ITC Hotels has delivered a positive financial performance in the third quarter, with consolidated net profit showing steady growth compared to the corresponding period in the previous year.

Financial Performance Overview

The hospitality company reported consolidated net profit of ₹235.00 crores for the third quarter, representing an improvement from ₹215.00 crores recorded in the same quarter of the previous year. This translates to a year-on-year growth rate of 9.30%.

Business Performance Analysis

The year-on-year increase in consolidated net profit demonstrates ITC Hotels' ability to maintain profitability growth during the third quarter. The ₹20.00 crore absolute increase in net profit reflects the company's operational efficiency and business execution during this period.

The 9.30% growth rate indicates steady progress in the company's financial performance, with the hospitality business showing resilience and consistent profit generation capabilities. This performance metric provides insight into the company's operational effectiveness during the quarter under review.

ITC Hotels has secured a major land allotment from India International Convention & Exhibition Centre at New Delhi, marking a significant expansion move in the luxury hospitality sector. The land has been allocated on lease basis specifically for the development of a 5-star hotel facility.

Land Allotment Details

The key parameters of this land allotment are outlined below:

Strategic Development Initiative

This land acquisition represents a substantial investment in ITC Hotels' expansion strategy in the national capital region. The lease arrangement provides the company with the opportunity to develop a premium hospitality facility in one of India's most strategic locations.

Investment Commitment

The lease premium of ₹3,270.00 crores demonstrates the company's significant financial commitment to this project. This substantial investment reflects the strategic importance of establishing a luxury hotel presence in New Delhi's hospitality landscape.

The land allotment positions ITC Hotels to capitalize on the growing demand for premium hospitality services in the national capital, with the 5-star hotel development expected to enhance the company's portfolio in this key market segment.