corporate wellness initiatives, and evolving lifestyle trends. As per industry estimates, the Indian fitness equipment market, valued at approximately ₹2,500 crore in 2024 is expected to reach ₹4,600 crore by 2029, growing at a CAGR of 13%.

The 100-gym expansion strategy aligns with this rising demand for organized fitness infrastructure across Tier 1, Tier 2, and Tier 3 cities.

With Jerai Fitness Limited’s automated manufacturing capabilities and Plus Fitness India’s global franchise credibility, the partnership offers a comprehensive and scalable model for entrepreneurs.

As India continues its shift toward a more health-conscious future, this collaboration marks a strong step toward making world-class fitness infrastructure accessible, affordable, and operationally seamless across the country.


Sushma Khichar Highlights Women’s Leadership in Hospitality

Sushma Khichar Highlights Women’s Leadership in Hospitality

By Manu Vardhan Kannan

Published on March 7, 2026

On the occasion of International Women’s Day, Sushma Khichar, General Manager of Sheraton Grand Bangalore Hotel at Brigade Gateway, shares her perspective on the evolving role of women in the hospitality industry and the significance of creating inclusive workplaces.

From the standpoint of a general manager, she believes Women’s Day offers an opportunity to reflect on the progress the hospitality sector has made while also acknowledging the work that still remains. The industry has long benefited from the qualities women bring to the workplace, including strength, sensitivity, adaptability, and the ability to build meaningful guest connections.

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She highlights that in recent years, the hospitality industry has witnessed a growing number of women stepping into operational and leadership roles, which signals a positive shift for the future of the sector. According to her, this transformation is encouraging as it not only strengthens organizational culture but also brings fresh perspectives to leadership and service excellence.

In her view, the true spirit of Women’s Day lies in creating inclusive workplaces where women have equal access to opportunities, exposure to leadership, and clear pathways for career advancement. When organisations empower women to lead, it fosters a culture of collaboration, improves guest experiences, and contributes to long-term business success.

She further emphasises that real progress will be achieved when diversity in leadership becomes a natural and consistent part of the industry rather than an occasional milestone. As the hospitality sector continues to evolve, leaders believe that empowering women and encouraging inclusive growth will remain essential to shaping a stronger and more dynamic future.


Spectrum Metro Brought the Magic of Braj Holi to Noida and the Crowd Loved It

Spectrum Metro Brought the Magic of Braj Holi to Noida and the Crowd Loved It

By Hariharan U

Published on March 6, 2026

Noida got a proper taste of Braj this Holi and Spectrum Metro was the venue that made it happen. The mall hosted a special celebration called 'Braj Ka Rang, Spectrum Metro Ke Sang', and it turned out to be exactly what the name promised, a full-on festive evening rooted in the rich Holi traditions of Braj, the land most associated with Lord Krishna's celebrations.

The evening had something for everyone. A graceful Radha-Krishna performance set a devotional tone early on, followed by a visually stunning Phoolon Ki Holi where visitors played with flowers instead of colour powder. Then things picked up with energetic Bollywood dance acts and a pulsating Live DJ that kept the energy going right through the night. Devotion and entertainment, all in one place.

Families, shoppers, and festive-goers all showed up in big numbers, filling the mall with colour, laughter, and celebration. The event was open to all, and the turnout clearly reflected how much people were looking forward to something like this.

imageAjendra Singh, Vice-President – Sales & Marketing at Spectrum Metro, summed it up well, "Festivals play a vital role in bringing communities together. Through 'Braj Ka Rang, Spectrum Metro Ke Sang', we aimed to recreate the cultural essence of Holi while offering our visitors a memorable and joyful experience. The overwhelming response truly reflects the strong bond we share with our patrons."

It's becoming clear that malls in the NCR region are stepping up when it comes to festive experiences  and Spectrum Metro just set a pretty high bar for Holi done right

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