Indian Hotels Company Ltd. Results

Q3FY25 Quarterly Result Announced for Indian Hotels Company Ltd.

Hotels company Indian Hotels Company announced Q3FY25 results 29% Revenue growth at Rs 2,592 crore, 32% EBITDA growth at Rs 1,020 crore. EBITDA margin of 39.4%, an expansion of 80 bps. PAT at Rs 582 crore, growth of 29% YoY. Sets new growth benchmark in 2024. Puneet Chhatwal, Managing Director & CEO, IHCL, said: “Q3 marks eleven consecutive quarters of record performance with the hotel segment reporting a strong revenue growth of 16% resulting in EBITDA margin of 40.9%. The revenue performance was driven by 40% increase in New Businesses, not like for like growth and double-digit growth in same store hotels led by 20% growth in the US portfolio. With the consolidation of air and institutional catering business, Revenue and PAT grew by 29% at Rs 2,592 crore and Rs 582 crore respectively. In Q4 and the subsequent quarters of the next financial year, the sector will continue to witness demand buoyancy on account of large-scale regional events, weddings and sustained transient travel.” “In line with Accelerate 2030, IHCL sets a new growth benchmark with 55 signings and 20 openings till date this fiscal and 85% of these signings are capital light. With a portfolio of 360 hotels and an industry leading pipeline of 123 hotels, IHCL at this pace of growth is well poised to reach 700 hotels by 2030.” Ankur Dalwani, Executive Vice President and Chief Financial Officer, IHCL said: “With continued demand buoyancy in the domestic market IHCL Standalone reported a revenue of Rs 1,517 crore, an increase of 15% over the previous year, EBITDA margin 47.8%, an expansion 240 basis points and a 23% growth in PAT at Rs 469 crore. Led by a broad-based business performance, IHCL Consolidated reported EBITDA margin of 39.4% an expansion of 80 bps resulting in a strong gross cash position as on 31st December of Rs 2,823 crore.” “The company in January has acquired 55% shareholding in Rajscape Hotels, the brand holding company of Tree of Life and will form a part of IHCL Consolidated from Q4.”

H1FY25 & Q2FY25 Result Announced for Indian Hotels Company Ltd.

Hotels company Indian Hotels Company announced H1FY25 & Q2FY25 results Q2FY25 Financial Highlights: Revenue: Rs 1,890 crore, up by 28% YoY. EBITDA: Rs 565 crore, up by 40% YoY. EBITDA margin: 29.9% for Q2FY25. PAT: Rs 555 crore, up by 232% YoY. H1FY25 Financial Highlights: Revenue: Rs 3,486 crore, up by 16%, YoY. EBITDA: Rs 1,061 crore, up by 23% YoY. EBITDA margin: 30.4% for Q2FY25. PAT: Rs 803 crore, up by 106% YoY. Puneet Chhatwal, Managing Director & CEO, IHCL, said: “The second quarter witnessed a strong revival of demand resulting in overall revenue growth of 28% and 16% growth for the hotel segment, marking the best ever Q2 Consolidated EBITDA margin at 29.9%. For FY2025, we continue to maintain a guidance of double-digit revenue growth led by the sustained growth in New Businesses, not like for like growth and healthy same store performance. This is reflected in a strong 16.5% growth in consolidated hotel segment revenue in October which is set to accelerate in the remaining months of Q3.” “IHCL has achieved a record signing of 42 hotels resulting in an industry leading portfolio of 350 hotels and met its market guidance of opening two hotels a month with 14 new hotel openings till date. IHCL will take over the management of landmark hotel The Claridges, New Delhi in April 2025 under a hotel operating agreement. In addition, IHCL has entered into definitive agreements to acquire majority shareholding in Tree of Life brand holding company, expanding its brandscape with a boutique leisure offering.” Ankur Dalwani, Executive Vice President and Chief Financial Officer, IHCL said: “In Q2, IHCL Consolidated for hotel segment reported a strong EBITDA margin of 30.5%, a 330-basis points expansion, led by doubledigit revenue growth and sustained operational leverage. IHCL Standalone reported an all-time high Revenue of Rs 1,125 crore, a year on year growth of 19% and an EBITDA margin of 38.6%, an expansion of 390 basis points. Reflective of a strong balance sheet, the gross cash position for IHCL Consolidated as on 30th September 2024 stood at Rs 2,460 crore. “In line with our strategy of simplifying the holding structure, TajSATS is fully consolidated in IHCL, for 2 months in Q2. IHCL Consolidated PAT grew 48% on year-on-year basis to Rs 247 crore, excluding an exceptional item of Rs 307 crore on account of this consolidation.”

Q1FY25 Quarterly Result Announced for Indian Hotels Company Ltd.

Indian Hotels Company announced Q1FY25 results: Financial Highlights: Revenue: Rs 1,596 crore, up by 5% YoY EBITDA: Rs 496 crore, up by 8% YoY EBITDA%: 31.0%, up by 0.7 percentage points PAT: 248 crore, up by 12% Performance highlights: Outperformed the industry on domestic same store RevPAR with a premium of 60% vs competition. New Businesses vertical comprising of Ginger, Qmin, and amã Stays & Trails reported a revenue of Rs 162 crore, a growth of 37% over the previous year. The Reimagined Businesses of TajSATS and The Chambers (membership fee) reported a revenue of Rs 274 crore, a growth of 17% over the previous year. Management Fee income stood at Rs 114 crore, 17% over the previous year, in line with capital light growth strategy IHCL continues to demonstrate industry leading growth with 16 hotels signed and 6 hotels opened. The recent signings are well represented across all brands with 6 Taj, 2 each of SeleQtions, Tree of Life and Ginger, 1 Vivanta and 3 under the reimagined Gateway brand. In Q1, IHCL opened 6 hotels with a SeleQtions hotel in Mahabaleshwar, Vivanta in Jamshedpur, a Ginger in Nagpur and Jamshedpur and Tree of Life resorts in Gangtok and Srinagar Commenting on the quarter’s performance, Puneet Chhatwal, Managing Director & CEO, IHCL, said, “IHCL consolidated reported a strong financial performance for the first quarter with an all -time high revenue of Rs 1,596 crore and a healthy EBITDA margin of 31%. Our performance was enabled by a diversified top line, with new businesses growing at 37% over the previous year and incremental revenues from the not like for like growth. Continuing the growth momentum our portfolio is now over 325 hotels with 16 signings and 6 openings in the quarter.” He added, “With demand continuing to outpace supply and favourable structural tailwinds, the sector is set to clock strong revenue growth in the quarters ahead.” Ankur Dalwani, Executive Vice President and Chief Financial Officer, IHCL said, “IHCL Consolidated grew operating revenue by 6% and RevPAR outperformed the industry with 60% premium on a same store basis for domestic hotels. On the back of strong cost focus, IHCL’s operating EBITDA margins expanded by 210 and 100 basis points on Standalone and Consolidated basis respectively leading to a Consolidated PAT growth of 12%. IHCL’s healthy operating cash flows, resulted in a gross consolidated cash balance of Rs 2,091 crore as on 30th June 2024 with free cash flows generated in the quarter at 3x of Q1FY24.” He added, “In line with our strategy of simplification, IHCL has secured approval to execute an amendment to its Shareholder Agreement with our partner, SATS Singapore, enabling a consolidation of Taj SATS results on a line-by-line basis as a subsidiary as opposed to equity accounting consolidation.”

Q4FY24 Quarterly & FY24 Annual Result Announced for Indian Hotels Company Ltd.

Indian Hotels Company announced Q4FY24 & FY24 results: Financial Highlights: Revenue: IHCL reported an 18% YoY growth in Q4 revenue at Rs 1,951 crore, with an impressive 17% increase in full year revenue, amounting to Rs 6,952 crore. EBITDA: The EBITDA for the company surged by 20% for the full year, reaching a total of Rs 2,340 crore. Profit After Tax (PAT): PAT for Q4 grew by 27% at Rs 418 crore, while the full year saw a 26% rise, totaling Rs 1,259 crore. EBITDA Margin: The EBITDA margin for Q4 improved by 2.0 percentage points; a full year consolidated EBITDA margin stands strong at 33.7%. Full Year Consolidated Turnover: Attained an all-time high of Rs 6,952 crore, a 17% growth rate YoY. Standalone Revenue Growth: A 20% surge resulted, with IHCL’s standalone revenue at Rs 4,590 crore. Standalone PAT: Record Profit After Tax at Rs 1,095 crore was noted for the standalone entity. Portfolio Expansion: Hotel Portfolio: At the end of the fiscal year, IHCL achieved a sizable portfolio of 310 hotels. Brand Signings and Openings: IHCL has signed 53 new hotels and opened 34 in the fiscal year 2023-24. Commenting on the full year performance, Puneet Chhatwal, Managing Director & CEO, IHCL, said, “IHCL achieves its key goals under Ahvaan 2025 well ahead of time with a full year consolidated EBITDA margin of 33.7%, a portfolio of 300+ hotels and a cash position of Rs 2,206 crore. Q4FY24 marked eight consecutive quarters of record financial performance driven by double-digit revenue growth in same store hotels, incremental revenue from not like for like hotels and scaling of new businesses. With 53 signings in FY2024 IHCL achieved a portfolio of 310 hotels, enabled by attaining scale in each of our brands and forming strategic alliances in new market segments. He added, “Looking ahead at FY2025, IHCL will continue to deliver double digit revenue growth with new businesses at 30%, and opening of 25 hotels. IHCL will also introduce the re-imagined Gateway, a full-service hotel offering in the upscale segment, an ideal fit to capture growth opportunities in emerging micro markets in metros and Tier II and Tier III cities. The brand roll-out starting with 15 hotels will commence with launches in Bekal and Nashik this quarter followed by destinations like Bengaluru, Thane and Jaipur. The brand will scale to a 100 hotels portfolio by 2030. “Investing in our competitive advantage of optimising the balance between operating leverage and fee-based business, IHCL has commenced a five-year capital deployment plan from FY2023 to FY2027 totalling Rs 3,500 crore towards key asset upgradation, building capabilities and select new projects. This includes strengthening of our digital capabilities with new brand website launches starting May 2024, implementation of a new ERP system and Data Lake for advanced analytics with AI/ML capabilities.” Giridhar Sanjeevi, Executive Vice President and Chief Financial Officer, IHCL said, “The resilience of our business model over eight consecutive quarters is reflective of robust fundamentals of a diversified topline, a balanced portfolio, prudent capital allocation and a sharp focus on driving operating flow thorough. This sustained performance has led to an all-time high IHCL Consolidated turnover of Rs 6,952 crore, a 17% growth YoY and a 100-basis point expansion in EBITDA margin at 33.7%.” He added, “The buoyancy of domestic demand drove a 20% growth in IHCL’s standalone revenue at Rs 4,590 crore, EBITDA margin of 41.3% an expansion of 200 basis points leading to a record PAT of Rs 1,095 crore.