ITC Hotels Ltd reported a 22.96% year-on-year rise in consolidated profit attributable to owners of the parent at ₹315.89 crore for the March quarter, while revenue from operations grew 18.2% to ₹1,253.70 crore, according to its audited results released on Thursday. The company also said its board approved the 100% acquisition of Zuri Hotels and Resorts Pvt Ltd through a newly executed share purchase agreement, valuing the transaction at an enterprise value of ₹205 crore on a cash-free, debt-free basis.

Expansion push

The filing said ITC Hotels is targeting 250 hotels and more than 22,000 keys by 2031, up from its current operating footprint of 155 hotels and 14,294 keys. That gives a clear picture of the company’s long-term expansion strategy as it continues to scale up after the demerger of the hotels business from ITC Ltd.

Quarter performance

Consolidated total income rose to ₹1,306.45 crore in the March quarter from ₹1,098.81 crore a year earlier, while profit before tax stood at ₹418.36 crore. The company said profit for the period was ₹317.43 crore, and that the board approved the audited standalone and consolidated results at its meeting on May 15.

Dividend and shareholder timeline

The board recommended a final dividend of ₹1 per equity share of face value ₹1 each for FY26. If approved, the dividend will be paid between August 10 and August 14, with May 21 fixed as the record date and the third annual general meeting scheduled for August 6.

The filing also noted that the company now operates across hotel services, real estate-linked activities and related hospitality businesses through its consolidated structure. ITC Hotels said the demerger scheme became effective from January 1, 2025, and that the quarter’s figures are the first full-year audited comparison after separation from ITC Ltd.

The Zuri acquisition and the 2031 hotel-count target are important because they show the company is not just reporting earnings momentum, but also indicating a faster growth phase through expansion and M&A.

Shares of ITC Hotels Ltd ended 0.90% higher at ₹156.75 apiece on the NSE on Friday, though the stock has fallen more than 22% over the past year, underperforming the Nifty 500, which has slipped a little over 1% in the same period.