10thFebruary 2026
The National Stock Exchange of India Limited Exchange Plaza, 5thFloor Plot No. C/1, G Block Bandra Kurla Complex, Bandra (East), Mumbai - 400 051 Code: EIHOTEL | BSE Limited Corporate Relationship Dept., 1stFloor, New Trading Ring, Rotunda Building, Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai - 400001 Code: 500840 |
Sub: Unaudited Standalone and Consolidated Financial Results for the quarter ended 31stDecember 2025
Dear Sir / Madam,
The Board of Directors of the Company, at its meeting held today, i.e., 10thFebruary 2026, has approved the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended 31st December 2025.
We are enclosing the following:
Standalone and Consolidated Financial Results of the Company in the prescribed format under Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations");
Limited Review Report for the Unaudited Standalone and Consolidated Financial Results.
The Board meeting started at 04:00 P.M. and concluded at about 6.15 P.M. The above may please be taken on record.
Thank you,
Yours faithfully,
For EIH Limited
LALIT KUMAR
Digitally signed by LALIT KUMAR SHARMA
Date: 2026.02.10
LSaHliAt KRMumAa1r8:S18h:0a9 r+0m5'3a0' Company Secretary
CIN: L55101WB1949PLC017981
Corporate Office: 7, Sham Nath Marg, Delhi - 110 054, India/ Telephone: +91 - 11- 2389 0505 / Website:https://www.eihltd.com, Email: isdho@oberoigroup.com
Registered Office: N-806-A, 8th Floor, Diamond Heritage Building, 16, Strand Road, Fairley Place, Kolkata - 700001
Deloitte Haskins & SeIIsLLPChartered Accountants 7th Floor Building 10 Tower B
DLF Cyber City Complex DLF city Phase II Gurugram-122 002 Haryana, India
Tel: +91 124 679 2000
Fax: +91124 679 2012
INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS
To The Board of Directors of
EIH Limited
We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of EIH Limited ("the Company"), for the quarter and nine months ended December 31, 2025 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations"}.
This Statement, which is the responsibility of the Company's Nlanagement and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India (ICAP). A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBt (Listing Obligations and Disclosure Requirements} Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
Place: Mumbai
Date: February 10, 2026
For Deloitte Haskins & Sells LLP
Chartered Accountants
(Firm's Registration No. 117366W/W- 100018)
Alka Chadha
Partner
(Membership No. 93474)
(UDIN : 26093474DNNKWC8489)
Regd. Office: One |nternational Center, Tower 3, 31st floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai 400 01 3, Maharashtra, India. Deloitte Haskins & Sells LLP is registered with Limited Liability having LLP identification No: AAB-8737
0
0
0
Registered Omce ; N-806•A, VIII Floor, Diamond Heritage D tiiNding, 16, Strand Rond Feirley Plece, Kolkata - 700 00 1, Indie Phone: 9I-33-224 86751 Fas : 91 -33-22486785
Websile: https://www.eihl1d.coin Email ID : isd^°O•8••'z •°p *•>
CIN : D55 10 I WD I949PLC01798 i
Statement of Standalone financial Results for the Quarter and Nine months ended 31st December 2025
3 raonths
ended 3f.T2.2025
3 months
ended 30.09.2025
3 months
ended 31,12.2024
ended
ended
31.I 2.2024
ended 3t.03.2025
I iicome
a) Revenue front opcraiions
778.97
530.33
695.39
I ,838. I
1,672.05
2,399.B7
b) Ofher- income Tolet Intome
JI.09
4 I . 18
26.96
I 24.62
105.80
I 35.42
8I 0,06
53 I.55
722.35
1,952.'73
I ,777.85
2,535.29
a) Consumption ofprovisions, cvilies and ofhers
74.20
5fl.47
62.70
j fi4.2 I
226.BR
b) Employee benefits expense
143.02
135, 10
l2G.13
405.70
3G2.39
4fi].p9
o) fiinance costs
3.9I
3.70
3.97
i i .32
I 1.79
I S.57
d) Deyizciat ion and amorlisalion expense
33.85
3I.47
3I .3g
95.64
93.8 I
t23.82
£%03
634.32
c) Ofher expenses
237.64
20I .G9
58 I
BI ] 44
Total expenses
492.G2
â30.43
428.Z2
9.TO
P 'ofit before ezcegtlonal Sterne and tex
31744
8.41
294.13
6 g.00
(6.24
865. 59
Exceptional items (Role 4)
Proflt liefore 1as
.09
(2.08
( 13I .00
9G.90
288.35
149.53
29105
487.00
557.60
96Z.4g
Tnx expense
a} Current tax
b) Deferred lax
79.55
IO 29
40.07
5.99
5'7.31
15.0 i
t3O.84
17.6Z
188. I4
M.07
Profit for the perlad / yeer
198.51
103.d7
219.73
336.34
?51.26
Other eonprehenslye lneome / (lose)
Items tbat sitI oot be reclassified to profit or loss
Total other comprehensive income / (loss) for One period /
(0.46)
(0.0fi)
(2.52)
0.97
(1.36)
0.2t
0.92
(4.09)
0.74
o.s i
(0. 13
‹I.Ts)
(3.35)
0.38
venr. net of' tax
Totel comprehensive income for the perlod f year
T97.99
10t.92
218.5R
336.4t
47€16
Pat d-up equity shere capital {Face Value - Rs. 2 cach)
Orher e9ulty
} 35.O'7
IzS.07
Earnings per •n "r •^• • t'• Rupees) (Face Voice Rs. 2
each) {Note 6)
(a) Basic tb) Dil1ted
3. 17
3. I '/
L66
1.66
3.fi2
3.52
s.4i
6.7l
6.7l
I 2.0I
12 01
Re-measurements oF the defined benefit plans
Tax relating to Ilteso items
(fts. in Crores)
)
F or Identification Only
Deloit e Ha skin s & Se II s LLP
Notes to the Statement of Standalone Financial Results:
These Financial Results have been prepared in eccordance with the recognition and measurement principles leid down in Indian Accounting Standard ("Ind AS") 34, 'Interim Financial Reporting' prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and Ihe other accounting principles generally accepted in India,
The Company has no reponable segments other than hotels as per the Indian Accounting Standards.
Mashobra Resort Limited ('MRL'), a subsidiary of the Company till 31st March 2025, had acquired ownership of the Wildflower Hall property in 1997, pursuant to a joint venture agreement between EIH Limited ('Company') and the Government of Himachal Pradesh ('State') in 1995. A long-standing dispute between the JV partners culminated in an order dated 20th February 2024 by the Hon'ble Supreme Court of India, directing to vacate and handover the hotel to the State by 31 st March 2025.
In compliance with the above order, the vacant and peaceful possession of the hotel was handed over to the State on 31st March 2025. The shares of MRL held by the Company were agreed to be transferred to the Government of Himanchol Pradesh at a valuation to be fixed by the Hon'ble High Court.
Pursuant to the loss of control of the Company over MRI on 31 st March 2025, the Company had re-assessed the aforesaid investment at estimated fair value and had continued to classify the said inVestment as 8n 'assets classified as held for sale'. Pending determination of the valuation of MRL shares by the Hon'ble High Court, in view of the uncertainty, and having regard to the contingencies, the Company had considered it prudent to restrict the aforesaid estimate to Rs. 141.21 crores considering its share of the un-audited carry ing amount of net assets in MRL as at 31 st March 2025. The resultant difference of Rs. 115.21 crores was credited to the Statement of Profit and Loss for the year ended 31st March 2025 under Exceptional items.
Putsuant to the order ofHon'ble High Court ofHimachal Pradesh dated 2nd June 2025, adjudicating the claims/ counterclaims of the parties, the Company has:
adjusted the value of its investments in MRL to Rs. 13.00 crores and continued to classify the same as 'assets classified as held for sale'.
the advances recoverable from MRL, amounting to Rs.136.19 crores as ct 31 st March 2025, have been written down to Rs. 68.09 crores, representing 50% of the total outstanding amount.
reversed obligation towards user fees (including interest) to the extent of Rs. 85.99 crores as no longer payable.
The net impact of above, aggregating to Rs. 110.32 crores, was charged to Profit and Loss and included under Exceptional items during the quarter ended 30th June 2025.
Pursuant to the Hon'ble High Court's order dated l4tli October 2025, the obligation towards user fees and interest thereon amounting to Rs. 4.59 crores was no longer payable and was accordingly reversed. Further, the Company had recorded an interest income amounting to Rs 3.82 crores on the amount deposited with the Registrar. These amounts aggregating to Rs. 8.41 crores were included under Exceptional Items in the Financial Results during the quarter ended 30th September 202â.
During the quarter ended 31 st December 2025, the shares held by the Company in MRD has been transferred in favour of the State upon receipt of compensation as per the directions of the High Court. As per the order of Hon'b1e High CourtofHimachal Pradesh dated 5th January 2026, the proceedings ere closed and the execution petitions stand disposed
F or identification Only
Deloie H a Shins & SellS LLC
Net exceptional t,ain/ (loss):
(Rs. in crores)
3 months
ended 31.12.2025
Unauditea
3 months
ended 30.09.2025
un »ab‹d
3 months
ended 31.12.2024
Unaudited
9 months
ended 31.12.2025
Unaudited
9 months
ended 3t.12.2024
Unaudited
Year
ended 31.03.2025
Auditea
Loss on de-recognition of property
plant and equipment at The Oberoi Grand, Kolkata pursuant to closure of hotel for major renovation.
(9.96)
Obligation recognised towards
user fees for use of property (Wildñower Hall), including interest, pursuant to an application filed by EIH Limited with the Hon'ble High Court (refer note 3)
(2.08)
(6.24)
(8.36)
Fair value change on re-
measurement of investment in equity shares ofMRL(refet note 3)
115.21
Adjustment pursuant to the order
of Hon'ble High Court dated 2nd June 2025 (refer note 3)
(I 10.32)
Adjustment pursuant to the order
of the Hon'b1e High Court dated l41h October 202S (refer note 3)
8.4t
8.4 I
Impact pursuant to the enactment
of the Labour codes (refer note 5)
(29.09)
(29.09)
Net Exceptional gain/ (loss)
t29.09)
8.41
(2.08)
(131.00)
(6.24)
96.90
On 21st November 2025, the Government of India notified provisions of the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safely, Health and Working Conditions Code, 2020 (collectively referred to as the "Labour Codes"), which consolidate multiple existing labour laws into a unified framework governing employment and post-employment benefits.
The Company has assessed the financial implications of these ch8nges and, pursuant to such assessment, recognised an incremental obligation of Rs. 29.09 crores on account of increase in employee benefit liabililies arising from past service. Considering the impact is arising from enactment of the new legislation and its non-recurring neture, the said amount has been presented under Exceptional Items in the Financial Results during the quarter and nine months ended 31st December 2025.
The Company continues to monitor developments relating to the Labour Codes, including issuance of further rules, clarifications or amendments, and will evaluate and account for the impact, as applicable, in the periods in which such developments occur.
Earnings per sh8re are not annualized ezcept for the year ended 31 st March 2025.
Figures have been regrouped or rearranged, wherever necessary.
The above Financial Results were reviewed by the Audit Committee and approved by the Board of Directors at its Meeting held on 1Olh February 2026. The Statutory Auditors have carried out a limited review of the aforesaid results.
Mumbai
I0th February 2026
For Identificat on OnIy
Deloitle Haskins & Sells
VIKRAMJIT SI H OBEROI
Managing Director and ChiefExecutive Omcer
(DIN: 00052014)
DeloitteHaskins & Sells LLP
Chartered Accountants 7th Floor Buj|ding 10 Tower B
DLF Cyber City Complex DLF City Phase I) Gurugram-122 002 Haryana, India
Tel: +91 124 679 2000
Fax: +91 124 679 2012
INDEPENDENT AUDITOR'S REVIEVU REPORT ON REV]EVV OF INTERIM CONSOLIDATED FINANCIAL RESULTS
To The Board of Directors of EIH Limited
We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of EIH LimiCed ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), and its share of the net profit after tax and total comprehensive income of its associates and joint ventures for the quarter and nine months ended December 31, 2025 ("the Statement") being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations"}.
This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.
We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of Parent's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.
The Statement includes the results of the following entities: Parent:
EIH Limited
Subsidiaries:
Svara Hotels Limited (Name changed w.e.f. November 6, 2025, formerly known as
Mumtaz Hotels Limited)
Oberoi Kerala Hotels and Resorts Limited
Regd. Office: One International Center, Tower 3, 31st floor, Senapati Bapat Marg, Elphinstone Road (West , Deloitte Haskins & Sells LLP is registered with Limited Liability having LLP identification No: AAB-8737
-400 013, Maharashtra, India.
DeloitteHaskins & Sells LLP
EIH International Ltd
EIH Holdings Ltd
PT Widja Putra Karya
PT Waka Oberoi Indonesia
PT Astina Graha Ubud
EIH London Investments Limited
Associates
EIH Associated Hotels Limited
La Roseraie De L'altas
Usmart Education Limited
3oint Ventures
Avis India Mobility Solutions Private Limited
Oberoi Mauritius Ltd (including its subsidiary, Island Resort Limited)
We did not review the interim financial information of six subsidiaries included in the consolidated unaudited financial results, whose interim financial information reflect total revenues of Rs. 41.40 crores and Rs. 121.89 crores for the quarter and nine months ended December 31, 2025 respectively, total net profit after tax of Rs. 11.54 crores and Rs. 18.92 crores for the quarter and nine months ended December 31, 2025 respectively and total comprehensive income of Rs. 11.03 crores and Rs, 18.10 crores for the quarter and nine months ended December 31, 2025 respectively, as considered in the Statement. The consolidated unaudited financial results also includes the Group's share of loss after tax of Rs. 2.07 crores and Rs. 0.06 crores for the quarter and nine months ended December 31, 2025 respectively and total comprehensive loss of Rs. 2.07 crores and Rs. 0.06 crores for the quarter and nine months ended December 31, 2025 respectively, as considered in the Statement, in respect of one joint venture and one associate, whose interim financial information has not been reviewed by us. This interim financial information has been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, joint venture and associate, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above.
Certain of these subsidiaries/associate/joint venture are located outside India whose financial information have been prepared in accordance with accounting principles generally accepted in their respective countries and which have been reviewed by other auditors under generally accepted auditing standards applicable in their respective countries.
Deloitte Haskins & Sells LLPThe Company's management has converted the financial information of such subsidiaries/associate/ joint venture located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have reviewed these conversion adjustments made by the Company's management. Our conclusion in so far as it relates to such subsidiaries/associate/ joint venture located outside India is based on the report of other auditors and the conversion adjustments prepared by the management of the Company and reviewed by us.
Our conclusion on the Statement is not modified in respect of these matters.
The consolidated unaudited financial results includes the interim financial information of one subsidiary which has not been reviewed by their auditor, whose interim financial information reflect total revenues of Rs. 0.03 crores and Rs. 0.08 crores for the quarter and nine months ended December 31, 2025 respectively, total net profit after tax of Rs.
0.00 crores and Rs. 0.00 crores for the quarter and nine months ended December 31, 2025 respectively and total comprehensive income of Rs. 0.00 crores and Rs. 0.00 crores for the quarter and nine months ended December 31, 2025 respectively as considered in the Statement. The consolidated unaudited financial results also includes the Group's share of loss after tax of Rs. 0.00 crores and Rs. 0.00 crores for the quarter and nine months ended December 31, 2025 respectively, and total comprehensive loss of Rs. 0.00 crores and Rs. 0.00 crores for the quarter and nine months ended December 31, 2025 respectively, in respect of one associate, as considered in the Statement, based on their interim financial information which have not been reviewed by their auditors. According to the information and explanations given to us by the Management, these interim financial information are not material to the Group.
Our conclusion on the Statement is not modified in respect of our reliance on the interim financial information certified by the Management.
Place: Nlumbai
Date: February t0, 2026
For Deloitte Haskins & Sells LLP
Chartered Accountants
(Firm's Registration No. 117366W/W-100018)
Alka Chadha Partner
(Membership No. 93474)
(UDIN: 26093474ZKPIPST4844)
Registered Office : N-806-A, 8IIi •Inor, Diaino›ifi heritage Building, 1 6, Sfraud Road, Foirlty Piace, Kolkata - 700 001 IIionc : 91-33-2248635 I Fax: 9I -33-22486785
Websit4: https://www.eihItd.cont Kmail ID : isdho( joberoigroug.com CU : LV 510IWB 1949T'LC0 1798 I
Statement of Consolidated Financial Results for the Quarter and Nine months ended 31st December 2025
Perlicolere
3 months
ended
3 t. I 2.2025
Unaudited
3 most hz
eiI‹leñ
30.09.2025
Unaudited
3 monk he
ended 3 T. 2.2024
JnaudTted
9 montha
ended 3 t. 12.2025
Unaudited
9 montGs
ended 31.12.2034
Unauditetl
Year ended
3I .03.2025
Audited
+i) Revenue Fro J operations
g72.89
597.94
TOO.17
2,044.4 I
I ,915.70
2,743. 15
h) Other income
37.14
34.36
31.01
107.38
97.97
I3G.36
Total income
910.03
632.30
83 t. IB
2, t SI.'79
2,0t 3.67
2,679.51
Expenses
a) Consumption oFproyisio ts, wines and ol]jers
? 8.80
62,66
68.29
199.99
178.87
246.61
b) Eii4ployce bcncfiIs expense
! 54.81
4G.68
139.95
440.36
401.79
544.53
5.6 I
5.54
5.98
I6.97
15.50
21.35
d) Depreciation and amortisation expense
3G.64
34.S9
34. 17
104.59
101.49
134.47
e) Oflier expenses
263.03
234.8G
235.i'/
3I4.2G
668.81
fi34.98
Tates expenses
538.89
484.33
483.66
t,476.17
1,366.46
1,tl81.94
Profit heFore exceptional {deme, share of net grofit / (toss) of aesocle tee and }olnt
3'71.14
347.62
675.62
647.2I
997.57
ventures eccounteé For using equity method and tnz
Share oFnet profit of associates and joinI ventures accounlett for using equity nelhod
i s.€2
I8.66
34.#J
32.02
SB.77
Profit before czecptlonaI ittms and tax
389.36
t58,02
866.GB
712.45
679.23
Exceplionnl items {Note 5)
(3000)
8.4 I
(2.0g
(132.08)
(6.£4]
(28.36)
359.76
166.43
364.20
580.3'7
ñ7t99
T,027.98
Tax expense
a) Current tax
89.72
GB.96
45.43
I 3fi.01
223
bj Deferred laz
I T29
16.41
26.75
25.70
34.93
Profit for tne period I year
254.35
238.83
408.19
508.28
?69.90
Other contgrelteasive income / (loss)
A } tenth thqI will not be reclassified to groftt or loss
- Share of other comprehensive income / tloss) of associaies and joint
0.14
(0.23
(D07
(0.I I )
(0.06)
(O.45)
ventures accounted for using the equity method
- ke-measurements oFIIe defined benefit plans
(0.4J
(2.SS)
(l.2d)
(2.85)
(3.7
0.66
- Tax dialing to these items
(0.09)
I .03
0.26
0.95
0.7d
(009
B Items list may be recfeesTfte4 to graft or Toss
- Exchange differences on translation of Foreign operations
12.81
26.G2
(1.73)
54.75
5.05
8.70
Total other comprehensive lncorae / (Toss) for the ge'lod / year, net of taz
12.39
24.88
(2.79
fi2.'74
I .98
Total comgrehenslve Income For the perlad / year
2d7.T 4
276.04
460.93
243.03
I I .Y2
113.77
2.79
390.66
17.53
48fi.5 I
£1.77
3g45
30,45
Offer comprehensive income f {loss) attrltiutable to:
t2.07
0.32
24. 12
0.'76
(£.I9)
(0.60)
51.21
1.53
1.43
0.15
8.8tI (0.06
Total comprehensive income aHributable to:
a) Owners of ElH Limiied
23S.10
M7.89
262.26
441.87
48'7.g4
'748.33
b) Non-controlling interests
13.78
19.06
22.32
30.39
Pald•up equlty shere caplf at ('ace Value - Re. 2 each)
1IE07
25.03
125.07
t25.07
1Zd.07
Ofher equity
r,arnlngs per eqnity share attr butable to owners of ttie Company (I n Rupect)
44#7.77
Fsce Value Rs 1 tflote 7)
( i ) Busie
(2) Diluted
3.89
3.89
i.xz
4.23
4.23
6.25
6.25
7.GB '7.7k
I I .g2 I .82
Owners of EIH Limited
Non-conlmlliog interests
0 men °fElH Limited
Non-confroll ing interests
For Identification Only
Deloitte Has k in s & S eIls LLP
Notes to the Statement of Consolidated Financial Results:
These Financial Results have been prepared 1r accordance with the recognition rind measurement principles laid down in Indian Accounting Standard ("Ind AS") 34, 'Interim Financial fteporting' prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and the other accounting principles generally accepted in India.
The Company and its siibsidimies have no reportable segments other than hotels as per the Indian Accounting Standards.
Mashobra Resort Limited ('MRL'), a subsidiary of the Company till 3 1st March 2025, had acquired ownership of the Wildflower Hall property in 1997, pursuant to a joint venture agreement between EIH Limited ('Company') and the Government of Himachal Pradesh ('State') in 1995. A long-standing dispute between the JV partners culminated in an order dated 20th February 2024 by the Hon'ble Supreme Court ofIndia, directing to vacate and handover the hotel to the State by 31 st March 2025.
Following the Supreme Court's ruling on 20th February 2024, which allowed the Company to maintain possession and management of the proper-ty until 31 st March 2025, EIH continued to exercise control over MRL up to the date of handover, in accordance with Ind AS 110, Consolidated Financial Statements.
In compliance with the above order, the vacant and peaceful possession of the hotel was handed over to the Stute on 31st March 2025. The shares of MRL held by the Company were agreed to be transferred to the Goveriunent of Himaiichal Pradesh at a valuation to be fixed by the Hon'ble kligh Court,
Pursuant to the loss of control of the Company over MRL on 31st March 2025, the Company de-recognised the assets and liabilities of MRL from the consolidated financial statements and had measured the investments in MRL at estimated fair value and had classified the said investment as an 'assets classified as held for sale'. Pending determination ofIhe valuation ofMRL shares by the Hon'ble High Court, in view of the uncertainty, andhaving regard to the contingencies, the Company considered it prudent to restrict the aforesaid estimate to Rs. 141.21 crores considering its share of the un-audited carrying amount of net assets in MRL as at 31st March 2025.
Pursuant to the order of Hon'ble High Court of Himachal Pradesh dated 2nd June 2025, adjudicating the claims/ counter-claims of the parties, the Company has:
adjusted the value of its investments in MRL to Rs. 13.00 crores and continued to classify the same as 'assets classified as held for sale'.
the advances recoverable from MRL, amounting to Rs.136.19 crores as at 31st March 2025, have been written down to Rs. 68.09 crores, representing 50% of the total outstanding amount.
revel sed obligation towards user fees (including interest) to the extent of Rs. 85.99 crores as no longer payable.
The net impact of above aggregating to Rs. 1I 0.32 crores was charged to Profit and Loss and included under Exceptional items during the quarter ended 30tli June 2025.
Pursuant to the 1-ton'ble High Court's order dated 14th October 2025, the obligation towards user fees and interest thereon amoulating to Rs. 4.59 crores yas no longer payable and was accordingly reversed. Further, the Coiripany had recorded an interest income aiaiounting to Rs 3.82 crores on the amount deposited with the Registrar. These amounts aggregating to Rs. 8.41 crores were included under Exceptional Items in the Financial Results during the quarter ended 30th September 2025.
During the quarter ended 31st December 2025, the shares held by the Company in MRL has been transferred in favour of the State upon receipt of compensation as per the directions of the High Court. As per the order ofHon'ble High Court of Himachal Pradesh dated 5th January 2026, the proceedings are closed and the execution pctitions stand disposed off.
Svara Hotels Limited (formerly Mumtaz Hotels Limited), a subsidiary of the Company, hadrecognised an impairment loss of Rs.10.05 crores during the year ended 31 st March 2025 in respect of capital work in progress for its hotel project at Tirupati, following a communication from lessor indicating likely substitution of the originally allotted land. An additional charge of Rs. 0.26 crores and Rs. 0.43 crores has been recorded upon sun'ender of the original lease for the quarter and nine-month ended on 3 l st December 2025 respectively.
A net sain of Rs. 0.26 crores was also recognised oli derecognition of the associated Right-of-Use asset and lease liability, These gains and losses have been presented under Exceptiolaal Items in the €inane' Results for the respective
For Identification Only
Net exceptional gain/ (loss):
(Rs. in Crores)
Particulars
3 months
endea
31.12.2025
Unaudited
3 months
»a»a
30.09.2025
Unaudited
3 months
ended
31.12.202d
Unaudited
9 months
ended
31.12.2025
Unaudited
9 months
ended
31.12.2024
Unaudited
Year
ended
31.03.2025
Audited
Loss on de-recognition ofproperty
plant and equipment at The Oberoi Grand, Itolkata pursuant to closure of hotel for major renovation
(9.96)
Obligation recognised towards
user fees for use of property (Wildtlower Hall), including interest, pursuant to an application filed by EI£I Limited with the
Hon'ble High Court (refer note 3)
(2.08)
(6.24)
(8.35)
Adjustment pursuant to the order
of Hon'ble High Court dated 2nd June 2025 (refer note 3)
(110.32)
Adjustment pursuant to the order
of the Hon'ble High Court dated 14th October 2025 (refer note 3)
8.4 I
8.41
Impact in relation to hotel project
at Tirupati, Andhra Pradesh (refer note 4
(0.17)
(10.05)
Impact pursuant to the enactment
of the Labour codes (refer note 6)
(30.00)
(30.00)
Net Exceptional gain/ (loss)
t30.00)
8.41
(2.08)
(132.08)
(6.24)
(28.36)
On 21st Novemt›er 2025, the Government of India notified provisions of the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively referred to as the "Labour Codes"), which consolidate multiple existing labour laws into a unified framcwork governing employment and post-employment benefits. .
The Group has assessed the financial implications of thcse changes and, pursuant to such assessment, recognised an incremental obligation of Rs. 30.00 crores on account of increase in employee benefit liabilities arising from past service. Considering the impact is arising from enactment of the new legislation and its non-recurring nature, the said emount has been presented under Exceptional Items in the Financial Results during the quarter and nine months ended 31st December 2025.
The Group continues to monitor developments relating to the Labour Codes, including issuance of further rules, clarifications or amendments, and will evaluate and account for the impact, as applicable, in the periods in which such developments occur.
Earnings per share are not annualized except for the year ended 31 st March 2025. Figures have been regrouped or rearranged, wherever necessary.
9. The above Financial Results were reviewed by the Audit Committee and approved by the Board of Directors at its Meeting held on 10th February 2026. The Statutory Auditors have carried out a limited review of the aforesaid results.
Mumbai
l0th February 2026
VI nAMJI'F SINGH OBEROI
Managing Director and Chief Executive Officer
(DIN: 00052014)
F o r Identifi cation OnIy
Deloitte Haskins & SeIIs LLP