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Quarterly Results

INDHOTEL · The Indian Hotels Company Limited · NSE · Filed 21 Oct · 1 min read

Indian Hotels posts higher Q2 FY27 revenue and profit; Brij deal and Oriental Hotels merger advance

The Taj operator's reviewed September-quarter results come alongside a completed majority stake in Brij Hospitality and a proposed amalgamation of Oriental Hotels still awaiting approvals.

What was filed

The Indian Hotels Company Limited (IHCL) reported unaudited, limited-reviewed standalone and consolidated results for the quarter and half year ended September 30, 2026, approved by the Board on October 21, 2026. B S R & Co. LLP issued an unmodified review conclusion. Hoteliering is the standalone company's only business segment; at the consolidated level the Group reports two segments — Hotel Services and Air and Institutional Catering.

The quarter in brief

On a consolidated basis, both revenue and profit were higher than a year earlier, with the Hotel Services segment carrying the bulk of the improvement in segment results. Other comprehensive income was lifted in part by changes in the fair value of equity instruments and currency translation differences. The company recorded a small negative exceptional item at the consolidated level, described in the notes as expenses relating to the proposed merger of an associate company. The figures sit in the key-numbers panel.

Two structural moves behind the numbers

The filing details two corporate actions already under way. On April 21, 2026, IHCL — with step-down subsidiaries ANK Hotels and Pride Hospitality — completed the acquisition of a 51% equity stake in Brij Hospitality Private Limited, which has become a subsidiary; the Group has recognised provisional goodwill on the deal under Ind AS 103. Separately, the Board approved on August 24, 2026 a Scheme of Arrangement to amalgamate Oriental Hotels Limited into IHCL. That scheme remains subject to NCLT sanction and the approvals of shareholders, creditors and regulators.

Consolidated revenue from operations (Q2 FY26)
₹2,040.89 → ₹2,484.32 crQ2 FY26 → Q2 FY27+22%‡
Consolidated profit for the period (Q2 FY26)
₹318.26 → ₹379.85 crQ2 FY26 → Q2 FY27+19%‡
Consolidated H1 FY26 revenue from operations
₹4,081.97 → ₹4,823.51 crH1FY2025-26 → H1FY2026-27+18%‡
Consolidated profit before tax (Q2 FY26)
₹452.71 → ₹544.75 crQ2 FY26 → Q2 FY27+20%‡
Consolidated EPS, basic & diluted (Q2 FY27, not annualised)
₹2.46
Brij Hospitality stake acquired
51% equity stake
Brij acquisition aggregate consideration
₹22,182 lakhs (incl. contingent consideration of ₹2,862 lakhs)
Provisional goodwill recognised on Brij acquisition
₹19,276 lakhs

‡ Computed by us from the filing’s own figures — not a company-stated number.

For a holder, the filing pairs a reviewed set of quarterly results with two balance-sheet-shaping items — a completed majority acquisition of Brij, with provisional goodwill still to be finalised, and a proposed amalgamation of Oriental Hotels that remains conditional on NCLT, shareholder, creditor and regulatory approvals. The outcomes and timing of those approvals are not determined in the filing.

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