HBI Staff | Hyderabad 
The Indian Hotels Company Limited (IHCL), India’s largest hospitality company, has announced its consolidated financial results for the fourth quarter and full year ending March 31st, 2024, marking eight consecutive quarters of record performance.
In the fourth quarter of 2023-24, IHCL witnessed a significant year-over-year growth in key financial indicators. Revenue increased by 18%, while EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) surged by 25%. The EBITDA margin also saw a notable improvement of 2.0 percentage points. Profit After Tax (PAT) soared by 27%, reaching ₹418 crores.
For the full year ending March 31st, 2024, IHCL reported a robust performance with a 17% growth in revenue, a 20% increase in EBITDA, and a PAT growth of 26%. The consolidated EBITDA margin stood at an impressive 33.7%, exceeding the company’s key goals set under Ahvaan 2025.
Commenting on the remarkable full-year performance, Puneet Chhatwal, Managing Director & CEO of IHCL, attributed the success to achieving key milestones ahead of schedule. He highlighted the company’s achievement of a portfolio of 300+ hotels, a consolidated EBITDA margin of 33.7%, and a substantial cash position of INR 2,206 crores. He also emphasized that the fourth quarter of FY24 marked eight consecutive quarters of record financial performance, driven by double-digit revenue growth in existing hotels and the scaling of new businesses.
Looking ahead at FY2025, IHCL aims to sustain double-digit revenue growth with the introduction of new businesses and the opening of 25 hotels. Notably, the company plans to launch the re-imagined Gateway, a full-service hotel offering, with the goal of capturing growth opportunities in emerging micro markets across metros and Tier II and Tier III cities.
Giridhar Sanjeevi, Executive Vice President and Chief Financial Officer of IHCL, highlighted the resilience of the company’s business model, which has led to robust fundamentals and sustained performance over eight consecutive quarters. He noted the expansion in revenue, EBITDA margin, and PAT, reflecting the company’s prudent capital allocation and focus on driving operating flow through.
IHCL’s performance highlights include a 17% growth in consolidated revenue, led by a 19% increase in Room Revenue and a 12% growth in Food & Beverage. The company’s enterprise revenue for the year reached INR 13,090 crores, with a significant share coming from the domestic business. Additionally, IHCL outperformed the industry on domestic same-store Revenue Per Available Room (RevPAR) with a premium of 65% compared to the competition.
The company continues to demonstrate industry-leading growth, with 53 hotels signed and 34 hotels opened in FY2024. Recent signings include strategic alliances for resorts under the Tree of Life brand and significant expansions of the Taj, SeleQtions, and Vivanta brands.
Furthermore, IHCL’s New Business vertical, comprising Ginger, Qmin, amã Stays & Trails, The Chambers, and TajSATS, reported impressive revenue growth, reflecting the success of the company’s diversification strategy.
In alignment with its commitment to sustainability and social responsibility, IHCL has implemented the ESG+ framework of Paathya, focusing on renewable energy usage, plastic elimination, water recycling, and skill development initiatives.
With a strong financial performance, strategic expansion plans, and a commitment to sustainability, IHCL remains poised for continued growth and success in the hospitality industry.
