27-Oct-2026 08:03:05

HSBC on ITC Hotels ; Buy, TP Rs 205

Q2FY27 EBITDA beat consensus by 6%, and margin expanded by 200bps; RevPAR grew by 21% YoY No guidance for FY27 but management indicated low-double digit to mid-teen earnings growth for next 3-4 years While its domestic operating ROCE was 19.5%, group ROCE is still low due to its Colombo assets and big treasury income

ITC HOTELS LIMITED

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