IHCL Records 18th Consecutive Quarter of Record Performance
Mr Puneet Chhatwal, Managing Director and CEO of IHCL, said Q2 FY2027 marked the company’s eighteenth consecutive record quarter. Consolidated EBITDA stood at ₹788 crore, with a margin of 30.7%, while profit after tax (PAT) reached ₹349 crore, an increase of 23% year-on-year.
Operating revenue and operating EBITDA grew by 22% and 24%, respectively, with a 50-basis-point expansion in operating EBITDA margin.
The key revenue drivers included a 25% increase in RevPAR at domestic same-store hotels, a 25% rise in management fee income driven by new hotel openings, and 25% revenue growth in the Select Service Business. Contributions from recent acquisitions, Brij and Atmantan, also supported performance.
IHCL Upgrades FY2027 Revenue Growth Guidance
IHCL recorded 47 signings across its brand portfolio in the first half of FY2027, taking its portfolio to 670 hotels. The company is now positioned to achieve its Accelerate 2030 target of 700 hotels ahead of schedule.
Building on its first-half performance, IHCL has revised its consolidated revenue growth guidance for FY2027 from 12-14% to 15-17%. The company expects hotel segment revenue growth of 17-19%, supported by seasonally strong upcoming quarters, demand from social and MICE events, and growth from recently added properties.
Standalone Revenue Rises 26%, EBITDA Margin Expands
Mr Ankur Dalwani, Executive Vice President and Chief Financial Officer of IHCL, said the company’s standalone business reported operating revenue of ₹1,336 crore in Q2 FY2027, up 26% year-on-year.
Operating EBITDA increased 40% to ₹520 crore, while the operating EBITDA margin expanded by 400 basis points to 38.9%. Standalone PAT rose 36% to ₹393 crore.
Performance was supported by 28% RevPAR growth across full-service same-store hotels, driven by major events in the capital and contributions from renovated properties in key markets, including Goa, Delhi, Bengaluru and Udaipur.
As of September 30, 2026, IHCL Consolidated reported gross cash of ₹4,369 crore, reflecting its strong balance sheet position.
IHCL Announces OHL Merger to Simplify Group Structure
During the quarter, IHCL also announced the merger of OHL with IHCL. According to the company, the proposed merger is intended to simplify the group’s holding structure, expand asset management opportunities and accelerate long-term revenue growth.
The scheme has been filed with the stock exchanges, with an appointed date of April 1, 2027.
