EIH Ltd(EIHOTEL)

NSE: EIHOTELBSE: 500840

₹ 290.25-1.71%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 18,151 crWebsite: www.eihltd.comUpdated: 24 Oct 2026

About

EIH Limited operates luxury and upper-upscale hotels in India and internationally under The Oberoi and Trident brands, alongside a flight catering business (OFS). It reported revenue of Rs 2,939.63 crore in FY26. EIH consistently outperforms its STR competition sets, with 13 of 15 benchmarked hotels ranked first or second in their competitive peer groups.^[1][2]

Business segments

Hotels is reported as the single reportable segment, with revenue from operations of Rs 2,743.15 crore in FY25.^[3]
Hotel operations run under two brands: The Oberoi (luxury) and Trident (upper upscale), competing in distinct segments of the India hospitality market.^[4]
OFS (Oberoi Flight Services), the flight kitchen and airline catering business, recorded Q1 FY27 revenue of Rs 154 cr, driven by new domestic airline routes and more international direct flights into India.^[4]
EIH launched its first luxury residence product at Naila Fort, Jaipur (4 bedrooms, whole-property rental at Rs 12 lakh per booking), a new category beyond hotels and catering.^[5]

Key operating numbers

Oberoi brand RevPAR was Rs 9,965 in Q1 FY27 (+8.2% YoY); excluding the new Rajgarh hotel still ramping up, growth was 11.4% vs the luxury segment's 13.2%.^[4]
Trident brand RevPAR was Rs 6,484 in Q1 FY27 (+13.8% YoY), against 9.2% growth for the upper upscale industry segment.^[4]
All-hotels RevPAR (owned and managed) was Rs 12,801 in Q1 FY27 vs Rs 11,352 in Q1 FY26; owned-hotels RevPAR was Rs 14,972 vs Rs 13,082.^[4]
Revenue Generation Index across all domestic hotels including managed was 125% in Q1 FY27, up from 121% in Q1 FY26.^[4]
Full-year FY26 RevPAR was Rs 22,004 for the Oberoi brand (+10.4% YoY) and Rs 11,716 for the Trident brand (+10.2% YoY).^[2]
13 of 15 EIH hotels ranked 1st or 2nd in their STR competition sets as of Q4 FY26 (7 ranked 1st, 6 ranked 2nd).^[2]

Hotels and operations

Trident Nariman Point (585 keys) and Trident BKC (439 keys) in Mumbai were named as strong performers on both occupancy and ARR in Q1 FY27.^[4]
Oberoi Rajgarh Palace (66 keys, held on long-term lease) opened on November 16, 2025 and is expected to take about 3 years from opening to fully stabilise.^[6]
Al Zorah stopped being a managed property from 1 June 2025.^[3]
Oberoi Airport Lounge Mumbai was closed before FY26; OFS flight kitchen revenue more than replaced the lounge revenue, but at lower EBITDA margins (the lounge margin had been just over 50%).^[5]

Expansion pipeline

Total development pipeline as of Q4 FY26: 31 properties (7 owned, 24 managed) with 2,718 keys (825 owned, 1,893 managed), opening through 2030.^[2]
Hebbal (Bangalore) is the flagship owned project: Oberoi (120 keys), Trident (300 keys) and ~7.63 lakh sq ft of commercial, retail and F&B space within a 1.3 mn sq ft mixed-use development, targeted for 2030.^[4]
Other owned projects: Trident Visakhapatnam (150 keys, 2027), The Oberoi Goa Cavelossim (90 keys, 2028), The Oberoi London (21 keys, 2028), Trident Tirupati (124 keys, 2029), The Oberoi Gandikota (20 keys, 2030).^[2]
London Mayfair hotel: investment of up to GBP 69 million through subsidiary EIH London Investments, per the FY25 annual report.^[3]
Managed pipeline of 24 properties and 1,893 keys: 3 opening in 2026, 3 in 2028, 7 in 2029, 9 in 2030 and 2 with no date yet; includes Oberoi Kabini, Hampi, Coorg and a Cairo hotel, all signed in Q3 FY26.^[2]
Two Rishikesh resorts are being added in partnership with the Laldhani Group.^[3]
Leasehold-to-freehold conversion of the Nariman Point land, at an estimated cost of Rs 366.89 crore (FY25 annual report).^[3]
Average annual capex is guided at Rs 400 - 500 cr, driven by the Goa expansion and the start of the Hebbal project.^[6]

Renovation programme

South Bombay hotel: a 4-floor, 120-key renovation completes in September 2026, one month early. One more floor at Oberoi Mumbai, 18 rooms at Oberoi Bangalore and 57 rooms at Trident BKC are due to finish before October 2026.^[4]
Oberoi Grand Kolkata (197 keys), under renovation since 15 August 2024: full reopening is now targeted for September 2028, later than the earlier mid-to-late 2027 target, because of structural and fire-safety work and a ~2-month halt after a fatal accident.^[4][3]

Recent developments

On October 1, 2026, EIH disclosed an Income-tax Department penalty order of Rs 92.56 lakh related to transfer pricing and a disallowance under Section 40(a)(i).^[7]
EIH took part in the Wildflower Hall (Mashobra) qualifying bid by September 10, 2026, ahead of a live auction; the outcome was still pending at the Q1 FY27 call.^[4]
The Mashobra settlement brought a one-time cash receipt of Rs 115 cr in Q3 FY26.^[5]

Market Cap

₹18,151 Cr

High / Low

₹405 / 271

Stock P/E

25.5

Price / Book

3.5

Book Value

₹84

EPS

₹10.1

No. of Shares

62.54 Cr

ROCE

20.5%

ROE

12.7%

OPM

33.7%

Debt / Equity

0.00

Sales

₹2,940 Cr

Net Profit

₹657 Cr

Promoter holding

32.9%

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