Benares Hotels Limited has appointed Mr. Sumit Singh Deol as Chief Executive Officer (CEO), designating him as Key Managerial Personnel (KMP) of the company effective February 24, 2026. The appointment was approved by the Board of Directors during their meeting held on February 24, 2026, based on recommendations from the Nomination and Remuneration Committee.

Board Meeting and Regulatory Compliance

The board meeting commenced at 02:15 pm and concluded at 02:40 pm on February 24, 2026. The appointment was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with the company providing detailed disclosures as required under the regulatory framework.

The company has communicated this appointment to BSE Limited under scrip code 509438, fulfilling its disclosure obligations as a listed entity.

New CEO Profile and Experience

Mr. Deol brings substantial experience in hospitality management to his new role. He joined IHCL in 2010 as a Restaurant Manager in Taj Coromandel, Chennai, and has since developed extensive expertise in Food & Beverage operations and General Management.

Professional Achievements

Throughout his career with the organization, Mr. Deol has demonstrated strong leadership capabilities by successfully managing teams at multiple prestigious properties. His experience includes leadership roles at Taj Taal Kutir and management positions at Taj Coromandel, Chennai. He has extensive experience in Food & Beverage operations, a proven track record in General Management, and has been recognized through various industry awards and laurels.

Company Information

Benares Hotels Limited operates with its registered office located at Taj Ganges, Nadesar Palace Compound, Varanasi, and maintains its corporate office at Taj Palace, Sardar Patel Marg, New Delhi. The company is incorporated under CIN: L55101UP1971PLC003480 and trades on BSE under scrip code 509438. The appointment represents a strategic leadership decision as the company continues its operations in the hospitality sector.

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.

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.

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.