ITC Hotels share price: The company’s shares are expected to remain in focus after the ITC Hotels posted a strong Q4FY26 performance, prompting Elara Capital to reiterate its ‘Buy’ call with a target price of Rs 197. The hospitality major reported double-digit growth in revenue and profit, supported by robust room demand and improved operating performance.
The company also announced it will acquire Zuri Hotels and Resorts for an enterprise value of Rs 205 crore. The company’s revenue from operations rose 18 per cent YoY to Rs 1,253.70 crore in January-March period compared to Rs 1,061 crore in the year-ago period. Total expenses also shot up to Rs 895.35 crore from Rs 749.81 crore in the year-ago period.
Gross revenue from the sale of products and services increased 18 per cent to Rs 1,244 crore from Rs 1,052 crore in the year-ago period, while other operating revenue increased to Rs 9.82 crore from Rs 8.38 crore.
The company’s board has also executed a share purchase agreement for acquisition of 100 per cent stake in Zuri Hotels and Resorts. Zuri Hotels and Resorts owns and operates ‘The Zuri Kingmakers, Kerala Resort & Spa’ with 72 keys, 2 restaurants, a bar and an ayurvedic spa, spread over 18 acres of land.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
