ITC Hotels Sees Profit Surge 52% in Q2

ITC Hotels announced a substantial 52.03% increase in its consolidated net profit for the second quarter of fiscal year 2027, with earnings reaching ₹202.65 crore. The strong financial performance was driven by impressive revenue growth across its hotel and branded residences operations, which saw revenue from operations climb to ₹1,054.14 crore.

Further bolstering its growth strategy, ITC Hotels completed the acquisition of the 130-key Welcomhotel Ahmedabad, now operating as an owned property. The company also undertook significant renovations on over 200 keys in its owned hotels in Kolkata, Bengaluru, Chennai, and Delhi during the first half of fiscal year 2027. A new 200-plus-key luxury hotel is planned for Lucknow on a recently allotted land parcel.

During the first half of fiscal year 2027, ITC Hotels expanded its managed pipeline by signing 20 new hotels, adding over 1,600 keys. This growth extends to international markets, with the company's board approving the incorporation of a wholly-owned subsidiary in Dubai, United Arab Emirates. This Dubai entity will focus on operating hotels and restaurants, subject to regulatory approvals, and will involve an investment of up to ₹20 crore.