IHCL Q2 FY27 Earnings Call Transcript Released; Revenue Up 22% to ₹2,484 Cr
IHCL reported Q2 FY27 consolidated revenue up 22% to ₹2,484 Cr and standalone revenue up 26% to ₹1,336 Cr. Full-year revenue growth guidance raised to 15-17%. The company signed 47 hotels and opened 20 in H1 FY27, nearing 400 operational hotels. Merger with OHL expected to add 6-7% revenue in FY28.
The announcement includes a significant upward revision of the company's revenue growth guidance, strong financial performance metrics, accelerated expansion plans, and a strategic merger, all of which are material events likely to impact investor sentiment and the company's valuation.
The company reported strong financial results with significant year-on-year growth in revenue and EBITDA, exceeding previous performance records. It also raised its full-year guidance and highlighted accelerated portfolio expansion and successful strategic initiatives like the OHL merger, indicating a positive outlook.
The Indian Hotels Company Limited (IHCL) has released the transcript of its Global Conference Call for the quarter and half-year ended September 30, 2026, held on October 21, 2026. The company reported a continued record performance for the 18th consecutive quarter. Consolidated operating revenue grew by 22% year-on-year to ₹2,484 crores, with Operating EBITDA increasing by 24% to ₹706 crores, resulting in a 28.4% EBITDA margin. Net profit saw a 23% rise to ₹349 crores.
On a standalone basis, operating revenue grew by 26% to ₹1,336 crores, and operating EBITDA surged by 40% to ₹520 crores, achieving a margin of 38.9%. The company announced an upward revision of its full-year consolidated revenue growth guidance to 15% to 17%, from the previously communicated 12% to 14%, with the hotel segment expected to grow by 17% to 19%. This revision is driven by strong domestic demand, double-digit RevPAR growth across all brands, and effective asset management, including upgrades to key properties like Taj Palace, New Delhi.
The company is accelerating its portfolio expansion, with 47 hotels signed and 20 opened in H1 FY27, bringing the total portfolio to 670 hotels. IHCL is on track to surpass 400 operational hotels by November. The growth remains capital-light, with 94% of the pipeline under management contracts or capital-light leases. Management fee income grew by 25% to ₹156 crores.
Key highlights also included the select service business (Ginger, Qmin, Ama, Tree of Life) showing robust performance, with Ginger becoming India's first hotel brand to reach 100 operational hotels. IHCL maintained a strong balance sheet with over ₹4,350 crores in cash reserves. The strategic merger of Oriental Hotels Limited (OHL) with IHCL is expected to unlock synergies and drive standalone operating revenue growth of 6% to 7% in FY28, with the appointed date for the merger set for April 1, 2027.
IHCL's ESG++ initiative, Paathya, is on track for its 2030 targets, with advancements in renewable energy usage and EV charging stations. Taj was recognized as the World's Strongest Luxury Hotel Brand by Brand Finance, and Taj Falaknuma Palace and Taj Lake Palace retained their 3 Michelin keys rating. The company expressed confidence in delivering its upgraded guidance for FY27 and anticipates FY28 to be even better than FY27.
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The Indian Hotels Company Limited filed this with the NSE as a statutory disclosure, categorised under concall transcript released. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by The Indian Hotels Company Limited. Read the original for the full detail.