INDIAN HOTELS FUNDAMENTAL & TECHNICAL RESEARCH REPORT

The Indian Hotels Company (NSE: INDHOTEL, BSE: 500850), a Tata group company (Tata Sons and group entities hold 38.12%),is India’s largest hospitality company . It runs 670 hotels including the pipeline (382 operational, 33,609 keys) under Taj,Vivanta, SeleQtions, Gateway, Ginger and Tree of Life, plus TajSATS air catering, Qmin and the amã Stays villa brand. It alsoowns international landmarks (St. James’ Court London, The Pierre New York, Taj Exotica Dubai). Lane note: INDHOTEL is anF&O stock; this positional report was run on the owner’s instruction as an override of the SOP three-buckets rule. Event 1 - 17 straight record quarters. Q1 FY27 consolidated revenue was Rs 2,419 Cr (+15%) , EBITDA Rs 753 Cr (31.1%) andPAT Rs 358 Cr (+21%), per management (call, 21-Jul-2026). Domestic RevPAR grew 14% and management fees 26%. Guidance:double-digit growth for FY27 (analysts cite 12-14%), and Q2 “similar or even better” on the top line.