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Taj GVK Hotels & Resorts Limited (TAJGVK)

₹324.15 +0.43% last close, 16 Oct

📊 NSE: TAJGVK 🏢 Hotels 📢 Latest filing: 10 Sep 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q4 FY26)

In its latest reported quarter, Q4 FY26, Taj GVK's revenue was ₹159 Cr (+27.2% year on year, +16.6% on the previous quarter), and net profit ₹320 Cr (+814.3% year on year); the operating margin was 29.6%.

Q4 FY26 (₹ Cr)	Value	YoY vs Q4 FY25	QoQ
Revenue	₹159	+27.2%	+16.6%
Operating profit	₹47.0	+42.4%	+11.4%
Net profit	₹320	+814.3%	+765.1%
EPS (₹)	51.00	+818.9%	+764.4%
Operating margin	29.6%	—	—

Full quarterly financials → Results calendar →

TAJGVK delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 52.02% of the TAJGVK shares traded on NSE were taken to delivery, against the stock's own 20-session average of 50.03%. That is close to its usual level.

52.02%Delivery, 16 Oct

50.03%Own 20-session average

0.7×Volume vs its average

₹324.15NSE close · +0.43%

Delivery in the last 5 sessions: 61.2% · 56.1% · 45.5% · 37.7% · 52.0%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

TAJGVK Shareholders Approve Name Change to 'KRISHNA GVK LUXURY HOTELS LIMITED'

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 10 Sep 2026, 01:14 PM

Shareholders of Taj GVK Hotels & Resorts Limited have approved a special resolution to change the company's name to 'KRISHNA GVK LUXURY HOTELS LIMITED' at the 31st Annual General Meeting held on September 9, 2026. This follows an earlier board/company proposal intimated on August 5, 2026. The name change is administrative and does not alter the underlying business operations or financial fundamentals of the Rs 2,086 Cr market cap company.

Shareholders approved the name change at the 31st AGM held on 09.09.2026
Special Resolution passed to rename the company to 'KRISHNA GVK LUXURY HOTELS LIMITED'
Proposal follows earlier regulatory intimation submitted on 5th August, 2026
The corporate change represents a corporate rebranding without reported structural changes to hotel assets

💡 Track subsequent regulatory filings for the receipt of the Certificate of Incorporation from the Registrar of Companies (RoC) and subsequent ticker/name update on exchanges.

TAJGVK Concludes 31st AGM; All Resolutions Passed With Requisite Majority

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 09 Sep 2026, 05:03 PM

Taj GVK Hotels & Resorts Limited concluded its 31st Annual General Meeting held on September 9, 2026, via video conferencing. A total of 72 members attended the meeting, where all agenda items including dividend declaration for FY26 and the reappointment of Mr. Anoop Vrajlal Mehta were approved by shareholders. The Chairman also briefed shareholders on hospitality industry trends and updated on the ongoing Bengaluru Yelahanka hotel project.

31st Annual General Meeting concluded on September 9, 2026, after a 50-minute session
72 members attended the meeting via video conferencing
All resolutions, including FY26 dividend approval, passed with requisite majority
Chairman provided operational updates including progress on the Bengaluru Yelahanka project

💡 Track the commercial launch and execution timelines of the upcoming Yelahanka, Bengaluru property as well as the dispatch/payment date for the approved FY26 dividend.

Board Approves IHCL's Request for Reclassification from Promoter to Public Category

🟡 NEUTRAL ⭐ 5/10

REGULATORY 📅 18 Aug 2026, 05:13 PM

Taj GVK Hotels & Resorts has received and approved a request from The Indian Hotels Company Limited (IHCL) seeking reclassification from the 'Promoter and Promoter Group' to the 'Public' category under Regulation 31A of SEBI LODR. This formal step follows IHCL's sale of 1,60,00,400 equity shares (25.52% of paid-up equity capital) via an off-market transfer on December 30, 2025. IHCL confirms it currently holds zero equity shares in the company.

IHCL requested reclassification from Promoter to Public category via letter dated July 29, 2026
Board of Directors approved the reclassification request at its meeting on July 31, 2026
IHCL previously sold 1,60,00,400 equity shares, representing 25.52% equity stake, on December 30, 2025
IHCL now holds 0 shares (0.00%) in Taj GVK Hotels & Resorts Limited

💡 Track shareholder and stock exchange approval timelines for the finalization of the promoter reclassification under Regulation 31A.

IHCL seeks reclassification to Public category after exiting entire 25.52% stake in TAJGVK

🟡 NEUTRAL ⭐ 5/10

REGULATORY 📅 18 Aug 2026, 05:11 PM

Taj GVK Hotels & Resorts Limited announced that The Indian Hotels Company Limited (IHCL) has requested reclassification from 'Promoter and Promoter Group' to the 'Public' category under Regulation 31A of SEBI LODR. This follows IHCL's earlier off-market sale of 1,60,00,400 equity shares (25.52% stake) on December 30, 2025, leaving IHCL with zero equity holdings in the company. The Board of Directors approved the reclassification request at its meeting held on July 31, 2026, and will proceed with necessary regulatory steps.

IHCL requested reclassification from Promoter Group to Public category via letter dated July 29, 2026
IHCL previously sold 1,60,00,400 equity shares (25.52% of paid-up capital) on December 30, 2025
TAJGVK confirmed IHCL no longer holds any equity shares in the company
Board of Directors approved the reclassification request on July 31, 2026

💡 Track the regulatory progress of the reclassification through stock exchange and shareholder approvals, and monitor any potential updates regarding ongoing hotel operating/brand agreements with IHCL.

TAJGVK to hold 31st Annual General Meeting on September 9, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 14 Aug 2026, 03:41 PM

Taj GVK Hotels & Resorts Limited has scheduled its 31st Annual General Meeting (AGM) for September 9, 2026, at 11:00 a.m. IST via video conferencing. The company has completed the dispatch of the Annual Report for FY 2025-26, which details a total revenue of ₹508.75 Cr and a PAT of ₹421.21 Cr. This is a procedural filing following SEBI regulations regarding newspaper advertisements and shareholder communications. Investors should look to the Annual Report for updates on the ₹250 Cr Bengaluru expansion project.

31st Annual General Meeting scheduled for September 9, 2026, at 11:00 a.m. IST
Newspaper advertisements published in Business Standard and Andhra Prabha on August 15, 2026
Dispatch of Annual Report for the financial year 2025-26 completed
E-voting details and record dates for the AGM have been finalized and communicated

💡 Investors should review the FY26 Annual Report for management's commentary on the execution timeline of the ₹250 Cr Bengaluru property, which is intended to reduce geographic concentration.

TAJGVK Releases FY26 Sustainability Report; 66% Inputs Sourced from Local/MSME Suppliers

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 13 Aug 2026, 04:41 PM

TAJGVK has submitted its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26, a mandatory regulatory filing. The report highlights that 66% of input materials are now sourced from local or MSME suppliers, up from 51% in the previous year. Operationally, the company maintains 5 locations, with room revenue contributing 52% and F&B/Banquets contributing 30% to the total turnover. Employee turnover remains a point of observation, recorded at 24% for males and 31% for females during the fiscal year.

Local and MSME sourcing increased to 66% of total inputs in FY 2025-26, compared to 51% in FY 2024-25
Room services (NIC 551001) and F&B/Banquets (NIC 561001/562100) contribute 52% and 30% of total turnover respectively
Employee turnover rate stands at 24% for males and 31% for females for the permanent employee category
Female representation in leadership (Board/KMP) is at 25%, with 3 women out of 12 members
Company reported 22 consumer complaints during the year, with 21 resolved and 1 pending at year-end

💡 Investors should treat this as a routine disclosure. The primary focus remains on the execution of the Rs 250 Cr Bengaluru expansion mentioned in previous strategy updates, as the current footprint remains concentrated in 5 locations.

‡2 Dividend: TAJGVK Sets September 1, 2026, as Record Date

🟡 NEUTRAL ⭐ 5/10

DIVIDEND 📅 13 Aug 2026, 04:30 PM

TAJGVK has fixed September 1, 2026, as the record date for a recommended dividend of ‡2 per equity share for FY 2025-26. This represents a 100% payout on the face value of ‡2 per share. The dividend is subject to shareholder approval at the 31st Annual General Meeting (AGM) scheduled for September 9, 2026. Based on the current market price of ‡352.1, the dividend yield stands at approximately 0.57%.

Dividend of ‡2 per equity share recommended for the financial year ended March 31, 2026
Record date for dividend eligibility and E-voting fixed as September 1, 2026
31st Annual General Meeting (AGM) scheduled to be held on September 9, 2026
Dividend payment to be processed within 5 days from the date of the AGM

💡 Investors seeking the dividend must hold the shares before the ex-dividend date (typically one business day prior to the record date). Monitor the upcoming AGM for management commentary on the ‡250 Cr Bengaluru expansion progress.

TAJGVK Proposes Name Change to Krishna GVK Luxury Hotels Limited; AGM Set for Sept 9

🟡 NEUTRAL ⭐ 4/10

OTHER 📅 13 Aug 2026, 04:27 PM

Taj GVK Hotels & Resorts Limited has convened its 31st Annual General Meeting (AGM) for September 9, 2026. A key agenda item is a special resolution to change the company's name to 'Krishna GVK Luxury Hotels Limited,' which will involve altering the Memorandum and Articles of Association. This comes as the company manages a TTM revenue of Rs 509 Cr and is executing a Rs 250 Cr expansion in Bengaluru. Shareholders can participate in e-voting from September 6 to September 8, 2026.

31st Annual General Meeting scheduled for September 9, 2026, at 11:00 AM IST
Proposed name change to 'Krishna GVK Luxury Hotels Limited' via special resolution
Remote e-voting window opens September 6 (9:00 AM) and closes September 8, 2026 (5:00 PM)
Cut-off date for determining shareholder voting eligibility is September 1, 2026
Company is currently undertaking a Rs 250 Cr expansion into the Bengaluru market

💡 Investors should monitor the AGM voting results for the name change approval and look for management commentary regarding the status of the Yelahanka, Bengaluru project and the ongoing partnership with IHCL (Taj).

Taj GVK to Rebrand as Krishna GVK Luxury Hotels Limited Following ROC Approval

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 05 Aug 2026, 01:41 PM

Taj GVK Hotels & Resorts Limited has received approval from the Registrar of Companies (ROC) to change its name to 'KRISHNA GVK LUXURY HOTELS LIMITED'. The name approval letter was issued on August 5, 2026, following the company's application. The proposed change is now subject to shareholder approval at the upcoming Annual General Meeting (AGM). This administrative rebranding does not currently alter the company's financial standing or its operational partnership with IHCL (Taj).

ROC approved the name 'KRISHNA GVK LUXURY HOTELS LIMITED' on August 5, 2026
Shareholder approval for the name change is scheduled for the AGM on September 9, 2026
The company maintains a market capitalization of Rs 2,317 Cr and TTM revenue of Rs 509 Cr
The change follows an initial proposal intimation dated July 31, 2026

💡 Investors should monitor the outcome of the AGM on September 9, 2026, and watch for any disclosures regarding potential changes to the brand licensing agreement with IHCL (Taj brand).

TAJGVK Board Approves Name Change to 'Krishna GVK' Following Brand Restructuring

🔵 WATCH ⭐ 7/10

BOARD_MEETING 📅 31 Jul 2026, 04:33 PM

The Board of Taj GVK Hotels & Resorts has approved a proposal to change the company's name to 'Krishna GVK Hotels & Resorts Limited' as of July 31, 2026. This move follows a strategic restructuring and the termination of existing brand and shareholder arrangements, likely signaling a shift away from the 'Taj' brand partnership with IHCL. While the company maintains its 1,362-room inventory and reported TTM revenue of Rs 509 Cr, the rebranding is a significant event for a premium hospitality player. The change is subject to approvals from the Ministry of Corporate Affairs, stock exchanges, and shareholders.

Board approved name change from 'Taj GVK Hotels & Resorts Limited' to 'Krishna GVK Hotels & Resorts Limited' on July 31, 2026.
The rebranding follows the termination of existing brand and shareholder arrangements with the 'Taj' brand.
Company manages a total inventory of 1,362 rooms across its portfolio.
Reported TTM Revenue of Rs 509 Cr with a high operating margin of 30.5%.
The name change will not affect the legal status, assets, or liabilities of the company.

💡 Monitor the impact of the 'Taj' brand exit on Average Daily Rates (ADR) and occupancy, as the company loses access to IHCL's global distribution network and loyalty programs. Watch for the upcoming shareholder vote and details on the new branding strategy.

256-Key Taj Yelahanka to Open Sept 2026; TAJGVK Targets 4,000 Keys

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 31 Jul 2026, 03:12 PM

TAJGVK is nearing the launch of its 256-key Taj Yelahanka property in Bengaluru, with operations scheduled to begin by September 2026. The company has secured the Occupancy Certificate and environmental clearances, marking a significant step in reducing its 52% inventory concentration in Hyderabad. While Q1 FY27 revenue of ₹109.42 cr was lower than the previous year's ₹128.29 cr (due to a one-off dividend in the base period), the company remains net debt-free. Management has outlined a long-term ambition to scale total inventory from the current ~1,500 keys to ~4,000 keys.

Taj Yelahanka (256 keys) confirmed to begin operations by September 2026.
Stated long-term ambition to scale room inventory from ~1,500 keys to ~4,000 keys.
Occupancy Certificate (OC) and Consent for Operations already received for the Bengaluru project.
Q1 FY27 EBITDA margin stood at 28%, impacted by higher energy costs and property taxes.
Maintained healthy occupancy of 82% in Q1 FY27, slightly up from 81% in the previous year.

💡 Monitor the operational launch and initial Average Daily Rate (ADR) of the Bengaluru property in September 2026, as this will be the primary driver for FY27-28 growth. Watch for specific project announcements regarding the roadmap to reach the 4,000-key target.

TajGVK Q1 PAT up 51% to ₹31.66 Cr; 256-key Bengaluru hotel nearing launch

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 31 Jul 2026, 03:00 PM

TAJGVK reported a consolidated PAT of ₹31.66 Cr for Q1 FY27, a 51.5% increase from ₹20.89 Cr in the same quarter last year, though figures are not directly comparable due to the full consolidation of its subsidiary, Greenwoods Palaces and Resorts. Consolidated revenue grew 53.7% YoY to ₹166.11 Cr. A major milestone is the upcoming launch of the 256-key Taj Yelahanka in Bengaluru, which has received its Occupancy Certificate and is expected to start operations shortly. The company is also refurbishing 98 rooms across its Hyderabad and Chandigarh properties to maintain premium positioning.

Consolidated Revenue increased 53.7% to ₹166.11 Cr in Q1 FY27 from ₹108.08 Cr in Q1 FY26
Consolidated PAT rose 51.5% to ₹31.66 Cr, though accounting changes for the Mumbai subsidiary affect comparability
The new 256-key Taj Yelahanka project in Bengaluru has received its Occupancy Certificate (OC) and is nearing commercial launch
Subsidiary Greenwoods (Taj Santacruz) reported a standalone PAT of ₹12.97 Cr on revenue of ₹56.69 Cr
Renovation of 98 rooms is underway at Taj Deccan (24) and Taj Chandigarh (74) to sustain premium Average Daily Rates

💡 Monitor the official commercial launch date of the Taj Yelahanka property, as it represents a ~19% capacity addition to the existing 1,362-room inventory. Watch for the impact of full consolidation on margins and the reduction of geographic concentration risk in Hyderabad.

Sep 2, 2026 set as Record Date for Taj GVK Dividend; AGM on Sep 9

🟡 NEUTRAL ⭐ 5/10

DIVIDEND 📅 31 Jul 2026, 02:31 PM

Taj GVK Hotels & Resorts has fixed September 2, 2026, as the record date for determining shareholder eligibility for the FY26 dividend. The company's 31st Annual General Meeting (AGM) is scheduled for September 9, 2026, via video conferencing. This follows a strong FY26 performance where the company reported a PAT of Rs 421.21 Cr, significantly boosted by a high Mar 2026 quarter profit of Rs 320 Cr. The board also approved the unaudited financial results for the first quarter ended June 30, 2026.

Record date for dividend entitlement fixed as September 2, 2026.
31st Annual General Meeting (AGM) scheduled for September 9, 2026.
Board approved unaudited standalone and consolidated results for Q1 ended June 30, 2026.
Company reported a TTM PAT of Rs 421.21 Cr against a market cap of Rs 2266 Cr.
Board meeting concluded at 1:15 P.M. on July 31, 2026.

💡 Investors should monitor the specific dividend amount per share (if not already known) and ensure shares are in their demat account by the record date of September 2, 2026, to be eligible.

TAJGVK Submits Routine Share Dematerialization Certificate for Q1 FY27

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 06 Jul 2026, 05:28 PM

Taj GVK Hotels & Resorts Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The filing confirms that the company's Registrar and Share Transfer Agent (RTA) processed all physical share dematerialization requests for the quarter ended June 30, 2026. The RTA verified, mutilated, and cancelled the certificates, updating the records of NSDL and CDSL within the mandated 15-day period. This is a standard administrative procedure with no impact on business operations or financial health.

Compliance certificate issued for the quarter ended June 30, 2026
Dematerialization requests processed and records updated within 15 days of receipt
Confirmation provided by RTA, Venture Capital and Corporate Investments Private Limited
Verification covers both National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL)

💡 No action is required as this is a routine regulatory filing. Investors should monitor the upcoming Q1 FY27 financial results for updates on the Bengaluru expansion project.

TAJGVK Receives OC for 256-Key Taj Yelahanka; Scheduled Opening September 2026

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 01 Jul 2026, 03:17 PM

Taj GVK has received the Occupancy Certificate (OC) for its new 256-key luxury property, Taj Yelahanka, in North Bengaluru. This expansion represents a significant ~18.8% increase in the company's total room inventory from the current 1,362 rooms. The hotel is scheduled to become operational by September 2026, targeting the high-demand corporate and MICE segments. Additionally, the company holds an adjacent 4-acre land parcel for potential Phase II development, providing a long-term growth runway.

Received Occupancy Certificate for the 256-key luxury Taj Yelahanka property
Scheduled to begin operations by September 2026
Expansion adds ~18.8% to the existing total inventory of 1,362 rooms
Adjacent 4-acre land parcel available for future Phase II development
Project aimed at reducing geographic concentration in the Hyderabad market (currently 52% of inventory)

💡 Monitor the timely acquisition of ancillary licenses and the official commencement of operations in September 2026. Investors should track the occupancy ramp-up and Average Daily Rates (ADR) in the first two quarters post-launch to gauge the project's contribution to the bottom line.

View All TAJGVK Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated Operating Income (OI) grew 68.9% YoY to INR 383.6 Cr in FY2023, which was 22.7% higher than pre-Covid FY2020 levels. Q1 FY2024 revenue reached INR 91.6 Cr, a 7.1% increase YoY, driven by business travel and MICE segments.

Geographic Revenue Split

The company has high geographic concentration in Hyderabad, which accounts for 52% of its total inventory (4 out of 7 properties). The remaining inventory is spread across Mumbai (via JV) and other regions, with a new premium hotel planned for Bengaluru to diversify this split.

Profitability Margins

Operating margins improved significantly to 31.1% in FY2023 compared to 24.2% in FY2020. Q1 FY2024 margins stood at 28.6%, slightly lower than the 34.5% achieved in Q1 FY2023 due to ongoing renovations and the closure of Taj Banjara.

EBITDA Margin

EBITDA margin (OPBDIT/OI) was 31.1% in FY2023, a substantial recovery from 23.0% in FY2022 and -1.5% in FY2021. This improvement is attributed to operating leverage and sustained cost-optimization measures.

Capital Expenditure

Planned capital expenditure of approximately INR 250 Cr over the period FY2023 to FY2026 for the construction of a new premium hotel in Yelahanka, Bengaluru, and ongoing property renovations.

Credit Rating & Borrowing

Long-term rating upgraded to [ICRA]A (Stable) from [ICRA]A- (Stable); Short-term rating reaffirmed at [ICRA]A2+. Finance costs decreased by 32% YoY to INR 8.85 Cr in FY2024-25 due to debt repayment and effective working capital management.

⚙️ Operational Drivers

Raw Materials

Primary operational inputs include food and beverages, guest supplies, and linen, which are part of 'Other Operating and General Expenses' that totaled INR 187.99 Cr (representing approximately 49% of revenue).

Import Sources

Not disclosed in available documents; however, procurement is managed through IHCL's established supply chain networks in India.

Key Suppliers

Not disclosed in available documents, but the company benefits from the procurement scale of its JV partner, The Indian Hotels Company Limited (IHCL).

Capacity Expansion

Current inventory stands at 1,362 rooms (1,083 standalone and 279 in JV). Expansion includes a new premium hotel in Yelahanka, Bengaluru, expected to be completed by FY2026.

Raw Material Costs

Other Operating and General Expenses increased by 13% YoY to INR 187.99 Cr in FY2024-25, reflecting higher occupancy and inflationary pressures on consumables.

Manufacturing Efficiency

Efficiency is driven by operating leverage; operating margins rose from 24.2% (pre-Covid) to 31.1% (FY2023) as occupancy levels recovered and cost-saving measures were sustained.

Logistics & Distribution

Distribution is primarily handled through IHCL's global sales and reservation systems, leveraging the 'Taj' and 'Vivanta' brand networks.

📈 Strategic Growth

Expected Growth Rate

7.10%

Growth Strategy

Growth will be achieved through the INR 250 Cr expansion into the Bengaluru market, renovation of existing properties to maintain premium positioning, and leveraging the recovery in business travel and MICE (Meetings, Incentives, Conferences, and Exhibitions).

Products & Services

Premium hotel accommodation, banquet and conferencing services (MICE), social event hosting (weddings), and high-end food and beverage services.

Brand Portfolio

Taj Krishna, Taj Deccan, Vivanta Begumpet, Taj Santacruz (JV), and Taj Banjara (currently closed).

New Products/Services

Upcoming premium hotel in Yelahanka, Bengaluru, expected to contribute significantly to revenue post-FY2026.

Market Expansion

Expansion into the Bengaluru market with a new property to reduce reliance on the Hyderabad market by FY2026.

Market Share & Ranking

Moderate-scaled player in the Indian premium hotel industry with a strong leadership position in the Hyderabad market.

Strategic Alliances

Strategic Joint Venture with The Indian Hotels Company Limited (IHCL), which holds a 25.52% stake and acts as the hotel operator.

🌍 External Factors

Industry Trends

The industry is seeing a healthy demand outlook with a 7.1% YoY uptick in Q1 FY2024, driven by a shift toward organized premium brands and a strong recovery in business and social events.

Competitive Landscape

Competes with other luxury hotel chains in Hyderabad and Mumbai; market dynamics are currently favorable due to demand outstripping supply growth.

Competitive Moat

Moat is built on the 'Taj' brand equity, strategic partnership with IHCL, and prime locations in Hyderabad and Mumbai. This is sustainable due to high entry barriers for luxury hotel real estate.

Macro Economic Sensitivity

Highly sensitive to GDP growth and corporate travel budgets; performance in FY2021 and FY2022 was significantly impacted by pandemic-related travel restrictions.

Consumer Behavior

Increasing preference for branded luxury stays and large-scale social/wedding events is driving demand for TajGVK's premium properties.

Geopolitical Risks

Vulnerable to exogenous factors such as geopolitical crises, terrorist attacks, and disease outbreaks which can abruptly halt international and domestic travel.