Taj Gvk Hotels & Resorts Ltd

Name change

• Intimation of change of name under SEBI LODR; new name Krishna GVK Luxury Hotels Limited.

AGM Details

• 31st AGM held Sept 9, 2026 at 11:00 AM IST via VC/OAVM.
• 72 members attended via VC/OAVM.

Key Resolutions

• Dividend declaration on equity shares for the FY ended March 31, 2026.
• Appointment of Anoop Vrajlal Mehta as Director liable to retire by rotation.

Voting Outcomes

• Dividend resolution passed by majority; some dissent observed.
• Director appointment passed by majority; minor opposition observed.

Director Changes

• Anoop Vrajlal Mehta appointed as Director, liable to retire by rotation.

Governance & Scrutinizer

• Consolidated Scrutinizer's Report confirms all resolutions passed by requisite majority.

Promoter group reclassification

• Board approved 31.07.2026 reclassifying IHCL from promoter group to public.
• Intimation under Regulation 30 filed; seeking exchange approvals on 05.08.2026.
• Intimation under SEBI LODR Regulation 30 details the governance change.

Promoter reclassification and steps

• IHCL requests reclassification from promoter to public; board approved on 31.07.2026.
• IHCL sold 1,60,00,400 equity shares (25.52%) on 30.12.2025.
• IHCL currently holds no equity in Taj GVK Hotels & Resorts.
• Regulatory steps will be taken under Regulation 31A of the Listing Regulations.

AGM newspaper advertisement

• Announces 31st AGM via newspaper advertisement referencing BSE 532390 and NSE TAJGVK.
• CFO and Company Secretary J Srinivasa Murthy signs the notice.

Regulatory intimation

• Intimation under Regulation 30 of SEBI LODR Regulations, 2015.
• BSE code 532390; NSE symbol TAJGVK.
• Issuer: Taj GVK Hotels & Resorts Limited.
• Signed by CFO & Company Secretary J Srinivasa Murthy.

Dividend record date and payout

• Record date fixed as 1 September 2026 for dividend entitlement.
• Security: equity shares.
• Dividend of Rs 2 per equity share (100% of face value) proposed.
• Dividend subject to approval of members at the AGM.
• Dividend paid within 5 days from the AGM date.

Financial performance

• Standalone revenue ₹502.53 cr; EBITDA ₹175.31 cr; PAT ₹116.97 cr.
• RevPAR up 26% YoY across the portfolio.
• Consolidated PAT ₹410.27 cr, vs ₹117.19 cr prior year.
• Dividend declared 100%: ₹2 per equity share, subject to AGM.
• Standalone EPS ₹18.51; book value per share ₹116.55.
• Borrowings ₹70.44 cr; debt/equity 0.09:1; shareholders’ funds ₹730.79 cr.
• Consolidated revenue from operations ₹50,844.63 lakhs; Consolidated EPS ₹65.31.

Subsidiaries & acquisitions

• Green Woods Palaces and Resorts Private Limited became a subsidiary on 10 Feb 2026.
• Green Woods topline ₹236.51 cr; PAT ₹49.04 cr; dividend ₹6 per equity share.
• Green Woods consolidated line-by-line from 10 Feb 2026; previously equity-method JV.
• Gain on business combination recognized: ₹28,264.42 lakhs in Consolidated P&L.
• Non-controlling interest in consolidation: ₹39,511.65 as of 31 Mar 2026.

Governance & corporate actions

• IHCL sold 25.52% stake to GVK group; promoter share now 74.99%.
• IHCL nominees resigned from Board on 30 Dec 2025.
• Dia Mehta Bhupal appointed Additional Director as Non-Executive & Non-Independent from 31-07-2026.
• Name change proposed to Krishna GVK Luxury Hotels Limited; name-availability approved 05-08-2026.
• Board size 12; resolutions for re-appointments and name-change to be approved.

Capex & renovations

• Renovation of 24 Taj Deccan guest rooms; major upgrades at Taj Krishna gym and spa.
• Bengaluru project: 7.5 acres, 255 rooms; estimated cost ₹450 cr; occupancy and Fire/CFO clearances.
• Renovation spend of ₹8.01 cr in the year on properties.
• Acquired 15,05,100 Green Woods shares for ₹16.09 cr; increases stake to 51%.

ESG and sustainability

• Aligned with IHCL's PAATHYA; 2030 targets: 50% energy from renewables; 100% wastewater recycling.
• Eliminate single-use plastics beyond 10 mandated items; 100% hotels EarthCheck certified.
• FY2025-26: 25% energy from renewables; 99% waste recycled; 4/5 hotels ZLD.
• Supplier Code of Conduct; 90% of Tier-1 suppliers conform.

Audit, controls & governance

• Statutory auditors M. Bhaskara Rao & Co; unmodified opinions.
• Secretarial audits by Vidya Rani & Associates; annexures attached.
• Internal controls deemed adequate; SAP S/4HANA rollout completed with audit trail.
• Independent Directors form Board; performance evaluations conducted annually.

Outlook & risks

• Global macro uncertainties, especially West Asia; potential travel disruptions.
• Indian hospitality market: ICRA projects 7-9% revenue growth FY2026-27.
• Ongoing capex to support Bengaluru project and portfolio upgrades.
• Energy management and ESG initiatives to drive cost efficiencies and brand strength.