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.