ITCHOTELS
ITC Hotels share price & financials
- Price
- ₹170.92
- Market cap
- ₹32.0k Cr
- Sector
- Consumer Services
What ITC Hotels does
ITC Hotels Limited owns, manages, franchises and leases hotels spanning the luxury, upper-upscale/boutique and midscale-to-upscale/heritage segments, with its portfolio concentrated in India and extending to Sri Lanka and Nepal. It earns revenue from room bookings, food & beverage operations run out of in-house restaurant and banqueting brands, management fees on hotels operated for third-party owners, and real estate sales tied to select hospitality-linked developments. The business runs under six distinct hotel brands - ITC Hotels, Mementos, Welcomhotel, Storii, Fortune Hotels and WelcomHeritage - complemented by a stable of signature in-house F&B brands. Growth is pursued through an 'Asset-Right' strategy that favours signing new hotels under management/franchise contracts over building new owned properties.
Segments
- Rooms
- Food & Beverages
- Management Fees
- Real Estate
- Hotels in operating portfolio
- 140+
- Total keys (rooms) across portfolio
- 13,300+
- Destinations covered
- 90+
- Countries of operation
- India, Sri Lanka, Nepal
- Distinct hotel brands
- 6 (ITC Hotels, Mementos, Welcomhotel, Storii, Fortune Hotels, WelcomHeritage)
- Managed-hotel pipeline (signed, not yet open)
- 67 hotels (~6,700 keys)
Quarterly results
Q1 FY27: revenue up 14.7%, net profit up 35.8% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 778 | 1,015 | 1,061 | 816 | 839 +8% | 1,231 +21% | 1,254 +18% | 936 +15% |
| EBITDA | 212 | 381 | 412 | 245 | 246 +16% | 467 +23% | 466 +13% | 292 +19% |
| Net profit | 77 | 216 | 258 | 134 | 133 +73% | 237 +10% | 317 +23% | 182 +36% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −37.6% 1Y
1Y: ₹246.31 on 10 Sept 2025 → ₹153.69. High ₹266.5 (2 Sept 2026), low ₹137.87 (30 Mar 2026).
Financials, as filed
Revenue fell 75.5% a year over 2 years, FY24 to FY26. Operating margin narrowed to 34.4%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹69.2k Cr | ₹3.6k Cr | ₹4.1k Cr |
| Operating profit | ₹25.6k Cr | ₹1.2k Cr | ₹1.4k Cr |
| Operating margin | 37.1% | 34.0% | 34.4% |
| Interest | ₹43 Cr | ₹8 Cr | ₹8 Cr |
| Depreciation | ₹1.7k Cr | ₹403 Cr | ₹416 Cr |
| Net profit | ₹20.8k Cr | ₹638 Cr | ₹821 Cr |
| Net margin | 30.0% | 17.9% | 19.8% |
| Cash from operations | ₹672 Cr | ₹801 Cr | ₹1.1k Cr |
| Free cash flow | ₹22 Cr | ₹419 Cr | ₹701 Cr |
| ROCE | — | 10.0% | 11.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹1.2k Cr | ₹1.2k Cr | ₹1.2k Cr | ₹83 Cr | ₹1.3k Cr | ₹208 Cr |
| Reserves | ₹59.1k Cr | ₹61.2k Cr | ₹67.9k Cr | ₹8.4k Cr | ₹69.8k Cr | ₹11.4k Cr |
| Borrowings | ₹271 Cr | ₹249 Cr | ₹306 Cr | ₹74 Cr | ₹363 Cr | ₹74 Cr |
| Other liabilities | ₹13.1k Cr | ₹14.5k Cr | ₹16.4k Cr | ₹1.6k Cr | ₹19.4k Cr | ₹1.7k Cr |
| Total liabilities | ₹73.8k Cr | ₹77.2k Cr | ₹85.8k Cr | ₹10.2k Cr | ₹90.8k Cr | ₹13.5k Cr |
| Fixed assets | ₹23.3k Cr | ₹24.2k Cr | ₹25.9k Cr | ₹6.4k Cr | ₹22.4k Cr | ₹8.1k Cr |
| Capital work in progress | ₹4.0k Cr | ₹3.2k Cr | ₹3.0k Cr | ₹1.8k Cr | ₹1.3k Cr | ₹207 Cr |
| Investments | ₹24.9k Cr | ₹24.8k Cr | ₹29.4k Cr | ₹204 Cr | ₹32.5k Cr | ₹2.0k Cr |
| Other assets | ₹21.6k Cr | ₹24.9k Cr | ₹27.6k Cr | ₹1.8k Cr | ₹34.5k Cr | ₹3.2k Cr |
| Total assets | ₹73.8k Cr | ₹77.2k Cr | ₹85.8k Cr | ₹10.2k Cr | ₹90.8k Cr | ₹13.5k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs trimmed −13.75 pp while the public added +10.42 pp. The shareholder count shrank 8% to 22,86,422.
- Promoters
- 39.9%
- FIIs
- 11.6%
- DIIs
- 24.0%
- Government
- 0.0%
- Public
- 24.5%
Since Jun 2025
- FIIs −13.75 pp
- Public +10.42 pp
- DIIs +3.37 pp
How it drifted, 6 quarters
Over this window FIIs fell from 25.4% to 11.6% — −13.8 pp.
Ownership split by quarter, oldest first. Mar '25: Promoters 39.9%, FIIs 25.4%, DIIs 21.6%, Government 0.0%, Public 13.1%.Jun '25: Promoters 39.9%, FIIs 25.4%, DIIs 20.6%, Government 0.0%, Public 14.1%.Sep '25: Promoters 39.9%, FIIs 25.5%, DIIs 20.2%, Government 0.0%, Public 14.4%.Dec '25: Promoters 39.9%, FIIs 16.1%, DIIs 21.1%, Government 0.0%, Public 22.9%.Mar '26: Promoters 39.9%, FIIs 14.6%, DIIs 21.5%, Government 0.0%, Public 24.1%.Jun '26: Promoters 39.9%, FIIs 11.6%, DIIs 24.0%, Government 0.0%, Public 24.5%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Nippon Life India Trustee Ltd Mutual fund +0.69 pp 2.28% held
The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of ITC Hotels above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Itc Limited | 39.85% | unchanged |
| Life Insurance Corporation Of India Insurer | 8.70% | unchanged |
| Hcl Capital Private Ltd | 7.08% | unchanged |
| Tobacco Manufacturers (India) Limited Corporate | 6.28% | unchanged |
| Specified Undertaking of the Unit Trust of India NBFC / DFI | 4.68% | unchanged |
| Nippon Life India Trustee Ltd Mutual fund | 2.28% | +0.69 pp |
| Greenacre Holdings Limited | 0.00% | unchanged |
| Pavan Poplar Limited | 0.00% | unchanged |
| Technico Agri Sciences Limited | 0.00% | unchanged |
| ITC Infotech India Limited | 0.00% | unchanged |
| Blazeclan Technologies Limited | 0.00% | unchanged |
| Cloudlytics Technologies Private Limited | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in ITCHOTELS
Filings to Aug 2026
0 new, 5 added, 2 trimmed, 0 sold out — net −7.07 L shares (−1.4%).
- Held by funds
- ₹804 Cr
- 14 schemes
- Biggest holder
- Nippon India Multi Cap Fund
- ₹361 Cr · 0.6% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Multi Cap Fund Nippon India Mutual Fund | ₹361 Cr | −7.98 L | Jan '25 |
| Nippon India Growth Mid Cap Fund Nippon India Mutual Fund | ₹265 Cr | held | Dec '25 |
| HDFC Balanced Advantage Fund HDFC Mutual Fund | ₹67 Cr | held | Jan '25 |
| Nippon India Power & Infra Fund Nippon India Mutual Fund | ₹61 Cr | held | Dec '25 |
| Nippon India ETF Nifty Midcap 150 Nippon India Mutual Fund | ₹17 Cr | +0.63 L | Sep '25 |
| Nippon India Nifty Midcap 150 Index Fund Nippon India Mutual Fund | ₹12 Cr | +0.14 L | Sep '25 |
| HDFC Large and Mid Cap Fund HDFC Mutual Fund | ₹6 Cr | held | Jan '25 |
| SBI Nifty Midcap 150 Index Fund SBI Mutual Fund | ₹5 Cr | +0.14 L | Oct '25 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
5 added, 2 trimmed — net −7.07 L shares (−1.4%)
- Funds are sitting on
- -6%
- vs est. average cost
- Held by funds
- ₹804 Cr
- 14 schemes · ≈ 2.7% of the company
- Biggest holder
- Nippon India Multi Cap Fund
- ₹361 Cr · 0.6% of that fund
Shares held by these funds −11%
Jan '25 5.08 cr shares Jul '26
What the price assumes
Growth trapTo justify its price of ₹154, this stock must grow earnings at 25% every year for 7 years. Our analysis caps realistic growth at ~-47%. At that growth it is worth ₹4 — downside of 98%.
- Growth the price implies
- 25.4% a year
- for 7 years, fading to 4%
- It has actually compounded at
- -78.6% a year
- net profit, FY24–FY26 · EPS -47.3%
- The gap
- 0.7 pp
- -98% downside if it only repeats history
Learn to analyse ITC Hotels
Guides on how to read this kind of business and the numbers that matter.