IHCL spent a total of Rs. 4.54 crores on CSR activities, which includes Rs. 1.13 crores set off from previous years.
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NEW DELHI (India CSR): The Indian Hotels Company Limited (IHCL), India’s largest hospitality company, continues to demonstrate industry-leading growth with consistency and conviction. This is reflected in their exceptional financial and non-financial performance, including portfolio expansion, the ‘Ahvaan 2025’ strategy, and the scaling of new businesses. Presenting their sixth Integrated Report (IR), IHCL showcases their financial and non-financial performance for FY 2023-24, highlighting their multi-dimensional approach to value creation and ESG strategy.
Financial Overview and CSR Obligation
IHCL’s average net profit as per subsection (5) of section 135 stands at Rs. 224.03 crores. Consequently, the two percent of the average net profit required for CSR activities amounts to Rs. 4.48 crores.
With no surplus arising from previous CSR projects and an amount of Rs. 1.13 crores required to be set off for the financial year, the total CSR obligation for FY 2023-24 is Rs. 3.35 crores.
Corporate Social Responsibility (CSR) is embedded in the DNA of the Company, being a part of the illustrious Tata Group, the company’s recent annual report said.
CSR Expenditure Breakdown
During the financial year, IHCL spent a total of Rs. 4.54 crores on CSR activities, which includes Rs. 1.13 crores set off from previous years. The breakdown of the expenditure is as follows:
- Amount spent on CSR projects (both ongoing and non-ongoing): Rs. 3.33 crores
- Amount spent on administrative overheads: Rs. 0.08 crores
- Amount spent on impact assessment: NA
Skilling Initiative
One of the significant CSR projects undertaken by IHCL is the Skilling Initiative, which benefited 7,982 individuals. Approximately 70% of these beneficiaries come from vulnerable and marginalized groups, showcasing IHCL’s commitment to inclusive growth and community development.
Leadership in Hospitality
IHCL, South Asia’s largest hospitality company, has a legacy of over 120 years of industry leadership. Their continued focus on sustainability and community support underscores their role as a responsible corporate entity.
(India CSR)
