Please find enclosed the transcript of the Earnings Call of The Indian Hotels Company Limited for the quarter ended June 30, 2026 held on July 21 , 2026.

July 27, 2026 The Secretary, Listing Department The Manager, Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, 5th Floor, Plot No. C/1, Dalal Street Bandra Kurla Complex, Bandra (E) Mumbai – 400 001 Mumbai 400 051 Scrip Code: 500850 Scrip Code: INDHOTEL Sub: Transcript of the IHCL Global Conference Call (Earnings Call) for the quarter ended June 30, 2026 Dear Madam, Sir, Pursuant to Regulation 30 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the transcript of the IHCL Global Conference Call (Earnings Call) for the quarter ended June 30, 2026 held on July 21, 2026. The above information is also being made available on the website of the Company at https://ir.ihcltata.com/media/acgfnyjs/ihcl-q1fy27-earnings-analyst-call-transcripts.pdf This is for your information and records. Yours Sincerely, For The Indian Hotels Company Limited Melisa Alva Senior Vice President & Company Secretary Mem No: A34774 Place: Mumbai “The Indian Hotels Company Limited Earnings Conference Call” July 21, 2026 MANAGEMENT: MR. PUNEET CHHATWAL – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – INDIAN HOTELS COMPANY LIMITED MR. ANKUR DALWANI – EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER – INDIAN HOTELS COMPANY LIMITED Page 1 of 18 The Indian Hotels Company Limited July 21, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Indian Hotels Company Limited Earnings Conference Call for the quarter ended 30th June 2026. On the call, we have with us Mr. Puneet Chhatwal, Managing Director and CEO, IHCL and Mr. Ankur Dalwani, EVP and CFO, IHCL. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star and then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Puneet Chhatwal. Thank you and over to you Mr. Chhatwal. Puneet Chhatwal: Good evening, everyone and thank you for joining our global conference call for Q1 '26-27. We are pleased to inform you that we have continued our record performance for the 17th consecutive quarter, driven by sustained growth and strategic execution despite multiple macro headwinds. I will now outline the 10 key highlights of the quarter. Number one, Taj rated again India's strongest brand across all sectors. We are extremely delighted to inform you all that Taj has once again been recognized as India's strongest brand across sectors for the fifth time consecutively by independent brand valuation consultancy Brand Finance. Taj has truly positioned itself as a crown jewel of India, and it continues to fly the flag high for Indian hospitality on the global stage. We are very grateful to our loyal patrons and dedicated colleagues who have played an integral role in making Taj the epitome of hospitality and luxury. Taj also gained 38% in brand value as per Brand Finance, reaching a number close to $900 million. Number two, the key performance highlights of Q1. Our consolidated revenue grew 15% year-on-year to INR2,419 crores. EBITDA grew 18% year- on-year to INR753 crores, yielding EBITDA margin of 31.1%. Our bottom line grew by 21%, that is our PAT to INR358 crores. Hotel segment revenue and domestic RevPAR grew at 17% and 14%, respectively. It's a very important number because the hotel segment revenue obviously not only accounts for almost 90% of our business or 87% of our business, but this also demonstrates the solidity of the business fundamentals on both operating revenue as well as our core business. These revenue figures and increases had the backing of the strength of our brandscape, diversified portfolio, but more importantly, disciplined revenue management. On the stand-alone basis, we continue to deliver strong performance with revenues growing 18% year-on-year to INR1,298 crores and EBITDA growing by 30% to INR542 crores, yielding an EBITDA margin of 41.8%. Our performance is not defined by a single year but sustained execution over time. Over the past 4 years, we have 4 years and 1 quarter actually now. So that comes to 17 quarters. We have delivered double-digit CAGR across revenue, EBITDA, PAT and RevPAR, Page 2 of 18 The Indian Hotels Company Limited July 21, 2026 underscoring the consistency of our performance and the structural strength of our business model. Building on this strong foundation and sustained momentum, we remain confident of delivering double-digit growth in the year ahead. And definitely, the way Q2 has started, it makes us optimistic about doing similar or even better performance on the top line in this quarter. Number three, RevPAR growth across all brands on the back of strong domestic demand. The Indian hospitality sector witnessed multiple macro headwinds during the quarter. Geopolitical tensions in West Asia resulted in elevated fuel prices, leading to reductions in airline capacity and higher airfares. All this together moderated travel demand, particularly in certain international and long-haul corridors. This is also evident with the performance of TajSATS versus the hotel segment. Despite these challenges, however, domestic demand remained resilient. We delivered double- digit RevPAR growth across all our brands, demonstrating the resilience of our business model and the strength of our market positioning. Our continuous focus on operating efficiencies enabled us to sustain hotel segment margins at 32.6%. This was achieved despite an additional impact of approximately INR15 crores relating to the ramp-up of our new asset in Frankfurt, which obviously includes preopening costs also and commissioning of the new TajSATS kitchen in Noida outside of Delhi or Delhi-NCR. Number four, asset management continues to drive growth for us. Our asset management strategy continues to be a key driver and value creator. During the last financial year, we completed major upgrades across several marquee hotels, including Taj Palace New Delhi, the President in Mumbai, the Taj West End in Bengaluru and Taj Fort Aguada in Goa with over 300 rooms renovated. These investments are now translating into stronger pricing power and improved operating performance across key markets. Given that a significant part of these renovations were undertaken in the first half of last year, we expect this momentum to continue in Q2. Another good example is Taj Ganges in Banaras, where the new 100-room wing commissioned in March 2026 turned PBT positive in its very first quarter of operations. The expansion helped drive a 44% year-on-year growth in revenue while delivering an EBITDA margin of 40% in Q1. This underscores our ability to deploy capital in a disciplined manner, unlock value from our existing assets and generate strong returns with a relatively short payback period. Moving on to number five is our portfolio growth. We continue to deliver industry-leading portfolio expansion with 20 hotels signed and 11 hotels opened in Q1 of this year. Notably, 17 of the 20 signings were under Gateway, Ginger and Tree of Life brands across new and emerging markets. This reflects our continuous focus on deepening our presence in high-growth markets through an asset-light expansion strategy. With 382 operational hotels and almost 265 hotels in the Page 3 of 18 The Indian Hotels Company Limited July 21, 2026 pipeline, our portfolio is now approaching the milestone of 650 hotels. As we stand today, we are at a 645 figure and we remain confident of crossing this milestone during the current month itself. Number six, management fee growth backed by new openings momentum. Our asset-light growth continues to translate into strong growth in management fees. During the quarter, management fee income grew by 26% to INR168 crores from [Showing first 8,000 characters — download PDF for full document]