The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs 501.27 crore, compared to Rs 354.78 crore in the same period last year, reflecting a growth of 41.3%.
IHCL will also take over the management of landmark hotel The Claridges, New Delhi in April 2025 under a hotel operating agreement, MD and CEO Puneet Chhatwal said in a statement.
On a half-year basis, the company reported revenues of Rs 3,376 crore, reflecting a 16.4% year-on-year (YoY) increase. It also posted a profit of Rs 843 crore for the half-year period, marking a 103% YoY growth.
“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,” said Chhatwal.
“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,” he added.Following the Q2 results, brokerage firm Investec maintained its ‘Hold’ rating on Indian Hotels and raised the target price to Rs 742, up from Rs 630.Investec noted that the comprehensive performance has been supported by healthy Average Room Rate (ARR) growth. The company is broadening its horizons and leveraging structural tailwinds for further growth. Margins are expected to remain sustained at 32%/32.5% in FY26/27, with Profit After Tax (PAT) projected to grow at a Compound Annual Growth Rate (CAGR) of 24% over FY24-27.
At 10:15 am, the stock was trading 4.75% higher at Rs 716.1 on the BSE. Shares have surged 64% year-to-date in 2024 and 108% over the past two years, with the company currently holding a market capitalization of Rs 1,01,996 crore.
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