Indian Hotels Co. Ltd. · NSE:INDHOTEL
Indian Hotels — The Indian Hotels Company — Investor Day (May 2023)
71 slides from Indian Hotels's investor day presentation, May 11, 2023
Slide 1: Investor / Analyst Presentation cover letter to exchanges
May 11, 2023 BSE Limited National Stock Exchange of India Limited Corporate Relationship Department Exchange Plaza 1st Floor, New Trading Ring, Bandra Kurla Complex Rotunda Building, P. J. Towers, Bandra (E) Dalal Street, Fort, Mumbai 400 051 Mumbai – 400 001. Scrip Code: INDHOTEL Scrip Code: 500850
Slide 2: Aspiration x Execution = Performance
ASPIRATION X EXECUTION = PERFORMANCE CAPITAL MARKET DAY | 11th May 2023
Slide 3: IHCL: A Story of Aspiration, Execution & Performance
IHCL A STORY OF ASPIRATION, EXECUTION & PERFORMANCE ASPIRATION TO RESET DURING SIGHTS ON THE EXECUTION COVID-19 FUTURE CONSISTENT EMERGING AHVAAN PERFORMANCE STRONGER 2025 2
Slide 4: We Promised Profitability, We Delivered Record Performance
WE PROMISED PROFITABILITY, WE DELIVERED RECORD PERFORMANCE 3
Slide 5: Record Financial Performance: Achieving Key Milestones
RECORD FINANCIAL PERFORMANCE Achieving Key Milestones ₹ 11,000 Crore ₹ 1,000 Crore ₹ 1,000 Crore ₹ 50,000 Crore Enterprise Consol. Free Cash Market Revenue PAT Flows Capitalization 1.5X 2.8X 3.5X 2.5X PRE-COVID LEVEL 4
Slide 6: Record Performance in Every Single Quarter of FY 2022/23
RECORD PERFORMANCE In Every Single Quarter of FY 2022/23 ₹ Crores Q1 (Apr.-Jun.) Q2 (Jul.-Sept.) 1,293 1,258 1,057 1,029 210 405 182 319 Q1 19/20 Q1 22/23 Q2 19/20 Q2 22/23 Q3 (Oct.-Dec.) Q4 (Jan.-Mar.) 1,744 1,655 1,409 1,101 462 655 565 246 Q3 19/20 Q3 22/23 Q4 19/20 Q4 22/23 Revenue EBITDA CONSIS
Slide 7: Positioned to Win in RevPAR Growth
POSITIONED TO WIN In RevPAR Growth WIDENING REVPAR PREMIUM (₹) Premiumizing Our Portfolio 3,300 Strong Brand Equity 1,400 4,700 Quality Market Share Gains 3,700 Mar' 2019 Mar' 2023 Smart Renovations Industry RevPAR IHCL Premium Source: STR, Company Data 6
Slide 8: Underpinned by Resilient Balance Sheet, Strong FCF
UNDERPINNED BY Resilient Balance Sheet, Strong FCF FROM NET DEBT TO NET CASH STRONG REBOUND IN FREE CASH FLOWS 987 1,017 98 Net Cash Positive 290 -1,915 -92 -870 -3,110 FY 19-20 FY 20-21 FY 21-22 FY 22-23 FY 19-20 FY 20-21 FY 21-22 FY 22-23 ₹ /crores ₹ /crores 7
Slide 9: We Promised a Re-imagined Brandscape, We Delivered Performance Across Brands
WE PROMISED A RE-IMAGINED BRANDSCAPE, WE DELIVERED PERFORMANCE ACROSS BRANDS 8
Slide 10: We Continued to Invest Strongly in Brand-Building
WE CONTINUED TO INVEST Strongly in BRAND-BUILDING 9
Slide 11: Taj: Crown Jewel of IHCL
TAJ Crown Jewel of IHCL, World’s Strongest Hotel Brand TAJ Contribution to TAJ Enterprise Revenue (₹ Crores) Enterprise Revenue OPERATIONAL HOTELS 8,000 4,600 41 72% FY 2017-18 FY 2022-23 FY 2017-18 FY 2022-23 Taj Non-Taj Portfolio 81 10
Slide 12: Re-imagined Vivanta and SeleQtions Scaling-up
RE-IMAGINED VIVANTA and SELEQTIONS Scaling-up Contribution to Enterprise Revenue NAMED UPSCALE OPERATIONAL COLLECTION HOTELS 16% HOTELS (As on 30th April 2023) 2018 2018 Brand Launch Re-imagination 48 31 47 Hotels Portfolio Today Hotels Portfolio Today CONVERSIONS VIVACIOUS SeleQtions + Vivanta The
Slide 13: Re-imagined Ginger Delivering Unprecedented Profitability
RE-IMAGINED GINGER Delivering Unprecedented Profitability Ginger Enterprise Revenue (₹. Crores) OPERATIONAL HOTELS BEST - EVER 360 PERFORMANCE ₹ 300 Cr+ 200 42 Revenues (↑ 44%*) ₹ 120 Cr# EBITDA (↑ 120%*) 39%# FY 2017-18 FY 2022-23 Margin (↑ 13 pp*) FY 2017-18 FY 2022-23 59 *Comparison v/s Pre-COVID
Slide 14: The Re-imagined TajSATS
THE RE-IMAGINED TAJ SATS Performance Like Never Before TajSATS Enterprise Revenue TajSATS (₹ Crores) Market Share (FY23) 640 Avg. Daily Meals 420 1,00,000+ 58% FY 2017-18 FY 2022-23 FY 2017-18 FY 2022-23 13
Slide 15: Focus on F&B: Scaling-up Brands, Introducing New Concepts
FOCUS ON F&B Scaling-up Brands, Introducing New Concepts SCALING-UP EXISTING BRANDS Delhi, Bhopal, Jaipur Delhi, Bhopal, Jaipur, Bangalore Cape Town, Dubai, London Mumbai, Dubai, Kerala, Kolkata INTRODUCING NEW CONCEPTS Mumbai, Goa Goa, Bangalore Goa Mumbai, Delhi, Bangalore 14
Slide 16: Re-imagined Wellness: J Wellness Circle
RE-IMAGINED WELLNESS J Wellness Circle Evolving to 50+ Hotels COASTER Enhancement of value proposition for a shift from spa to a wellness brand FAÇADE SIGNAGE PRINT COLLATERALS 15
Slide 17: New Businesses Creating Brand Value
NEW BUSINESSES Creating Brand Value Qmin Shops Qmin Food Truck Qmin QSR Qmin Airports ₹ 150 Crore GMV since inception 117 properties across 50+ Locations 16
Slide 18: Unleashing the Power of All Brands
UNLEASHING THE Power of All Brands Enterprise Revenue (₹ Crores) FY 2017-18 FY 2022-23 4600 8000 1800 1800 200 360 420 640 IHCL Enterprise Revenue 7,000 11,000 Note: Rounded off-values 17
Slide 19: We Promised Growth, We Delivered Unprecedented Expansion
WE PROMISED GROWTH, WE DELIVERED UNPRECEDENTED EXPANSION 18
Slide 20: Development Strategy: Asset SMART
DEVELOPMENT STRATEGY ASSET SMART S M A R T Margin Asset Strategic Enhancement Management Relationships Tracking 19
Slide 21: Industry Leading Growth in Portfolio
INDUSTRY LEADING Growth In Portfolio PORTFOLIO OF HOTELS SHIFT IN 188 75 PORTFOLIO MIX Operational + Pipeline = 263 50:50 Owned V/S Managed 100 78 85 As on 30th April 2023
Slide 22: Portfolio Growth
PORTFOLIO GROWTH NO. OF HOTELS 175 187 188 200 149 158 165 160 145 120 60 73 75 80 42 56 40 20 30 0 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 Operational Pipeline (YTD 30th April) 100 85 78 50 59 46 Note: Including pipeline
Slide 23: Highest Signings in the Country by Any Operator
HIGHEST SIGNINGS IN THE COUNTRY By Any Operator In 2022 NO. OF HOTEL SIGNINGS 36 29 22 19 17 4 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 (YTD 30th April) Source: HVS Anarock India Hospitality Review 2022
Slide 24: Nature of Signings
NATURE OF SIGNINGS FORAY INTO NEW GOVERNMENT BIDS DEEPER PENETRATION FOCUS ON GROWTH IN MARKETS DOMESTIC & ENTERED INTO INTO EXISTING MARKETS NORTH EAST INTERNATIONAL Growth in Entered into long term Presence in more 5 Operational Hotels tier 2 and tier 3 cities contracts with Governments micro-mark
Slide 25: New Openings
NEW OPENINGS NO. OF HOTELS 16 13 12 TAJ AMER, JAIPUR TAJ WAYANAD KERALA 7 5 2018-19 2019-20 2020-21 2021-22 2022-23 TAJ CITY CENTRE NEWTOWN, KOLKATA SAWAI MAN MAHAL, JAIPUR 24
Slide 26: New Openings
NEW OPENINGS BARAGARH SAWAI VIVANTA TAJ ANAND 25 MAN AMER, WAYANADRESORT SHILLONG, KATRA, MAHAL, KASHI, JAIPUR & RESORT SPA, VAISHNO JAIPUR RISHIKESH MANALI MEGHALAYA DEVI & SPA, KERALA
Slide 27: Driving Growth by Re-imagining Our Spaces
DRIVING GROWTH BY Re-imagining Our Spaces CAPEX SPENDS ₹ /Crores 510 479 487 471 318 215 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 IHCL Consolidated Data Re-imagining Product Re-positioning New Concepts Enhancements THROUGH CONSISTENTLY INVESTING IN UPGRADING OUR OWN PROPERTIES 26
Slide 28: Openings and New Concepts
First standalone Spa & Salon at Lodha World Towers, Mumbai Papermoon Introduced Long Stay Residences OpeningSeven Rivers Soon.. …Taj …Spa Usha &Kiran at Taj Qmin Taj House @Mumbai Club of Palace, Lands End, Ginger Nomad GwaliorHotels Lounge J Wellness Theme Circle & niu&nau at Taj Mahal Delhi Openin
Slide 29: Well Poised to Reach Our Ahvaan Targets
….WE ARE WELL POISED TO REACH OUR AHVAAN TARGETS TODAY AHVAAN 2025 263 HOTELS 300 100 100 78 75 85 125 28
Slide 30: Well Poised to Reach Our Ahvaan Targets: Potential
….WE ARE WELL POISED TO REACH OUR AHVAAN TARGETS TODAY POTENTIAL 263 HOTELS 325+ 100 110+ 78 90+ 85 125 29
Slide 31: We Promised Iconic Hospitality, We Delivered World-Class Customer Centricity
WE PROMISED ICONIC HOSPITALITY, WE DELIVERED WORLD-CLASS CUSTOMER CENTRICITY 30
Slide 32: Excellence: Best NPS Scores & Reviews Globally
EXCELLENCE - BEST NPS SCORES & REVIEWS GLOBALLY NPS Online Ratings 70 67.8 68.6 68 66 64 62 60.3 60 96.32 85.52 91.28 TAJ* 58 56 Peer Set Avg. 2nd Best TAJ* NPS Peer Set 86.92 82.56 87.42 Brands in the NPS subscriber base: Mandarin Oriental, Fairmont, Pullman, Sofitel, Grand Mercure, Aman, Movenpick
Slide 33: Loyalty Reimagined: Tata Neu
LOYALTY REIMAGINED TATA NEU 4.2 Mn Total Members (↑ 110% Vs FY19-20) ₹ 2200 Cr+ Loyalty Led Revenues Award-winning Enhanced Scale, (↑ 83% Vs FY19-20) Signature loyalty Efficiency and Customer program of IHCL Engagement 20% contribution to IHCL Enterprise Revenues 32
Slide 34: Custodians of Indian Hospitality
CUSTODIANS OF Indian Hospitality IHCL @ Davos Global Leaders Industry Leaders Host for Prestigious Events and Leadership Meets 33
Slide 35: Integrated Marketing Campaigns
INTEGRATED Marketing Campaigns Industry-Leading Campaigns | Comprehensive Calendar | Brand-First Outreach Building Distinctive Creating Niche Utilising Key Trends & Nurturing High-Potential Intellectual Properties Opportunities Occasions Revenue Segments Dekho Apna Desh Woyage Cyber Monday Urban Get
Slide 36: Enabled by Focus on Culture & ESG
ENABLED BY FOCUS ON CULTURE & ESG 35
Slide 37: Living the IHCL Values
LIVING THE IHCL Values IHCL’s core values serve as TRUST AWARENESS JOY guiding principles for its culture, work environment 36
Slide 38: Culture of Camaraderie: Celebrating Spirit of Tajness
CULTURE OF CAMARADERIE CELEBRATING SPIRIT OF TAJNESS OBJECTIVES KEY ELEMENTS OF THE DAY Looking back at our journey since Leaders Speak March 24, 2020 Memorial Service Resilience, Responsiveness and Resurgence Special Meals Engaging Activities A day of gratitude 37
Slide 39: Culture of Responsible Business
CULTURE OF RESPONSIBLE BUSINESS PRESERVE PROMOTE Heritage & Brand Environmental Stewardship PROGRESS PROMISE Sustainable Growth Social Responsibility PA R T N E R PRUDENT Transformation Corporate Governance 38
Slide 40: Culture of Responsible Business: Paathya 2030 Targets
CULTURE OF RESPONSIBLE BUSINESS PAATHYA 2030 TARGETS Waste Waste Water Energy All hotels to provide Green Meetings 100% elimination of 100% operating hotels 100% water 50% energy use to EV charging stations 100% business meetings single-use plastic will have an organic recycling be from renewables &
Slide 41: Taj Mahal Palace, Mumbai 100% Green
TAJ MAHAL PALACE, MUMBAI 100% GREEN 40
Slide 42: Slide 42
Slide 43: The Result: Delivering Responsible Profitable Growth
THE RESULT: DELIVERING RESPONSIBLE PROFITABLE GROWTH Mr. Giridhar Sanjeevi – EVP, Chief Financial Officer 42
Slide 44: Journey of Financial Turnaround – Consolidated P&L
JOURNEY OF FINANCIAL TURNAROUND – CONSOLIDATED P&L PARTICULARS (₹ Crores) FY 16-17 FY 17-18 FY 18-19 FY 19-20 FY 20-21 FY 21-22 FY 22-23 REVENUE 4,076 4,165 4,595 4,596 1,740 3,211 5,949 EBITDA 665 732 913 1100 (197) 560 1,943 % EBITDA (%) 16.3% 17.6% 19.9% 23.9% - 17.4% 32.7% PAT (63) 101 287 354 (
Slide 45: Performance Drivers
PERFORMANCE DRIVERS REVENUE MARGIN BALANCE SHEET Strong Indian Consumption Story Sweating Existing Assets Simplification Hospitality Demand Supply ↑ Share of High Margin Businesses Focus on ROCE Not Like For Like Growth Enhanced Productivity Strong Free Cash Flows Asset Light Growth Zero Interest Co
Slide 46: Diversification of Top Line at the Core of Our Strategy
Revenue | Margin | Balance Sheet DIVERSIFICATION OF TOP LINE AT THE CORE OF OUR STRATEGY Asset Heavy business driving Leverage; Asset light ensuring Resilience FY 2017-18 FY 2022-23 Others Others Asset Light 8 Asset Light 7 10 14 Room Room 43 44 F&B F&B 39 35 % Share of Consolidated Revenue 45
Slide 47: Robust Pipeline to Drive Growth
Revenue | Margin | Balance Sheet ROBUST PIPELINE TO DRIVE GROWTH As on 30th April 2023 * Total count is inclusive of rooms currently under renovation/expansion 46
Slide 48: Asset Light & High Margin Focus - Management Fees
Revenue | Margin | Balance Sheet ASSET LIGHT & HIGH MARGIN FOCUS - MANAGEMENT FEES 550+ 399 400+ AHVAAN 2025 213 204 213 POTENTIAL UPDATED ₹/ Crores 17-18 18-19 19-20 22-23 AHVAAN 2025 UPDATED POTENTIAL POTENTIAL Rapid increase in hotels under management, to fuel High Flow Through Management Fee Gro
Slide 49: Ginger - To See High Growth & Profitability
Revenue | Margin | Balance Sheet GINGER - TO SEE HIGH GROWTH & PROFITABILITY Potential to reach 100 operating Ginger Hotels by FY 26 REVENUE 600 + Potential to reach 100 Operating Ginger 307 250+ Hotels by 183 206 213 179 FY 26 135 120 46 ₹/ Crores 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 AHV
Slide 50: Chambers Memberships – A High Margin Business
Revenue | Margin | Balance Sheet CHAMBERS MEMBERSHIPS – A HIGH MARGIN BUSINESS F&B, Rooms, Rentals over and above Chambers Fees (₹/ Crores) 150 97 New Chambers at Taj 85 West End to be Launched in 2023/24 63 39 39 49 36 Plans in work to 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 AHVAAN
Slide 51: Sweating Existing Assets: Mumbai and Delhi
Revenue | Margin | Balance Sheet SWEATING EXISTING ASSETS TO MAXIMISE OPERATING LEVERAGE Mumbai and Delhi demonstrate this…. MUMBAI DELHI NCR 7,921 11,680 5,515 8,022 1254 930 546 522 378 316 164 64 RevPAR( ₹ ) Revenue ( ₹ Cr ) EBITDA( ₹ Cr ) RevPAR( ₹ ) Revenue ( ₹Cr ) EBITDA( ₹Cr ) +46% +35% +65%
Slide 52: Sweating Existing Assets: Goa and Bengaluru
Revenue | Margin | Balance Sheet SWEATING EXISTING ASSETS TO MAXIMISE OPERATING LEVERAGE ….so do Goa and Bengaluru GOA BENGALURU 17,284 6,197 4,536 10,001 494 356 343 224 147 64 115 47 RevPAR( ₹ ) Revenue ( ₹ Cr ) EBITDA( ₹ Cr ) RevPAR( ₹ ) Revenue ( ₹ Cr ) EBITDA( ₹ Cr ) +73% +59% +130% +37% +44% +
Slide 53: Traditional Business: RevPAR
Revenue | Margin | Balance Sheet TRADITIONAL BUSINESS RevPar Growth to be higher than historical averages RevPAR 9,000 22/23 8,000 7,750 Apr. 23 Revpar: ₹ 7,648 (+11%) 9,300 7,000 6,100 5,800 6% 8,800 ₹ / Night 6,000 5,000 8% 7,750 2% 6,700 5,000 5,600 6,100 5,350 -8% 4,000 7% 3,000 2015/16 2016/17
Slide 54: Enterprise Performance & Potential
Revenue | Margin | Balance Sheet ENTERPRISE PERFORMANCE & POTENTIAL ~7,000 ~11,000 ~15,000 2017-18 2022-23 AHVAAN 2025 Potential ₹ Crores 53
Slide 55: Continued Focus on Productivity
Revenue | Margin | Balance Sheet CONTINUED FOCUS ON Productivity PAYROLL COSTS AS % RAW MATERIAL COSTS AS % OF OF REVENUE F&B REVENUE 22% 33% 21% 27% FY 2019/20 FY 2022/23 FY 2019/20 FY 2022/23 OTHER OPERATING COSTS AS % CORPORATE OVERHEADS AS % OF REVENUE OF REVENUE 30% 28% 9% 6% FY 2019/20 FY 2022
Slide 56: Margin and Free Cash Flow Guidance
Revenue | Margin | Balance Sheet MARGIN AND FREE CASH FLOW 33% is a fair EBITDA Guidance IHCL CONSOLIDATED % OF REVENUE AHVAAN GUIDANCE 2022-23 Total Revenue 100% 100% EBITDA 30% - 35% 32.7% Fixed Leases, Taxes, Working Capital & Dividends 10% 8.0% Normal Capex & Renovations 5% 6.3% Cash Flow before
Slide 57: Capital Allocation Principles
Revenue | Margin | Balance Sheet CAPITAL ALLOCATION PRINCIPLES Build a Strategic Reserve Fund Dividend Strong Cash Position to A meaningful and sustainable meet future contingencies. dividend Currently ~ ₹750 crs Greenfield and Operating Capex Selective M&As For replacement of assets, Select Greenfi
Slide 58: Significant Increase in Consolidated ROCE
Revenue | Margin | Balance Sheet SIGNIFICANT INCREASE IN CONSOLIDATED ROCE % 13 8 7 5 2017-18 2018-19 2019-20 2022-23 57
Slide 59: Return on Capital Employed – Consolidated
Revenue | Margin | Balance Sheet RETURN ON CAPITAL EMPLOYED – CONSOLIDATED ₹ 3,418 CR INTERNATIONAL HOTEL ASSETS ROCE ON HOTEL ASSETS 16% ₹ 5,082 CR TOTAL CAPITAL EMPLOYED HOTEL ASSETS ROCE ON DOMESTIC ₹ 11,938 CR HOTEL ASSETS 24% ₹ 3,438 CR OTHER ASSETS FY 2022-23. Detailed Workings in Annexure 58
Slide 60: Return on Capital Employed – IHCL Standalone
Revenue | Margin | Balance Sheet RETURN ON CAPITAL EMPLOYED – IHCL STANDALONE ROCE ON ₹ 3,195 CR HOTEL ASSETS TOTAL CAPITAL EMPLOYED ₹ 10,386 CR HOTEL ASSETS 35% ₹ 7,191 CR OTHER ASSETS FY 2022-23. Detailed Workings in Annexure 59
Slide 61: Well Positioned for the Future
WELL POSITIONED FOR THE FUTURE Mr. Puneet Chhatwal – MD & CEO, IHCL 60
Slide 62: Macro-Economic Tailwinds
MACRO-ECONOMIC TAILWINDS THE INDIA GOVERNMENT FOCUS ON SERVICES GROWTH STORY INFRASTRUCTURE ECONOMY Fastest Growing Major 80 New Airports expected 42% Growth in Services Exports in Economy in the World in India in next 5 years FY 22-23 India to be 3rd Largest Government developing tourism Premium ho
Slide 63: Structural Shift in Earning Power & Spend Patterns
STRUCTURAL SHIFT IN Earning Power & Spend Patterns Rising Mutual Fund Contribution From Non Top 25 Cities Indicating Significant Increase In Earnings Across The Nation INCREASED WILLINGNESS TO DEMAND FOR PAY PREMIUM FOR EXPERIENCES UNIQUENESS 80% 72% FY 19-20 FY 22-23 20% 28% INCREASED PROPENSITY TO
Slide 64: Indian Hospitality: A Market Penetration Story
INDIAN HOSPITALITY A Market Penetration Story Hotel Demand Grew By Rooms Supply Grew By 11.1% 4.5% (vs. FY20) IN FY23, (vs. FY20) IN FY23, Growth In All Key Supply Growth To Remain Markets Tepid DEMAND GROWTH CONTINUES TO OUTPACE SUPPLY Source: STR 63
Slide 65: IHCL Well Positioned to Proactively Capture the Potential
IHCL WELL POSITIONED To Proactively Capture The Potential › Riding on the Indian Growth Story › Demographic Dividend Boosting the Services Economy MACRO-ECONOMIC › Consumers with Higher Buying Power, Propensity to Spend › Up-cycle Continues with Demand Outpacing Supply › Indian Hospitality is A Mark
Slide 66: Ahvaan 2025
I AHVAAN 2025 ICONIC AND ry PROFITABLE 3 3 HOSPITALITY COMPANY EBITDA MARGIN ine HOTEL PORTFOLIO RE-ENGINEER MARGINS. RE-IMAGINE <> 7 RESTRUCTURE BRANDSCAPE PORTFOLIO ONE TATA 50-50 ORGANIZATION DIGITAL PAATHYA PORTFOLIO QOD ee INTEGRITY, EXCELLENCE, UNITY, TRUST, AWARENESS, JOY RESPONSIBILITY, PION
Slide 67: Clear Aspirations, Robust Strategy & Powerful Execution Engine
CLEAR ASPIRATIONS, ROBUST STRATEGY & POWERFUL EXECUTION ENGINE Confident in our 1] Strong tailwinds for Indian economy & hospitality sector strategy and ability 2] IHCL has an advantaged portfolio and footprint to deliver 3] Our culture and capabilities are our competitive advantages Responsible 4]
Slide 68: We Promise, and We Will Deliver
WE PROMISE, AND WE WILL DELIVER 67
Slide 69: Aspiration x Execution = Performance
ASPIRATION X EXECUTION = PERFORMANCE CAPITAL MARKET DAY | 11th May 2023
Slide 70: Disclaimer
Disclaimer This presentation contains selected information about the activities of the Company and the Group as at the date of this presentation. The information in this document have been collected with the purpose to provide interested parties with information about the Group including but not lim
Slide 71: Return on Capital Employed – Calculation FY 2022-23
RETURN ON CAPITAL EMPLOYED – CALCULATION FY 2022-23 Details (₹/Crores) Standalone Consolidated Reported Capital Employed 10,386 11,938 Less: Investments 5,576 1787 Deployed Assets 4,811 10,151 Less: Corporate Assets ( Cash & CWIP) 1,616 1,651 Hotel Assets 3,195 8,500 Less: International - 3,418 Dome