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

ICICI Securities Limited

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

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External broker reports(aggregated public sources)

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.

Equity Bottom-Up

<ul><li>Indian Hotels Co. Ltd.’s (IHCL) Q4FY24 reported in-line consolidated revenue of INR 19bn, as Q4FY24 standalone RevPAR grew 10% YoY with ARRs rising 4% and occupancy by 440bps YoY to 79.1%.</li><li>According to IHCL, demand drivers remain intact heading into FY25, and it is targeting double-digit consolidated revenue growth in FY25 with new businesses expected to grow more than 30% YoY.</li><li>We raise our FY25E/26E revenue by 3%/4%, and FY25E/26E EBITDA by 2% each, building in accelerated room openings and higher standalone ARR growth of 9% for FY25/26E vs. 7% earlier.</li></ul><p><em>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.</em></p>

Indian Hotels Co. Ltd.’s (IHCL) Q4FY24 reported in-line consolidated revenue of INR 19bn, as Q4FY24 standalone RevPAR grew 10% YoY with ARRs rising 4% and occupancy by 440bps YoY to 79.1%.According to IHCL, demand drivers remain intact heading into FY25, and it is targeting double-digit consolidated revenue growth in FY25 with new businesses expected to grow more than 30% YoY.We raise our FY25E/26E revenue by 3%/4%, and FY25E/26E EBITDA by 2% each, building in accelerated room openings and higher standalone ARR growth of 9% for FY25/26E vs. 7% earlier.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 - Strong End to Another Stellar Year