5321892025-10-012025-12-315321892025-12-315321892025-04-012025-12-315321892025-10-012025-12-31in-capmkt:OtherExpenses1Member5321892025-04-012025-12-31in-capmkt:OtherExpenses1Member5321892025-10-012025-12-31in-capmkt:ReportableSegments1Member5321892025-10-012025-12-31in-capmkt:ReportableSegments2Member5321892025-10-012025-12-31in-capmkt:ReportableSegments3Member5321892025-10-012025-12-31in-capmkt:ReportableSegments4Member5321892025-10-012025-12-31in-capmkt:ReportableSegments5Member5321892025-04-012025-12-31in-capmkt:ReportableSegments1Member5321892025-04-012025-12-31in-capmkt:ReportableSegments2Member5321892025-04-012025-12-31in-capmkt:ReportableSegments3Member5321892025-04-012025-12-31in-capmkt:ReportableSegments4Member5321892025-04-012025-12-31in-capmkt:ReportableSegments5Member5321892025-10-012025-12-31in-capmkt:ReportableSegments1Member5321892025-10-012025-12-31in-capmkt:ReportableSegments2Member5321892025-10-012025-12-31in-capmkt:ReportableSegments3Member5321892025-10-012025-12-31in-capmkt:ReportableSegments4Member5321892025-10-012025-12-31in-capmkt:ReportableSegments5Member5321892025-04-012025-12-31in-capmkt:ReportableSegments1Member5321892025-04-012025-12-31in-capmkt:ReportableSegments2Member5321892025-04-012025-12-31in-capmkt:ReportableSegments3Member5321892025-04-012025-12-31in-capmkt:ReportableSegments4Member5321892025-04-012025-12-31in-capmkt:ReportableSegments5Member5321892025-10-012025-12-31in-capmkt:ReportableSegments1Member5321892025-12-31in-capmkt:ReportableSegments1Member5321892025-10-012025-12-31in-capmkt:ReportableSegments2Member5321892025-12-31in-capmkt:ReportableSegments2Member5321892025-10-012025-12-31in-capmkt:ReportableSegments3Member5321892025-12-31in-capmkt:ReportableSegments3Member5321892025-10-012025-12-31in-capmkt:ReportableSegments4Member5321892025-12-31in-capmkt:ReportableSegments4Member5321892025-10-012025-12-31in-capmkt:ReportableSegments5Member5321892025-12-31in-capmkt:ReportableSegments5Member5321892025-10-012025-12-31in-capmkt:ReportableSegments1Member5321892025-12-31in-capmkt:ReportableSegments1Member5321892025-10-012025-12-31in-capmkt:ReportableSegments2Member5321892025-12-31in-capmkt:ReportableSegments2Member5321892025-10-012025-12-31in-capmkt:ReportableSegments3Member5321892025-12-31in-capmkt:ReportableSegments3Member5321892025-10-012025-12-31in-capmkt:ReportableSegments4Member5321892025-12-31in-capmkt:ReportableSegments4Member5321892025-10-012025-12-31in-capmkt:ReportableSegments5Member5321892025-12-31in-capmkt:ReportableSegments5Member5321892025-10-012025-12-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15321892025-04-012025-12-31ItemsThatWillNotBeReclassifiedToProfitAndLoss1iso4217:INRiso4217:INRxbrli:shares532189ITDCNAINE353K01014INDIA TOURISM DEVELOPMENT CORPORATION LIMITEDMain BoardEquity2025-04-012026-03-312026-02-092026-02-03INRLakhsQuarterlyThird quarterMulti segment2026-02-0915:30:002026-02-0918:05:00Not applicable2025-10-012025-12-31UnauditedConsolidated18477590007818000019259390008167790000025733600043030001791700044532600015416610003842780000384278000122582000-199020001026800000281598000-2008000-498000-15100000280088000790000280878000280604000-516000281394000-516000857694000103.283.28-0.02-0.023.263.26Notes: <BR> 1 The Groups' Consolidated Financial Results for the Quarter ended December 31, 2025 are as per the notified Indian Accounting Standards (Ind AS) under the Companies (Indian Accounting Standards) Rules, 2015 (as amended) under Section 133 of the Companies Act, 2013. These Consolidated Financial Results including report on Operating Segment were placed before the Audit Committee in their meeting held on February 9, 2026. At present, there is only one Independent Director in the Company, hence, the quorum of audit committtee is not as per provisions of SEBI LODR, which requires atleast two Independent Directors. The Company is regularly following up with its Administrative Ministry for appointment of requisite number of Independent Directors in the Company. <BR> <BR> Due to not having the required quorum in audit committee, the consolidated financial results were forwarded to the Board of Directors. The same were approved by the Board of Directors, in their meeting held on February 9, 2026. <BR> 2 The financial results have been limited reviewed by M/s HDSG & Associates, Chartered Accountants as required under Regulations 33 of SEBI (Listing and Disclosure Requirement) Regulations, 2015. <BR> 3 The Financial Results of the Subsidiary Companies, i.e., Punjab Ashok Hotel Company Ltd., Ranchi Ashok Bihar Hotel Corporation Ltd. and Utkal Ashok Hotel Corporation Ltd. are not limited reviewed by Auditor and are duly certified by management. The same are incorporated in the Financial Results accordingly. <BR> 4 Pursuant to a decision of the Government of India, it was decided that the Ministry of Tourism will examine the proposal for Sale/ Lease of Hotel Properties of the Company including Properties of Subsidiary Companies. In the cases where Hotel properties are located on State Govt Leased Land and the State is reluctant to extend the lease and allow it to be sub-leased to the private party, then the property may be offered to the State Govt at its officially valued price. According to this decision the process of disinvestment is carried on as under: <BR> a. Hotel Ashok: <BR> DIPAM has appointed Transaction Advisor for studying lease terms & conditions of land, explore the possibilities of giving Hotel Ashok on operation & management (O&M)/ Sub-leasing and optimum utilisation of vacant/ unused land in Hotel Ashok-Samrat Complex. <BR> <BR> Recently meeting was held with Niti Aayog wherein it was discussed to go through PPPAC route. IIT Roorkee has been engaged for conducting a detailed structural analysis of hotel building for checking the remaining life. Report on Structural analysis by IIT Roorkee has been received. <BR> <BR> Draft PPPAC documents, i.e., Memorandum for PPPAC Committee along with Draft Concessionaire Agreement (DCA), Draft Request for Proposal (RFP) and Draft Request for Qualification (RFQ) have been received from the Consultant and the same will be put up to the Board for consideration and approval. <BR> <BR> Draft Agenda for appointment of International Property Consultant (IPC) for Hotel Ashok was sent to MoT on 01.12.2025 requesting for calling of IMG. D.O. letter sent on 04.12.2025 in this regard. <BR> b. Hotel Janpath: <BR> Ministry of Tourism (MoT) has communicated vide their letter dtd. June 14, 2017 to ITDC that “the Cabinet Committee on Economic Affairs (CCEA) in its meeting held on May 24, 2017, has in-principle approved the proposal of the MoT for transferring the property of Hotel Janpath (Managed Property since owned by MoUD) to the Ministry of Urban Development (MoUD) and for compensating ITDC for loss of business opportunity with disputed liability to be sorted out.” The final amount of compensation for loss of business opportunity is under consideration in MoT. <BR> <BR> The operations of Janpath Hotel, New Delhi was closed on October 31, 2017 and Land & Building of the Hotel has been handover to MoHUA (erstwhile MoUD) on May 16, 2019. <BR> c. Kosi Restaurant: <BR> The operation of Kosi Restaurant, a unit managed by the Company had been closed on October 31, 2017. The Ministry of Tourism has been requested to take possession of the Restaurant building. Meanwhile, notice was received from the office of Ziledaar, Apar Khand Agra Naher, Mathura stating that Department of Irrigation, Mathura is the owner of the land on which ITDC was running Kosi Restaurant. ITDC vide letter dated September 4, 2024 requested Minsitry of Tourism to take over the Kosi property subject to U.P. Govt. waiving the penalty/fines etc. in connection with the notices received and ITDC will waive the security expenses etc. incurred by it for safety and maintenance of the property. <BR> d. Hotel Kalinga Ashok, Bhuvaneshwar: <BR> RFP floated in 2017, 2018 and 2019 but remained unsuccessful. IMG in the meeting held on March 6, 2020 decided to retender with revised selection criteria. In the IMG meeting held on March 4, 2021, TA presented the revised selection criteria. IMG directed the ITDC officials to do the road show with the revised parameters and apprise of the result/ inputs. Roadshow has been conducted and report from TA was presented to the IMG in the meeting held on September 7, 2021. IMG decided that a letter may be sent to the State Government seeking permission for sub-leasing of property and for increasing the lease tenure for developing the property on PPP model. Meeting was held with State Govt. and State Govt. reiterated the concerned fee for sub leasing permission. The IMG decided that if State Govt. is interested to take back the property, the matter may be discussed with the State Govt. <BR> <BR> IMG was apprised that in the meeting held on September 6, 2022 between the Chief Secretary, Odisha and MD-ITDC, ITDC was requested to send the terms & conditions for transfer of land and building of Hotel Kalinga Ashok to the Govt. of Odisha. IMG directed that Govt. of Odisha and ITDC to discuss mutually on the terms of transfer and apprise the result to the IMG in the next meeting. <BR> Proposal from TA (M/s CBRE) regarding terms of transfer of property were approved by ITDC Board in its meeting and a letter was sent from Secretary (Tourism) to Chief Secretary (Odisha). Reply is awaited.In the Board Meeting held on February 13, 2025, Board advised that if Govt. of Odisha is not responding to the decision of the IMG for taking over properties in Odisha at mutually decided value, ITDC may move the proposal to the IMG to develop these properties commercially through private party and may approach to Odisha Govt. to buy the leased land of these properties to get the unfettered rights on the land. In this connection, ITDC may consult the existing TA M/s CBRE. Accordingly, M/s CBRE was approached and they had visited the properties in the first week of April, 2025. Report from M/s CBRE is awaited.Revised date for IMG meeting is to be received from the MoT. <BR> e. Investment in Subsidiary Companies: <BR> The process of disinvestment/ divestment is going on in respect of: Hotel Pondicherry Ashok, Puducherry and Hotel Neelanchal Ashok, Puri. <BR> f. Investment in Hotel Project - Hotel Anandpur Sahib, Anandpur Sahib - Subsidiary Company: <BR> In the IMG meeting held on 22.09.2022, IMG approved the Valuation of Rs.79,39,257/- for transfer 51% equity of ITDC in the Punjab Ashok Hotel Company Limited to the PTDC/Govt. of Punjab. The Share Transfer Agreement will be executed after the CCEA/AM approval and receipt of funds from the Punjab Government. <BR> <BR> MoU for transferring the equity to the Punjab Govt. signed on 14.02.2023. Revised Draft CCEA Note sent to the MoT on 06.10.2023 for further action. <BR> CCEA Note was circulated by the MoT for inter ministerial consultations. DIPAM advised for taking approval of Alternative Mechanism (AM) instead of CCEA Note. Accordingly the note for Alternative Mechanism was sent to MoT on 28.03.2024. Revised note for AM was sent to MoT on 07.02.2025. <BR> <BR> Ministry of Tourism vide its OM dated 26.09.2025 has conveyed the approval of Alternative Mechanism (AM) dated 15.09.2025 for transfer of 51% shareholding of ITDC in Punjab Ashok Hotel Company Ltd. to the Govt. of Punjab/PTDC. In this connection, the approval of AM along with the Draft Share Transfer Agreement (STA) has been sent to PTDC vide email dated 10.11.2025. Some observations received from Govt. of Punjab which have been replied back. <BR> g. Investment in Hotel Ranchi Ashok, Ranchi (RABHCL) - Subsidiary Company: <BR> MoU for transfer of 51% equity stake of ITDC in RABHCL to Govt. of Jharkhand signed on November 24, 2020. Consideration for an amount of ` 942.51 lakh has been received on December 28, 2020 including settled price of ` 306.00 lakh, against investment in shares. <BR> <BR> VRS was offered thrice and out of 32 employees, presently there are 4 employees, the rest have taken VRS/ Super Annuated. Salaries and other terminal benefits of employees are due, i.e., ` 218.41 lakh as at December 31, 2025. Employees of the Hotel had been repeatedly threatening of self immolation with their families due to non receipt of their legitimate dues. <BR> Upon request from Subsidiary company, ITDC has disbursed loan of ` 1264.17 lakhs to clear the outstanding dues of employees. Dues upto June 2022 have been cleared. A proposal for the fourth time VRS for remaining employees of RABHCL has been sent to the MoT vide letter dated February 23, 2023 for approval, which is under process. Loan and all other dues of ` 1,124.43 lakh are receivable upto December 31, 2025 (` 1029.83 lakh upto March 31, 2025). <BR> DIPAM advised for taking approval of Alternative Mechanism (AM) instead of CCEA Note. As advised by MoT, Note for approval of AM was received on July 15, 2025. A Committee has been constituted to calculate the total dues to be taken from the Govt. of Jharkhand for transfer of 51% shareholding of ITDC in RABHCL. After receipt of dues from the Govt. of Jharkhand, share transfer agreement will be executed. The financial statements of RABHCL have been incorporated treating the same as Subsidiary for the period ended December 31, 2025. <BR> <BR> Letter dated January 5, 2026 was sent to Govt. of Jharkhand requesting for clearance of dues and approval of Share Transfer Agreement. <BR> 5 Hotel Jammu Ashok: <BR> 40 years lease period of the land expired in January 2010. ITDC had first requested for an extension in February 2007. ITDC repeatedly requested State Government for renewal but the renewal of land lease remained pending with the State Government. <BR> <BR> Govt. of J & K vide letter dated March 20, 2020, informed about non-renewal of lease and resumption of land by the State Govt. Pursuant to the Board decision, Operation of Hotel was closed on June 17, 2020 and employees were offered VRS. Those who did not opt VRS, were adjusted in other units of ITDC. <BR> <BR> Matter was pursued with the State Govt. for taking possession of the Hotel after payment of compensation in accordance with clause 3 (ii) of the lease deed. In the IMG meeting held on September 22, 2022, IMG approved the Valuation for transfer of all property, plant and equipment items constructed by ITDC on the leased land on “As is where is basis”. The same was agreed by Govt. of J & K. <BR> MoU with Govt. of J & K signed on February 9, 2023. Approval of DIPAM for Alternative Mechanism (AM) has been received through MoT on September 22, 2025. Board was informed of the same. Draft Transfer Agreements will be sent to the Govt. of J & K for approval. After receipt of funds, hotel will be transferred to J & K Govt. with execution of Transfer documents. Administrative expenses pertaining to Hotel Jammu Ashok had been considered as a part of discontinued operations in the financial statements for the quarter ended December 31, 2025. <BR> <BR> MoT has circulated the Draft CCEA Note for Inter Ministerial Consultations. DIPAM advised to take approval of Alternative Mechanism (AM) in place of CCEA. Approval of DIPAM received through MoT on 22.09.2025. Matter was placed before the ITDC Board in the meeting held on 23.09.2025. Board noted the approval of AM. <BR> <BR> Draft Transfer documents sent to Govt. of J & K on 10.11.2025 requesting for payment of consideration amount and approval of Draft Transfer documents. D.O. letter sent on 19.11.2025 for expediting. <BR> 6 ITDC's merger with Kumarakruppa Frontier Hotels Pvt. Ltd.:ITDC Board in its meeting held on December 12, 2019 has accorded in-principal approval to the merger of Kumarakruppa Frontier Hotels Pvt. Ltd. (KFHPL) with ITDC. ITDC has requested Ministry of Tourism (MoT) vide letter dated December 30, 2019 to consider the proposal for onward approvals from DIPAM, Ministry of Finance/ CCEA, etc. MoT vide letter dated September 14, 2020 requested DIPAM, Ministry of Finance to grant approval in connection with merger of KFHPL with ITDC. The Matter is still under consideration at end of MoT/DIPAM. <BR> 7 Private Licencees of Hotel and Catering Units of ITDC, i.e., Hotel Ashok (New Delhi), Hotel Samrat (New Delhi) and Taj Restaurant (Agra) had made request for waiver of licence fees for the lockdown period during F.Y. 2020-21. Keeping in mind the business scenario and considering the impact on cash flow, bills were not generated against most of the Private Licensees amounting to ` 1,292.59 lakh upto September, 2020 and hence, not considered in the Financial Results. ITDC Board discussed that the grievances of Licences are genuine but it is also a fact that ITDC is a commercial organization and has been paying taxes, charges etc. despite lockdown without any exemption being granted to ITDC by any Statutory Organization. The matter is referred to MoT for their consideration. <BR> 8 The Company identifies suppliers registered under the MSME Act, 2006, by obtaining confirmation from all suppliers at the time of tender and information has been collated only to the extent of information received. <BR> 9 Earning per share is not annualized for the quarter ended December 31, 2025, September 30, 2025, and December 31, 2024. <BR> 10 Details of shareholders who have not claimed dividend for F.Y. 2024-25, 2023-24, 2022-23 and 2018-19 have been given on the ITDC website under Investor Corner. Further details of shareholders who have not claimed dividend for last seven consecutive years and whose shares have been transferred to the IEPF, have also been given in the ITDC website under Investor Corner. For claiming the unclaimed dividend and unclaimed shares, shareholders are requested to contact immediately: <BR> Compliance Officer: Mr. V. K. Jain at ITDC HQ address <BR> Email : vkjain@itdc.co.in; Mobile No. 9650444533 <BR> 11 Figures of the previous reporting periods have been re-grouped / re-classified wherever necessary to correspond with the figures of the current reporting period. <BR> 12 The Government of India has notified four new Labour codes, subsuming 29 existing labour legislations, with effect from 21.11.2025. There is no material impact from the enactment of New Labour Codes, 2025 on the financial results of the Company in the current period. Also, the Company continues to monitor the finalization of Central/State Rules and clarifications from Government on other aspects of the Labour Codes and would provide appropriate accounting effect on the basis of such developments, in case needed.2025-04-012025-12-31UnauditedConsolidated391013900020078900041109280001360037000007241150001200100052320000121685600033653290007455990000745599000215251000-148640002003870000545212000-5565000-1384000-41810000541031000440000541471000544170000-3139000544610000-3139000857694000106.366.36-0.05-0.056.316.31Other Expenditure445326000Other Expenditure1216856000Hotel Division1012248000International Trade Division36296000Travels &Tours35003000Engg,Consultancy Projects10713000Event Management, Hospitality & Tourism Management Institute & Others862514000Hotel Division2581707000International Trade Division107934000Travels &Tours126820000Engg,Consultancy Projects38032000Event Management, Hospitality & Tourism Management Institute & Others12873020001956774000414179500019567740004141795000Hotel Division314578000International Trade Division-1745000Travels &Tours-3533000Engg,Consultancy Projects3581000Event Management, Hospitality & Tourism Management Institute & Others98395000Hotel Division629426000International Trade Division1112000Travels &Tours4296000Engg,Consultancy Projects1844000Event Management, Hospitality & Tourism Management Institute & Others1400600004112760007767380001439300025379000396883000751359000Hotel Division1287351000International Trade Division150427000Travels &Tours804415000Engg,Consultancy Projects273798000Event Management, Hospitality & Tourism Management Institute & Others5286663000780265400007802654000Hotel Division1816121000International Trade Division65163000Travels &Tours637503000Engg,Consultancy Projects440631000Event Management, Hospitality & Tourism Management Institute & Others1045139000400455700004004557000(i) Items that will not be Reclassified to Profit or Loss11710001171000(i) Items that will not be Reclassified to Profit or Loss966000966000381000526000790000440000