ITC Hotels Ltd

AGM highlights

• Total income for the year increased 19% to over ₹4,331 crore.
• PAT rose 29% year over year.
• 63 hotels signed and 29 opened in the last 24 months.
• Operates world's largest LEED Platinum portfolio with 25 properties.
• LEED Zero Water certification achieved for 13 hotels.
• LEED Zero Carbon certification achieved for 12 properties.
• Pipeline of 78 hotels with over 8,000 keys; target 250 hotels and 22,000 keys in five years.
• Investing in new properties in Puri, Visakhapatnam and Delhi; Bhubaneswar expansion adds ~670 rooms.
• Digital strategy underpins growth with cloud-first architecture, AI and data capabilities.

Financial highlights

• Q1 FY27 consolidated revenue ₹936 crore, up 15% YoY.
• EBITDA ₹292 crore, up 19% YoY.
• PAT ₹182 crore, up 36% YoY.
• Standalone revenue ₹808 crore, up 9%; PAT ₹177 crore, up 18%.

Acquisitions & portfolio expansion

• Kumarakom Resort & Spa acquisition completed; renovation underway; relaunch as ITC Hotels luxury resort by Q3 FY27.
• 8 new signings in Q1; managed portfolio reaches 74 hotels with 7,200+ keys.
• Portfolio aims 22,000+ keys by 2031; dual engines of growth.

Sustainability & operations highlights

• 5 MWp solar plant commissioned; total renewable capacity 52.4 MW.
• LEED certifications: ITC Royal Bengal LEED Zero Water; Welcomhotel Vadodara LEED Platinum.

Governance

• Board approved the Q1 FY27 financial results on 16 July 2026.

Acquisition details

• Definitive agreement signed to acquire 100% stake in GHK Hospitality & Infrastructures Ltd (Welcomhotel Ahmedabad).
• Enterprise value Rs 155 crore on a debt-free and cash-free basis, subject to customary adjustments.
• Completion expected in the current quarter, subject to closing conditions.
• 130-room Welcomhotel Ahmedabad with 8,500 sq ft banqueting space.
• EPS accretive in the first full year of post-acquisition operations.
• Transition from managed contract to ownership to unlock value and improve yields.

Target overview

• GHK Hospitality & Infrastructures Limited, Ahmedabad-based hospitality company.
• Owns Welcomhotel Ahmedabad with 130 keys.
• Incorporated 10 May 2007; operates in India.

Deal terms

• Acquisition of 100% equity share capital of GHK.
• Enterprise value ₹155 crore on cash-free, debt-free basis.
• Cash consideration; via primary subscription and secondary purchase.
• Completion expected in Q2 FY27.
• 100% equity shares acquired; full ownership.

Regulatory and related party

• None regulatory approvals required.
• Not a related party transaction; no promoter/group interest.

Strategic rationale

• Expand ITC’s owned asset portfolio in Ahmedabad across segments.
• Leverages established hotel currently operated under an Operating Services Agreement.
• Targets year-round demand in Ahmedabad.

Target financials

• Last three-year turnover: 2025-26 ₹35.16 cr; 2024-25 ₹31.23 cr; 2023-24 ₹25.62 cr.

Target background

• Welcomhotel Ahmedabad is a 130-key property; target is India-based.

Financial results approved

• Standalone and Consolidated unaudited results for quarter ended 30 June 2026 approved.
• Unaudited segment-wise revenue, results, assets and liabilities (consolidated) for quarter ended 30 June 2026 approved.
• Limited Review Reports on standalone and consolidated results noted by the Board.

Corporate actions and segment changes

• Kerala Luxury Resorts Private Limited acquired; becomes wholly owned subsidiary with effect from 19 May 2026.
• Segment renamed Real Estate to Branded Residences; nomenclature change only.

Notes and regulatory disclosures

• Quarter results include KLRPL from 19 May 2026; comparatives not strictly comparable.
• Independent auditor's reviews for standalone and consolidated results issued with unmodified conclusions.

Dematerialisation status

• No dematerialisation requests were received during the quarter.

AGM Details

• Date, time and mode: 6 August 2026, 10:30 IST, VC/OAVM
• Record date for final dividend: 21 May 2026
• Dividend payment window: 10–14 August 2026
• AGM notices include remote e-voting and on-spot e-voting

Key Resolutions

• Resolution 1: Adoption of standalone and consolidated financial statements
• Resolution 2: Final dividend of ₹1 per share
• Resolution 3: Re-election of Rajendra Singhi as Director
• Resolution 4: Remuneration to Statutory Auditors of ₹1.20 crore for 2026-27
• Resolution 5: Appointment of Ramakrishnan Chander as Director (LIC) for 3 years

Director Changes

• Tablesh Pandey (LIC) resigned from the Board on 5 Mar 2026
• Ramakrishnan Chander to be appointed Non-Executive Director for 3 years
• Rajendra Singhi to retire by rotation; re-election recommended

Dividend Details

• Final dividend of ₹1 per equity share proposed (subject to approval)
• Total dividend payable: ₹208.30 crores

Auditor Remuneration & Related

• Auditor remuneration to be approved: ₹1.20 crore for 2026-27

Meeting Details

• Board meeting on 16 July 2026 to consider unaudited standalone and consolidated results period ended 30 June 2026.

Key Agenda Items

• Consider unaudited standalone and consolidated financial results for quarter ended 30 June 2026.

Other Notes

• No additional material governance actions disclosed in this filing.