ITC Hotels Limited (ITCHOTELS) fair value: what the stock is really worth
As of Oct 9, 2026: fair value of ITC Hotels Limited ₹164, price ₹155, upside +5.9%, quality 60 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 11, 2026.
How to read this chart
20‑month range ₹136.97 – ₹253.09 · fair‑value band ₹98.62 – ₹204.68 · the ₹154.52 price screens below the ₹163.66 fair value. Dashed = 300-day average. As of Oct 11, 2026.
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ITC Hotels Limited owns, operates, and manages hotels and resorts in India and internationally. The company operates under the ITC Hotels, Mementos, Storii, EPIQ Collection, Welcomhotel, Fortune Hotels, and WelcomHeritage brands. It also owns and operates golf club under the Classic Golf & Country Club name.
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ITC Hotels Limited owns, operates, and manages hotels and resorts in India and internationally. The company operates under the ITC Hotels, Mementos, Storii, EPIQ Collection, Welcomhotel, Fortune Hotels, and WelcomHeritage brands. It also owns and operates golf club under the Classic Golf & Country Club name. The company was founded in 1975 and is based in Gurugram, India.
Stock analysis
ITC Hotels Limited (ITCHOTELS) currently trades at ₹154.52, while our model-based Fair Value estimate is ₹163.66, so the stock looks roughly fairly valued today (gap 5.6%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹129.74 per share, and 1 of the 24 models we run sit above the ₹154.52 price.
Bear case: the Economic Profit group reads lowest at ₹35.82, and 23 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: ₹98.62 (bear) to ₹204.68 (bull), the price of ₹154.52 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 60/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
ITC Hotels Limited reported revenue of ₹41.1B in FY2026 versus ₹22.2B in FY2024, a compound +35.9%/yr. Reported net income was ₹8.2B in FY2026, compounding +39.2%/yr from FY2024.
Key figures
Market cap ₹322B (≈ $3.3B) · P/E ratio 37.1 · P/S ratio 7.38 · EPS (TTM) ₹4.16 · Net margin 19.9% · Return on equity 7.3% · Return on assets (EBIT) 6.6% · Operating margin 20.1%.
What moves the price
The share trades about 31% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 53% fair-value upside, at 6%, ITCHOTELS screens richer than that median.
Fair Value models
Bear ₹98.62Fair Value ₹163.66Bull ₹204.68
Price ₹154.52 · Upside +5.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹2.22 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: only 3 usable fiscal years, at least 4 required
not computed
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+31.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+12.1%
Yearly sales growth analysts expect, extended to five years.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +26.4% a year for the price and +7.7% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Resorts & Casinos · 71 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside+5.9% · Below median
Profitability
Return on equity (TTM)7.3% · Above median
Return on assets4.9% · Above median
Net margin (TTM)20.3% · Top 25%
Operating margin (TTM)20.1% · Top 25%
Growth and dividend
Revenue growth14.8% · Top 25%
Dividend yield (TTM)0.0% · Bottom 25%
Valuation Multiplesvs Resorts & Casinos median · lower = cheaper
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Is ITC Hotels Limited (ITCHOTELS) overvalued or undervalued?
As of Oct 11, 2026, our model estimates a fair value of ₹163.66 versus a price of ₹154.52, about +6% upside (fairly valued).
What is the fair value of ITCHOTELS?
Our model-based fair value for ITC Hotels Limited is ₹163.66 (as of Oct 11, 2026), built from audited fundamentals. The current price: ₹154.52.
What is the quality score of ITCHOTELS?
ITC Hotels Limited has a Quality Score of 60/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for ITC Hotels Limited (ITCHOTELS)?
Our model-based price target is the fair value of ₹163.66 (as of Oct 11, 2026) from 24 valuation models. Cautious scenario ₹98.62, optimistic scenario ₹204.68. It is a calculation from audited fundamentals, not an analyst target.
What is the ITC Hotels Limited stock forecast for 2026?
Our models put fair value at ₹163.66, about +6% upside versus a price of ₹154.52 (fairly valued). Cautious scenario ₹98.62, optimistic scenario ₹204.68. The calculation is refreshed regularly with new filings.
What is the revenue of ITC Hotels Limited (ITCHOTELS)?
ITC Hotels Limited reported trailing-twelve-month revenue of about ₹42.6B (latest available figure, as of Oct 11, 2026).
What growth is priced into ITC Hotels Limited (ITCHOTELS)?
For today's price to be fair in a discounted-cash-flow model, ITC Hotels Limited would have to grow free cash flow by +31.6 % per year for five years (discount rate 12.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 2 years revenue grew +35.9 % per year. As of Oct 11, 2026.
What discount rate (WACC) does the fair value of ITCHOTELS use?
Our models discount ITC Hotels Limited at 12.4 %: a base by market capitalisation (mid), country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For ITC Hotels Limited that is +31.6 % per year a year over ten years, using the same discount rate (12.4 %) and the same formula as our fair value.
How much growth has ITC Hotels Limited (ITCHOTELS) delivered so far?
Over the past 2 years revenue at ITC Hotels Limited grew +35.9 % a year. The price currently implies +31.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of ITC Hotels Limited (ITCHOTELS) growing?
The median revenue growth in the sector is +6.8 % a year. That is the yardstick for the growth priced into ITC Hotels Limited (+31.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of ITC Hotels Limited (ITCHOTELS)?
The free-cash-flow yield on the price is 2.17 %: that much free cash flow ITC Hotels Limited produces per unit of market value. When it exceeds the discount rate of our models (12.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of ITC Hotels Limited (ITCHOTELS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ITC Hotels Limited it is ₹163.66 per share (as of Oct 11, 2026), against a price of ₹154.52. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is ITC Hotels Limited stock overvalued or undervalued in 2026?
As of Oct 11, 2026, ITCHOTELS trades below its calculated fair value: price ₹154.52, fair value ₹163.66, a gap of about +6% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ITCHOTELS?
No. The price is what the market pays today (₹154.52); the fair value is what the company's own numbers justify (₹163.66). For ITC Hotels Limited the two are ₹9.14 per share apart. That gap is exactly why we show both numbers side by side.
How much is ITC Hotels Limited worth?
The market values ITC Hotels Limited at about ₹322B (market capitalisation, as of Oct 11, 2026). Per share that is ₹154.52; our models calculate a fair value of ₹163.66 per share.
What do the bullish and bearish scenarios say about ITCHOTELS?
Our models span a range for ITC Hotels Limited: cautious scenario ₹98.62, base ₹163.66, optimistic ₹204.68 per share (as of Oct 11, 2026, price ₹154.52). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ITCHOTELS?
ITC Hotels Limited trades at a price-to-earnings ratio of 37.1 (as of Oct 11, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹163.66 is built from several models across several years. Other multiples: P/B 2.8, P/S 7.6, EV/EBITDA 21.9.
How solid is the balance sheet of ITC Hotels Limited (ITCHOTELS)?
Balance-sheet figures for ITC Hotels Limited (as of Oct 11, 2026): return on equity 7.3%. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is ITCHOTELS from its 52-week high?
ITC Hotels Limited trades at ₹154.52, about 31% below its 52-week high of ₹222.80 and 13% above the low of ₹136.97 (as of Oct 9, 2026). Distance from the high says nothing about value: that is what the fair value of ₹163.66 is for.
Which stocks are comparable to ITC Hotels Limited?
From the same area (Consumer Cyclical) we also value Las Vegas Sands Corp, Galaxy Entertainment Group, Sands China Ltd, Wynn Resorts, Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is ITC Hotels Limited stock attractive at the current price?
The data as of Oct 11, 2026: price ₹154.52, calculated fair value ₹163.66 (+6%), Quality Score 60/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ITCHOTELS calculated?
We run ITC Hotels Limited through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹163.66, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.9 % above its aggregate fair value. ITC Hotels Limited currently trades 6 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of ITC Hotels Limited (ITCHOTELS)?
The closing price on Oct 9, 2026 was ₹154.52. Our model-based fair value is ₹163.66, about +6% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ITC Hotels Limited right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (₹98.62 to ₹204.68) leaves room in how you read the outcome.
Key figures of ITC Hotels Limited
How large is the market capitalisation of ITC Hotels Limited (ITCHOTELS)?
The market capitalisation of ITC Hotels Limited is ₹322B (≈ $3.3B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of ITC Hotels Limited (ITCHOTELS)?
The price-to-sales ratio of ITC Hotels Limited is 7.38 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of ITC Hotels Limited (ITCHOTELS)?
Earnings per share at ITC Hotels Limited are ₹4.16 (price ÷ EPS = P/E 37.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of ITC Hotels Limited (ITCHOTELS)?
The net margin of ITC Hotels Limited is 19.9% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of ITC Hotels Limited (ITCHOTELS)?
The return on equity (ROE) of ITC Hotels Limited is 7.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of ITC Hotels Limited (ITCHOTELS)?
On an EBIT basis the return on assets of ITC Hotels Limited is 6.6% (avg 3y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of ITC Hotels Limited (ITCHOTELS)?
The operating margin of ITC Hotels Limited is 20.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ITC Hotels Limited (ITCHOTELS)?
Revenue at ITC Hotels Limited is growing +14.8% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at ITC Hotels Limited (ITCHOTELS)?
Earnings per share at ITC Hotels Limited are growing +35.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does ITC Hotels Limited (ITCHOTELS) carry?
The net debt of ITC Hotels Limited is ₹390M (fiscal year 2026, ≈ 0.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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