Taj GVK Hotels & Resorts has scheduled its 31st Annual General Meeting (AGM) for September 9, 2026. The event will take place at 11:00 am through Video Conferencing and Other Audio-Visual Means (VC/OAVM), allowing shareholders to participate remotely.

The company notified the Bombay Stock Exchange and the National Stock Exchange of India Ltd regarding the intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This disclosure ensures compliance with regulatory mandates for corporate governance and shareholder communication.

Annual Report Access

Pursuant to Regulation 36(1)(b) of the SEBI Listing Regulations, Taj GVK Hotels has dispatched a web-link containing the complete details of the AGM notice along with the Annual Report for the Financial Year 2025-26. This communication is specifically directed towards members who have not registered their email addresses with the company or its depositories.

Shareholders can access the soft copy of the notice and the annual report by visiting the company’s official website. The document provides comprehensive insights into the financial performance and operational updates for FY26.

Key Details

The communication was signed by J Srinivasa Murthy, CFO and Company Secretary, confirming the procedural adherence to listing obligations. Shareholders are advised to refer to the AGM notice within the annual report for further details regarding participation processes.

TAJ GVK Hotels & Resorts Limited delivered its highest-ever standalone annual revenue of ₹502.52 crore in FY26, marking strong year-on-year growth from ₹461.32 crore in FY25. Profit After Tax rose 23% to ₹116.97 crore from ₹94.85 crore in the prior year, supported by sustained demand across leisure, business and social travel segments, improved operating leverage, and disciplined cost management. RevPAR grew 26% during the year, reflecting continued strength across the company's hotel portfolio.

Standalone financial performance

The company's standalone results for FY26 reflected broad-based revenue growth across rooms, food and beverage, and banquet segments. Room revenue stood at ₹260.45 crore and food and beverage income at ₹198.97 crore. Total expenses increased to ₹344.52 crore from ₹332.73 crore in the previous year, with total income growing 9% while total expenses rose 4%.

Depreciation for the year was ₹12.65 crore, lower than ₹13.20 crore in FY25. Finance costs declined to ₹4.66 crore from ₹8.85 crore in the previous year, a reduction of ₹4.19 crore, on account of repayment of term loans and better working capital management. Food and beverages consumed increased 8% to ₹41.06 crore from ₹38.16 crore. Employee benefit expenses and payment to contractors rose 12% to ₹94.71 crore from ₹84.51 crore.

Subsidiary performance

During the year, the company acquired an additional 2.01% equity stake in Green Woods Palaces and Resorts Private Limited on February 10, 2026, increasing its shareholding from 48.99% to 51.00%. This resulted in Green Woods becoming a subsidiary of TAJ GVK Hotels & Resorts Limited with effect from that date.

Green Woods operates the Taj Santacruz hotel at Mumbai Airport. The subsidiary reported its highest-ever topline of ₹236.51 crore in FY26, compared to ₹231.83 crore in the previous year, and a Total Comprehensive Income of ₹49.04 crore.

The subsidiary also declared a dividend of ₹6 per equity share of ₹10 each, fully paid up, subject to approval of the subsidiary company shareholders at the ensuing Annual General Meeting.

Consolidated results

On a consolidated basis, the company reported Profit After Tax of ₹410.26 crore for FY26, compared to ₹117.19 crore in the previous year. The consolidated results include a gain on fair valuation of the previously held equity investment in Green Woods due to business combination, recognised as an exceptional item of ₹282.64 crore in the Consolidated Statement of Profit and Loss. Consolidated total revenue from operations stood at ₹517.02 crore for FY26.

Dividend and capital structure

The Board of Directors recommended a dividend of 100%, i.e., ₹2.00 per equity share of face value ₹2.00 each for FY26, subject to approval of members at the ensuing Annual General Meeting. The record date for dividend entitlement has been fixed as September 1, 2026. The total dividend payout will aggregate to ₹12.54 crore.

The company's credit ratings as assigned by India Ratings stand at IND A+/Stable for long-term loans and IND A1+ for short-term loans. Borrowings as at March 31, 2026 stood at ₹70.44 crore, representing a term loan from Federal Bank Limited for the Yelahanka, Bengaluru hotel project. The debt-equity ratio stood at 0.09:1.

Five-year financial highlights

The table below presents key standalone financial metrics over five years.

Promoter shareholding change and proposed name change

A significant corporate development during the year was the sale by Indian Hotels Company Limited (IHCL) of its entire 25.52% equity stake in the company to GVK group shareholders, terminating the joint venture arrangement that had been in place since 1999-2000. Following the transaction, IHCL's promoter shareholding was reclassified to the public category, and the GVK shareholders' aggregate promoter holding increased from 49.47% to 74.99%. IHCL continues to operate all hotels in the company's portfolio under new Hotel Management Agreements.

Consequent to the termination of the Name and License Agreement with IHCL, the company has proposed to change its name from "TAJ GVK Hotels & Resorts Limited" to "Krishna GVK Luxury Hotels Limited", subject to approval of members at the 31st Annual General Meeting scheduled for September 9, 2026, and requisite regulatory approvals.

Hotel renovation and new project

During FY26, the company completed renovation and refurbishment of 24 guest rooms and public areas at Taj Deccan, and completed major asset enhancement initiatives including a new gym and spa at Taj Krishna. An amount of ₹8.01 crore was spent on renovation of rooms and public areas during the year.

The Yelahanka, Bengaluru hotel project, comprising 255 rooms with an estimated project cost of approximately ₹450 crore, completed all rooms and public area works during the year and received the Occupancy Certificate from Karnataka Industrial Areas Development Board, Fire NOC, and Karnataka Pollution Control Board clearance. The hotel is proposed to become operational in the current financial year. The company has a term loan of ₹200 crore from Federal Bank Limited to part-finance this project, with ₹70.44 crore outstanding as at March 31, 2026.

Foreign exchange earnings and outgo