Please find enclosed the copy of the transcript of the IHCL Global Conference Call (Earnings Call) held on May 11, 2026.

IHCL delivered its 16th consecutive quarter of record performance in Q4 FY26. Consolidated revenue grew 14% YoY to INR 2,845 crores with EBITDA of INR 1,052 crores (37% margin). For full year FY26, consolidated revenue reached INR 9,971 crores (+16%) and EBITDA INR 3,477 crores (+16%), with PAT crossing INR 2,000 crores for the first time. Stand-alone EBITDA margin expanded by 120 basis points to 45.1%. The company highlighted its capital-light strategy with 68% of operating portfolio and 93% of pipeline under managed formats, strong liquidity of INR 4,300+ crores, and 630+ hotels with 31,000+ keys in pipeline. New businesses (Ginger, Qmin, Ama) grew 25% to INR 753 crores. Management guided for 12-14% revenue growth in FY27 with 60+ hotel openings, citing resilient domestic demand offsetting West Asia conflict impact of INR 40-50 crores on consolidated revenue.