IHCL ANNOUNCES FINANCIAL RESULTS FOR Q3 FY 2024-25
29% REVENUE GROWTH AT INR 2,592 CRORES, 32% EBITDA GROWTH AT INR 1,020 CRORES
~ EBITDA MARGIN OF 39.4%, AN EXPANSION OF 80 BPS
~ PAT AT INR 582 CRORES, GROWTH OF 29% YoY
~SETS NEW GROWTH BENCHMARK IN 2024
MUMBAI, JANUARY 17, 2025: The Indian Hotels Company Limited (IHCL), India’s largest hospitality company, reported its consolidated financials for the third quarter and nine months ending December 31st, 2024.
CONSOLIDATED FINANCIAL RESULTS FOR Q3 AND NINE MONTHS ENDED 31ST DECEMBER 2024

*Includes one-time exceptional gain of INR 307 Cr in Q2 on account of TajSATS consolidation.
Mr. Puneet Chhatwal, Managing Director & CEO, IHCL, said, “Q3 marks eleven consecutive quarters of record performance with the hotel segment reporting a strong revenue growth of 16% resulting in EBITDA margin of 40.9%. The revenue performance was driven by 40% increase in New Businesses, not like for like growth and double-digit growth in same store hotels led by 20% growth in the US portfolio. With the consolidation of air and institutional catering business, Revenue and PAT grew by 29% at INR 2,592 crores and INR 582 crores respectively. In Q4 and the subsequent quarters of the next financial year, the sector will continue to witness demand buoyancy on account of large-scale regional events, weddings and sustained transient travel.”
He added, “In line with Accelerate 2030, IHCL sets a new growth benchmark with 55 signings and 20 openings till date this fiscal and 85% of these signings are capital light. With a portfolio of 360 hotels and an industry leading pipeline of 123 hotels, IHCL at this pace of growth is well poised to reach 700 hotels by 2030.”

KEY OPENINGS IN Q3
Q3 HIGHLIGHTS
DELIVERS RECORD FINANCIAL PERFORMANCE |
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NEW & REIMAGINED BUSINESSSES |
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EXPANSION MOMENTUM CONTINUES |
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ESG+ FRAMEWORK OF PAATHYA |
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Mr. Ankur Dalwani, Executive Vice President and Chief Financial Officer, IHCL said, “With continued demand buoyancy in the domestic market IHCL Standalone reported a revenue of INR 1,517 crores, an increase of 15% over the previous year, EBITDA margin 47.8%, an expansion 240 basis points and a 23% growth in PAT at INR 469 crores. Led by a broad-based business performance, IHCL Consolidated reported EBITDA margin of 39.4% an expansion of 80 bps resulting in a strong gross cash position as on 31st December of INR 2,823 crores.”
He added, “The company in January has acquired 55% shareholding in Rajscape Hotels, the brand holding company of Tree of Life and will form a part of IHCL Consolidated from Q4.”
About The Indian Hotels Company Limited
The Indian Hotels Company Limited (IHCL) and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service. These include Taj – the iconic brand for the most discerning travellers and ranked as World's Strongest Hotel Brand 2024 and India’s Strongest Brand 2024 as per Brand Finance; SeleQtions, a named collection of hotels; Tree of Life, private escapes in tranquil settings; Vivanta, sophisticated upscale hotels; Gateway, full-service hotels designed to be your gateway to exceptional destinations and Ginger, which is revolutionising the lean luxe segment.
Incorporated by the founder of the Tata Group, Jamsetji Tata, the Company opened its first hotel - The Taj Mahal Palace, in Bombay in 1903. IHCL has a portfolio of 360 hotels including 123 under development globally across 4 continents, 13 countries and in over 150+ locations. The Indian Hotels Company Limited (IHCL) is India’s largest hospitality company by market capitalization. It is listed on the BSE and NSE.
Please visit: IHCL; Taj; SeleQtions; Tree of Life; Vivanta; Gateway; Ginger
For more information, please contact: kirti.dhingra@ihcltata.com
ANNEXURE I
IHCL AWARDS & ACCOLADES FY25
BRAND FINANCE’S 'HOTELS 50 2024' ANNUAL REPORT - TAJ RANKED WORLD'S STRONGEST HOTEL BRAND FOR THE THIRD TIME BRAND FINANCE’S COVETED 'INDIA 100 2024' REPORT - TAJ RECOGNISED AS INDIA’S STRONGEST BRAND ACROSS SECTORS FOR THE FOURTH TIME CNBC TV18 - ICICI LOMBARD INDIA RISK MANAGEMENT AWARDS 2024 - MASTER OF RISK IN BRAND & SOCIAL MEDIA RISK MANAGEMENT MR. PUNEET CHHATWAL, MANAGING DIRECTOR & CEO, IHCL AWARDED HALL OF FAME AT THE 39TH IATO ANNUAL CONVENTION GOLDEN PEACOCK AWARD FOR EXCELLENCE IN GOVERNANCE IN 2024 TAJ INNERCIRCLE AWARDED BEST HOTEL LOYALTY PREOGRAM AT TRAVEL + LEISURE INDIA’S BEST AWARDS 2024 |
TRAVEL + LEISURE READERS’ - WORLD’S BEST AWARDS 2024 |
25 BEST HOTEL BRANDS - TAJ 100 BEST HOTELS IN THE WORLD BEST ASIA HOTELS BEST ASIA RESORTS - TAJ EXOTICA RESORT & SPA, GOA 10 BEST INDIA CITY HOTELS BEST INDIA RESORTS |
TRAVEL + LEISURE READERS' 20 FAVOURITE CITY HOTELS IN ASIA OF 2024 |
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ROBB REPORT 50 GREATEST LUXURY HOTELS 2024 |
TAJ LAKE PALACE UDAIPUR |
SOUTH ASIAN TRAVEL AWARDS |
LEADING LUXURY HOTEL & LEADING F&B HOTEL - TAJ PALACE, NEW DELHI LEADING RESTAURANT IN A HOTEL - LOYA AT TAJ PALACE, NEW DELHI LEADING WEDDING HOTEL - RAMBAGH PALACE LEADING PALACE HOTEL & LEADING HERITAGE HOTEL - TAJ LAKE PALACE LEADING FAMILY RESORT - DEVI RATN LEADING BUSINESS HOTEL - TAJ LANDS END LEADING AIRPORT HOTEL - VIVANTA COLOMBO |
CNT UK READERS' CHOICE AWARDS 2024: THE TOP HOTELS IN INDIA | |
CNT US READERS' CHOICE AWARDS 2024: TOP 20 HOTELS IN INDIA | |
CNT US READERS' CHOICE AWARDS 2024: TOP 15 RESORTS IN ASIA | TAJ SAWAI RANTHAMBORE |
CNT READERS' CHOICE AWARDS 2024: BEST RESORT IN THE MIDDLE EAST | TAJ PALM, DUBAI |
BW HOTELIER INDIAN HOSPITALITY AWARDS
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TATLER BEST 100 LIST - ASIA |
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GALLIVANTER’S GUIDE: HOTEL OF THE YEAR 2024 | UMAID BHAWAN PALACE, JODHPUR |