Eih LimitedNSE: EIHOTEL

Annual Report 2024-25

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EIH Limited

A MEMBER OF THE OBEROI GROUP



Integrated Annual Report

2024-25

WHAT'S INSIDE

FY 2024-25 AT A GLANCE

FY 2024-25 at a glance 1

A legacy forged in resilience 2

Rai Bahadur M.S. Oberoi 6

Mr. Prithvi Raj Singh Oberoi 8

90 years of excellence 10

About the report 12

Capitals 14

17

Poised for global grandeur

31

Resonance of timeless excellence

Financial highlights*





About EIH Limited 18

Brand portfolio 20

J25,353

million

J10,050

million

J9,625

million

Presence 22

Awards 24

Gross Revenue EBITDA

Profit Before Tax (PBT)

Executive Chairman's message 32 9%

MD and CEO's message 36

42

Financial highlights 40

10%

39%

Delivering personalised experiences

J938 million

J7,513 million

J42,452

million

Food and beverages 44

Digitalisation 46

Proposed dividend

Profit After Tax (PAT)

Net Worth

Operating context 50

Business model 52

Stakeholder engagement 54

Material issues 56

Risk management 58

Environment 66

Social 76

Governance 86

Statutory Report

Directors' Report 96

49

Heritage nurtured by progress

65

Conscious hospitality

25% 44% 19%

- YoY growth

*Standalone figures

Management Discussion and Analysis

Business Responsibility and Sustainability Report

106





116

Report on Corporate Governance 172

Standalone

Independent Auditor's Report 196

Balance Sheet 218

Statement of Profit and Loss 219

Statement of Cash Flow 220

Statement of Changes in Equity 222

Notes 223

Consolidated

Independent Auditor's Report 306

Balance Sheet 318

Statement of Profit and Loss 319

Statement of Cash Flow 320

Statement of Changes in Equity 322

Notes 323

OUR OPERATIONS

30

Hotels and Cruisers

4,229

Keys (owned and managed)



A legacy forged...

The Oberoi legacy began not in grand boardrooms, but with a young man standing outside a hotel he was not allowed to enter. From this moment of rejection sprang a story of vision, audacity, and enduring excellence.

Over nine decades, The Oberoi Group transformed the Indian hospitality landscape, shaping luxury, pioneering global standards, and exporting Indian warmth across continents. Each milestone marked more than just expansion, it reflected bold choices and values that shaped generations of hoteliers.

1934 1938 1944

Corporate Overview Statutory Reports Financial Statements



1957

THE FIRST FLIGHT CATERING IN INDIA, OBEROI FLIGHT SERVICES

1965

THE OBEROI INTERCONTINENTAL, NEW DELHI

ACQUIRED THE CLARKES, SHIMLA

THE GRAND KOLKATA ACQUIRED THE CONTROLLING STAKE IN ASSOCIATED HOTELS

OF INDIA

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EIH Limited 3



1966 1980s

OBEROI SCHOOL OF HOTEL

MANAGEMENT OPENING ICONIC PROPERTIES

1997

EXPANSION IN INDONESIA

THE OBEROI BEACH RESORT, LOMBOK

Corporate Overview Statutory Reports Financial Statements

1973

OBEROI SHERATON, BOMBAY. NOW TRIDENT NARIMAN POINT, MUMBAI

1978

INAUGURATION OF FIRST INTERNATIONAL PROPERTY

THE OBEROI BEACH RESORT, BALI

2000s

EXPANSIONS AND RENEWALS

FORGING THE FUTURE: VISION 2030 AND BEYOND

4 Integrated Annual Report 2024-25

...in resilience

EIH Limited 5



Corporate Overview Statutory Reports Financial Statements



Rai Bahadur M.S. Oberoi

Founder Chairman

EIH Limited, the flagship of The Oberoi Group, stands as a tribute to the visionary legacy of the late Rai Bahadur M.S. Oberoi, a pioneer of luxury hospitality in India.

6 Integrated Annual Report 2024-25

EIH Limited 7



MR. PRITHVI RAJ SINGH OBEROI

Honouring an industry legend

Mr. P.R.S. Oberoi



"Luxury is all about having everything exactly the way it should be - whether it is the degree of lighting, the placing of switches, the height of the bathtub or the colour of the curtains."

A legendary figure in hospitality, the late Mr. Prithvi Raj Singh Oberoi, our Chairman Emeritus, leaves behind a legacy that continues to inspire. For him, hospitality was never merely

a service; it was the art of creating "exceptional guest experiences". This philosophy remains the cornerstone of our values, shaping how we welcome and care for guests across the world.

Under his visionary leadership, EIH Limited redefined luxury and service excellence, setting benchmarks that endure to this day. People were always at the heart of his approach. He viewed the EIH family as an extension of his own, often saying, "People are our principal asset

and key to our success." This belief informed every decision he made.

In line with this conviction, he founded The Oberoi Centre of Learning and Development (OCLD) in 1967. Over the decades, OCLD has nurtured some of India's finest

hoteliers, continuing his commitment to excellence.

Throughout his remarkable career, Mr. Oberoi was honoured with some of the industry's most prestigious awards, including the Padma Vibhushan, 'Corporate Hotelier of the World' by HOTELS Magazine (USA) and multiple lifetime achievement awards.

As we honour his memory, his spirit of excellence, warmth and integrity continues to illuminate our path forward.

Integrated Annual Report 2024-25

EIH Limited



8 9



THEME INTRODUCTION

His vision wasn't just to build hotels

  • it was to set a new global standard of warmth, service and elegance

  • rooted in Indian values. What began in 1934 in the Himalayan foothills, with a single hotel and limitless determination, has today blossomed into a beacon of timeless luxury - respected across continents and cherished by generations of guests.

And yet, we believe the best is yet to come. For us, excellence is not a destination - it is a living, evolving legacy; powered by purpose, shaped by resilience and inspired by unwavering belief in the magic of Indian hospitality.

Every chapter in our journey has been marked by bold choices and visionary foresight - whether it was building India's first modern luxury hotel in New Delhi, or reclaiming land from the Arabian Sea to create a skyline-defining icon in Mumbai.

But our true legacy has always been defined by people and by the experiences they create. From pioneering 24-hour room service in the 1960s and establishing flight

kitchens that catered to the world's largest aircraft, to the handcrafted grandeur of The Oberoi Rajvilās, Jaipur and the seamless, invisible service at The Oberoi Udaivilās, Udaipur; our story has always placed our guests' comfort, delight and sense of wonder at its heart.

This culture of care imbibed by our founder lives on in the generations of people we have nurtured through The Oberoi Centre of Learning and Development. Many of them have made EIH their home; devoting

their entire working life to shaping unforgettable experiences for our guests.

As we look to the future, our aspirations only grow bolder.

With a clear roadmap to double our hotels by 2030, we are infusing thoughtful design, meaningful technology, empowered teams and sustainability with the same belief that true hospitality is timeless luxury well deserved.

EIH Limited

11



Ninety years ago, one man dared to dream.

At a time when India was still finding its footing on the world stage, Rai Bahadur M.S. Oberoi, our founder, imagined a future where Indian hospitality would stand shoulder to shoulder with the finest in the world.



10 Integrated Annual Report 2024-25

About the report

EIH Limited's fifth Integrated Annual Report clearly reflects our long-term value creation. Comprehensive and transparent, it outlines how we deliver enduring impact in financial and non-financial areas. The Report highlights our strategic focus on sustainable growth and responsible business practices, reaffirming our commitment to creating meaningful value for all our stakeholders.

REPORTING PRINCIPLE



The non-statutory section of this Report draws inspiration from the

principles of the International Integrated Reporting Framework, developed by

the International Integrated Reporting Council (IIRC). It aims to present a

fair, transparent and comprehensive view of how we create value over time, addressing both qualitative and

quantitative factors that are material to our operations and strategic direction and which may influence stakeholder decisions. In parallel, the statutory sections including the Business Responsibility and Sustainability Report (BRSR), Directors' Report and its

annexures, the Management Discussion and Analysis (MDA) and the Corporate Governance Report adhere to the Companies Act, 2013 (and applicable rules), the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the revised Secretarial Standards issued by the Institute of Company Secretaries of India. Our financial statements are prepared in line with Indian Accounting Standards.

REPORTING PERIOD

This Integrated Report of EIH Limited offers meaningful insights into our strategy, business model, operating environment, risks, performance, future outlook and governance. It covers the reporting period from 1 April, 2024 to 31

March, 2025.

Stakeholder engagement

Investors and shareholders

Local communities Guests

Employees Value chain partners

Government and regulatory authorities

MATERIALITY

We undertake a thorough materiality assessment, engaging with our stakeholders to uncover the issues that matter most and ensuring our priorities align with their expectations and the evolving business landscape.

Read more about our materiality issues on

Page 56-57



FEEDBACK

We invite our stakeholders to review this Report and share their valued feedback at isdho@oberoigroup.com. With a commitment to transparency, this Report offers a balanced view of how we create value, addressing both qualitative and quantitative aspects that are vital to

our operations, strategic goals and our stakeholders' decision-making.

12 Integrated Annual Report 2024-25

13



EIH Limited

CAPITALS

Hospitality with impact

Corporate Overview Statutory Reports Financial Statements



Our expertise in hospitality stems from how we harness and enhance our diverse capitals. By blending exceptional guest experiences with sound financial insight, we create lasting value for our stakeholders, driving sustainable growth while delivering meaningful impact through thoughtful use of our resources.





FINANCIAL CAPITAL

We have strategically leveraged equity, internal accruals and debt to unlock the full potential of

our financial resources. Through prudent financial management, we optimise operations, enhance stakeholder value and propel sustainable growth ensuring our financial decisions consistently support long-term success and resilience.

MANUFACTURED CAPITAL

Over the years, our portfolio of hotels and properties has grown significantly. By continually fine-tuning our investment approach, we have not only enhanced profitability but also unlocked promising avenues for future returns firmly positioning ourselves for sustained success and long-term value creation.

INTELLECTUAL CAPITAL

Our intellectual assets span a rich tapestry of iconic brands, bespoke services and refined

operating procedures, anchored by distinguished institutions such as The Oberoi Centre of Learning and Development (OCLD), The Oberoi Centre of Excellence (TOCE) and The Oberoi Contact Centre (OCC). Complemented by our cherished trademarks and a suite of forward-thinking digital initiatives, we continue to deepen engagement

HUMAN CAPITAL

Our people are the cornerstone of our success. We create a culture of excellence that empowers every team member, values their contributions and supports their journey towards realising their fullest potential. Through an environment that cultivates talent, sparks innovation and inspires purpose, we continue to shape a workforce that drives meaningful progress.

SOCIAL AND RELATIONSHIP CAPITAL

We actively engage with consumers, suppliers, communities and

the wider public to promote collective well-being. Through open collaboration and a focus towards transparency, we go beyond expectations, driving meaningful change and uplifting

the communities we serve. In doing so, we cultivate lasting partnerships rooted in shared values.

NATURAL CAPITAL

We recognise our duty to safeguard natural resources and are working towards reducing our environmental impact. By adopting sustainable practices, we not only improve resource efficiency but also shrink our ecological footprint. Embracing renewable energy, streamlining waste management, championing recycling and prioritising reuse are at the heart of our approach to responsible stewardship.

J1.5

Proposed dividend per share

30

Hotels and Cruisers (owned and managed)

and cultivate lasting relationships with our stakeholders.

1,680

Trainings conducted for employees*

J70.66 million

CSR expenditure (for hotels in India)

18%

Renewable electricity out of

total electricity*

14 Integrated Annual Report 2024-25

* includes data for both national and international hotels

EIH Limited 15

Corporate Overview Statutory Reports Financial Statements

Poised for global grandeur

For nine decades, The Oberoi Group has epitomised the essence of Indian hospitality through dedication, passion and constant reinvention. As it looks to the future, we are poised to grow responsibly, aiming to reach 50 hotels by 2030. This growth is underpinned by our focus on quality and cultural authenticity, seeking out prime locations, crafting distinctive experiences and nurturing our staff to evolve with the brand. Guided by a pioneering spirit and an enduring devotion to excellence, we are poised to elevate Indian hospitality to unparalleled heights across the globe.

21

Hotels in pipeline

1,473

Keys in pipeline

EIH Limited 17

16

Integrated Annual Report 2024-25



ABOUT EIH LIMITED



Where legacy meets luxury

EIH Limited, the flagship of The Oberoi Group, epitomises luxury and excellence in Indian hospitality. Operating 30 world-class hotels, resorts and cruisers under the 'Oberoi' and 'Trident' brands across six countries, we offer curated experiences, sustainable practices and exceptional service spanning flight catering, travel planning and airport lounges.

THE OBEROI DHARMA

Members of The Oberoi Group apply The Oberoi Dharma to all aspects of the business, from decision-making to organisational and individual behaviour.

We are committed to demonstrating conduct that:

Corporate Overview Statutory Reports Financial Statements

THE OBEROI GROUP MISSION

Our guests

We are committed to meeting and exceeding the expectations of our guests through unremitting dedication to

1

Is of the highest ethical standards

- intellectual, financial and moral -and that reflects the highest levels of courtesy and consideration for others

2

Builds and maintains teamwork,

with mutual trust as the basis of all working relationships

3

Puts the customer first, the

Company second and the self last

4

Exemplifies care for the customer

through anticipation of need -attention to detail, excellence, aesthetics and style - and respect for privacy, along with warmth and concern

5

Demonstrates two-way

communication, accepting constructive debate and dissent while acting fearlessly with conviction

6

Considers people as our key asset,

through respect for every employee and leads from the front regarding performance achievement as well as individual development

7

Safeguards the security, health

and environment of the guests, employees and assets of the Company at all times

8

Eschews the short-term quick-fix for

the long-term establishment of a healthy precedent

perfection in every aspect of service.

Our people

We realise that our people are our truest asset. We are totally committed to their growth, development and welfare.

Our distinctiveness

Together we shall continue The Oberoi tradition of pioneering in the hospitality industry, striving for unsurpassed excellence in high potential locations all the way from the Middle East to Asia-Pacific.

Our shareholders

We believe it is our responsibility and duty to create extraordinary value for our shareholders. They have reposed their trust in us and our abilities.

18 Integrated Annual Report 2024-25

EIH Limited 19



BRAND

PORTFOLIO



19

Icons of timeless hospitality



As trailblazers in the hospitality industry, we have crafted a distinguished legacy through our iconic collection of hotels. Celebrated for their elegance and character, our esteemed brands embody the finest traditions of hospitality where exceptional design, striking architecture and impeccable service come together to create timeless experiences.

OBEROI HOTELS & RESORTS

In 1934, the late Rai Bahadur M.S. Oberoi ushered luxury hospitality into India with a simple yet profound belief that the guest always comes first. This founding philosophy continues to guide every member of Oberoi Hotels & Resorts, managed by EIH Limited.

We see each guest as an individual, welcoming them with the same warmth and care we would show a family member. Renowned for their elegance, grandeur and

personalised service, our hotels offer more than just a stay, they create unforgettable

experiences and lasting memories.

Hotels

1

Cruise

6

Countries

20

TRIDENT HOTELS



Trident Hotels are an ideal haven for both business and leisure travellers, offering a harmonious blend of modern comforts and personalised, dependable service. Thoughtfully designed to

ensure ease and relaxation, every stay promises a smooth, stress-free experience tailored to individual needs.



Integrated Annual Report 2024-25 EIH Limited



9

Hotels

8

Cities across India

21

1 2

3

4 5

3 9 7 3

1 4 8

2 4

1

1

6 2

13 10

7

6 5

6 7 11 8

5

12

9

PRESENCE

3,732

Total keys in India

497

Keys under The Oberoi Brand (excluding India)

Warmth and wonder worldwide

Our luxury hotels stand as enduring symbols of excellence, both within India and on the global stage. From hotels and resorts to cruises, our presence spans far and wide, offering guests our hallmark fusion of warmth, comfort and refined luxury, no matter where their journey takes them.

India

International

India

  1. Wildflower Hall, An Oberoi

    Resort, Shimla

  2. The Oberoi Cecil, Shimla

  3. The Oberoi Sukhvilās Resort & Spa, Siswan Forest, New Chandigarh

  4. The Oberoi, Gurgaon

  5. The Oberoi, New Delhi

  6. The Oberoi Amarvilās, Agra

  7. The Oberoi Rajvilās, Jaipur

  8. The Oberoi Vanyavilās Wildlife

    Resort, Ranthambhore

  9. The Oberoi Udaivilās, Udaipur

  10. The Oberoi Grand, Kolkata*

  11. The Oberoi, Mumbai

  12. The Oberoi, Bengaluru

  13. The Oberoi Vindhyavilās

Wildlife Resort, Bandhavgarh

*Currently closed for renovation

  1. The Oberoi, Marrakech

  2. The Oberoi Zahra, Luxury Nile Cruiser

  3. The Oberoi Beach Resort, Sahl Hasheesh, Egypt

  4. The Oberoi Beach Resort,

    Al Zorah#

  5. The Oberoi Beach Resort, Mauritius

  6. The Oberoi Beach Resort, Bali

  7. The Oberoi Beach Resort, Lombok

    1. Trident, Gurgaon

    2. Trident, Agra

    3. Trident, Jaipur

    4. Trident, Udaipur

    5. Trident, Bandra Kurla, Mumbai

    6. Trident Nariman Point, Mumbai

    7. Trident, Bhubaneswar

    8. Trident, Hyderabad

    9. Trident, Chennai

India

  1. New Delhi

#No longer managed by The Oberoi Group w.e.f 1st June, 2025

22 Integrated Annual Report 2024-25 EIH Limited 23



AWARDS



Accolades that inspire

BRAND

Oberoi Hotels & Resorts ranked #2 Hotel Brand in the World by Travel + Leisure,

USA World's Best Awards, 2025

The Oberoi Luxury Nile Cruisers ranked #1 River Cruise Lines in the World by Travel + Leisure, USA World's Best Awards, 2025



THE OBEROI, NEW DELHI

TripAdvisor Travellers' Choice Best of Best Award

TripAdvisor Travellers' Choice Awards, 2024

Best New Restaurant Opening: Dhilli

Travel + Leisure, India and South Asia's Delicious Dining Awards, 2023

India's Top 50 Restaurant: Baoshuan

Conde Nast Traveller, India's Top Restaurant Awards, 2023

Top 15 City Hotels in Asia (Ranked 1st)

Travel + Leisure, USA World's Best Awards, 2022

Top 5 City Hotels in India (Ranked 1st)

Travel + Leisure, USA World's Best Awards, 2022



THE OBEROI, MUMBAI

Favourite Indian Hotel for Service (Winner)

Condé Nast Traveller, India Readers' Travel Awards, 2024

Editor's Choice for Best City Hotel

Travel + Leisure, India & South Asia, India's Best Awards, 2024

Best Bar for a Sundowner: Eau Bar (For two consecutive years)

Travel +Leisure, India and South Asia's Delicious Dining Awards, 2023

Editor's Choice for Best Bleisure Hotel (Domestic)

Travel + Leisure, India & South Asia, India's Best Awards, 2022



THE OBEROI, GURGAON

Featured on the inaugural ranking

World's 50 Best Discoveries, 2025

Best All-Day Dining Restaurant: threesixtyoneo

NDTV Food Awards 2025

Emerging Premium Dining Restaurant: Ziya

NDTV Food Awards 2025

Editor's Choice for Best Emerging Restaurant: ZIYA

Travel + Leisure, India's Delicious Dining Awards, 2024

Top 25 Hotels - India (Ranked 1st)

Trip Advisor Travellers' Choice Awards, 2022

Corporate Overview Statutory Reports Financial Statements



24 Integrated Annual Report 2024-25 EIH Limited 25

Corporate Overview Statutory Reports Financial Statements



THE OBEROI AMARVILĀS, AGRA

Top 5 Resorts in India (Ranked 1st)

Travel + Leisure, USA World's Best Awards, 2025

Featured on The Gold List, 2025

Condé Nast Traveller (Global), 2025

Top 25 Resorts in Asia- Hall of Fame Honouree

Travel + Leisure, USA World's Best Awards, 2024

Top 10 Hotels in India (Ranked 1st)

Conde Nast Traveler, US, Reader's Choice Awards, 2024

Only Indian Hotel Featured In The Inaugural Ranking

World's 50 Best Hotels, 2023

Favourite Indian Hotel For Design (Winner)

Conde Nast Traveller, India Readers' Travel Awards, 2023



THE OBEROI VANYAVILĀS WILDLIFE RESORT, RANTHAMBHORE

Top 5 Resorts in India (Ranked 3rd)

Travel + Leisure, USA World's Best Awards, 2025

Featured on The Gold List, 2024

Condé Nast Traveller, Global, 2024

TripAdvisor Travellers' Choice Best of Best Award

TripAdvisor Travellers' Choice Awards, 2024

Favourite Safari Lodge in India

Conde Nast Traveller, India Readers Travel Awards 2023 (For two consecutive years)



THE OBEROI UDAIVILĀS, UDAIPUR

Top 5 Resorts in India ( Ranked 4th)

Travel + Leisure, USA World's Best Awards, 2025

Featured on the inaugural ranking

World's 50 Best Discoveries, 2025

Featured amongst The 100 Most Incredible Hotels in the World

Fodor's Travel, US, 2025

Featured amongst the Best 100 Hotels in Asia

Tatler Asia, 2024

Editor's Choice for Best Luxury Resort (For two consecutive years)

Travel + Leisure, India & South Asia's Best Awards, 2024

TripAdvisor Travellers' Choice Best of Best Award

TripAdvisor Travellers' Choice Awards, 2024

Featured on The Gold List

Conde Nast Traveller, USA & UK, 2023

Favourite Indian Leisure Hotel

Conde Nast Traveller, India Readers' Travel Awards, 2023

Top 5 Resorts in India (Ranked 1st)

Travel + Leisure, USA World's Best Awards, 2022



THE OBEROI SUKHVILĀS RESORT & SPA, SISWAN FOREST, NEW CHANDIGARH

Favourite Hotel for Weddings in India (Winner)

Conde Nast Traveller India Readers' Travel Awards, 2023

Editor's Choice Award for Best Wellness Retreat in India

Travel + Leisure, India & South Asia India's Best Awards, 2021

Best Destination Spa for International Travellers

Travel + Leisure, India & South Asia India's Best Awards, 2021

26 Integrated Annual Report 2024-25 EIH Limited 27

Corporate Overview Statutory Reports Financial Statements



THE OBEROI BEACH RESORT, MAURITIUS

Honoured with a prestigious 5 star rating

Forbes Travel Guide, 2025

Mauritius' Leading Hotel Villa: Royal Villa with Private Pool

World Travel Awards, 2024, 2023 (For two consecutive years)

Top 25 Hotels: Africa (Ranked 2nd)

Trip Advisor Travelers' Choice Awards, 2022



THE OBEROI, MARRAKECH

Favourite Overseas Leisure Hotel- Winner

Conde Nast Traveller India Readers Travel Awards, 2024

Best Leisure Hotel (Editor's Choice)

Travel & Leisure, India's Best Awards, 2024

Editor's Choice Award for Hotel of the Year

The Gallivanter's Guide, UK, 2024

TripAdvisor Travellers' Choice Best of Best Award

TripAdvisor Travellers' Choice Awards, 2024

The Best Resort in North Africa and the Middle East (Ranked 1st)

Travel + Leisure, USA World's Best Awards, 2023 (For two consecutive year)

Best New City Hotel in the World

Town & Country, USA Best New Hotels around the World, 2023

Editor's Pick for "Best International Room Service"

Food & Wine, USA First Annual Global Tastemakers Awards, 2023

Morocco's Leading Luxury Hotel

World's Best Awards, 2023 (For two consecutive year)

Morocco's Leading Hotel Suite: Royal Suite

World's Best Awards, 2023 (For two consecutive year)

28 Integrated Annual Report 2024-25

EIH Limited 29



Resonance of timeless excellence

We continue to deliver consistently strong RevPAR performance amidst the dynamic growth of travel. Our reputation is built not only on world-class experiences but on a deep understanding of guest expectations, refined through decades of commitment.

This dedication fuels enduring loyalty and sustained growth. With a robust financial position of H1,051 crore, we are poised to invest confidently in the future, expanding our legacy while preserving the elegance, care and excellence that define

The Oberoi experience.





RevPAR MOVEMENT*

OCCUPANCY*

Q4 FY 2023-24

I16,940

Q4 FY 2023-24

84%

Q4 FY 2024-25

I21,241

Q4 FY 2024-25

87%





  • Of EIH owned hotels

  • RevPAR stands for 'Revenue Per Available Room'

EIH Limited 31

30

Integrated Annual Report 2024-25



EXECUTIVE

CHAIRMAN'S MESSAGE

Celebrating the past, embracing the future

Arjun Singh Oberoi

Executive Chairman



Today, The Oberoi name evokes more than just luxury. It stands for excellence in

service, architectural brilliance and

a steadfast commitment to guest-centricity.

32



Integrated Annual Report 2024-25 EIH Limited

Dear Shareholders,

The financial year 2024-25 was a landmark for EIH Limited, as we celebrated 90 illustrious years of The Oberoi Group, a legacy that began with the vision, passion, and perseverance of our founder, Rai Bahadur Mohan Singh Oberoi. His unwavering belief in people and bold entrepreneurial drive laid the foundation for what would become

a defining force in Indian hospitality. From modest beginnings, he reimagined the concept of luxury, creating hotels that seamlessly blended contemporary sophistication with India's rich artistic and cultural heritage. In doing so, he not only elevated the standards of Indian hospitality but also brought it global acclaim, all while nurturing Indian talent and remaining deeply rooted in the values and traditions of our country.

Today, the Oberoi brand signifies more than luxury, it is a benchmark for exceptional service, architectural elegance, and an enduring dedication to the guest experience. With a legacy defined by timeless values and uncompromising standards, and a

portfolio of exceptional properties across the globe, The Oberoi Group continues to honour its storied past while shaping a future of promise and distinction.

In terms of our performance, 2024-25 was a milestone year for the Company as we delivered record financial results, reflecting our long-term vision, strong governance, and unwavering commitment to meeting our guests expectations. With a solid financial foundation, we are well-positioned to

drive strategic growth across key markets while creating sustained value for all our stakeholders.

33

CORPORATE OVERVIEW

Corporate Overview Statutory Reports Financial Statements



EXECUTIVE CHAIRMAN'S MESSAGE

STRATEGIC EXPANSION AND GROWTH PLANS

This has been a landmark year in our growth journey, not only in terms

of performance but also planning our future. EIH Limited has a robust

development pipeline of 21 properties to be completed by 2029, comprising 19 hotels, 2 luxury Nile cruisers.

This expansion includes:

  • 8 hotels to be owned, invested in, and operated directly or through joint ventures by EIH Limited.

  • 13 properties (including the 2 luxury boats and the Nile cruiser) to be managed by The Oberoi Group.

The development pipeline spans

12 hotels in India and 9 international hotels and cruises across London, Egypt, Bhutan, Nepal, and Saudi Arabia. Upon completion, 16 hotels (including the boats and cruiser) will operate under the Oberoi brand, and 5 hotels under the Trident brand, representing a total inventory of approximately 1,473 keys.

This year, the brand expands its presence with the launch of The Oberoi Rajgarh Palace in Khajuraho and two Oberoi Nile Dahabeyas, offering an intimate and ultra-luxurious cruising experience on the Nile. Earlier this year, The Oberoi Vindhyavilas Wildlife Resort opened in Bandhavgarh, bringing international focus to Madhya Pradesh as a luxury wildlife destination.

GLOBAL CONTEXT

The global economy in 2024 delivered a resilient performance, despite uneven growth across countries and sectors.

Inflation showed signs of easing, thanks to central banks' timely interventions through interest rate hikes. Labour markets began to stabilise, with unemployment remaining historically low. Real household incomes improved, supported by strong nominal wage growth and ongoing disinflation.

However, private consumption stayed muted in many regions due to subdued consumer confidence.

Midway through the year, uncertainties emerged, driven by geopolitical tensions and rising concerns over potential tariff escalations. These risks became more pronounced as we entered 2025, casting a shadow on global economic sentiment.

34

Despite global uncertainties, India's GDP is projected

to grow at 6.5%

in FY2024-25, a

testament to robust domestic demand and macro economic stability.

Amid this backdrop, the global hospitality industry staged a remarkable recovery in 2024, nearing pre-pandemic benchmarks. Key performance indicators, including occupancy rates, average daily rates, profitability, and RevPAR, all registered notable improvement, signalling renewed momentum and strong travel demand across markets.

INDIA REMAINED AN OUTLIER

Over the past decade, India has emerged as the fastest-growing major economy in the world. From a GDP of USD 2.1 trillion in 2015 to an estimated USD 4.3 trillion in 2025, the country's economic journey has been rooted in a series of structural reforms, rapid technological progress, and the strength of a young, aspirational population.

The country's focus on digital infrastructure, financial inclusion, and manufacturing has significantly boosted domestic productivity. Its thriving services sector, particularly IT and financial services, continues to be a key engine of growth. Strategic government investments in infrastructure and a growing push for self-reliance across critical sectors have further accelerated the country's economic momentum.

Integrated Annual Report 2024-25



Despite global uncertainties, India's GDP is projected to grow at 6.5 percent in FY2024-25, a testament to robust domestic demand and macroeconomic stability. Inflation has largely remained within the Reserve Bank of India's target range, enabling the central bank to cut interest rates by 100 basis points across three consecutive actions, supporting consumption and unlocking further discretionary spending.

The Union Budget 2025-26 has laid the foundation for sustained growth, with increased allocations for infrastructure and lower income tax rates expected to stimulate both investment and demand.

As we begin the new financial year, India has reached yet another historic milestone, overtaking Japan to become

the fourth-largest economy in the world. With a confident stride into the future, India's growth story is only just beginning.

INDIAN HOSPITALITY SECTOR ON ROBUST GROWTH PATH

The Indian hospitality industry witnessed strong momentum in FY 2024-25, supported by a global rebound in travel and tourism. A sharp rise in international tourist arrivals, coupled with robust domestic air traffic growth, significantly boosted the sector.

The Government of India's continued focus on promoting tourism further strengthens the industry's outlook. The Union Budget 2025 introduced several positive measures, including the expansion of the UDAN scheme, promotion of regional cuisines, and

development of key tourist destinations in collaboration with state governments. These, along with visa liberalisation and destination marketing initiatives, are expected to drive sustained growth.

The sector is poised for further expansion. Key growth drivers include spiritual tourism, live events, cultural and heritage travel, and the MICE segment. The growing appetite for experiential travel, along with ongoing investments in infrastructure, such as new airports and expanding highways, continues to unlock new opportunities. Focus initiatives such as 'Heal in India', aims to strengthen India's position as a global medical tourism hub.

Additionally, a rising ultra-high-net-worth individual (UHNI) base in India, an increase of 11 percent, is fuelling demand for luxury and high-end leisure travel. With inbound tourism expected to grow 15 percent in

FY 2025-26, India's hospitality sector is well-positioned to flourish, buoyed by increased global connectivity, enhanced experiences, and a strong policy push.

Our iconic portfolio of luxury hotels, resorts, and cruisers in premier destinations uniquely positions us to

EIH Limited

capture India's evolving opportunities. Our legacy of excellence ensures memorable guest experiences and sustained value creation for our shareholders, paving the way for continued leadership and success

in the sector.

PROGRESSING SUSTAINABLY

As a pioneer in India's hospitality sector, we are committed to sustainability across all operations. Our focus remains on energy efficiency, water conservation, responsible sourcing, and minimising

our environmental footprint. This year, Elements by Oberoi, an integrated initiative, further strengthened our longterm commitment to environmental stewardship and social responsibility.

We continue to foster a workplace culture built on inclusivity, compassion, and ethical integrity. Our robust governance systems and compliance frameworks ensure that we operate with the highest standards of accountability and transparency.

I wish to acknowledge the dedication and commitment of every member of our organisation for driving our strategic

vision forward. I would also like to extend my sincere appreciation to our Board of Directors for their guidance and to our valued shareholders for their continued trust and support.

As India's dynamic growth unlocks new opportunities, we remain focused on delivering exceptional guest experiences while expanding thoughtfully across priority markets.

We look ahead with confidence, built on strong foundations, distinguished legacy, and an unwavering pursuit of excellence.

Yours sincerely,

Arjun Singh Oberoi

35

MANAGING

DIRECTOR AND

CHIEF EXECUTIVE OFFICER'S

MESSAGE

90 years young

36

Integrated Annual Report 2024-25

EIH Limited



Vikramjit Singh Oberoi

MD and CEO



The year 2024 was a strong and encouraging one for the Indian hospitality industry, buoyed by robust domestic tourism

Dear Stakeholders,

It is with great pleasure that I present the annual performance review for Financial Year 2024-25, a year made special as The Oberoi Group celebrated 90 years of defining luxury hospitality

and showcasing India's rich culture to the world.

I would also like to begin by paying homage to the visionary leadership of our Founder Chairman, Rai Bahadur

M.S. Oberoi, and to everyone who has passionately carried forward his legacy of excellence. We remain committed to ensuring that the Oberoi legacy

continues to flourish for generations to

come.

ATTRACTIVE POSITIONING OF INDIA'S TOURISM SECTOR

The year 2024 was a strong and encouraging year for the Indian hospitality industry. Buoyed by robust domestic tourism, even as corporate travel remained muted during the first quarter on account of the general elections, the industry closed the year

with national occupancy levels averaging 63-65%, average room rates (ARR) in

the range of I7,800-8,000, and revenue per available room (RevPAR) between I5,000-5,200. This represented a healthy 27-29% increase over pre-COVID levels.

India also advanced to 39th place among 119 countries in the World Economic Forum's Travel and Tourism Development Index (TTDI), signalling improved global competitiveness.

37

MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER'S MESSAGE

Despite global headwinds such as geopolitical tensions, recessionary risks, and the impact of elections at home, India's economic resilience remained strong, fuelling a steady increase in travel demand.

Looking to the future, the hospitality sector is poised for further expansion. The rise in high-end leisure travel, fuelled by a growing base of high-net-worth individuals, and the country's expanding middle and upper-middle class, will further positively impact the industry's future.

According to the Government of India, inbound tourism is expected to grow by 15% in FY 2025-26, supported by enhanced global connectivity and India's growing stature internationally. With world-class hotels and a deep commitment to unmatched service, EIH Limited is poised to capitalise on India's vibrant and growing tourism landscape.

MILESTONE PERFORMANCE

FY 2024-25 was a landmark year for EIH Limited. We delivered our best-ever financial performance, an achievement made possible by the relentless commitment of our teams and their focus on operational excellence.

Our revenue stood at I25,353 million, reflecting a 9% growth over FY 2023-24. This represents a 10% year-on-year growth in EBITDA, which rose from I9,109 million to I10,050 million. Profit Before Tax increased by 39% to I9,625 million, and our Profit After Tax grew by 44% to I7,513 million.

38



We saw strong performance across all key business segments. Direct bookings led the revenue mix, while the corporate segment continued its steady upward trajectory, buoyed by India's business and GDP growth. Leisure travel remained buoyant, ending the year on a strong note despite seasonal fluctuations.

Our leadership across all key performance indicators-Market Penetration Index (MPI), Average Rate Index (ARI), and Revenue Generation Index (RGI), reaffirms our position as an industry leader. Across most cities where we operate, we maintained market leadership in Revenue Per Available Room (RevPAR), achieving a strong RGI of 127% against our competitive set. RGI for Oberoi Hotels & Resorts was 135% and 122% for Trident Hotels.

As we look to the future, we remain focused on sustaining this momentum and delivering value to our stakeholders through thoughtful growth, exceptional service, and unmatched experiences.

SUSTAINABILITY IN EVERYTHING WE DO

True luxury is defined by the care with which we serve our guest and equally through our actions towards people, the community and our planet. In an age where conscious travel shapes global conversations, we launched Elements by Oberoi, the Group's holistic environmental and social responsibility framework. Guided by

life-sustaining elements - Earth, Water, and Air, this comprehensive framework

Integrated Annual Report 2024-25

articulates the Group's ambitious goals to further reduce ecological impact, drive operational innovation, and uplift communities.

Anchored in ethical governance and inclusive leadership, we champion responsible hospitality through energy efficiency, water conservation, waste reduction and sustainable sourcing.

Our people are the cornerstone of this journey, empowered through diversity, safety, care, and continual

growth. We believe true luxury coexists with purpose, evident in our heartfelt commitment to community upliftment and social responsibility. ESG principles are deeply embedded across our operations, ensuring environmental stewardship and business integrity go hand in hand. To safeguard precious resources, we have implemented Zero Discharge mechanisms across 16 Indian hotels, select flight services, and at our Corporate Tower. For us, sustainability is not a goal, it is an intrinsic part of who we are.

DRIVING INCLUSIVE GROWTH

Our Corporate Social Responsibility efforts are rooted in compassion and purpose. In FY 2024-25, we worked towards uplifting marginalised families and children, primarily through our longstanding partnership with SOS Children's Villages of India. From supporting family homes and palliative care to upgrading schools and promoting sustainable farming, our initiatives spanned health, education, and the environment. Across our hotels in India and abroad, we engaged in impactful community outreach, from cataract surgeries and vocational training

to mangrove restoration and blood donation drives.

We have outlined a robust expansion strategy, with 21 new properties

in the pipeline by 2029. This includes

19 hotels, two luxury riverboats and a Nile cruiser.

Of these, eight will be owned or co-invested by EIH Limited.

PEOPLE

Our people are the cornerstone of our success. We have developed a culture of growth, inclusivity, and care-empowering individuals through industry leading training practices, growth opportunities,

a culture that embraces the Oberoi Dharma, and holistic support systems. Our vibrant workplace thrives on diversity and equal opportunity, where talent is nurtured without bias. With rigorous safety protocols, a robust human rights framework, and continuous engagement, we create an environment where employees feel valued and protected.

From spirited team events to leadership development, we celebrate excellence at every level. Our purpose is clear: to build a resilient, empowered workforce, driven by values that contributes meaningfully to our legacy of excellence.

LOOKING AHEAD

As we look to the future, our focus remains on sustaining the momentum we have built and continuing to create long-term value for all our stakeholders. For us, growth is more than scale, it is about expanding our legacy of excellence across geographies while staying true to our core values.

We have outlined a robust expansion strategy, with 21 new properties in the pipeline by 2029. This includes 19 hotels and two luxury Nile cruisers. Of these, eight will be owned or co-invested in by EIH Limited.

Our expansion spans both domestic and international markets, including India, United Kingdom, Egypt, Bhutan, Nepal, and Saudi Arabia. Sixteen of these properties will operate under the Oberoi brand and five under Trident, together adding over 1,473 rooms and suites to our portfolio.

EIH Limited



As we broaden our footprint, our commitment to providing exceptional guest experiences remains unchanged. Our every decision, attention to the smallest detail, and choice of destination is guided our guests who are at the heart of everything we do.

I would like to sincerely thank our stakeholders for their continued trust and support. I would also like to extend my sincere gratitude to the Board of Directors for their unwavering guidance, strategic insight and steadfast support through the year.

Yours sincerely,

Vikramjit Singh Oberoi

39

Corporate Overview Statutory Reports Financial Statements

FINANCIAL HIGHLIGHTS

Built on consistency

R in million, except 14, 15, 16 and 17

2015-16

2016-17

2017-18

2018-19

2019-20

2020-21

2021-22

2022-23

2023-24

2024-25

FOR THE YEAR

1

Gross Revenue

14,696

13,768

14,340

16,273

13,343

4,736

9,108

18,358

23,168

25,353

2

Profit Before Tax

1,649

1,279

1,739

1,637

1,091

(4,431)

(1,329)

4,366

6,920

9,625

3

Profit After Tax

1,090

965

1,123

1,133

1,245

-3,431

-1,182

3,202

5,209

7,513

4

Total Comprehensive Income for the

Year

1,025

884

1,051

1,125

1,221

-3,400

-1,174

3,099

5,192

7,517

5

Dividend (Including Tax)

629

514

514

514

0

0

0

688

750

938

6

Retained Earnings

1,507

1,496

1,592

1,777

2,587

-2,232

-34

3,666

5,664

7,813

7

Foreign Exchange Earnings

5,625

4,255

4,355

5,145

4,685

378

1,231

5,380

5,965

7,111

AT YEAR END

8

Gross Fixed Assets

18,993

20,990

24,637

25,243

29,792

30,244

29,455

30,952

32,894

34,996

9

Share Capital

1,143

1,143

1,143

1,143

1,143

1,251

1,251

1,251

1,251

1,251

10

Reserves and Surplus

25,735

26,538

27,016

27,408

28,049

28,006

26,832

29,931

34,435

41,201

11

Net Worth

26,878

27,682

28,159

28,551

29,192

29,257

28,082

31,182

35,686

42,452

12

Bank Borrowings

2,449

2,860

4,293

4,711

4,151

2,784

3,335

565

-

-

13

Capital Employed

27,828

29,382

31,051

31,015

32,198

31,940

30,343

31,747

35,686

42,452

PER SHARE

14

Net Worth per Equity Share

46.43

47.82

48.64

49.32

50.43

46.78

44.91

49.86

57.06

67.88

15

Earnings per Equity Share

1.88

1.67

1.94

1.96

2.15

-5.72

-1.89

5.12

8.33

12.01

16

Dividend per Equity Share

1.10

0.90

0.90

0.90

0.00

0.00

0.00

1.1

1.20

1.5

RATIO

17

Debt: Equity Ratio

0.09:1

0.10:1

0.15:1

0.17:1

0.14:1

0.10:1

0.12:1

0.02:1

0.1

0.1

Notes:

  1. Serial nos. 8,10,11,13,14 and 17 are inclusive of Revaluation Reserve balance as at year end

  2. Figures have been regrouped/rearranged wherever necessary

  3. Figures pertaining to the years 2015-16, 2016-17, 2017-18, 2018-19, 2019-20, 2020-21, 2021-22, 2022-23 and 2023-24 are in accordance with Ind AS while figures pertaining to the years up to 2014-15 are in accordance with previous GAAP

  4. All numbers are basis Standalone Financial Statements

  5. Capital employed represents the sum of net worth, non-current borrowings and current maturities of long term

borrowings

  1. Gross Fixed Assets is represented by gross carrying amount of PPE, ROU, Capital work in progress, Intangibles and Investment Property, as applicable

  2. Debt Equity ratio has been calculated considering bank borrowings as debt (excluding lease liabilities)

  3. Retained Earnings is calculated as Profit after taxes adjusted with

depreciation, dividend and dividend distribution tax

40 Integrated Annual Report 2024-25 EIH Limited 41

Corporate Overview Statutory Reports Financial Statements

DELIVERING PERSONALISED EXPERIENCES

Creating timeless memories

Across our hotels and dining destinations, it is the unscripted, heartfelt moments born from intuition, imagination and care that define our legacy. Whether through a child's joy, a soothing surprise or a culinary innovation, we continue to transform everyday encounters into enduring memories of genuine hospitality and thoughtful excellence.

LITTLE MOMENTS TAKE CENTRE STAGE

During a family stay at one of our hotels, a young guest transformed the writing desk into his easel, filling the hotel notepad with joyful doodles and bursts of creativity. What could have been dismissed as childish mischief was instead embraced with warmth and admiration by our team. Recognising the charm and spontaneity behind those scribbles, the team orchestrated a thoughtful surprise at checkout, a beautifully handcrafted certificate honouring him as "The Guest Icon of the Month for Creative Excellence." This heart-warming gesture turned a fleeting moment into an unforgettable memory, one that reflects our focus on intuitive

hospitality, where every guest, no matter how young, is seen, appreciated and celebrated.

MAGIC OF UNSCRIPTED MEMORIES

At one of our distinguished hotels, a simple doorknob was transformed by two imaginative young guests into a makeshift "mailbox" to send and receive post from our team. With handwritten notes slipped beneath the door, they unknowingly sparked a quiet joy, one that our team warmly received and reciprocated. What began as child's play soon evolved into

a daily ritual of thoughtful exchanges, cultivating an unspoken bond built on creativity and kindness.

As their stay drew to a close, the children were met with a touching farewell, a handcrafted mailbox and personalised keepsakes, lovingly prepared by the team. This small, unscripted gesture turned a fleeting moment into an enduring memory. Moments like these continue to define our legacy of timeless hospitality where every guest interaction, no matter how small, is embraced with warmth, imagination and heart.

INTUITION BECOMES THE FINEST WELCOME

After a day spent exploring the timeless allure of Agra, a guest returned to her suite at one of our exquisite hotels, expecting rest, but discovering something more. Without a word exchanged or a service requested, our team had sensed what she needed most - a moment of calm.

Awaiting her was a warm foot soak, delicately infused with rose petals and bath salts, thoughtfully arranged

alongside a handwritten note inviting her to pause and unwind. No grand gestures. No formalities. Just an intuitive act of care that transformed fatigue into serenity.

At Oberoi Hotels & Resorts, we believe that true luxury lies not in what is asked for, but in what is quietly anticipated.

It is in moments like these - personal, unscripted and deeply human - that our legacy of heartfelt hospitality continues to shine.

42 Integrated Annual Report 2024-25

EIH Limited 43



CULINARY ART FINDS ITS VOICE AT AMADEO

AMADEO by Oberoi redefines the dining experience with The Counter Collection, a symphony of curated micro-concepts inspired by the culinary heritage of Japan, China, Italy and India. Each interactive counter delivers a bold, authentic expression of taste, fusing traditional roots with modern creativity. Located in Mumbai's Bandra Kurla Complex, overlooking the Fountain of Joy, AMADEO is The Oberoi Group's first independent restaurant and a showcase of craftsmanship led by Executive Chef Kayzad Sadri. Celebrated through editor lunches, pop-ups and industry events, AMADEO has not only sparked cultural conversations but also claimed numerous awards for its innovation and immersive excellence.



FOOD AND BEVERAGES

Inspiration in every bite

At the heart of our culinary philosophy lies a focus on making everyday occasions into timeless memories. From seasonal celebrations and creative reinventions to chef-led showcases and vibrant new concepts, we continue to elevate dining experiences with flair. Blending tradition with innovation, we celebrate people, passion and the joy of hospitality, every day.

SERVING SEASONAL STORIES GRACEFULLY

Every occasion becomes a treasured memory across our hotels. Whether it is festive feasts by the sea, romantic dinners under starlit skies, or seasonal soirées with signature cocktails and live music. Our curated experiences are crafted to suit every occasion. From Christmas cheer to Valentine's warmth, we make every moment unforgettable.

REDEFINING CREATIVITY

Innovation remains at the heart of our culinary journey. From Wabi Sabi's refreshed menu featuring Nikkei delights and award-winning sushi, to the elegant Impressionist High Tea and Lapis' transformative fine dining relaunch at The Oberoi, Bengaluru - each concept is thoughtfully crafted to delight. Accolades from Condé Nast and Travel + Leisure affirm our continued focus on excellence.

A splendor unfolds

EVERYDAY GLAMOUR AT COU COU

COU COU by Oberoi is an all-day café thoughtfully crafted for today's fast-paced, cosmopolitan guest. Bringing The Oberoi Group's legacy of warmth, quality and artisanal finesse into daily life, COU COU is a vibrant space where one can work, meet, unwind or simply indulge. From a morning patisserie run to

an evening glass of wine, its European charm and Indian soul blend seamlessly. With soulful menus, chic interiors and personalised service, COU COU is redefining casual luxury. A growing lifestyle destination across India, it is where authentic moments, community connection and modern indulgence beautifully come together anytime, every day.



Ziya at The Oberoi, Gurgaon, led by Michelin-starred Chef Vineet Bhatia MBE, reimagines Indian cuisine with flair and finesse. Marrying timeless traditions with modern artistry, the menu showcases locally sourced ingredients, refined techniques and bold flavours, delivering a fine dining experience that truly shines in every detail.

Integrated Annual Report 2024-25



44 EIH Limited 45



DIGITALISATION

Tech-enhanced guest

experiences

At the heart of our digital transformation is a deep commitment to harness AI for smarter operations and superior experiences. From empowering our workforce with next-gen HR platforms to redefining guest engagement we are integrating intelligent, agile technologies that drive performance, productivity and meaningful human connections.

EMPOWERING OUR WORKFORCE WITH AI-DRIVEN INNOVATION

As part of our digital transformation journey, we rolled out Darwinbox, the world's fastest-growing HCM platform across our operations, bringing intelligent, scalable and India-centric HR technology to the heart of our people strategy. Designed with AI at its core, Darwinbox enables seamless

management of over 40 business units across multiple geographies through 12 integrated HR modules that cover the full employee lifecycle.

What sets Darwinbox apart is its ability to adapt swiftly, enabling policy shifts within 24 hours without any dependency on IT teams. Its mobile-first, lightweight application offers real-time integrations with platforms like Microsoft Teams

and WhatsApp, delivering frictionless HR services on the go. From voice-led analytics and geo-facial attendance to peer-to-peer recognition and instant feedback, every touchpoint is designed for productivity and user delight.

With a consumer-grade user experience inspired by applications like Amazon and Uber, Darwinbox accommodates regional HR frameworks, supports

no-code custom workflows and offers secure app deployment eliminating costly infrastructure needs. As pioneers of the voicebot "Darwin", the platform reimagines HR by simplifying complex processes into natural conversations, making our HR systems not just efficient, but truly future-ready.

Enhancing guest journeys with Oberoi Assist

Oberoi Assist, powered by Glowing.io's AI-driven customer engagement platform, is transforming the way we connect with guests across our hotels-delivering seamless, intelligent and timely interactions throughout the entire guest journey.

From an automated welcome message sent shortly after check-in to smart replies via Messagebox, the platform enables personalised, efficient communication at scale. Guest requests are instantly logged as tickets, with AI supporting real-time responses. Even check-out prompts are automated, ensuring a smooth and thoughtful departure experience.

The growing adoption of Messagebox has led to notable productivity gains and higher guest satisfaction.

Actionable insights from Glowing.io have helped optimise service availability during peak hours, offer mobile room service menus and improve communication around wait times. Frequent spa-related queries have also revealed new opportunities for upselling through pre-arrival notifications.

Glowing.io's suite of AI tools empowers our teams with curated recommendations, faster access to relevant information and deeper guest insights. Looking ahead, future integrations with CRM and marketing systems promise to further enhance the platform's impact. High guest response rates and satisfaction scores speak not only to the tool's effectiveness, but also to our ability

to recover mid-stay service issues-turning every interaction into a moment of delight.

46

Integrated Annual Report 2024-25



Key targets and performance*

Metric

Target

Achieved

Average satisfaction score

9

9.7

AI impact

80%

84%

Average response time

<3 minutes

1 minute

Escalation count

<33%

3.7%

*Aggregated Rajvilas metrics (averaged over 12 weeks) as in November

EIH Limited 47

Heritage nurtured by progress

Since establishing The Oberoi Centre of Learning and Development in 1966, The Oberoi Group has championed the development of Indian talent in hospitality. From imparting world-class training to nurturing cultural pride, the initiative has produced leaders who now shape global hospitality and teach at elite institutions. The Oberoi Centre of Learning and Development (OCLD) continues this legacy, shaping managers, instilling values and reinforcing a distinct service culture admired industry-wide. Guided by empathy and integrity, The Oberoi family's leadership nurtures a culture of guest-first service and people empowerment. This enduring commitment defines the Oberoi experience-timeless, principled and proudly human.

82.47%

Guest net promoter score

EIH Limited 49

48

Integrated Annual Report 2024-25



OPERATING CONTEXT



India's hospitality renaissance

India's hospitality sector is thriving on the back

of soaring domestic travel, a record influx of international visitors, premium segment growth and digital transformation. With sustainability as a core value, we are poised to capture these opportunities through exceptional guest experiences, strategic expansion and innovative, technology-driven solutions.

GROWTH IN PREMIUM HOSPITALITY

Pan-India premium hotel occupancy is set to rise to 72-74% in FY 2025-26, with ARRs growing to H8,200-8,500. These positive trends have pushed RevPAR close to the 2008 peak, expected to reach H5,900-6,300 in FY 2025-26. The outlook remains strong, buoyed by robust demand-supply dynamics in India's thriving premium hospitality sector.

Our response

We stand apart in India's premium hospitality market, renowned for luxury and exceptional experiences. With new properties in the pipeline, we are well-placed to meet evolving domestic and corporate demand.

DIGITALISATION THE HOSPITALITY ECOSYSTEM

The 'Digital India' initiative is revolutionising guest experiences across the hospitality sector. Neurohospitality combines AI and IoT to deliver

bespoke services driven by real-time preferences. Smart room automation, tweaking lighting, temperature and music based on biometric cues

aligns with neuroscience-inspired hospitality trends. The Ministry of Electronics and Information Technology (MeitY) champions these AI-powered advancements, enhancing service quality

in commercial real estate and tourism.**

RESPONSIBLE HOSPITALITY

In the Indian hospitality sector, Environmental, Social and Governance (ESG) principles have become integral. Brands are embracing energy-efficient infrastructure, renewable energy, water conservation and waste management to reduce environmental impact. Social initiatives include fair labour practices, diversity, responsible tourism and community engagement. On the governance front, transparent reporting, ethical practices and robust risk management are core to building

sustainable and responsible operations.

Our response

Sustainability is woven into our Company's ethos. We are making strong progress across ESG metrics by partnering with top consultants to set ambitious sustainability goals and drive meaningful improvements.

12

Domestic hotels in pipeline

SOARING APPEAL

OF DOMESTIC TRAVEL

Domestic tourism has emerged as a vital growth catalyst for India's hospitality sector, with domestic tourist visits forecast to double to 5.2 billion by 2030 from 2.5 billion in 2024, growing at an impressive CAGR of 13.4%. Enhanced connectivity, infrastructure upgrades and rising disposable incomes have spurred this shift, with a notable post-

pandemic preference for local travel over international destinations among Indian tourists.*

Our response

We are well-positioned to leverage this positive sentiment through our existing hotels, which offer exceptional and memorable guest experiences, as well as 12 additional domestic hotels planned until 2029.

*HVS Anarock - India Hospitality

INDIA SHINES IN GLOBAL TRAVEL SURGE

According to the World Travel & Tourism Council, international visitor spend in India hit a record H3.1 trillion in 2024, surpassing the 2019 peak by 9%. The WTTC forecasts another record-breaking year in 2025, with the sector's economic contribution projected to top H22 trillion. By 2035, India's travel and tourism sector is expected to nearly double, reaching nearly H42 trillion.#

Our response

We understand international tourists are captivated by India's heritage.

Our exceptional hotels, located across stunning destinations, provide memorable guest experiences, enhancing our niche positioning and

consistently delivering impressive value and results.

Report # World Travel & Tourism Council

Our response



At EIH, we embrace technology to deliver unforgettable experiences and remain a cut above the rest. From Oberoi Enhance's iPad interface and the thoughtful 'Power of 1,500', to paperless check-ins, AI-powered payment systems and personal touchpoints like tailored

emailers, every initiative underscores our focus on delighting guests and pushing the boundaries of exceptional hospitality.

**CBRE

50 Integrated Annual Report 2024-25 EIH Limited 51

Corporate Overview Statutory Reports Financial Statements

BUSINESS MODEL

Crafting value with purpose

OUR RESOURCES

HOW WE USE IT

THE VALUE WE CREATE

FINANCIAL

J1,560 million

Debt

(including lease liability)

J42,452 million

Equity

MANUFACTURED

29

Hotels

1

Cruise

INTELLECTUAL

Several digital initiatives rolled out

HUMAN

1,680

Training programmes conducted for employees*

SOCIAL AND RELATIONSHIP

J70.66 million

CSR expenditure (for hotels in India)

NATURAL

99,845 GJ

Renewable energy consumed*

2 INCREDIBLE BRANDS

THE OBEROI GROUP IS FOR

OUR OTHER BUSINESSES

  • Oberoi Hotels & Resorts

  • Trident Hotels

  • Our guests

  • Our people

  • Our distinctiveness

  • Our shareholders

  • Oberoi Flight Services

  • Oberoi Airport Services

  • Avis India

  • Oberoi Corporate Centre

  • EIH Aviation

  • Institutional Catering

    OUTPUT

  • Increased shareholder value

  • Financial stability

  • Investments towards growth and expansion

  • Development and transformation strategies

  • Safer workplaces

  • Unmatched luxury hospitality for our guests

  • Improved customer satisfaction

  • Brand prominence

  • More efficient operations

  • Loyal and excellent employees

  • Exceptional services for guests

  • Improved relationships with key stakeholders

  • Long-term sustainability

  • Strides towards resource conservation

  • Ecosystem restoration

OUTCOMES

R25,353 million

Revenue

R7,513 million

Profit After Tax

R10,050 million

EBIDTA

21

Hotels in pipeline

82.47%

Guest Net Promoter Score

2,278

Female employees*

97%

Input material directly sourced from within India for Indian hotels

1,734.60 MT

Waste recycled*

* Includes data for both national and international hotels

52 Integrated Annual Report 2024-25

EIH Limited 53



STAKEHOLDER ENGAGEMENT

Shared growth for lasting impact

Stakeholder engagement process

We deliver maximum value to our stakeholders as we respect that they are integral to our success. We take pride in their growth and actively engage with them to better understand their needs and challenges, cultivating deeper, more meaningful relationships along the way.

Stakeholder Identification

We proactively identify external individuals, groups and institutions who can influence or be influenced by our business operations.

Stakeholder prioritisation

We rank the identified stakeholders on the following grounds:

  • Ability to grant or revoke the social license to operate

  • Influence over other stakeholders of our Company

  • Direct financial dependence

  • Indirect financial dependence

  • Impacted by non-financial impairment or risk from our Company's operation



Purpose of engagement

  • Compliance with laws and regulatory requirements

  • Return on investment/dividend

  • Timely interest and debt repayment

  • Socially/environmentally responsible investment

  • Speedy redressal of grievances

  • Communicate financial and non-financial targets/goals, strategy and progress

    How we engage

  • Annual General Meeting

  • Annual Report

  • Business Responsibility and Sustainability Report

  • Dedicated portal for investors' grievances

  • A separate division specifically

    dedicated to serving investors

  • Investor presentation and investor calls

Frequency of engagement

Purpose of engagement

  • Service quality

  • Differentiation and product

    relevance

  • Digitally enabled and positive experience

  • Safety and privacy

  • Ethical business practices

  • Environmental impact

  • Attention to detail

    How we engage

  • Direct feedback from guests

  • Loyalty programme

  • Real-time social media engagement

  • Market research

  • Feedback through surveys

  • Ads and marketing campaigns

Frequency of engagement

Purpose of engagement

  • Fairness and transparency in the contractual process

  • Competence development of supply chain partners

  • Security in the workplace

  • Timely payment and honouring commitments

  • Long-term association

  • Create a win-win situation

  • Clarity in terms and conditions

  • Operational and resource

    efficiencies

  • Ensuring ethical business conduct

  • Collaborate to create positive environmental and social impact

    How we engage

  • Supplier meets

  • In-person meetings

  • Operational review

  • Contracts and agreements

Frequency of engagement

Purpose of engagement

  • Compliance and taxes

  • Timely responses to queries

  • Anti-corruption

  • Disaster and relief management

  • Policy and advocacy

  • Forging meaningful relationship

    How we engage

  • Continued engagement and representation

  • Quarterly and annual compliance reports

  • Representation through trade bodies

Frequency of engagement

Purpose of engagement

  • Positive, social and economic contribution

  • Long-term support

  • Climate change and other environmental issues

  • Protection and promotion of human rights

    How we engage

  • Community engagement and local community meetings

  • Minimisation of environmental footprint

Frequency of engagement

Investors and shareholders

Guest

Employees

Value chain partner

Local communities and NGOs

Government and regulatory authorities

Purpose of engagement

  • Respect and dignity

  • Non-discrimination and fair treatment

  • Talent management, learning and skill development

  • Career planning and growth

  • Employee satisfaction

  • Work-life balance

  • Positive work environment

  • Health and safety

  • Grievance redressal

  • Soliciting feedback and suggestions

  • Ethical behaviour/statutory compliance

  • Enhancing service delivery

  • Gather valuable insight into guests' experiences

    How we engage

  • Appraisal

  • Monthly newsletters

  • HR online surveys

  • Emails

  • Town hall/open-house meetings

  • Health, Safety and Environment (HSE)

  • Policy communication

  • Portal/intranet

  • Family get-togethers

  • Training and workshops

Frequency of engagement

Q A N



C N



C M H N



C N



C N



N



Q



Quarterly

Half-Yearly

Annually

Need-based

Continuous

H



A



N



C



54 Integrated Annual Report 2024-25

EIH Limited 55

SOCIAL

MATERIAL TOPICS

SDG MAPPING

Customer satisfaction

We prioritise customer satisfaction and strive to achieve it through our exceptional services and our commitment to excellence.

Employee engagement and development

Our employees are the cornerstone of our success, as their professionalism, warmth and sophistication play a vital role in shaping our guests' experience and ensuring their satisfaction.



Employee and customer health and safety

Prioritising the health and safety of both our employees and customers is crucial to our business strategy. We are dedicated to maintaining a safe and secure environment for our employees and guests.

Food quality and safety

We offer our customers luxurious dining experiences, adhering to the highest standards of food safety regulations using selectively sourced ingredients and regular food safety audits.

Community relations

We are committed to building strong relationships with communities where we operate by actively supporting their livelihoods and ensuring access to essential resources.

Supply chain management

We foster close collaborations with our value chain partners to leverage their support for magnifying our sustainable initiatives and promoting adherence to The Oberoi code of conduct.



MATERIAL ISSUES



Decoding what matters











ENVIRONMENT

MATERIAL TOPICS

SDG MAPPING

Energy and emissions

As environmental stewards, we understand the environmental impact of our activities and are actively working to reduce our

carbon footprint.

Water management

We understand the importance of water and prioritise its proper use in our operations.

Climate change

In response to the growing focus on climate action and the risks posed by climate change, we are dedicated towards combating and mitigating the effects of climate change.



Waste management

Implementing effective waste management initiatives is a strategic choice for our Company. Accordingly, we have integrated responsible processes and technologies across our properties.

Impact on biodiversity and nearby communities

We prioritise strict compliance with environmental regulations to ensure environmentally conscious business practices.

We conducted a materiality assessment to gain valuable insights from multiple stakeholders. Over 900 internal and external stakeholders helped us identify important themes and align our activities accordingly.







GOVERNANCE

MATERIAL TOPICS

SDG MAPPING

Corporate governance

Our remarkable reputation is fortified by a robust governance architecture that upholds responsible and ethical conduct throughout our Company

Data privacy and cyber security

We work towards ensuring the utmost protection and privacy of our customers' data.



Risk and crisis management

Our dedication to excellence is reinforced by our proactive approach to risk and crisis management, including combating and mitigating threats posed by climate change.



56 Integrated Annual Report 2024-25 EIH Limited 57

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