Annual Report 2025-26

31st ANNUAL REPORT 2025-26 Annual Report - 2025-26 | 1 2 | TAJ GVK Hotels & Resorts Limited Annual Report - 2025-26 | 3 4 | TAJ GVK Hotels & Resorts Limited Note from the Managing Director Dear Shareholders, This financial year marked a period of new beginning for TAJ GVK Hotels & Resorts Limited, reflecting the strength of our portfolio hotels, the resilience of the hospitality sector and the commitment of our people. During the year under review the Promoter group shareholding has seen a change , where in Indian Hotels Company Limited ( IHCL) has sold its entire 25.52% equity share capital held in the company to GVK group shareholders i.e. Promoter Group. This resulted in the termination of Joint venture agreement between GVK Shareholders and IHCL which started in the year 1999-2000 with 2 hotels. Subsequent to the change in the shareholding pattern, IHCL shall continue to operate all the hotels in the company’s portfolio and the company has signed the new Hotel Management Agreements with IHCL. Standalone Financial Results: Supported by sustained demand across leisure, business and social travel segments, the Company delivered a strong performance during the year. The Indian hospitality industry continued its growth momentum, driven by increasing domestic travel, a steady revival in inbound tourism and robust demand for premium hospitality experiences. The company has leveraged the strength of its iconic properties and IHCL as the Operator of the hotels, to enhance guest experiences, strengthen market positioning and deliver sustained business growth. For FY 2025–26, the Company achieved its highest-ever annual revenue of INR 502.52 Crores, representing strong year-on-year growth. EBITDA increased to INR 175.31 Crores, while Profit After Tax stood at INR 116.97 Crores as against INR 94.85 Crores in the previous year, reflecting a 23% growth in the PAT. The company witnessed the benefits of sustained revenue growth, improved operating leverage and disciplined cost management execution across the portfolio. The year was also marked by an 26% growth in RevPAR, underscoring the continued strength of our hotels and brands in a favourable demand environment. Performance of Subsidiary Company; We are happy to inform that during the year under review, the company has bought additional 2.01% equity stake in the JV company i.e. Green Woods Palaces and Resorts Private Limited, which operates the Taj Santacruz hotel at Mumbai Airport, which resulted in Green Woods becoming the Subsidiary company of TAJ GVK Hotels & Resorts Limited. The subsidiary company reported the highest ever topline of INR 236.51 Crores as against of INR 231.83 Crores in the previous year and reported PAT of Rs. 49.04 Crores. The subsidiary company also declared a dividend of Rs.6/- per equity share of Rs. 10/- each fully paid up , subject to the approval of the subsidiary company shareholders in the ensuing Annual General Meeting. Consolidated Financial Results: We are happy to report that the company reported the consolidated Proft After Tax of INR 410.26 Crores as against INR 117.19 Crores in the previous year. Dividend: The company is happy to declare a dividend of 100% i.e. Rs. 2.00/- per share of fully paid-up equity share of Rs.2.00/- each for the financial year 2025-26 subject to the approval of the members at the ensuing annual general meeting. Renovation / Refurbishment: During the year, the company completed renovation/ refurbishment of 24 rooms and public areas in Taj Deccan and completed the major asset enhancement initiatives of New Gym and SPA at Taj Krishna. We the planned renovation/ refurbishment, we are reinforcing our commitment to delivering world-class hospitality experiences. These investments have enhanced guest experiences, strengthened our competitive positioning and together with sustained domestic demand, provide a strong foundation for future growth. Technology continued to play an important role in strengthening our operational capabilities and enhancing the guest experience. Annual Report - 2025-26 | 5 As part of the broader IHCL i.e. Operator ecosystem, our hotels continued to leverage advanced digital platforms, integrated business systems and data-driven insights to improve operational efficiency, support informed decision-making and deliver seamless guest experiences. Sustainability remains integral to our business philosophy and the company adopted the IHCL’s Paathya framework and continued to advance initiatives focused on environmental stewardship, responsible operations and community engagement. I would also like to thank our shareholders, guests, business partners, lenders and all other stakeholders for their continued confidence and support. My sincere appreciation goes to the Board of Directors for their guidance and stewardship. As we look to the future, we remain confident in the long-term growth potential of the Indian hospitality sector. While uncertainties arising from global economic conditions and geopolitical developments, including those in West Asia, warrant continued vigilance, the underlying demand drivers for the Indian hospitality market remain strong. we are well positioned to pursue sustainable growth and create enduring value for our stakeholders. I thank you for your continued trust and support. With Regards, Shalini Bhupal Managing Director & CEO 6 | TAJ GVK Hotels & Resorts Limited Board of Directors Dr. GVK Reddy G Indira Krishna Reddy Shalini Bhupal Non-Executive Chairman Vice Chairperson Managing Director & CEO Krishna Ram Bhupal Dia Mehta Bhupal Anoop Vrajlal Mehta N Sandeep Reddy Joint Managing Director Non-Executive Director Non-Executive Director Independent Director N Anil Kumar Reddy L V Subrahmanyam Dinaz Noria Independent Director Independent Director Independent Director N Ramesh Kumar J Krishna Kishore N Sambasiva Rao Independent Director Independent Director Independent Director Annual Report - 2025-26 | 7 Corporate Information Board of Directors (As on 31.07.2026) Dr. GVK Reddy : Non-Executive Chairman Mrs. G Indira Krishna Reddy : Vice Chairperson Mrs. Shalini Bhupal : Managing Director & CEO Mr. Krishna Ram Bhupal : Joint Managing Director Mr. Anoop Vrajlal Mehta : Non-Executive & Non-Independent Director Mrs. Dia Mehta Bhupal : Additional Director (w.e.f. 31.07.2026) Non-Executive & Non-Independent Director Mr. N Anil Kumar Reddy : Independent Director Mr. N Sandeep Reddy : Independent Director Mr. L V Subrahmanyam : Independent Director Mr. N Ramesh Kumar : Independent Director Mrs. Dinaz Noria : Independent Director Mr. N Sambasiva Rao : Independent Director Mr. J Krishna Kishore : Independent Director Mr. J Srinivasa Murthy : CFO & Company Secretary Board Committees Audit Committee Mr. N Anil Kumar Reddy : Chairman Mrs. G Indira Krishna Reddy : Member Mr. N Sandeep Reddy : Member Mr. L V Subrahmanyam : Member Mr. N Ramesh Kumar : Member Mr. J Krishna Kishore : Member Nomination and Remuneration Committee Mr. N Anil Kumar Reddy : Chairman Mr. N Ramesh Kumar : Member Mr. L V Subrahmanyam : Member Mr. N Sambasiva Rao : Member Mr. J Krishna Kishore : Member Corporate Social Responsibility Committee Mr. N Anil Kumar Reddy : Chairman Mr. L V Subrahmanyam : Member Mr. N Ramesh Kumar : Member Stakeholders Relationship Committee Mr. N Anil Kumar Reddy : Chairman Mr. L V Subrahmanyam : Member Mrs. Shalini Bhupal : Member Mrs. Dinaz Noria : Member Risk Management Committee Mr. N Anil Kumar Reddy : Chairman Mrs. G Indira Krishna Reddy : Member Mrs. Shalini Bhupal : Member 8 | TAJ GVK Hotels & Resorts Limited Company Bankers : Federal Bank Limited Stock Exchanges where : Bombay Stock Exchange Ltd. (Scrip Code:532390) Company’s Securities National Stock Exchange of India Ltd. (Scrip Code:TAJGVK) are listed Registered Office : TAJ GVK Hotels & Resorts Limited (CIN: L40109TG1995PLC019349) Taj Krishna, Road No.1, Banjara Hills, Hyderabad – 500 034. Ph No.040-66293664, Fax: 040-66625364 E-mail:tajgvkshares.hyd@tajh [Showing first 8,000 characters — download PDF for full document]