EIH (EIHOTEL) Q3 25/26 earnings summary

Executive summary

• Q3 FY26 consolidated revenue rose 9% year-over-year to ₹910 crore, with EBITDA up 6%-7% and profit from operations down 9% due to a one-time wage code change of ₹30 crore and other exceptional items.

• Occupancy remained flat due to disruptions, but ARR increased 9%-12%, driving healthy RevPAR growth; 13 of 15 hotels ranked first or second in STR benchmarking.

• Expansion continues with a pipeline of 30 properties (2,448–2,450 keys) through 2030, and four new managed hotels signed in the quarter.

• The Oberoi Rajvilas, Jaipur was voted Best Hotel in the World at Travel + Leisure World's Best Awards 2024.

• The Oberoi Rajgarh Palace opened in November 2025, and Oberoi Grand Kolkata renovation is on track.

Financial highlights

• Q3 FY26 consolidated revenue was ₹910 crore, up from ₹831.18 crore in Q3 FY25; standalone revenue grew 12%.

• Q3 FY26 EBITDA was ₹413.4 crore (margin 45.4%), and profit from operations was ₹254.8 crore, down 9% due to a ₹30 crore exceptional loss.

• 9M FY26 consolidated revenue was ₹2,151.8 crore, with EBITDA up 4% and profit from operations down 20% due to higher exceptional items.

• OFS (flight services) revenue was ₹135 crore in Q3, up 25%-30% year-over-year.

• Adjusted like-for-like revenue growth (excluding lounge business) was 13.9%-14% in Q3.

Outlook and guidance

• Management remains optimistic about industry prospects, citing strong demand in luxury, corporate, MICE, and festive segments.

• Expansion pipeline includes 30 properties (2,448–2,450 keys) with openings planned through 2030, supported by strong cash reserves.

• Renovations and upgrades are ongoing to maintain competitiveness, especially in key markets.

• The company continues to monitor the impact of new Labour Codes and will account for further changes.