External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Standalone Domestic Business shows Encouraging Growth: The standalone domestic business reported a muted growth of 2.4% YoY.</li><li>Standalone ARR on Like For Like H1FY26 (Average Room Rate) increased to Rs 14,400 (+5% YoY), with occupancy reaching 76% flat on YoY.</li><li>This resulted in standalone RevPAR growth of 5% YoY. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Standalone Domestic Business shows Encouraging Growth: The standalone domestic business reported a muted growth of 2.4% YoY.Standalone ARR on Like For Like H1FY26 (Average Room Rate) increased to Rs 14,400 (+5% YoY), with occupancy reaching 76% flat on YoY.This resulted in standalone RevPAR growth of 5% YoY. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Indian Hotels Company Ltd - Strong H2 Expected; Maintain BUY

<ul><li>Standalone domestic business shows encouraging growth: The standalone domestic business reported a growth of 10% YoY.</li><li>Standalone ARR (Average Room Rate) increased to Rs 21,103 (+20.2% YoY), with occupancy reaching 80.1%, an improvement of 100 bps YoY.</li><li>This resulted in standalone RevPAR growth of 21.3% YoY, largely driven by growth in the F&amp;B segment. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Standalone domestic business shows encouraging growth: The standalone domestic business reported a growth of 10% YoY.Standalone ARR (Average Room Rate) increased to Rs 21,103 (+20.2% YoY), with occupancy reaching 80.1%, an improvement of 100 bps YoY.This resulted in standalone RevPAR growth of 21.3% YoY, largely driven by growth in the F&amp;B segment. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Indian Hotels Company Ltd - Another Quarter Marked by Double-Digit Growth and Positive Trends

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>We recently hosted Indian Hotels’ (IHCL) management for meetings with investors in Singapore.</li><li>IHCL reiterated its ‘Accelerate 2030’ strategy – doubling operational + pipeline hotels to 700+ over FY24–30; thus, doubling its consol. revenue at a 14% CAGR over the same period.</li><li>IHCL’s focus remains on boosting capex; it seeks to utilise 20–25% of its annual EBITDA towards renovation, ongoing new builds and digital capex along with commencing construction of the long-awaited Sea Rock Hotel (Bandstand) in CY25.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We recently hosted Indian Hotels’ (IHCL) management for meetings with investors in Singapore.IHCL reiterated its ‘Accelerate 2030’ strategy – doubling operational + pipeline hotels to 700+ over FY24–30; thus, doubling its consol. revenue at a 14% CAGR over the same period.IHCL’s focus remains on boosting capex; it seeks to utilise 20–25% of its annual EBITDA towards renovation, ongoing new builds and digital capex along with commencing construction of the long-awaited Sea Rock Hotel (Bandstand) in CY25.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Indian Hotels (IH) reported strong consolidated revenue growth of 29% YoY in 3QFY25, led by healthy RevPAR growth of 15% (ARR up 13% and OR up 120bp YoY) in its standalone business.</li><li>Like-for-like hotel revenue growth stood at ~15% YoY, while TajSats grew by 18% YoY.</li><li>The new and reimagined business reported 40% YoY growth.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Indian Hotels (IH) reported strong consolidated revenue growth of 29% YoY in 3QFY25, led by healthy RevPAR growth of 15% (ARR up 13% and OR up 120bp YoY) in its standalone business.Like-for-like hotel revenue growth stood at ~15% YoY, while TajSats grew by 18% YoY.The new and reimagined business reported 40% YoY growth.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Indian Hotels - Healthy RevPAR Growth Boosts Revenue

External broker reports(aggregated public sources), Sharekhan

Sharekhan

Sharekhan is India's leading broking house providing services from easy online trading, research to wide array of financial products. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Indian Hotels Company Ltd’s (IHCL’s) Q3FY25 numbers were strong with domestic like-for-like (LFL) RevPAR growth at 13% y-o-y, management fees rising 32% y-o-y and new businesses seeing 40% y-o-y growth.</li><li>Consolidated revenue/adjusted PAT (including Taj SATS) rose 29%/40% y-o-y, respectively.</li><li>Strong momentum set to continue in Q4 led by large-scale regional events, weddings and continued business and leisure demand.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Indian Hotels Company Ltd’s (IHCL’s) Q3FY25 numbers were strong with domestic like-for-like (LFL) RevPAR growth at 13% y-o-y, management fees rising 32% y-o-y and new businesses seeing 40% y-o-y growth.Consolidated revenue/adjusted PAT (including Taj SATS) rose 29%/40% y-o-y, respectively.Strong momentum set to continue in Q4 led by large-scale regional events, weddings and continued business and leisure demand.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Indian Hotels Company Ltd - Stellar Q3; Strong Outlook Ahead

India

Indian Hotels Company Limited operates The Taj Group of hotels.  The Company owns or maintains long term leases/licenses for hotels in India, in addition to International hotels.  The Group's hotels are divided into three groups: Luxury, Business, and, Leisure.

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Indian Hotels (IH IN)

Indian Hotels Company Ltd - Strong H2 Expected; Maintain BUY

Standalone Domestic Business shows Encouraging Growth: The standalone domestic business reported a muted growth of 2.4% YoY.

Axis Direct

Indian Hotels Company Ltd - Another Quarter Marked by Double-Digit Growth and Positive Trends

Standalone ARR (Average Room Rate) increased to Rs 21,103 (+20.2% YoY), with occupancy reaching 80.1%, an improvement of 100 bps YoY.

Axis Direct

Indian Hotels - Growth Checking In

IHCL reiterated its ‘Accelerate 2030’ strategy – doubling operational + pipeline hotels to 700+ over FY24–30; thus, doubling its consol. revenue at...

ICICI Securities Limited

Indian Hotels - Healthy RevPAR Growth Boosts Revenue

Indian Hotels (IH) reported strong consolidated revenue growth of 29% YoY in 3QFY25, led by healthy RevPAR growth of 15% (ARR up 13% and OR up...

Motilal Oswal

Indian Hotels Company Ltd - Stellar Q3; Strong Outlook Ahead

Strong momentum set to continue in Q4 led by large-scale regional events, weddings and continued business and leisure demand.

Sharekhan

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