Benares Hotels Reports 6.5% Revenue Growth in Q3FY26 to ₹42.7 Crores
Benares Hotels delivered solid Q3FY26 performance with 6.5% revenue growth to ₹42.7 crores and EBITDA of ₹19.5 crores at 46.94% margin. The IHCL subsidiary reported 4.4% PAT growth to ₹14.2 crores and announced expansion with 100-room wing launch in February 2026.
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Benares Hotels Limited, a subsidiary of The Indian Hotels Company (IHCL), has delivered strong financial performance in the third quarter of FY26, with revenue rising 6.5% year-on-year to ₹42.70 crores. The hospitality company reported profit after tax of ₹14.20 crores, representing a 4.4% increase from ₹13.60 crores in the corresponding quarter last year.
Quarterly Financial Performance
The company's Q3FY26 results demonstrate solid operational efficiency with EBITDA reaching ₹19.50 crores compared to ₹18.70 crores in Q3FY25. The company maintained a healthy EBITDA margin of 46.94% during the quarter, slightly down from 48.08% in the previous year, reflecting continued operational strength despite margin compression.
| Financial Metric: | Q3FY26 | Q3FY25 | Growth (%) |
|---|---|---|---|
| Revenue: | ₹42.70 cr | ₹40.10 cr | +6.50% |
| EBITDA: | ₹19.50 cr | ₹18.70 cr | +4.28% |
| Profit After Tax: | ₹14.20 cr | ₹13.60 cr | +4.40% |
| EBITDA Margin: | 46.94% | 48.08% | -1.14pp |
Nine-Month Performance Analysis
For the nine-month period ended December 31, 2025, Benares Hotels maintained steady growth momentum across key financial metrics. Revenue increased 5.30% to ₹95.00 crores from ₹90.20 crores in the corresponding period of FY25. EBITDA for the nine-month period grew to ₹42.20 crores compared to ₹41.40 crores in the previous year, while profit after tax reached ₹27.90 crores versus ₹27.20 crores.
| Nine-Month Metrics: | FY26 | FY25 | Change (%) |
|---|---|---|---|
| Revenue: | ₹95.00 cr | ₹90.20 cr | +5.30% |
| EBITDA: | ₹42.20 cr | ₹41.40 cr | +1.90% |
| Profit After Tax: | ₹27.90 cr | ₹27.20 cr | +2.60% |
Operational Developments and Expansion
Dr. Anant Narain Singh, Chairman of Benares Hotels Limited, highlighted that the revenue performance was enabled by a 6.00% RevPAR increase primarily led by rate growth. He announced that Taj Ganges's new wing comprising 100 rooms will be operational in February 2026, marking a significant expansion in the company's capacity.
Recognition and Awards
The company's properties have received notable recognition during the period. Taj ranked as India's Strongest Brand across sectors and industries by Brand Finance's Brand Value Report India 2024. Taj Nadesar Palace, Varanasi featured on the coveted Condé Nast Traveller Readers' Choice Awards 2025 as No. 3 in Best hotels in India list. Additionally, Taj Ganges, Varanasi has been awarded for outstanding contribution in environment sustainability by the Travel Welfare Association of Varanasi.
Corporate Information
Benares Hotels Limited is a listed public limited company incorporated in 1971, operating a hotel portfolio that includes Taj Ganges and Taj Nadesar Palace in Varanasi and Ginger, Gondia in Maharashtra. The company has been a subsidiary of The Indian Hotels Company Limited (IHCL) since 2011. The Board of Directors approved these financial results at their meeting held on January 15, 2026.
| Company Details: | Information |
|---|---|
| Incorporation Year: | 1971 |
| Parent Company: | IHCL (since 2011) |
| Key Properties: | Taj Ganges, Taj Nadesar Palace, Ginger Gondia |
| Board Meeting Date: | January 15, 2026 |
Historical Stock Returns for Benares Hotels
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.36% | +0.94% | +3.88% | -2.21% | +19.55% | +655.70% |
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