Mumbai , May 15: Chalet Hotels Limited today announced its financial results for the fourth quarter and full year ended March 31, 2026, delivering steady growth across its hospitality and commercial real estate businesses, supported by portfolio expansion and operational efficiency improvements.
For FY26, the company reported consolidated revenue of INR 20.7 billion, marking an 18% year-on-year increase. Consolidated EBITDA rose 21% YoY to INR 9.6 billion, with EBITDA margins improving to 46.2%. Consolidated PAT for the year stood at INR 6.5 billion.
Average Room Rate for FY26 increased 13% YoY to INR 13,727, while RevPAR rose 5% to INR 9,226, reflecting continued demand resilience across key hospitality markets.
Q4 FY26 Performance Highlights
During Q4 FY26, total income (excluding residential business) increased 6% YoY to INR 5.7 billion. Consolidated EBITDA grew 6% YoY to INR 2.8 billion, while EBITDA margins improved by 15 basis points to 49.1%. Consolidated PAT for the quarter stood at INR 1.6 billion.
Hospitality Segment
The hospitality business reported revenue of INR 4.7 billion for Q4 FY26, up 3% compared to the corresponding quarter last year. ARR improved 8% YoY to INR 15,456, while occupancy stood at 68%. RevPAR was reported at INR 10,544. Segment EBITDA stood at INR 2.2 billion, with margins of 47.4%.
Commercial Real Estate Segment
The company’s rental and annuity business continued to deliver strong momentum during the quarter. Revenue from the commercial real estate segment increased 37% YoY to INR 847 million, while EBITDA rose 42% to INR 708 million. EBITDA margins for the segment stood at 83.6%.
Expansion and Strategic Developments
Chalet Hotels crossed the milestone of 5,000 keys across its portfolio during the year, including seven projects currently in the pipeline representing approximately 1,655 additional keys.
Key additions announced during the quarter include:
- A 330-key luxury greenfield hotel project in Hyderabad
- A ~144-key premium brownfield resort project in Udaipur
The company also highlighted strong progress in sustainability and workplace excellence initiatives.
ESG and Recognition Highlights
- S&P Global Corporate Sustainability Assessment (CSA) awarded Chalet Hotels an overall ESG score of 82, ranking the company second globally in the Hotels, Resorts & Cruise Lines category as of February 27, 2026.
- Commercial real estate exit rental income run rate reached INR 280 million.
- Chalet Hotels was certified as a Great Place To Work for the seventh consecutive year.
The company stated that it remains focused on strategic expansion, operational excellence, and sustainable growth as it strengthens its position across hospitality and commercial real estate markets.
Includes projects in pipeline
Consolidated Performance INR Million
|
Particulars |
Q4FY26 |
Q3FY26 |
QoQ% |
Q4FY25 |
YoY% |
FY26 |
FY25 |
YoY% |
|
Total Income |
5,711 |
5,892 |
(3%) |
5,374 |
6% |
28,124 |
17,541 |
60% |
|
EBITDA |
2,786 |
2,726 |
2% |
2,568 |
8% |
12,301 |
7,722 |
59% |
|
EBITDA Margin % |
48.8% |
46.3% |
2.5 pp |
47.8% |
1.0 pp |
43.7% |
44.0% |
(0.3 pp) |
|
PBT |
1,779 |
1,672 |
6% |
1,588 |
12% |
8,187 |
4,343 |
88% |
|
Tax |
149 |
432 |
(66%) |
350 |
(58%) |
1,736 |
2,918 |
(40%) |
|
PAT |
1,630 |
1,241 |
31% |
1,238 |
32% |
6,450 |
1,425 |
353% |
Segmental Performance INR Million
|
HOSPITALITY |
|
|
|
|
|
|
|
|
|
Particulars |
Q4FY26 |
Q3FY26 |
QoQ% |
Q4FY25 |
YoY% |
FY26 |
FY25 |
YoY% |
|
ADR (Rs) |
15,456 |
14,970 |
3% |
14,345 |
8% |
13,727 |
12,094 |
13% |
|
Occupancy (%) |
68.2% |
67.9% |
(0.3 pp) |
75.9% |
(7.7 pp) |
67.2% |
72.6% |
(5.4 pp) |
|
RevPAR (Rs) |
10,544 |
10,162 |
4% |
10,893 |
(3%) |
9,226 |
8,778 |
5% |
|
Total Income |
4,740 |
4,913 |
(4%) |
4,598 |
3% |
17,311 |
15,209 |
14% |
|
EBITDA |
2,248 |
2,226 |
1% |
2,228 |
1% |
7,603 |
6,803 |
12% |
|
EBITDA Margin % |
47.4% |
45.3% |
2.1 pp |
48.5% |
(1.0 pp) |
43.9% |
44.7% |
(0.8 pp) |
|
RENTAL ANNUITY |
|
|||||||
|
Particulars |
Q4FY26 |
Q3FY26 |
QoQ% |
Q4FY25 |
YoY% |
FY26 |
FY25 |
YoY% |
|
Total Income |
847 |
744 |
14% |
619 |
37% |
3,061 |
1,970 |
55% |
|
EBITDA |
708 |
621 |
14% |
498 |
42% |
2,544 |
1,540 |
65% |
|
EBITDA Margin % |
83.6% |
83.5% |
0.1 pp |
80.4% |
3.2 pp |
83.1% |
78.2% |
4.9 pp |
Development Pipeline Updates:
- CIGNUS II, Powai, Mumbai: Construction progressing; substantial completion expected by end FY27, although the West Asia crisis has put some pressure on the labour availability.
- Taj Delhi International Airport: Construction progressing steadily; partial opening planned in Q4 FY27, followed by a phased launch.
- Ritz Carlton, Hyderabad: Excavation work has commenced.
- Udaipur Resort: Acquisition completed; expansion potential under evaluation.
- Hyatt Regency, Airoli, Navi Mumbai: Excavation work commenced; project progressing as per schedule.
Speaking on the financial results, Shwetank Singh, MD & CEO, Chalet Hotels Limited said,
We further strengthened our long-term growth pipeline through strategic expansion into Hyderabad and Udaipur and also achieved significant milestones in our residential business. Backed by a robust portfolio, diversified growth engines and strong development visibility, the Company remains well positioned to capitalise on India’s long-term demand opportunity.”