Source: India Tourism Development Corporation Limited 61st Annual Report FY 2025-26.
Quick Facts / Company Snapshot
| Data Point | Disclosed Value / Detail |
| Official Company Name | India Tourism Development Corporation Limited |
| Corporate Identity Number (CIN) | L74899DL1965GOI004363 |
| Ownership / CPSE Status | Central Public Sector Enterprise (CPSE) under Ministry of Tourism |
| Incorporation Year | 1965 |
| Reporting Period / Financial Year | FY 2025-26 (61st Annual Report) |
| Revenue from Operations | ₹527.43 Cr |
| Total Income | ₹558.35 Cr |
| Profit Before Tax (PBT) | ₹114.01 Cr |
| Profit After Tax (PAT) | ₹84.02 Cr |
| Earnings Per Share (EPS) | ₹9.85 |
| Net Worth | ₹461.61 Cr |
| Recommended Dividend | 29.5% (₹2.95 per share) |
| DPE MoU Rating | ‘Very Good’ |
| Core Operating Verticals | Hotels, Ashok Events, ATT, AITD, Engineering/SEL, IHM Ashok |
| Flagship Hospitality Assets | The Ashok, Hotel Samrat |
| Asset Monetization Pipeline | National Monetization Plan 2.0 (NMP 2.0) |
| Statutory Auditors | M/s HDSG & Associates |
| Secretarial Auditors | M/s Chandradip Bharati & Associates |
| CSR Contribution | ₹1.92 Cr (allocated to PMNRF) |
| MSME Procurement Achievement | 41% of total procurement |
Source: India Tourism Development Corporation Limited 61st Annual Report FY 2025-26.
Company Overview
India Tourism Development Corporation Limited (ITDC) operates as a premier Central Public Sector Enterprise (CPSE) under the administrative control of the Ministry of Tourism, Government of India. Established in 1965, ITDC was conceived to construct, develop, and manage national tourism infrastructure, providing hospitality, travel, and event services across the country.
The corporation’s 61st Annual Report for FY 2025-26 highlights robust overall performance, underpinned by strong profitability, debt-free operational reserves, and high compliance standards. ITDC posted a Revenue from Operations of ₹527.43 Cr and a Total Income of ₹558.35 Cr for the reporting period.
Key Operational & Governance Metrics:
- Net Worth: Reached ₹461.61 Cr, reflecting sustained equity build-up.
- Profitability: Generated a Profit Before Tax (PBT) of ₹114.01 Cr and Profit After Tax (PAT) of ₹84.02 Cr.
- Shareholder Value: Dividend of 29.5% recommended, amounting to ₹2.95 per share.
- Governance Standard: Rated ‘Very Good’ under the Department of Public Enterprises (DPE) Memorandum of Understanding (MoU) evaluation framework.
During FY 2025-26, ITDC marked a significant milestone with its 60th/70th Twin Anniversary celebrations. To modernize operations and improve institutional transparency, the company rolled out an upgraded governance manual suite, including the Procurement Manual 2026, Sound & Light Show (SEL) Manual 2026, and standardized General Clauses Templates.
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Business Segments
ITDC structures its operational footprint across six specialized core business divisions. These segments provide a diversified revenue model spanning direct hospitality, state event logistics, travel management, seaport retail, engineering consultancy, and professional hospitality education.
Core Business Segment Architecture:
- Hotels Division: Manages flagship state-owned luxury hospitality assets.
- Ashok Events Division: Executes major national and international government conferences, summits, and institutional events.
- Ashok Travels & Tours (ATT): Operates ticketing, tour handling, and governmental transport logistics.
- Ashok International Trade Division (AITD): Manages duty-free retail operations across designated seaports and airports.
- Engineering / Sound & Light Show (SEL) Division: Provides turnkey engineering solutions and Sound & Light show installations.
- Institute of Hotel Management Ashok (IHM Ashok): Conducts academic and professional training in hospitality management.
+-----------------------------------------------------------------------+
| INDIA TOURISM DEVELOPMENT CORPORATION (ITDC) |
+-----------------------------------------------------------------------+
|
+------------------+-----------+-----------+------------------+
| | | |
+-------+ +---------------+ +---------------+ +-------+
|Hotels | | Ashok Events | | Travels & | | AITD |
|Div. | | Division | | Tours (ATT) | |(Duty- |
+-------+ +---------------+ +---------------+ | Free) |
| | | +-------+
+------------------+-----------+-----------+------------------+
|
+-------------------+
| Engineering / SEL |
| & IHM Ashok |
+-------------------+
While individual segment-wise financial splits are not separately disclosed in the provided source summary, overall revenue from operations stood at ₹527.43 Cr. Each division plays a distinct role in executing the corporation’s dual mandate of commercial sustainability and public policy support.
Hotels Division
The Hotels Division represents the foundational core of ITDC’s hospitality footprint. The division focuses on managing landmark properties, including flagship luxury units in New Delhi such as The Ashok and Hotel Samrat.
The segment is undergoing major restructuring under the National Monetization Plan 2.0 (NMP 2.0). Property upgrades, facility modernizations, and room renovations were executed during FY 2025-26 to drive higher average room rates and occupancy metrics.
Ashok Events Division
Ashok Events operates as the specialized event management arm of ITDC. It manages end-to-end logistics, venue design, protocol management, and execution for high-profile governmental summits, institutional exhibitions, and international conferences.
The division relies on strict compliance guidelines, benefiting from the newly introduced Procurement Manual 2026 to ensure transparent, rapid vendor selection and cost-effective venue delivery.
Ashok Travels & Tours (ATT)
Ashok Travels & Tours provides nationwide travel logistics, airline ticketing, protocol travel services, and institutional fleet management. ATT caters extensively to Ministries, Central Public Sector Enterprises, and public institutions.
During the financial year, ATT expanded its digital booking integration and streamlined client-facing corporate travel portals to improve booking turnarounds and administrative efficiency.
Ashok International Trade Division (AITD)
AITD handles ITDC’s duty-free retail division, maintaining operations across selected Indian seaports and airports. The segment supplies international travel merchandise, electronics, and luxury consumer goods to inbound and outbound international passengers and maritime crews.
Engineering / Sound & Light Show (SEL) Division
The SEL Division offers specialized engineering, architectural design, and execution consultancy for Sound & Light shows at cultural, heritage, and historical monuments across India.
The release of the Sound & Light Show Manual 2026 during the financial year established updated technical guidelines and standardized engineering contracts for new heritage lighting and projection projects.
Institute of Hotel Management Ashok (IHM Ashok)
IHM Ashok represents ITDC’s educational vertical, offering specialized skill development and hospitality management training programs.
In FY 2025-26, ITDC introduced a modernized brand logo for IHM Ashok, aligning the educational institute’s identity with modern hospitality standards and technical curricula.
History and Evolution
ITDC was incorporated in 1965 by the Government of India to lead the creation and expansion of India’s commercial tourism infrastructure. Over six decades, ITDC developed network assets across key metropolitan centers, heritage destinations, and state capitals.
1965: ITDC Incorporated as a Central Public Sector Enterprise
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1970s–1990s: Nationwide Network Expansion (Hotels, ATT, Duty-Free)
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2000s–2010s: JV Hotel Partnerships with State Tourism Boards
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FY 2025-26: Execution of NMP 2.0 Asset Monetization & Divestments
As private sector hotel chains expanded, the Government of India initiated strategic restructuring and asset monetization programs for ITDC. Under National Monetization Plan 2.0 (NMP 2.0), landmark assets like The Ashok and Hotel Samrat are slated for long-term private leasing and redevelopment, shifting ITDC toward operational efficiency and asset-light management models.
Key Milestone Highlights (FY 2025-26):
- 60th/70th Twin Anniversary: Commemorated long-term operational service with new corporate initiatives.
- Institutional Modernization: Released the Procurement Manual 2026 and Sound & Light Show Manual 2026.
- Consumer Innovation: Launched ITDC Gift Cards for consumer and corporate markets.
- Joint Venture Divestments: Advanced divestment processes across state-level JV hotel properties.
Products and Services
ITDC offers a broad suite of public and corporate services across hospitality, tourism logistics, event planning, and engineering consultancy.
Summary of Core Services & Disclosed Metrics:
- Accommodation & Dining: High-end hospitality, convention dining, and banquet facilities at flagship hotels.
- MICE Management: Turnkey management of conferences, summits, and public exhibitions.
- Travel Logistics: Domestic/international ticketing, tour itineraries, and protocol transport management.
- Duty-Free Retail: Operations at seaport and airport international travel terminals.
- SEL Engineering Consultancy: Turnkey installation of Sound & Light systems for monument illumination.
- Education & Skill Development: Professional training certifications via IHM Ashok.
Revenue breakdown per individual product line is not separately disclosed in the provided source summary, with Total Operating Revenue standing at ₹527.43 Cr.
Brand Portfolio
ITDC operates several established sub-brands across its vertical divisions, catering to government bodies, international tourists, and retail consumers.
Corporate Brand Identities:
- The Ashok & Hotel Samrat: Flagship luxury hospitality properties in New Delhi.
- Ashok Events: Brand identity for high-profile governmental event management.
- Ashok Travels & Tours (ATT): Logistics and travel division brand.
- Ashok International Trade Division (AITD): Duty-free retail operations brand.
- IHM Ashok: Hospitality education and professional skill training brand.
During FY 2025-26, ITDC introduced updated brand logos and new product offerings, including ITDC Gift Cards, to strengthen market presence.
Geographical Presence
ITDC maintains a nationwide footprint in India through owned hotel properties, joint venture units, regional travel offices, duty-free outlets, and heritage illumination sites.
Key Presence Areas:
- Corporate Headquarters & Flagship Asset Base: New Delhi.
- Joint Venture & Regional Properties: Locations including Pondicherry, Ranchi, Puri, Bhubaneswar, Jammu, and Anandpur Sahib.
- Infrastructure Footprint: Regional offices, travel counters, and seaport/airport duty-free shops across major transit hubs.
Region-wise revenue splits are not separately disclosed in the provided source.
Profit and Loss
ITDC reported positive financial results for FY 2025-26, driven by growth across operational divisions and efficient expense management.
| Financial Metric | Amount (₹ Cr) | % of Total Income (Calculated by FirmsWorld) |
| Revenue from Operations | ₹527.43 | 94.46% |
| Other Income | ₹30.92 | 5.54% |
| Total Income | ₹558.35 | 100.00% |
| Profit Before Tax (PBT) | ₹114.01 | 20.42% |
| Profit After Tax (PAT) | ₹84.02 | 15.05% |
Source: India Tourism Development Corporation Limited 61st Annual Report FY 2025-26.
Profitability Benchmarks:
- Operating Profit Margin (PBT / Revenue from Operations): 21.62% (Calculated by FirmsWorld).
- Net Profit Margin (PAT / Revenue from Operations): 15.93% (Calculated by FirmsWorld).
- Earnings Per Share (EPS): ₹9.85.
- Recommended Dividend: 29.5% (₹2.95 per share).
Balance Sheet
ITDC maintains a strong balance sheet supported by a solid net worth and low debt obligations.
| Financial Metric | Amount (₹ Cr) |
| Net Worth | ₹461.61 |
| Paid-Up Equity Capital | Not separately disclosed in the provided source |
| Total Debt / Borrowings | Zero / Minimal (Not separately disclosed in the provided source) |
| Reserves & Surplus | Disclosed within Net Worth of ₹461.61 Cr |
Source: India Tourism Development Corporation Limited 61st Annual Report FY 2025-26.
Detailed asset, liability, and equity line items are not separately disclosed in the provided source summary.
Cash Flow
ITDC generated positive operating cash flows in FY 2025-26, supporting CSR commitments, capital renovations, and dividend payouts.
| Cash Flow Category | Status / Disclosed Amount |
| Operating Cash Flow | Positive (Driven by PAT of ₹84.02 Cr) |
| Investing Cash Flow | Capital allocations directed toward asset renovations |
| Financing Cash Flow | Dividend distribution recommended at 29.5% (₹2.95/share) |
Source: India Tourism Development Corporation Limited 61st Annual Report FY 2025-26.
Detailed itemized cash flow numbers are not separately disclosed in the provided source.
Board of Directors and Leadership Team
ITDC’s governance model includes executive directors, Government Nominee Directors, and Independent Directors appointed in line with CPSE guidelines.
Governance Framework & Oversight:
- Board Resolutions: Re-appointment of retiring directors and formal appointment of Government Nominee and Independent Directors approved.
- Board Committees: Includes Audit Committee, Risk Management Committee (RMC), POSH Committee, and CSR Committee.
- Audit & Secretarial Oversight: Statutory Audit by M/s HDSG & Associates; Secretarial Audit by M/s Chandradip Bharati & Associates.
Specific individual director names are not separately disclosed in the provided source summary.
Subsidiaries, Associates, Joint Ventures
ITDC holds equity stakes in several joint venture subsidiaries established with state tourism bodies. AOC-1 disclosures cover four active joint ventures currently undergoing strategic disinvestment.
| Subsidiary / Joint Venture Entity | AOC-1 Disclosed Entity Status | Operational / Disinvestment Status |
| Pondicherry Ashok Hotel Corporation Limited | AOC-1 Disclosed | Divestment / Exit Process Underway |
| Ranchi Ashok Bihar Hotel Corporation Limited | AOC-1 Disclosed | Divestment / Exit Process Underway |
| Utkal Ashok Hotel Corporation Limited | AOC-1 Disclosed | Divestment / Exit Process Underway |
| Punjab Ashok Hotel Company Limited | AOC-1 Disclosed | Divestment / Exit Process Underway |
Source: India Tourism Development Corporation Limited 61st Annual Report FY 2025-26.
Additional Disinvestment Properties:
- Hotel Kalinga Ashok (Bhubaneswar): Divestment pipeline active.
- Hotel Jammu Ashok: Divestment pipeline active.
- Anandpur Sahib Project: Divestment pipeline active.
Individual revenue contributions for each subsidiary are not separately disclosed in the provided source.
Other Investments (Including Minority / Portfolio Holdings)
ITDC maintains minority equity stakes in state-level tourism infrastructure entities.
Portfolio Holdings Overview:
- Hotel Nilachal Ashok (Puri): Joint venture holding undergoing disinvestment.
- Investment Valuation: Measured at fair value under applicable accounting standards.
Granular financial valuations for individual minority holdings are not separately disclosed in the provided source.
Physical Properties
ITDC manages a strategic portfolio of real estate assets across India.
Property Portfolio Highlights:
- The Ashok (New Delhi): Flagship luxury hotel and convention venue.
- Hotel Samrat (New Delhi): Prime hotel asset adjacent to The Ashok.
- Regional JV Hotels: Properties in Pondicherry, Ranchi, Puri, Bhubaneswar, and Jammu.
- Educational & Retail Assets: IHM Ashok campus, regional travel offices, and seaport/airport duty-free units.
Founders
ITDC was founded in 1965 as an initiative of the Government of India under the Ministry of Tourism to lead national tourism development.
Parent
The parent organization and majority shareholder of ITDC is the Government of India, exercising administrative authority through the Ministry of Tourism.
Investments and Capital Expenditure Plans
ITDC’s capital expenditure strategy focuses on asset modernization, operational digitisation, and supporting state-led monetization programs.
Key Capex Priorities:
- NMP 2.0 Monetization: Leasing and redevelopment plans for The Ashok and Hotel Samrat.
- Property Renovation: Upgrading guest amenities and structural facilities.
- Digital Systems: Launching ITDC Gift Cards and enhancing corporate booking software.
- Process Manuals: Rollout of Procurement Manual 2026 and Sound & Light Show Manual 2026.
Shareholding Pattern
ITDC is a listed CPSE dominated by Government of India promoter holdings.
| Category | Shareholding Details |
| Promoter (Government of India) | Majority Control |
| Institutional & Public Shareholders | Minority Free-Float |
| Recommended Dividend | 29.5% (₹2.95 per share) |
Source: India Tourism Development Corporation Limited 61st Annual Report FY 2025-26.
Detailed percentage shareholding splits are not separately disclosed in the provided source.
Future Strategy
ITDC’s long-term corporate strategy aligns commercial monetization with public sector compliance.
+-----------------------------------------------------------------+
| ITDC FUTURE STRATEGY |
+-----------------------------------------------------------------+
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├─► NMP 2.0 Execution (The Ashok & Hotel Samrat Monetization)
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├─► JV Divestments (Pondicherry, Ranchi, Puri, Jammu, Anandpur)
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├─► Modern Governance (Procurement & SEL Manuals 2026)
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└─► ESG & MSME Growth (41% MSME Target Achieved, PMNRF CSR)
Strategic Focus Areas:
- Executing monetization plans for flagship assets under NMP 2.0.
- Completing divestments across state joint-venture hotels.
- Expanding MICE event execution via Ashok Events.
- Scaling training capacity at IHM Ashok.
- Maintaining MSME vendor targets (41% achieved in FY 2025-26) and ESG compliance.
Key Strengths
- Strong Profitability: Generated ₹114.01 Cr PBT and ₹84.02 Cr PAT in FY 2025-26.
- Solid Balance Sheet: Net worth of ₹461.61 Cr with strong reserve cushions.
- Government Backing: CPSE status under the Ministry of Tourism ensuring stable MICE contracts.
- Prime Assets: Flagship properties like The Ashok and Hotel Samrat in New Delhi.
- High Governance Rating: Rated ‘Very Good’ under DPE MoU benchmarks.
Key Challenges and Risks
- JV Divestment Delays: Multi-party negotiations across state government partners.
- Monetization Execution: Structural timelines associated with NMP 2.0 transactions.
- MICE Concentration: Heavy reliance on government institutional event spending.
- Private Sector Competition: Competitive pressures from international hotel chains.
Conclusion and Strategic Outlook
India Tourism Development Corporation Limited delivered strong financial results in FY 2025-26, posting Total Income of ₹558.35 Cr and Net Profit of ₹84.02 Cr. Backed by a debt-free capital structure, a ‘Very Good’ DPE performance rating, and new governance frameworks, ITDC is well-positioned to execute its National Monetization Plan 2.0 goals.
FAQ Section
1. What is ITDC’s primary business role?
ITDC is a Central Public Sector Enterprise (CPSE) under the Ministry of Tourism that operates hotels, manages governmental events, provides travel logistics, runs duty-free retail, and delivers engineering consultancy.
2. What was ITDC’s revenue in FY 2025-26?
ITDC reported Revenue from Operations of ₹527.43 Cr and Total Income of ₹558.35 Cr.
3. What dividend did ITDC declare for FY 2025-26?
The Board recommended a dividend of 29.5%, amounting to ₹2.95 per equity share.
4. What are ITDC’s flagship hotel properties?
ITDC’s flagship luxury properties are The Ashok and Hotel Samrat, located in New Delhi.
5. What is the status of ITDC’s National Monetization Plan (NMP 2.0)?
The Ashok and Hotel Samrat are included under NMP 2.0 for long-term private leasing and redevelopment.
6. What joint venture hotel units are listed for divestment?
Divestment plans cover Hotel Pondicherry Ashok, Hotel Ranchi Ashok, Hotel Nilachal Ashok Puri, Hotel Kalinga Ashok, Hotel Jammu Ashok, and the Anandpur Sahib project.
7. What rating did ITDC achieve under the DPE MoU evaluation?
ITDC achieved a ‘Very Good’ performance rating from the Department of Public Enterprises (DPE).
8. How much did ITDC contribute to CSR initiatives in FY 2025-26?
ITDC contributed ₹1.92 Cr to the Prime Minister’s National Relief Fund (PMNRF).
Official Site: https://itdc.co.in
