Summary

The Indian Hotels Company Limited (IHCL), India’s largest hospitality company, reported its consolidated financials for third quarter and nine months ended December 31, 2025. The company reported a revenue of INR 2,900 crores, a 12% growth over the previous year, EBITDA of 1,134 crores and an EBITDA margin of 39.1%. The revenue in the quarter was driven by a strong same store performance, not like for like growth, supported by a 17% growth in airline and institutional catering and 31% growth in New Businesses.

Key Highlights

1. 1

   Consolidated revenue of INR 2,900 crores, a 12% growth over the previous year

2. 2

   EBITDA of 1,134 crores and an EBITDA margin of 39.1%

3. 3

   Revenue driven by a strong same store performance

4. 4

   17% growth in airline and institutional catering

5. 5

   31% growth in New Businesses

6. 6

   239 signings to reach a portfolio of 617 hotels

7. 7

   120 hotels opened and onboarded

8. 8

   Air & Institutional Catering business segment (TajSATS) clocked a revenue of INR 323 crores, 17% growth over the previous year