Consumer Services · NSE: ITCHOTELS
ITC Hotels
Q2 FY27 · From the investor presentation
- M.Cap
- ₹36,534Cr
- P/E
- 39.2×
- 1Y return
- −15.68%
- From 52W high
- −17.6%
Highlights are read by AI from the company's filing and can contain mistakes. Check the source page linked to each line.
Share price
Results Q2 FY27, as filed · consolidated · ₹ Cr
| Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ | |
|---|---|---|---|---|---|
| Revenue | 1,054 | 839 | +25.6% | 936 | +12.6% |
| EBITDA | 337 | 246 | +37.3% | 292 | +15.4% |
| EBITDA margin | 32.0% | 29.3% | +274 bps | 31.2% | +78 bps |
| PBTProfit before tax | 275 | 185 | +48.4% | 245 | +12.3% |
| Net profit | 201 | 133 | +51.4% | 180 | +11.5% |
| EPS (₹) | 0.96 | 0.64 | +50.0% | 0.87 | +10.3% |
From the company's own results filing on NSE. Net profit is the owners' share. Growth and the dotted lines are worked out from the filed figures.
Guidance
More figures from the presentation
“14,300+ Operational Keys 1 19 9 7 12 2 (Owned / Managed Mix By % Keys : 41% / 59% )”
“Total 156 | 14,326 87 | 8,940 243 | 23,266”
“Owned 27 | 5,841 3 | 748 30 | 6,589”
“During H1 FY27, the Group signed 20 hotels with over 1,600 keys, expanding its managed pipeline to 84 hotels with ~8,200 keys.”
In short
- 01Q2 FY27 consolidated revenue from operations Rs 1,054 crore, up 26%; EBITDA Rs 337 crore, up 37%.
- 02Standalone revenue Rs 885 crore, up 16%; standalone operating ROCE 20%, up 310 bps.
- 03Company targets an operating footprint of 22,000+ keys by 2031, with ~15,000 managed keys.
- 0420 hotels signed in H1 FY27; managed pipeline at 84 hotels with ~8,200 keys.
- 05Five owned projects under way with 700+ keys; ITC Kumarakom to launch by December 2026.
- 06Welcomhotel Ahmedabad acquired; 2.8-acre Lucknow land to host a 200+ key luxury hotel.
- 07ITC Ratnadipa Colombo RevPAR at 1.8x FY25; retail and office rentals to start from Q4 FY27.
- 08Second half expected to benefit from weddings, MICE and events; air traffic fell 6% in Aug-Sept.
Capex
Owned portfolio: New builds: Puri 118 keys, Visakhapatnam 200+ keys, New Delhi 250+ keys
Slides · p. 28
Owned portfolio: New builds: Puri 118 keys, Visakhapatnam 200+ keys, New Delhi 250+ keys
“Puri Visakhapatnam New Delhi Odisha Andhra Pradesh Delhi NCR NEW 118 Keys 200+ Keys 250+ Keys”
Owned portfolio: Capacity additions: Bhubaneswar 100+ keys, ITC Grand Bharat 44 keys
Slides · p. 28
Owned portfolio: Capacity additions: Bhubaneswar 100+ keys, ITC Grand Bharat 44 keys
“Bhubaneswar ITC Grand Bharat Odisha Gurugram, Delhi NCR 100+ Keys 44 Keys”
Segments
Food & Beverage: F&B revenue grew 12% YoY, led by speciality restaurants, bars and banqueting
Slides · p. 3
Food & Beverage: F&B revenue grew 12% YoY, led by speciality restaurants, bars and banqueting
“Food & Beverage (F&B) revenue grew 12% YoY, led by Speciality restaurants, lounges & bars and banqueting.”
Managed portfolio: Management and operating fees grew 25% YoY
Slides · p. 3
Managed portfolio: Management and operating fees grew 25% YoY
“Management and Operating Fees grew 25% YoY, reflecting the continued scale-up and stabilisation of the managed portfolio.”
ITC Ratnadipa, Sri Lanka: ITC Ratnadipa Q2 RevPAR at 1.8x FY25 levels; EBITDA positive in quarter and half
Slides · p. 3
ITC Ratnadipa, Sri Lanka: ITC Ratnadipa Q2 RevPAR at 1.8x FY25 levels; EBITDA positive in quarter and half
“ITC Ratnadipa continued to register strong revenue growth, with Q2 RevPAR at 1.8x over FY25 levels while sustaining its leadership position in RevPAR. The hotel delivered positive EBITDA during the quarter, and for the half year.”
ITC Ratnadipa, Sri Lanka: ITC Ratnadipa retail and office space rentals to start from Q4 FY27
Slides · p. 17
ITC Ratnadipa, Sri Lanka: ITC Ratnadipa retail and office space rentals to start from Q4 FY27
“Retail & Office space rentals to commence from Q4 FY27”
Sapphire Residences, Colombo: Sapphire Residences Q2 revenue Rs 71 crore, EBITDA Rs 23 crore; realisation over Rs 31,600/sqft
Slides · p. 18
Sapphire Residences, Colombo: Sapphire Residences Q2 revenue Rs 71 crore, EBITDA Rs 23 crore; realisation over Rs 31,600/sqft
“Revenue ₹ 71 Cr. Average Realizations EBITDA ₹ 23 Cr. > ₹ 31,600 per sqft.”
Demand
Rooms: Room revenue grew 22% YoY on both rates and volumes
Slides · p. 3
Rooms: Room revenue grew 22% YoY on both rates and volumes
“Room Revenue grew 22% YoY, driven by growth in both rates and volumes.”
Owned hotels (same store): Occupancy up 481 bps to 76%, ADR up 14%, RevPAR up 21%
Slides · p. 3
Owned hotels (same store): Occupancy up 481 bps to 76%, ADR up 14%, RevPAR up 21%
“Occupancy rose 481 bps to 76% and ADRs grew 14%, resulting in overall RevPAR growth of 21% YoY.”
RevPAR premium of 44% over the industry
Slides · p. 3
RevPAR premium of 44% over the industry
“The Company maintained a RevPAR premium of 44% over the industry”
Near-term hospitality outlook described as encouraging; second half to gain from weddings and MICE
Slides · p. 3
Near-term hospitality outlook described as encouraging; second half to gain from weddings and MICE
“near-term outlook for the hospitality industry remains encouraging driven by sustained demand from business and leisure travel and limited incremental supply in key markets. The second half is also expected to benefit from weddings, high-impact MICE and social/sporting events,”
Sri Lanka: Sri Lanka tourism demand expected to recover gradually over the medium term
Slides · p. 4
Sri Lanka: Sri Lanka tourism demand expected to recover gradually over the medium term
“Improving macroeconomic stability and the country’s strong tourism fundamentals are expected to support a gradual recovery in travel and hospitality demand over the medium term.”
Margins and costs
Consolidated (ex-Branded Residences): EBITDA margin ex-branded residences up 263 bps to 32%; EBITDA up 28% to Rs 314 crore
Slides · p. 3
Consolidated (ex-Branded Residences): EBITDA margin ex-branded residences up 263 bps to 32%; EBITDA up 28% to Rs 314 crore
“EBITDA margin (ex-Branded Residences) expanded by 263 bps to 32%, with EBITDA growing by 28% to ₹ 314 cr. Margin expansion reflects strong operating leverage and sustained cost efficiencies.”
Debt and working capital
Growth to be funded by balance sheet and internal accruals
Slides · p. 27
Growth to be funded by balance sheet and internal accruals
“Strong Balance Sheet & Robust Internal Accruals driving Accelerated Growth”
Acquisitions and new business
130-key Welcomhotel Ahmedabad acquired, run as owned hotel from 1 September 2026
Slides · p. 4
130-key Welcomhotel Ahmedabad acquired, run as owned hotel from 1 September 2026
“the Company completed the acquisition of the 130- key Welcomhotel Ahmedabad, which is now operated as an owned hotel w.e.f. 1st September 2026.”
ITC Kumarakom to be launched by December 2026
Slides · p. 29
ITC Kumarakom to be launched by December 2026
“ITC Kumarakom to be launched by December 2026”
Land bank adds ~1 acre at Yashobhoomi Complex, Delhi, on 91-year lease
Slides · p. 29
Land bank adds ~1 acre at Yashobhoomi Complex, Delhi, on 91-year lease
“Yashobhoomi Complex, Delhi ~1 Acre, 91 Year Lease”
Managed portfolio: 68 managed hotels signed in last 24 months, 60%+ in premium segment
Slides · p. 30
Managed portfolio: 68 managed hotels signed in last 24 months, 60%+ in premium segment
“68 Managed Hotels Signed in last 24 months (60%+ in Premium Segment)”
Owned portfolio: Company says it is positioned to make further value-accretive acquisitions
Slides · p. 29
Owned portfolio: Company says it is positioned to make further value-accretive acquisitions
“Well-Positioned to Execute Value-Accretive Acquisitions”
Risks
Domestic air passenger traffic fell 6% in Aug-Sept 2026 on fuel costs and capacity cuts
Slides · p. 2
Domestic air passenger traffic fell 6% in Aug-Sept 2026 on fuel costs and capacity cuts
“Domestic air passengers traffic declined by 6% in Aug-Sept’26 due to rising fuel costs and reduction in capacity by Airlines.”
Inflation, geopolitical tensions and climate events named as key monitorables
Slides · p. 2
Inflation, geopolitical tensions and climate events named as key monitorables
“Inflationary pressures, geopolitical tensions and disruptive climate events, however, remain the key monitorables particularly relevant for the hospitality sector.”
Global travel demand moderated; international tourist arrival growth slowed
Slides · p. 2
Global travel demand moderated; international tourist arrival growth slowed
“Global travel demand witnessed moderation during the period, with growth in international tourist arrivals slowing amid geopolitical uncertainties and a softer global economic environment.”
Sri Lanka: Sri Lanka tourist arrivals marginally below 2025 levels; Colombo luxury RevPAR rose
Slides · p. 4
Sri Lanka: Sri Lanka tourist arrivals marginally below 2025 levels; Colombo luxury RevPAR rose
“While tourist arrivals remained marginally below 2025 levels, Colombo witnessed an uptick in luxury segment RevPAR during the quarter.”
Other
Q2 consolidated revenue Rs 1,054 crore, up 26%; EBITDA Rs 337 crore, up 37%
Slides · p. 2
Q2 consolidated revenue Rs 1,054 crore, up 26%; EBITDA Rs 337 crore, up 37%
“Consolidated Revenue from Operations at ₹ 1,054 cr. up 26%, EBITDA at ₹ 337 cr. up 37%, and”
Q2 standalone revenue Rs 885 crore, up 16%; EBITDA Rs 301 crore, up 28%
Slides · p. 2
Q2 standalone revenue Rs 885 crore, up 16%; EBITDA Rs 301 crore, up 28%
“Standalone Revenue from Operation at ₹ 885 cr. up 16%, EBITDA at ₹ 301 cr. up 28%, and PAT”
Standalone operating ROCE at 20%, up 310 bps
Slides · p. 2
Standalone operating ROCE at 20%, up 310 bps
“Standalone Operating ROCE at 20%, increased by 310 bps”
Consolidated (ex-Branded Residences): Consolidated revenue ex-branded residences up 17% to Rs 983 crore
Slides · p. 3
Consolidated (ex-Branded Residences): Consolidated revenue ex-branded residences up 17% to Rs 983 crore
“Consolidated Revenue from Operations (ex-Branded Residences) grew 17% YoY to ₹ 983 cr.”
H1 FY27 consolidated PAT Rs 385 crore, up 44%
Slides · p. 34
H1 FY27 consolidated PAT Rs 385 crore, up 44%
“Profit After tax 133 203 52% 267 385 44%”
Sources
- Investor presentation, Q2 FY27 Filed 26 Oct 2026 · 38 pages
Management's own statements, quoted from its NSE filings. This page was read by AI and can contain mistakes: check the source pages before relying on any figure. No forecast or opinion of ours. Not investment advice.