IHCL Q2 Results: Net profit up 226% to Rs 583 crore, revenue up 27%
IHCL will also take over the management of landmark hotel The Claridges, New Delhi in April 2025 under a hotel operating agreement, MD and CEO Puneet Chhatwal said in a statement.
On a half year basis, the chain posted revenues of Rs 3376 crore, up 16.4% year on year. The chain posted a profit of Rs 843 crore for the half year, up 103% year on year.
“IHCL has achieved a record signing of 42 hotels resulting in an industry leading portfolio of 350 hotels and met its market guidance of opening two hotels a month with 14 new hotel openings till date," said Chhatwal.
«In addition, IHCL has entered into definitive agreements to acquire majority shareholding in Tree of Life brand holding company, expanding its brandscape with a boutique leisure offering,» he added.
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