By Manvi Pant

(Reuters) - Indian Hotels Co. Ltd (IHCL) will invest 50 billion rupees ($592.5 million) over five years as it aims to double its hotel count and consolidated revenue, CEO Puneet Chhatwal said on Tuesday.

Shares of the Tata Sons-owned company jumped as much as 3% to an all-time high of 761 rupees, before closing 2.3% higher.

IHCL is aiming to more-than-double its consolidated revenue to 150 billion rupees by fiscal 2030 and boost its hotels count to 700 plus by 2030 from 350 hotels in fiscal 2024, it said in an exchange filing.

The company had reported revenue of 70 billion rupees in fiscal 2024.

"Under the hotels expansion plans, 80%-90% of the projects will be centered around the Indian subcontinent," Chhatwal said at IHCL's investor day conference in Mumbai, adding that the projects will be funded through internal accruals.

IHCL, which owns the Taj Hotels and Ginger Hotels chains, aims to remain net cash positive and eyes 20% return on capital employed.

The company has already surpassed its three-year goal, unveiled in 2022 to target a portfolio of 300 plus hotels, but management has refrained from giving any new guidance on margins, Jefferies said in a note.

IHCL is effectively focussing on adding businesses which may yield over 35% in margin growth in fiscal year 2025, the brokerage said.

($1 = 84.3880 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Eileen Soreng)