Indian Hotels Company Ltd (IHCL) shares rose to a 52‑week and intraday peak of ₹794.65 on the National Stock Exchange on Thursday, October 22, 2026, up 5.53% from the previous day’s closing price of ₹753. The rally followed the company’s announcement of robust earnings for the July‑September quarter of the 2026‑27 financial year (Q2 FY27). IHCL reported a 22.7% year‑on‑year increase in consolidated net profit to ₹349.49 crore, compared with ₹284.92 crore in the same period last year, signalling strong profitability growth and investor confidence in the hospitality sector’s recovery.

During Q2 FY27, IHCL’s consolidated revenue from operations climbed 21.73% year‑on‑year to ₹2,484.32 crore, up from ₹2,040.89 crore in Q2 FY26. Operating profit, measured as EBITDA, stood at ₹788 crore, a 21% year‑on‑year rise from ₹653 crore. The EBITDA margin contracted by 10 basis points to 30.7% for the quarter, slightly down from 30.8% in the September quarter of FY26, reflecting modest margin pressure amid higher operating costs and a focus on expanding revenue streams.

The company upgraded its consolidated revenue guidance for FY27 by 300 basis points to a 15‑17% range, up from the earlier 12‑14% forecast. This revision was driven by a 17‑19% increase in hotel segment revenue, bolstered by seasonally strong upcoming quarters, high demand from social and MICE events, and robust non‑like‑for‑like growth, according to Puneet Chhatwal, Managing Director & CEO of IHCL. The guidance upgrade underscores the company’s confidence in sustained demand and operational efficiency across its portfolio.

Key revenue drivers included a 22% year‑on‑year rise in room revenue to ₹1,115 crore, a 20% increase in food and beverages to ₹686 crore, and a 25% growth in management fee revenue to ₹156 crore. RevPAR surged across brands: Taj’s RevPAR rose 28% to ₹14,500, domestic hotel brands to ₹8,220 (25% growth), upper‑upscale brands to ₹7,600 (21% growth), and select services to ₹2,850 (14% growth). These figures illustrate the company’s ability to capture higher yields across its diverse brand spectrum.

IHCL signed 47 hotels in the first half of FY27, expanding its portfolio to 670 hotels with a pipeline of 280 hotels and over 32,000 rooms. The company aims to achieve its Accelerate 2030 target of a 700‑hotel portfolio ahead of schedule, reinforcing confidence in its expansion strategy and the long‑term viability of its asset‑light model.

Analysts at Nomura, Jefferies, and Goldman Sachs praised the Q2 performance, noting that IHCL’s revenue and EBITDA growth surpassed consensus. Nomura expects mid‑ to high‑teens consolidated EBITDA growth in H2 FY27 and FY28, while Jefferies highlighted strong RevPAR, MICE, and asset‑light growth. Goldman Sachs highlighted the revenue guidance upgrade as improving H2 visibility and easing investor concerns, and anticipates detailed long‑term guidance for hotel additions in November. These analyst comments reinforce the market’s positive outlook for IHCL’s continued growth trajectory.