Chalet Hotels Limited announces its results for the first quarter of the fiscal year 2026 ending June 30, 2025.
Key highlights for Q1 FY26
- The core business i.e. excluding residential:
- Revenue stood at INR 4.7 bn, 27% higher than Q1 FY25
- EBITDA stood at INR 2.1 bn, 37% higher than Q1 FY25
- EBITDA margins expanded by 3.3 % to 44.4%
- 7% YoY room inventory growth led by the successful project expansions
- 95 flats handed over to flat owners at the residential project at Koramangala Bengaluru
- Certified as a Great Place To Work® in India, 6th time in a row
Consolidated performance for Q1 FY26
(INR Million)
| Particulars | Q1FY26 | Q1FY25 | YoY % | Q4FY25 | QoQ % | FY25 |
|---|---|---|---|---|---|---|
| Total Income | 9,083 | 3,691 | 146% | 5,374 | 69% | 17,541 |
| EBITDA | 3,711 | 1,483 | 150% | 2,568 | 44% | 7,722 |
| Margin (%) | 40.9% | 40.2% | 0.7pp | 47.8% | -6.9pp | 44.0% |
| PBT | 2,686 | 777 | 246% | 1,588 | 69% | 4,343 |
| Tax | 655 | 171 | 284% | 350 | 87% | 2,918** |
| PAT | 2,031 | 606 | 235% | 1,238 | 64% | 1,425 |
| EPS (INR) | 9.30* | 2.79* | – | 5.68* | – | 6.53 |
*Not annualized. Basic EPS
**Following the withdrawal of indexation benefits under the Finance (No. 2) Act, 2024, the Holding Company reversed deferred tax assets of ₹2,021.72 million in Q2 FY25, with a one-time impact on profit and loss.
Segmental performance for Q1 FY26
(INR Million)
Hospitality
| Particulars | Q1FY26 | Q1FY25 | YoY % | Q4FY25 | QoQ % | FY25 |
|---|---|---|---|---|---|---|
| Occupancy | 66% | 70% | -4pp | 76% | -10pp | 73% |
| Average Room Rate | 12,207 | 10,433 | 17% | 14,345 | -15% | 12,094 |
| RevPAR | 8,059 | 7,351 | 10% | 10,909 | -26% | 8,781 |
| Revenue | 3,856 | 3,255 | 18% | 4,598 | -16% | 15,209 |
| EBITDA | 1,608 | 1,341 | 20% | 2,228 | -28% | 6,804 |
| Margin (%) | 41.7% | 41.2% | 0.5pp | 48.5% | -6.8pp | 44.7% |
Rental & annuity
| Particulars | Q1FY26 | Q1FY25 | YoY % | Q4FY25 | QoQ % | FY25 |
|---|---|---|---|---|---|---|
| Revenue | 732 | 355 | 106% | 619 | 18% | 1,970 |
| EBITDA | 608 | 264 | 130% | 498 | 22% | 1,540 |
| Margin (%) | 83.1% | 74.3% | 8.7pp | 80.4% | 2.7pp | 78.2% |
Residential project
| Particulars | Q1FY26 | Q1FY25 | YoY % | Q4FY25 | QoQ % | FY25 |
|---|---|---|---|---|---|---|
| Revenue | 4,391 | – | – | – | – | – |
| EBITDA | 1,628 | -33 | – | -61 | – | -204 |
| Margin (%) | 37.1% | – | – | – | – | – |
Development pipeline updates
- Marriott Whitefield, Bengaluru: Commissioned 121 additional rooms in May this year.
- The Dukes Retreat, Khandala: Completed renovation and additions of 44 keys and a banquet during the quarter. Operationalised on July 4, 2025, taking total inventory to 117 keys. Final phase of 30 rooms on track for completion, taking total inventory to 147 rooms.
- The Taj at Delhi Airport: Construction progressing steadily; on track for completion in H1 FY27.
- Varca Beachfront Resort, Goa: Development progressing as scheduled, with delivery expected in FY28.
- Cignus II, Powai: Second commercial tower at The Westin Powai Lake advancing on schedule; slated for completion in FY27.
Leadership transition update
Speaking on the financial results, Sanjay Sethi, MD & CEO, Chalet Hotels Limited, said: “Despite the geopolitical headwinds across India and West Asia, we’ve once again delivered a strong quarterly performance — a reflection of our team’s unwavering commitment to disciplined execution, guest-centricity, and long-term value creation. I’m immensely proud of how Chalet Hotels continues to demonstrate both resilience and purpose in an ever-evolving environment. Over the past two years, we’ve also been thoughtfully preparing for the future of leadership at Chalet. In alignment with a well-crafted succession plan developed in collaboration with the Board, I had communicated my intent not to seek an extension of my current term, which concludes on January 31, 2026. It gives me great pleasure to share that Shwetank Singh will take over as Managing Director & CEO effective February 1, 2026. This transition is the outcome of a meticulous and collaborative process aimed at preserving our strategic direction while infusing fresh perspective and energy. I look forward to working closely with Shwetank over the coming months to ensure a seamless handover and continued momentum for the organisation and its people.”
