Minerva Capital Research Solutions

ITC Hotels

NSE: ITCHOTELSBSE: 544325
Compare with peers
₹ 164.40▼ 1.9 (−1.14%)28 Oct, 03:29 pm IST
Market cap
₹ 32,505 Cr.
P/E
35.3x
P/B
2.89x
52-week range
137.3 – 223.2
ROE
8%
ROCE
11%
Dividend yield
0.6%
Debt / equity
0.01
Sector
Leisure Services
Industry
Hotels & Resorts
Listed on
NSE, BSE

About

ITC Hotels Limited is an India-based hospitality company that operates and manages hotels. The Hotels segment is engaged in providing hotel services. The Real Estate segment includes branded residences. The Others segment includes golfing and ancillary services. The Company operates under six brands: ITC Hotels and Mementos in the luxury segment, Storii in the boutique premium segment, Welcomhotel in the upper upscale category, Fortune in the mid-market to upscale segment, and WelcomHeritage in the heritage leisure segment. Its hotels include ITC Ratnadipa, Colombo; ITC Narmada, Ahmedabad; ITC Maurya, New Delhi; ITC Grand Bharat Retreat, Gurugram; ITC Royal Bengal, Kolkata; ITC Grand Chola, Chennai; ITC Grand Goa Resort & Spa, Goa; ITC Maratha, Mumbai; ITC Grand Central, Mumbai; ITC Gardenia, Bengaluru; ITC Windsor, Bengaluru; ITC Kohenur, Hyderabad; ITC Kakatiya, Hyderabad; ITC Sonar, Kolkata; ITC Mughal Resort & Spa, Agra; The Zuri Kumarakom, Kerala Resort & Spa, among others.

Quick check

The five things to look at first. Open one for more.

Compared with its industry

Hotels & Resorts: 74 companies →

ITC Hotels against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

  • Valuation (P/E)35.3 against a typical 25.5: pricier than most peers (1st = cheapest).49th of 74
  • Sales growth+14.7% against a typical +10.3% from a year earlier.25th of 70
  • Profit growth+35.8% against a typical +17.9% from a year earlier.15th of 50
  • Share price, 3 months+0.8% against a typical −7.9%.14th of 67
  • Size₹ 32,505.3 Cr. market value against a typical ₹ 232.8 Cr. (1st = largest).2nd of 64

Latest announcements

Exchange filings and their impact on the company.

  • 26 Oct 2026AcquisitionLow impactNeutralPrice +5.2% that day
    ITC Hotels to set up Dubai wholly-owned subsidiary; no near-term financial impact disclosed.

    ITC Hotels' board on 26 October 2026 approved incorporation of a wholly-owned subsidiary in Dubai, UAE, subject to regulatory approvals. No investment amount, capital structure or business plan was disclosed. The move signals intent to expand in the Middle East but has no quantifiable impact on revenue or profit over the next 12 months.

    Filing
  • 26 Oct 2026Outcome of Board MeetingHigh impactVery positivePrice +5.2% that day
    Strong Q2 with 26% revenue and 52% profit growth, boosted by two hotel acquisitions.

    ITC Hotels reported strong Q2 FY27 results with consolidated revenue up 25.6% to Rs 1054.1 crore and net profit up 52% to Rs 202.7 crore. H1 revenue grew 20% to Rs 1990.2 crore and profit grew 44% to Rs 384.6 crore. Growth was helped by two new wholly owned subsidiaries, Kerala Luxury Resorts from May 2026 and GHK Hospitality from September 2026, plus strength in hotels and branded residences.

    Filing

Credit ratings

Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates

Highest safety

Rated AAA by CRISIL
AAA
DefaultRiskyModerateSafeVery safe
  • No warnings from the agency.
AgencyCurrent ratingOutlookAs of
CRISILCrisil AAAStable1 Apr 2026
Credit rating actions
RatingDetails
1 Apr 2026
Reaffirmed
Crisil AAA—CRISIL₹ 1,000 Cr.

Board meetings

Results dates and other board meetings. Full calendar

Details
26 Oct 2026Financial ResultsTo consider and approve the financial results for the period ended September 30, 2026
16 Jul 2026Financial ResultsTo consider and approve the Unaudited Standalone and Consolidated Financial Results of the Company for the period ended Jun 30, 2026
15 May 2026Financial Results/DividendTo consider and approve the financial results for the period ended March 31, 2026 and recommend the final dividend
20 Jan 2026Financial ResultsTo consider and approve the Unaudited Standalone and Consolidated Financial Results for the quarter and nine months ended 31st December, 2025.
24 Oct 2025Financial ResultsTo consider and approve the Unaudited Standalone and Consolidated Financial Results for the quarter and six months ended 30th September, 2025
16 Jul 2025Financial ResultsTo consider and approve the Unaudited Standalone and Consolidated financial results for the period ended Jun 30, 2025

Share price

1M change +3.68%
1 of 1 filing day came with a big price moveBiggest +5.2% on 26 Oct 2026AI reading matched the move 1 of 1
Volume (shares)Price (₹)
Close price

Financials

Consolidated figures in ₹ crore.

Quarterly results
₹ Cr.Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales7067781,0151,0618168391,2311,254936
Expenses500566635648571594764787644
Operating Profit206212381412245246467466292
OPM %29%27%37%39%30%29%38%37%31%
Other Income14719434849−346062
Interest222222222
Depreciation95104104100102104104106104
Profit before tax123114294354189189327418248
Tax %29%33%27%27%29%29%28%24%27%
Net Profit8777216258134133237317182
EPS in Rs———1.230.640.641.131.520.87

Growth and returns

Compounded yearly rates over each period.

Compounded Sales Growth
10 Years
—
5 Years
—
3 Years
—
TTM
16%
Compounded Profit Growth
10 Years
—
5 Years
—
3 Years
—
TTM
35%
Stock Price CAGR
10 Years
—
5 Years
—
3 Years
—
TTM
—
Return on Equity
10 Years
—
5 Years
—
3 Years
7%
TTM
—

Shareholding

Latest: Jun 2026.

Promoters
39.85%
−0.02 pts in a year
FIIs
11.61%
−13.75 pts in a year
DIIs
23.98%
+3.37 pts in a year
Government
0.02%
0 pts in a year
Public
24.53%
+10.42 pts in a year

P/E and EPS over time

Daily P/E and trailing 12-month EPS. EPS updates with each result.

P/E 35.3xEPS (12 months) ₹ 4.42Median P/E 45.9x
P/E (times)EPS (₹)

Peers

Listed companies in the same business.

Peer comparison
ITC Hotels₹ 164.40₹ 32,505 Cr.35.3x2.9x8%—
EIH₹ 290.25₹ 18,151 Cr.33.6x4x12.7%22.4%
Chalet Hotels₹ 790.00₹ 17,306 Cr.29.2x5.1x19.1%23.3%
Leela Palaces Hotels & Resorts₹ 575.10₹ 19,317 Cr.38.6x2.5x—26.4%
Ventive Hospitality₹ 558.20₹ 13,049 Cr.33.7x2.6x8.3%20.4%
Lemon Tree Hotels₹ 110.00₹ 8,696 Cr.34.9x6.4x17.8%20%

Management

Ashish Thakar
Chief Financial Officer
Diwaker Dinesh
Compliance Officer, Company Secretary
Anil Chadha
Managing Director, Executive Director

Prices are delayed and for information only. Nothing on this page is investment advice.