# ITC Hotels (ITCHOTELS) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/itchotels

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹174.19
- Change: -1.33%
- As of: 2026-11-06
- 1D return: -1.33%
- 5D return: +4.20%
- 1M return: +12.65%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

ITCHOTELS (₹174.19) exhibits a sharp divergence between short-term momentum and long-term structure. Daily indicators show an established bullish trend, with price trading above all key moving averages and the Supertrend. This is supported by strong recent participation: three extreme-volume anomalies occurred between October 26 and 30, including a +5.2% daily move on 11x average volume. The stock sits near the upper end of its 20-day (+84.9%) and 50-day (+86.5%) ranges, suggesting immediate upside is capped.

However, the monthly chart remains bearish, with price below all major averages and the Supertrend, indicating the current rally is a counter-trend bounce within a longer downtrend (-17.4% over 1 year). Risk remains elevated, with annualized volatility at 32.0% and a current drawdown of -31.6%. Immediate resistance lies at ₹175.15 (0.55% above), while support is tight at ₹173.97 (0.13% below). A sustained break above ₹177.21 would be required to challenge the monthly bearish bias.

- Trend Divergence: Daily trend is bullish (ADX 27.33, price above all MAs/Supertrend), but monthly trend remains bearish (price below all MAs/Supertrend).
- Momentum & Participation: Recent extreme volume spikes (Oct 26-30) drove prices up, but the stock is positioned in the top 15% of its 20-day and 50-day ranges, limiting near-term upside.
- Key Levels: Immediate resistance at ₹175.15 (0.55% above); next pivot at ₹176.58 (1.37% above). Tight support at ₹173.97 (0.13% below).
- Risk Profile: High volatility (32.0% annualized) and significant historical drawdown (-45.9% max, -31.6% current) persist despite the recent bounce.

- Inside Bar
- Bullish Engulfing Reversal
- Harami
- Shooting Star
- Outside Bar

### News Context

ITC Hotels Limited advanced its expansion strategy in the National Capital Region (NCR) during early November 2026. On October 31, the company signed a management agreement for the 105-key Fortune Select Greater Noida hotel, located within India Expo Plaza at Knowledge Park II. This development follows the recent opening of Welcomhotel Manesar and is scheduled to open early next year, targeting corporate, MICE (Meetings, Incentives, Conferences, and Exhibitions), and leisure segments. Concurrently, broader industry data from October indicates that listed hotel chains and developers secured nearly 10,000 room signings across India, with ITC Hotels participating alongside peers like Lemon Tree Hotels in major agreements focused on smaller cities and airport hubs.

- ITC Hotels signed a management agreement for the 105-key Fortune Select Greater Noida property, expanding its NCR footprint following the Welcomhotel Manesar launch.
- The new Greater Noida hotel is expected to open early next year and targets corporate, MICE, and leisure guests.
- In October 2026, listed hotel chains collectively signed up to approximately 10,000 rooms, with ITC Hotels securing agreements in smaller cities and airport hubs.

- [Listed hotel chains, developers line up nearly 10,000 room signings in October | Company Business News](https://www.livemint.com/companies/news/listed-hotel-chains-developers-line-up-nearly-10-000-room-signings-in-october-11793362100109.html)
- [After Welcomhotel Manesar, ITC Hotels expands Delhi-NCR presence with 105-key Fortune Select Greater Noida | Company Business News](https://www.livemint.com/companies/news/after-welcomhotel-manesar-itc-hotels-expands-ncr-presence-with-105-key-fortune-select-greater-noida-11793429859849.html)

### Official Filings

ITC Hotels Limited reported strong financial growth for the second quarter and first half of FY27 (ended September 30, 2026), alongside strategic expansion moves. Consolidated revenue from operations rose 26% year-on-year to ₹1,054 crore in Q2, with Profit After Tax (PAT) increasing 52% to ₹203 crore. The company is actively expanding its footprint, having completed the acquisition of a 130-key hotel in Ahmedabad, signed 20 new hotels adding over 1,600 keys, and securing land in Lucknow for a 200+ key luxury property. Additionally, the Board approved the incorporation of a wholly owned subsidiary in Dubai, with an initial capital infusion cap of ₹20 crores, subject to regulatory approvals.

- Q2 FY27 Consolidated Revenue from Operations: ₹1,054 crore (+26% YoY); EBITDA: ₹337 crore (+37% YoY); PAT: ₹203 crore (+52% YoY).
- Standalone Performance: Revenue ₹885 crore (+16% YoY); EBITDA ₹301 crore (+28% YoY); PAT ₹207 crore (+37% YoY).
- Expansion Pipeline: Completed acquisition of 130-key Welcomhotel Ahmedabad; signed 20 hotels (1,600 keys); allotted 2.8-acre land in Lucknow for 200+ key luxury hotel; managed pipeline now stands at 84 hotels (~8,200 keys).
- International Expansion: Board approved incorporation of a wholly owned subsidiary in Dubai for hotel/restaurant operations; share capital subscription capped at ₹20 crores, to be infused in tranches subject to regulatory approvals.

- [ITC Hotels Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_26102026133100_Outcome_26_10_2026_F.pdf)
- [ITC Hotels Limited has informed the Exchange about Acquisition of a wholly owned subsidiary to be incorporated. |SUBJECT: Acquisition](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_26102026133426_Outcome_A.pdf)
- [ITC Hotels Limited has informed the Exchange regarding ' Unaudited Financial Results - Media Statement and Presentation'. |SUBJECT: Updates](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_26102026143508_Disclosure_Media_Release.pdf)
- [ITC HOTELS LIMITED has informed the Exchange regarding Acquisition of to be incorporated companies |SUBJECT: Acquisition of 'to be incorporated companies'-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_24844_WebXMLFile_20261026_161536788.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1745844_26102026041654_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1745847_26102026041801_WEB.xml)
- [AS ON DATE : 30-Sep-2026 | PR_AND_PRGRP: 39.85 | PUBLIC_VAL: 60.15 | EMPTR: 0 | NDS_REVISED_STATUS: - | SUBMISSION_DT: 20-Oct-2026 | REVISION_DT: -](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1742227_20102026125238_WEB.xml)
- [Financial Results |Meeting Date: 26-Oct-2026](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_19102026115035_PriorIntimation.pdf)
- [ITC HOTELS LIMITED has informed the Exchange about Board Meeting to be held on 26-Oct-2026 to inter-alia consider and approve the Unaudited Financial results of the Company for the Quarterly ended September 2026 . |SUBJECT: Board Meeting Intimation](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_24844_WebXMLFile_20261019_115908264.xml)
- [Board Meeting Intimation |Meeting Date: 26-Oct-2026](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_24844_WebXMLFile_20261019_115908264.xml)

### Fundamentals

ITC Hotels demonstrated strong operational momentum in Q2 FY2026-27 (Sep 2026), with revenue rising 26% year-on-year to ₹1,054 crore and net profit increasing 53% to ₹203 crore. This follows a solid full-year performance where sales grew 16% to ₹4,139 crore and net profit rose 29% to ₹821 crore for Mar 2026. Earnings quality remains robust, evidenced by Cash from Operating Activity reaching ₹1,110 crore in Mar 2026 and a CFO/EBITDA ratio of 95%. The balance sheet shows prudent leverage management; borrowings increased modestly to ₹84 crore as of Sep 2026, while Fixed Assets expanded to ₹8,360 crore. Working capital efficiency improved, with the Cash Conversion Cycle tightening to 20 days in Mar 2026. Shareholding patterns indicate a shift in institutional sentiment, with FIIs reducing their stake from 25.49% in Sep 2025 to 11.63% in Sep 2026, while DIIs increased from 20.21% to 23.56% over the same period.

The most critical checkpoint is the conversion of the growing Capital Work in Progress (₹201 crore as of Sep 2026) into revenue-generating assets. Investors should monitor whether these new assets drive further margin expansion or if cost inflation pressures operating margins in subsequent quarters.

- Q2 FY2026-27 revenue grew 26% YoY to ₹1,054 crore, with Net Profit jumping 53% to ₹203 crore.
- Operating cash flow strengthened significantly, reaching ₹1,110 crore in FY2026, supporting an improving Cash Conversion Cycle of 20 days.
- Institutional ownership shifted: FIIs reduced stakes to 11.63% (from 25.49%), while DIIs increased to 23.56% (from 20.21%) between Sep 2025 and Sep 2026.
- Next key metric: Monitoring the revenue contribution from the ₹201 crore CWIP pipeline to assess future growth sustainability.

### Bull Case

ITC Hotels presents a conditional upside case anchored by active portfolio expansion and short-term technical resilience, despite a broader bearish monthly trend and significant year-to-date underperformance. The company is executing on growth through new management agreements, including the recent signing for the 105-key Fortune Select Greater Noida hotel, which targets corporate, MICE, and leisure segments and is expected to open early next year. This aligns with a broader industry momentum where listed hotel chains secured nearly 10,000 room signings in October 2026, signaling sustained demand for branded inventory in smaller cities and airport hubs.

Technically, the stock shows signs of near-term stabilization. As of November 6, 2026, the daily and weekly supertrend indicators remain bullish, with the daily Plus DI (29.27) significantly outpacing the Minus DI (11.54), suggesting underlying buying pressure. The stock closed at ₹174.19, holding above immediate support levels at ₹173.97 and ₹173.78. However, this constructive setup exists within a challenging macro context: the stock has fallen 17.4% over the past year and trades 31.6% below its recent highs, with a bearish monthly supertrend indicating longer-term weakness. The positive case holds only if the upcoming property openings translate into visible revenue growth that can reverse the current drawdown trajectory.

- Portfolio Expansion: Signed a management agreement for the 105-key Fortune Select Greater Noida hotel, targeting corporate, MICE, and leisure guests with an expected opening early next year.
- Sector Momentum: Industry-wide activity remains robust, with listed hotel chains securing nearly 10,000 room signings in October 2026, focusing on emerging markets and airport hubs.
- Short-Term Technical Strength: Daily and weekly supertrends are bullish as of November 6, 2026, with the daily Plus DI (29.27) leading the Minus DI (11.54), indicating localized buying interest.
- Contextual Risk: The stock faces significant headwinds, trading 17.4% lower over one year and currently in a 31.6% drawdown from peak levels, with a bearish monthly supertrend suggesting longer-term pressure.

- [Listed hotel chains, developers line up nearly 10,000 room signings in October | Company Business News](https://www.livemint.com/companies/news/listed-hotel-chains-developers-line-up-nearly-10-000-room-signings-in-october-11793362100109.html)
- [After Welcomhotel Manesar, ITC Hotels expands Delhi-NCR presence with 105-key Fortune Select Greater Noida | Company Business News](https://www.livemint.com/companies/news/after-welcomhotel-manesar-itc-hotels-expands-ncr-presence-with-105-key-fortune-select-greater-noida-11793429859849.html)
- [ITC Hotels Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_26102026133100_Outcome_26_10_2026_F.pdf)
- [ITC Hotels Limited has informed the Exchange about Acquisition of a wholly owned subsidiary to be incorporated. |SUBJECT: Acquisition](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_26102026133426_Outcome_A.pdf)
- [ITC Hotels Limited has informed the Exchange regarding ' Unaudited Financial Results - Media Statement and Presentation'. |SUBJECT: Updates](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_26102026143508_Disclosure_Media_Release.pdf)
- [ITC HOTELS LIMITED has informed the Exchange regarding Acquisition of to be incorporated companies |SUBJECT: Acquisition of 'to be incorporated companies'-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_24844_WebXMLFile_20261026_161536788.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1745844_26102026041654_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1745847_26102026041801_WEB.xml)
- [AS ON DATE : 30-Sep-2026 | PR_AND_PRGRP: 39.85 | PUBLIC_VAL: 60.15 | EMPTR: 0 | NDS_REVISED_STATUS: - | SUBMISSION_DT: 20-Oct-2026 | REVISION_DT: -](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1742227_20102026125238_WEB.xml)
- [Financial Results |Meeting Date: 26-Oct-2026](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_19102026115035_PriorIntimation.pdf)

### Bear Case

ITC Hotels faces significant headwinds evidenced by a substantial decline in share price and elevated volatility. The stock has recorded a year-to-date return of -11.4% and a one-year return of -17.4%, with the current price trading at a 31.6% drawdown from its recent peak. Technical indicators highlight this weakness, as the monthly trend is bearish despite a daily bullish signal, suggesting conflicting momentum across timeframes. The stock’s annualized volatility stands at +32.0%, indicating high price sensitivity and risk for investors. While the company continues to expand its footprint through new management agreements, such as the 105-key Fortune Select Greater Noida, these operational developments have not yet translated into positive price performance or reduced downside risk in the current market setup.

- Year-to-date return is -11.4% and one-year return is -17.4%, reflecting sustained underperformance.
- Current drawdown is -31.6% against a maximum historical drawdown of -45.9%, signaling significant recent loss of value.
- Monthly technical trend is bearish (Supertrend direction: bearish), contrasting with the daily bullish signal, indicating unresolved medium-term pressure.
- Annualized volatility is +32.0% with an ATR percent of 2.94%, highlighting elevated price fluctuation risk.

- [Listed hotel chains, developers line up nearly 10,000 room signings in October | Company Business News](https://www.livemint.com/companies/news/listed-hotel-chains-developers-line-up-nearly-10-000-room-signings-in-october-11793362100109.html)
- [After Welcomhotel Manesar, ITC Hotels expands Delhi-NCR presence with 105-key Fortune Select Greater Noida | Company Business News](https://www.livemint.com/companies/news/after-welcomhotel-manesar-itc-hotels-expands-ncr-presence-with-105-key-fortune-select-greater-noida-11793429859849.html)
- [ITC Hotels Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_26102026133100_Outcome_26_10_2026_F.pdf)
- [ITC Hotels Limited has informed the Exchange about Acquisition of a wholly owned subsidiary to be incorporated. |SUBJECT: Acquisition](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_26102026133426_Outcome_A.pdf)
- [ITC Hotels Limited has informed the Exchange regarding ' Unaudited Financial Results - Media Statement and Presentation'. |SUBJECT: Updates](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_26102026143508_Disclosure_Media_Release.pdf)
- [ITC HOTELS LIMITED has informed the Exchange regarding Acquisition of to be incorporated companies |SUBJECT: Acquisition of 'to be incorporated companies'-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_24844_WebXMLFile_20261026_161536788.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1745844_26102026041654_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1745847_26102026041801_WEB.xml)
- [AS ON DATE : 30-Sep-2026 | PR_AND_PRGRP: 39.85 | PUBLIC_VAL: 60.15 | EMPTR: 0 | NDS_REVISED_STATUS: - | SUBMISSION_DT: 20-Oct-2026 | REVISION_DT: -](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1742227_20102026125238_WEB.xml)
- [Financial Results |Meeting Date: 26-Oct-2026](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_19102026115035_PriorIntimation.pdf)

### FAQs

**How did ITC Hotels perform financially in Q2 FY27 (ended September 30, 2026)?**

For the quarter ended September 30, 2026, consolidated revenue from operations rose 26% year-on-year to ₹1,054 crore. Consolidated EBITDA increased 37% to ₹337 crore, and PAT grew 52% to ₹203 crore. On a standalone basis, revenue was ₹885 crore (+16%), EBITDA was ₹301 crore (+28%), and PAT was ₹207 crore (+37%). These results were approved by the Board on October 26, 2026.

**What expansion activities has ITC Hotels announced recently?**

ITC Hotels has signed a management agreement for the 105-key Fortune Select Greater Noida hotel, expected to open early next year. The company also completed the acquisition of the 130-key Welcomhotel Ahmedabad and was allotted a 2.8-acre land parcel in Lucknow for a planned 200+ key luxury hotel. Additionally, the Board approved incorporating a wholly owned subsidiary in Dubai with an investment cap of ₹20 crores, subject to regulatory approvals.

**What is the current technical price structure for ITC Hotels shares?**

As of November 6, 2026, the stock closed at ₹174.19. Daily technical indicators show a bullish Supertrend direction with resistance levels at ₹175.15, ₹176.58, and ₹177.21. Support levels are identified at ₹173.97, ₹173.78, and ₹172.35. The stock has experienced a maximum drawdown of -45.9% historically, with a current drawdown of -31.6%.

- [Listed hotel chains, developers line up nearly 10,000 room signings in October | Company Business News](https://www.livemint.com/companies/news/listed-hotel-chains-developers-line-up-nearly-10-000-room-signings-in-october-11793362100109.html)
- [After Welcomhotel Manesar, ITC Hotels expands Delhi-NCR presence with 105-key Fortune Select Greater Noida | Company Business News](https://www.livemint.com/companies/news/after-welcomhotel-manesar-itc-hotels-expands-ncr-presence-with-105-key-fortune-select-greater-noida-11793429859849.html)
- [ITC Hotels Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_26102026133100_Outcome_26_10_2026_F.pdf)
- [ITC Hotels Limited has informed the Exchange about Acquisition of a wholly owned subsidiary to be incorporated. |SUBJECT: Acquisition](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_26102026133426_Outcome_A.pdf)
- [ITC Hotels Limited has informed the Exchange regarding ' Unaudited Financial Results - Media Statement and Presentation'. |SUBJECT: Updates](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_26102026143508_Disclosure_Media_Release.pdf)
- [ITC HOTELS LIMITED has informed the Exchange regarding Acquisition of to be incorporated companies |SUBJECT: Acquisition of 'to be incorporated companies'-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_24844_WebXMLFile_20261026_161536788.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1745844_26102026041654_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1745847_26102026041801_WEB.xml)
- [AS ON DATE : 30-Sep-2026 | PR_AND_PRGRP: 39.85 | PUBLIC_VAL: 60.15 | EMPTR: 0 | NDS_REVISED_STATUS: - | SUBMISSION_DT: 20-Oct-2026 | REVISION_DT: -](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1742227_20102026125238_WEB.xml)
- [Financial Results |Meeting Date: 26-Oct-2026](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_19102026115035_PriorIntimation.pdf)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Moderate Uptrend
- Weekly trend: Weak Uptrend
- Pivot point: ₹176.58
- Risk regime: Higher Price Risk

### Support levels
- 173.96875
- 164.299375
- 162.5

### Resistance levels
- 177.20999999999998
- 195.7
- 200.295

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | -1.33% |
| return_10 | +11.48% |
| return_1m | +8.73% |
| return_1y | -17.44% |
| return_20 | +12.65% |
| return_3m | +1.82% |
| return_5 | +4.20% |
| return_6m | +3.02% |
| return_since_start | +2.09% |
| return_ytd | -11.37% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -45.88% |
| annualized_volatility | +31.96% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# ITC Hotels Limited Q2 FY27: Revenue rises 26% year on year

Consolidated revenue from operations increased 25.6% year on year and 12.6% quarter on quarter to ₹1,054 crore. Profit before exceptional items and tax rose 48.4% year on year to ₹275 crore, while profit for the period increased 52.0% to ₹203 crore. The sequential rebound from Q1 FY27 was solid, but revenue and pre-tax profit remained below the levels recorded in Q3 and Q4 FY26.

## Revenue and operating costs

Revenue from operations rose from ₹936 crore in Q1 FY27 and ₹839 crore in Q2 FY26 to ₹1,054 crore in Q2 FY27. Total income, including ₹52 crore of other income, was ₹1,106 crore, up 11.2% quarter on quarter and 25.0% year on year.

Total expenses increased 10.8% quarter on quarter to ₹831 crore, slightly slower than revenue growth. Other expenses, the largest reported cost line, rose 11.7% to ₹376 crore from ₹337 crore in Q1. Q2 employee benefit expense was ₹207 crore, depreciation and amortisation ₹112 crore, and cost of materials consumed ₹134 crore.

Profit before exceptional items and tax increased 12.3% sequentially to ₹275 crore, from ₹245 crore in Q1 FY27, and was up from ₹185 crore in Q2 FY26. However, revenue and pre-tax profit remained below Q3 FY26’s ₹1,231 crore and ₹410 crore, and Q4 FY26’s ₹1,254 crore and ₹411 crore, respectively.

## Profit and earnings per share

Profit for the period was ₹203 crore, up 11.4% from ₹182 crore in Q1 FY27 and 52.0% from ₹133 crore in Q2 FY26. Tax expense increased to ₹75 crore from ₹66 crore in Q1. Of Q2 FY27 profit, ₹201 crore was attributable to owners of the parent and ₹1.6 crore to non-controlling interests.

Basic EPS from continuing operations was ₹0.97 and diluted EPS was ₹0.96, compared with ₹0.87 for both measures in Q1 FY27. Both were above ₹0.64 in Q2 FY26.

## Balance sheet and liquidity

Total assets stood at ₹13,660 crore at 30 September 2026, compared with ₹13,485 crore at 31 March 2026. Property, plant and equipment increased to ₹7,941 crore from ₹7,694 crore, while goodwill rose to ₹53.9 crore from ₹17.0 crore.

Cash and cash equivalents were ₹35.4 crore at 30 September, little changed from ₹35.2 crore at 31 March. Bank balances other than cash and cash equivalents increased to ₹1,283 crore from ₹730 crore, while current investments declined to ₹480 crore from ₹826 crore. Non-current investments were ₹987 crore, down from ₹1,004 crore.

Inventories declined to ₹1,165 crore from ₹1,240 crore over the same dates, while current trade receivables increased to ₹263 crore from ₹230 crore. Equity attributable to owners of the parent rose to ₹11,739 crore from ₹11,658 crore.

## Comprehensive income

Comprehensive income was ₹297 crore in Q2 FY27, compared with a loss of ₹28 crore in Q1 FY27. Other comprehensive income was ₹94.7 crore, versus a loss of ₹210 crore in Q1. Q2 included ₹92.8 crore of items that will be reclassified to profit and loss and ₹2.6 crore of items that will not be reclassified.

## Key Takeaway

Q2 FY27 delivered a sequential rebound and strong year-on-year growth in revenue and profit, with expenses growing slightly more slowly than revenue quarter on quarter. Yet revenue and pre-tax profit remained below Q3 and Q4 FY26 levels, making the quarter a recovery from Q1 rather than a return to those prior highs.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +39.85%
- FII holding: +5.33%
- DII holding: +23.98%
- Mutual fund holding: +6.69%
- Retail holding: +13.82%
- Promoter pledged: +0.00%

### Major reported shareholders

- ITC LIMITED — +39.85% (Bodies Corporate)
- LIFE INSURANCE CORPORATION OF INDIA — +8.70%
- HCL CAPITAL PRIVATE  LTD — +7.08%
- TOBACCO MANUFACTURERS (INDIA) LIMITED — +6.28%
- SPECIFIED UNDERTAKING OF THE UNIT TRUST OF INDIA — +4.68%
- NIPPON LIFE INDIA TRUSTEE LIMITED — +2.28%
- Insurance Companies — +1.01% (Other)
- Insurance Funds- Dept of Post India — +0.04% (Other)

## Official filings

- 2026-10-26 — Generic Announcement: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_26102026133100_Outcome_26_10_2026_F.pdf)
- 2026-10-26 — Generic Announcement: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_26102026133426_Outcome_A.pdf)
- 2026-10-26 — Generic Announcement: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_26102026143508_Disclosure_Media_Release.pdf)
- 2026-10-26 — Generic Announcement: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_24844_WebXMLFile_20261026_161536788.xml)
- 2026-10-26 — Financial Results Filing: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1745844_26102026041654_WEB.xml)
- 2026-10-26 — Financial Results Filing: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1745847_26102026041801_WEB.xml)
- 2026-10-20 — Shareholding Disclosure: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1742227_20102026125238_WEB.xml)
- 2026-10-19 — Board Meeting Notice: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_19102026115035_PriorIntimation.pdf)
- 2026-10-19 — Generic Announcement: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_24844_WebXMLFile_20261019_115908264.xml)
- 2026-10-19 — Board Meeting Notice: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_24844_WebXMLFile_20261019_115908264.xml)
- 2026-10-15 — Generic Announcement: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_15102026185345_Intimation_to_stock_exchange.pdf)
- 2026-10-15 — Generic Announcement: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_24844_WebXMLFile_20261015_190044136.xml)
- 2026-10-09 — Generic Announcement: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_09102026202253_Disclosure_74_5__ITCHL.pdf)
- 2026-09-25 — Generic Announcement: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_25092026195010_SE_Trading_Window.pdf)
- 2026-09-25 — Generic Announcement: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_24844_WebXMLFile_20260925_195341649.xml)
- 2026-09-22 — Generic Announcement: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_22092026172059_Intimation.pdf)
- 2026-09-21 — Generic Announcement: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_24844_WebXMLFile_20260921_185528577.xml)
- 2026-09-21 — Generic Announcement: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_21092026185356_StockExchange_Investors_Meet_signed.pdf)
- 2026-09-14 — Generic Announcement: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_24844_WebXMLFile_20260914_195907121.xml)
- 2026-09-14 — Generic Announcement: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_14092026195406_Stock_Exchanges-Investors_Meet_signed.pdf)
- 2026-09-01 — Generic Announcement: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_01092026192539_Acquisition_01_09_2026.pdf)
- 2026-09-01 — Generic Announcement: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_24844_WebXMLFile_20260901_193805174.xml)
- 2026-08-26 — Generic Announcement: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_24844_WebXMLFile_20260826_170754645.xml)
- 2026-08-26 — Generic Announcement: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_26082026170020_SE_Intimation_Investors_Conf.pdf)
- 2026-08-20 — Generic Announcement: ITC Hotels Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ITCHOTELS12_20082026105058_Outcome__Allotment_20-08-2026.pdf)

## News and market events

- 2026-11-01 — Mint: **Listed hotel chains, developers line up nearly 10,000 room signings in October | Company Business News** — Listed hotel chains and developers signed up to 10,000 rooms in India in October, with Indian Hotels Co. (IHCL) and Lemon Tree Hotels securing major agreements with Adani Airport Holdings and Omaxe respectively, focusing on smaller cities and airport hubs. — [Source](https://www.livemint.com/companies/news/listed-hotel-chains-developers-line-up-nearly-10-000-room-signings-in-october-11793362100109.html)
- 2026-10-31 — Mint: **After Welcomhotel Manesar, ITC Hotels expands Delhi-NCR presence with 105-key Fortune Select Greater Noida | Company Business News** — ITC Hotels Limited signed a management agreement for the 105-key Fortune Select Greater Noida hotel, expanding its presence in the NCR and Uttar Pradesh. The property, located within India Expo Plaza at Knowledge Park II, is expected to open early next year and targets corporate, MICE, and leisure guests. — [Source](https://www.livemint.com/companies/news/after-welcomhotel-manesar-itc-hotels-expands-ncr-presence-with-105-key-fortune-select-greater-noida-11793429859849.html)
- 2026-10-28 — MONEYCONTROL: **ITC Hotels target raised to Rs 205 as Nomura sees 16% hotel EBITDA CAGR** — ITC Hotels target raised to Rs 205 as Nomura sees 16% hotel EBITDA CAGR Follow Us On: Stocks: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Others Trending Topics more Sensex Today Jio Platforms Share Price Jio IPO Listing Price Cyclone Arnab Live Gold Price Akash Ambani Karnataka MLC Polls Israel exit polls HUL Q2 Results Prashant Kishor News more Business Markets Stocks India News City News Economy Mutual Funds Personal Finance IPO News Startups Markets more Home Currencies Commodities Pre-Market IPO Global Market US Markets Bonds Silver MCX Price Gold MCX Price Personal Finance more H — [Source](https://www.moneycontrol.com/news/business/stocks/itc-hotels-target-raised-to-rs-205-as-nomura-sees-16-hotel-ebitda-cagr-14062063.html)
- 2026-10-27 — MONEYCONTROL: **ITC Hotels shares extend rally for second day, rise 6% post-strong Q2; brokerages bullish, check share price targets** — ITC Hotels shares extend rally for second day, rise 6% post-strong Q2; brokerages bullish, check share price targets Follow Us On: Stocks: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Others Trending Topics more Sensex Today Jio IPO Allotment Jio IPO Listing Date Israel Elections 2026 live Microsoft Buyout news Gyanesh Kumar Benjamin Netanyahu Noel Tata Ather Share Price Anthropic IPO News more Business Markets Stocks India News City News Economy Mutual Funds Personal Finance IPO News Startups Markets more Home Currencies Commodities Pre-Market IPO Global Market US Markets Bonds Silver — [Source](https://www.moneycontrol.com/news/business/stocks/itc-hotels-shares-extend-rally-for-second-day-rise-6-post-strong-q2-brokerages-bullish-check-share-price-targets-14061076.html)
- 2026-10-27 — MONEYCONTROL: **ITC Hotels: Strong demand, robust pipeline drive growth outlook** — [Source](https://www.moneycontrol.com/news/business/stocks/itc-hotels-strong-demand-robust-pipeline-drive-growth-outlook-14060945.html)
- 2026-10-27 — FEEDS: **ITC Hotels Shares Extend Rally; Jump 6% After Q2 Profit Surges More Than 50%** — ITC Hotels posted a strong September quarter, on the back of sharp gains in its core hotels business, a jump in revenue from the branded residences segment, and recent acquisitions that expanded its portfolio — [Source](https://www.ndtvprofit.com/markets/itc-hotels-share-price-stock-jumps-to-extend-rally-after-over-50-surge-in-q2-net-profit-12240821)
- 2026-10-27 — Mint: **ITC Hotels share price jumps 6% after Q2 results - Is it the right time to buy the stock? Experts decode** — During market hours on Monday, ITC Hotels said its profit for the September quarter jumped 51.4% year-on-year (YoY) to ₹201.02 crore. — [Source](https://www.livemint.com/market/stock-market-news/itc-hotels-share-price-jumps-6-after-q2-results-is-it-the-right-time-to-buy-the-stock-experts-decode-11793073302905.html)
- 2026-10-27 — Mint: **Paytm, Vodafone Idea, ITC Hotels, Sona BLW to Tata Consumer shares: Jefferies sees up to 34% upside | Target, rationale** — Jefferies India stock recommendations: The global investment bank has given its views on above-mentioned 5 shares after analysing their fundamentals — [Source](https://www.livemint.com/market/stock-market-news/paytm-vodafone-idea-itc-hotels-sona-blw-to-tata-consumer-shares-jefferies-sees-up-to-34-upside-target-rationale-11793071569997.html)
- 2026-10-27 — Times of India: **ITC Hotels Q2 profit jumps 52% to Rs 203 cro** — New Delhi: ITC Hotels Monday reported a 52% increase in Sept quarter net profit to Rs 203 crore, with revenue rising 26% to Rs 1,054 crore. — [Source](https://timesofindia.indiatimes.com/business/india-business/itc-hotels-q2-profit-jumps-52-to-rs-203-crore/articleshow/135222504.cms)
- 2026-10-26 — Times of India: **ITC Q2 profit jumps 52% to Rs 203 crore** — NEW DELHI: Hospitality major ITC Hotels Ltd Monday reported a Q2 profit of Rs 203 crore, up 52% from same period last fiscal, with the revenue rising 26% — [Source](https://timesofindia.indiatimes.com/business/india-business/itc-q2-profit-jumps-52-to-rs-203-crore/articleshow/135213854.cms)
- 2026-10-26 — The Hindu: **ITC Hotels Q2 net profit jumps 52% to ₹202.65 crore** — Hospitality major ITC Hotels on Monday reported a roughly 52 per cent year-on-year increase in consolidated net profit to ₹202.65 crore for the second quarter of this fiscal year, supported by more than a 25 per cent y-o-y jump in gross revenue. — [Source](https://www.thehindubusinessline.com/companies/itc-hotels-q2-net-profit-jumps-52-to-20265-crore/article71627512.ece)
- 2026-10-26 — Economic Times: **ITC Hotels reports revenues of Rs 1054 cr for Q2, PAT at Rs 203 cr** — ITC Hotels reported strong second-quarter growth, with revenue rising 26% and net profit increasing 52% year on year, supported by higher room rates, occupancy and demand from business events. The company also expanded its portfolio through new hotel signings, the Welcomhotel Ahmedabad acquisition and a land allotment in Lucknow. — [Source](https://economictimes.indiatimes.com/markets/stocks/earnings/itc-hotels-reports-revenues-of-rs-1054-cr-for-q2-pat-at-rs-203-cr/articleshow/135210456.cms)
- 2026-10-26 — The Hindu: **ITC Hotels' net profit rises 52% to ₹202.65 crore in July-September** — The hospitality sector player had posted a net profit of ₹133.29 crore during the corresponding July-September (Q2) period of the previous financial year. — [Source](https://www.thehindubusinessline.com/companies/itc-hotels-net-profit-rises-52-to-20265-crore-in-july-september/article71626714.ece)
- 2026-10-26 — CNBC-TV18: **Sensex rises 483 points, Nifty ends at day’s high: Key factors behind market rally** — The Sensex gained 483 points to 73,607 and the Nifty rose 153 points to 22,753, with both benchmarks ending at the day’s high. Dr Reddy’s, Aether Energy and BSE were among the notable gainers, while Shriram Finance and Supreme Industries declined after guidance cuts. — [Source](https://www.cnbctv18.com/market/sensex-rises-483-points-nifty-ends-at-days-high-key-factors-behind-market-rally-20019458.htm)
- 2026-10-26 — Mint: **Q2 results 2026 today, schedule: Paytm, Tata Con, REC among 90 firms to announce quarterly earnings | Full list** — Q2 results 2026 today, schedule: Among the key companies set to report their quarterly earnings today are Paytm, Mankind Pharma, Tata Consumer Products, ITC Hotels and REC. — [Source](https://www.livemint.com/market/stock-market-news/q2-results-2026-today-schedule-paytm-tata-con-rec-among-90-firms-to-announce-quarterly-earnings-full-list-11792983346368.html)
- 2026-10-25 — Mint: **Stock market prediction for Monday Oct 26: Sensex, Nifty levels, top stocks to watch - Will bulls dance again?** — The Nifty 50 fell nearly 2% last week as geopolitical tensions and crude oil volatility weighed on markets, taking year-to-date losses to 13.56%. Analysts see support near 22,300 and resistance at 22,850–22,900. Infosys, Kotak Mahindra Bank and Reliance Industries will be among stocks in focus. — [Source](https://www.livemint.com/market/stock-market-news/stock-market-prediction-for-monday-oct-26-sensex-nifty-levels-top-stocks-to-watch-will-bulls-dance-again-11792934825551.html)
- 2026-09-28 — Mint: **Hotel companies race for prime land as room demand outpaces supply | Mint** — Strong hotel demand and limited new supply are prompting operators to secure land and development rights in prime markets. — [Source](https://www.livemint.com/industry/hotel-companies-race-for-prime-land-as-room-demand-outpaces-supply-11790415587112.html)
- 2026-09-26 — Mint: **Three midcap stocks with strong growth potential** — Kalpataru Projects, ITC Hotels and Waaree Energies are expanding capacity, entering new markets and building order books as they target the next phase of growth. — [Source](https://www.livemint.com/market/stock-market-news/three-midcap-stocks-with-strong-growth-potential-11790335464682.html)
- 2026-09-24 — Mint: **Top breakout stocks to buy tomorrow: ITC Hotels, RR Kabel, MCX, Texrail, UBL by Sumeet Bagadia | Targets** — Sumeet Bagadia from Choice Broking has recommended ITC Hotels, RR Kabel, MCX, Texrail, and UBL. Each stock shows positive technical setups with potential price targets and risk levels, indicating strong upward momentum and renewed buying interest. — [Source](https://www.livemint.com/market/stock-market-news/top-breakout-stocks-to-buy-tomorrow-itc-hotels-rr-kabel-mcx-texrail-ubl-by-sumeet-bagadia-targets-11790262992516.html)
- 2026-09-22 — BUSINESSTODAY: **ITC Hotels shares: Jefferies sees 32% upside; stock down 19% in 2026 so far** — ITC Hotels share, ITC Hotels share price, ITC Hotels shares, ITC Hotels share price today — [Source](https://www.businesstoday.in/markets/stocks/story/itc-hotels-shares-jefferies-sees-32-upside-stock-down-19-in-2026-so-far-557014-2026-09-22)
- 2026-09-11 — Economic Times: **India says 'I do' as wedding boom sends hotel bookings soaring** — Hotels are experiencing a significant increase in wedding bookings for upcoming seasons. Most prime dates at popular destinations are already reserved by planners. Enquiries and confirmed bookings are arriving four to six months in advance. Hoteliers anticipate double-digit revenue growth in the wedding segment. Spending on curated guest experiences and personalized decor is also rising. — [Source](https://economictimes.indiatimes.com/industry/services/hotels-/-restaurants/india-says-i-do-as-wedding-boom-sends-hotel-bookings-soaring/articleshow/134086096.cms)
- 2026-09-06 — Economic Times: **Global hotel chains step up India presence as luxury demand rises** — Multiple global hotel chains are gearing up to establish their presence in India, while current hospitality brands are rolling out new luxury and lifestyle properties. Dusit made its much-anticipated return to India last year, and Hyatt is actively exploring potential sites. Both Marriott and Hilton are set to introduce fresh hotel brands in the market, alongside IHG Hotels & Resorts and ITC Hotels, who are also launching exciting new offerings. — [Source](https://economictimes.indiatimes.com/industry/services/hotels-/-restaurants/global-hotel-chains-step-up-india-presence-as-luxury-demand-rises/articleshow/133811987.cms)
- 2026-09-04 — Mint: **Stock market today: Gift Nifty hints a positive start; eight day trading stocks to buy on Friday, 4 September** — Indian stock market indices, Sensex and Nifty 50, are expected to open higher on 4 September, following positive global cues. Previous sessions saw declines, but easing bond yields may boost risk assets. Cautious trading is projected ahead of key US nonfarm payrolls data. — [Source](https://www.livemint.com/market/stock-market-news/stock-market-today-gift-nifty-hints-a-positive-start-eight-day-trading-stocks-to-buy-on-friday-4-september-11788485416492.html)
- 2026-09-02 — BUSINESSTODAY: **ITC Hotels shares fall 3% amid completion of GHK Hospitality acquisition** — ITC Hotels shares, ITC Hotels share price, ITC Hotels  shares today, ITC Hotels shares news today, ITC Hotels — [Source](https://www.businesstoday.in/markets/stocks/story/itc-hotels-shares-fall-3-amid-completion-of-ghk-hospitality-acquisition-552724-2026-09-02)
- 2026-09-02 — BUSINESSTODAY: **ITC Hotels shares in focus on completion of GHK Hospitality acquisition; key details** — ITC Hotels share price, ITC Hotels share, ITC Hotels news, ITC Hotels share price today, ITC Hotels — [Source](https://www.businesstoday.in/markets/stocks/story/itc-hotels-shares-in-focus-on-completion-of-ghk-hospitality-acquisition-key-details-552706-2026-09-02)

## Business profile

**Strategic vision:** Luxury hotel chain operating diverse hospitality brands in India.

### Business segments
- **ITC Hotels:** The flagship luxury brand characterized by historic-inspired architecture, regional dining experiences, and focus on ecological practices.
- **Mementos:** A collection brand that partners with unique boutique hotels and resorts to offer experiential luxury stays.
- **Welcomhotel:** A premium brand targeting business and leisure travelers in mid-to-high tier cities.
- **Storii:** A boutique leisure brand offering curated, experiential stays in scenic getaways.
- **Fortune Hotels & WelcomHeritage:** Joint ventures and subsidiaries serving the mid-market business travel and heritage tourism segments respectively.

### Competitive strengths
- Multi-brand portfolio covering luxury, premium business, and leisure segments.
- Operational flexibility through owned, leased, and managed properties.
- Commitment to sustainable hospitality practices.

## Related stocks

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- [Indian Railway Catering And Tourism Corporation Limited (Tourism & Hospitality)](https://faxioms.com/stocks/irctc) — +0.05%
- [Leela Palaces Hotels & Resorts Limited (Tourism & Hospitality)](https://faxioms.com/stocks/theleela) — -0.22%
- [Chalet Hotels Limited (Tourism & Hospitality)](https://faxioms.com/stocks/chalet) — -0.64%
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## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/itchotels
Markdown representation: https://faxioms.com/stocks/itchotels?render=md