Jefferies continues to be upbeat on Indian Hotels Company Ltd (IHCL), maintaining a ‘Buy’ rating with a target price of ₹980, as it lauds the company’s multi-year transformation and scale-up strategy.
The brokerage said IHCL’s management remains focused on diversifying topline, in a move to hedge against cyclical downturns in the hospitality sector. It sees India’s hospitality cycle remaining in a strong demand-supply (dd-ss) uptrend, which should continue supporting growth in the coming quarters.
IHCL reiterated its FY30 ambitions of doubling its portfolio and consolidated revenues, growing its reimagined businesses, and achieving a 75% asset-light mix, all of which Jefferies views as structurally positive. For FY26, the company expects double-digit revenue growth, reaffirming its confidence in both business performance and sectoral momentum.