IHCL Q2 FY2027 results show consolidated revenue rose 21% year on year to ₹2,566 crore and profit after tax grew 23% to ₹349 crore for the quarter ended September 30, 2026. The Tata group hotel company also raised its full-year consolidated revenue growth guidance from 12–14% to 15–17%.
The Indian Hotels Company Limited (IHCL) announced the numbers on October 21, 2026. Consolidated EBITDA came in at ₹788 crore, up 21%, at a margin of 30.7%. Hotel segment revenue grew 24% in the quarter.
What Do IHCL’s Q2 FY2027 Results Show?
On a consolidated basis, operating revenue grew 22% and operating EBITDA grew 24%, with the operating margin improving by 50 basis points. Domestic same-store RevPAR (revenue per available room) rose 25%, while management fee income and Select Service revenue each grew 25%.
The standalone business performed even more strongly. Operating revenue was ₹1,336 crore, up 26%. Operating EBITDA rose 40% to ₹520 crore, with the margin expanding by 400 basis points to 38.9%. Standalone PAT was ₹393 crore, up 36%, and full-service same-store RevPAR rose 28%.
How Strong Is IHCL’s Balance Sheet and Growth Pipeline?
IHCL reported gross cash of ₹4,369 crore as of September 30, 2026. Its portfolio stands at 670 hotels, including about 280 in the pipeline, after 47 signings in the first half of the financial year.
The company has also proposed a merger of OHL with IHCL, with an appointed date of April 1, 2027.
Industry Reaction and Expert Commentary
CEO Puneet Chhatwal said the performance is “a testament to IHCL’s scalable and diversified operating model.” CFO Ankur Dalwani said that, “Maintaining a strong balance sheet, IHCL Consolidated reported a gross cash of INR 4,369 crores.” No analyst or market reaction was available in the sources reviewed at the time of writing.
What Happens Next?
IHCL now expects consolidated revenue growth of 15–17% for FY2027, with hotel segment revenue growth of 17–19%. Investors will watch how the roughly 280 pipeline hotels convert into operating properties and how the proposed OHL merger progresses towards its April 1, 2027 appointed date.
Frequently Asked Questions
What was IHCL’s profit in Q2 FY2027?
IHCL’s consolidated profit after tax was ₹349 crore, up 23% year on year. Standalone PAT was ₹393 crore, up 36%.
What is IHCL’s revised FY2027 guidance?
IHCL raised its consolidated revenue growth guidance to 15–17% from 12–14%. It expects hotel segment revenue growth of 17–19%.
How many hotels does IHCL have?
IHCL’s portfolio is 670 hotels, including about 280 in the pipeline, with 47 signings in the first half of FY2027.
Source: IHCL press release dated October 21, 2026.
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