Chalet Hotels Ltd. · NSE:CHALET
Chalet Hotels — Q4 FY26 Earnings Presentation
41 slides from Chalet Hotels's earnings presentation, May 15, 2026
Slide 1: Corrigendum cover letter to stock exchanges
May 15, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza Corporate Relationship Department Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (East), Dalal Street, Fort, Mumbai 400 051. Mumbai 400 001. Scrip Code: CHALET Scrip Code: 542399 (Equity) 976529 (Non-Convertibl
Slide 2: Investor Presentation Q4 FY26
INVESTOR PRESENTATION Q4 FY26 A t h i v a R e s o r t & S p a , K h a n d a l a
Slide 3: Safe Harbor
Safe Harbor This release has been prepared by Chalet Hotels Limited (CHL) and the information on which it has been based or derived from sources that we believe to be reliable. Whilst all reasonable care has been taken to ensure the facts stated are accurate and the opinions given are fair and reaso
Slide 4: Key Highlights
Key Highlights Pa n o r a m a , A t h i v a R e s o r t & S p a , K h a n d a l a
Slide 5: 25+ years of evolution towards becoming a leading hospitality player
25+ years of evolution towards becoming a leading hospitality player Chalet’s evolution as a leading hospitality player from “Pure-play Asset Owner” to “Brand Owner” Brand Ownership Portfolio & Platform Capabilities Entered “Franchise” model • Legacy of 25+ years & asset management, hotel Asset Owne
Slide 6: Rapid growth in presence, earnings as we evolved
Rapid growth in presence, earnings as we evolved 5,044 4,564 3,922 3,620 1,655 1,250 2,911 870 Expanding 986 presence 580 (Key count) 3,052 3,314 3,389 2,331 2,634 Total Pipeline Operational FY19 FY23 FY24 FY25 FY26 Revenue: 2x | EBITDA: 2.6x FY19 FY23 FY24 FY25 FY26 Rapid growth RevPAR (Rs) 6,283 6
Slide 7: Business Highlights – Q4 FY26
Business Highlights – Q4 FY26 • Total portfolio crossed 5,000 keys including 7 projects in pipeline with ~1,655 keys; reflecting a strong expansion strategy with two significant additions during the quarter • 330-keys Luxury hotel at Hyderabad (Greenfield) • ~144-keys premium resort at Udaipur (Brow
Slide 8: Strategic Entry into Udaipur Leisure Hospitality Market
Strategic Entry into Udaipur Leisure Hospitality Market • 8.2 Acres; ~3 Acres lawn Acquired Inder Residency Resort & Spa, • 144 Keys • Large banqueting space Udaipur • 2 Restaurants, 1 Bar Total consideration: ₹1,710 Mn • Pool, Spa, Gym STRATEGIC IMPORTANCE • Premium location • Reduced “land-to-laun
Slide 9: Strategic Expansion into Hyderabad luxury Market
Strategic Expansion into Hyderabad luxury Market RITZ CARLTON @ HYDERABAD Greenfield ultra-luxury hotel Madhapur, Hyderabad • 330-keys | Luxury retail space: 36, 255 sq. ft. • Launch by Q4 FY 2028-29 STRATEGIC IMPORTANCE • Strategic location with high demand for luxury • Favorable demand-supply dyna
Slide 10: Financial Highlights
Financial Highlights Revenue EBITDA EBITDA Margin (₹ mn) (₹ mn) (%) 5,711 2,786 48.8% Consolidated 6% YoY 8% YoY 100 bps Q4 FY26 5,706 2,800 49.1% Ex- Residential 6% YoY 6% YoY 13 bps 28,124 12,301 43.7% Consolidated 60% YoY 59% YoY 28 bps FY26 20,741 9,573 46.2% Ex- Residential 18% YoY 21% YoY 97 b
Slide 11: Business Performance
Business Performance T h e A D i n e r, A t h i v a R e s o r t & S p a , K h a n d a l a
Slide 12: Hospitality: Key Highlights
Hospitality: Key Highlights Revenue (₹ million) EBITDA (₹ million) EBITDA Margin (%) 3% YoY 1% YoY 102 bps YoY Q4FY26 4,598 4,740 48.4% 47.4% 2,228 2,248 Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 14% YoY 12% YoY 81 bps YoY FY26 17,311 15,209 6,803 7,603 44.7% 43.9% FY25 FY26 FY25 FY26 FY25 FY2
Slide 13: Hospitality: Geography wise performance
Hospitality: Geography wise performance Portfolio level Q4 FY26 Q4 FY25 YoY% FY26 FY25 YoY% 1. Average Daily Rate (₹) a. MMR 14,349 14,122 1.6% 12,693 12,032 5.5% b. Others 16,503 14,571 13.3% 14,724 12,163 21.1% Combined Portfolio 15,456 14,345 7.7% 13,727 12.094 13.5% 2. Occupancy (%) a. MMR 75.8%
Slide 14: Hospitality: Segment wise performance
Hospitality: Segment wise performance Portfolio level Q4 FY26 Q4 FY25 YoY% FY26 FY25 YoY% 1. Average Daily Rate (₹) a. Business Hotels 15,168 14,158 7.1% 13,370 11,972 11.7% b. Resorts 18,351 17,263 6.3% 17,777 14,761 20.4% Combined Portfolio 15,456 14,345 7.7% 13,727 12.094 13.5% 2. Occupancy (%) a
Slide 15: Hospitality: Revenue Break-up
Hospitality: Revenue Break-up (₹ million) Q4 FY26 FY26 4,598 4,740 310 1% 17,311 314 18% 15,209 1,222 1,292 1,263 1,034 2% 11% 5,050 4,545 4% 15% 3,021 3,138 11,039 9,630 Q4 FY25 Q4 FY26 FY25 FY26 Room F&B Others Room F&B Others 14
Slide 16: Hospitality: Operating Performance
Hospitality: Operating Performance Inventory additions and newly acquired assets to drive efficiencies going ahead Total Expenses % of Revenue Utilities % of Revenue 56.1% 55.3% 5.1% 52.6% 5.0% 51.5% 4.4% 4.2% Q4 FY25 Q4 FY26 FY25 FY26 Q4 FY25 Q4 FY26 FY25 FY26 Staff to Room Ratio (x) Payroll % of R
Slide 17: Commercial Real Estate
Commercial Real Estate Leasing Status: Q4 FY26 vs Q4 FY25 (msf.) 2.4 Mar'26 2.1 CIGNUS Powai® Tower I CIGNUS Whitefield® 0.9 Mn Sq. ft. Complex 1 Mn Sq. ft. Particulars (₹ mn) Q4 FY26 Q4 FY25 YoY FY26 FY25 YoY Total Revenue 847 619 37% 3,061 1,970 55% EBITDA 708 498 42% 2,544 1,540 65% 2.4 EBITDA% 8
Slide 18: Residential Project: Performance Highlights
Residential Project: Performance Highlights Residential Commercial Phase - 1 Phase - 2 ~160,000 sq. ft. Completed Under construction Leasable area for strata sale or leasing 153 apartments 168 apartments Pending Avg Sale Price Phase (msf.) Units handover (₹ psf) Residential – I 5.6 153 1 13,235 Resi
Slide 19: Financials
Financials S k y D e c k , A t h i v a R e s o r t & S p a , K h a n d a l a
Slide 20: Consolidated Performance: Q4 FY26 & FY26
Consolidated Performance: Q4 FY26 & FY26 Q4 FY26 FY26 Revenue EBITDA EBITDA Margin Revenue EBITDA EBITDA Margin Particulars (₹ mn) (₹ mn) (%) (₹ mn) (₹ mn) (%) A. Hospitality Business 4,740 2,248 47.4% 17,311 7,603 43.9% YoY Change (%) 3.1% 0.9% -104 bps 13.8% 11.8% -81 bps B. Commercial Real Estate
Slide 21: Consolidated Statement of Profit & Loss (Q4 FY26)
Consolidated Statement of Profit & Loss (Q4 FY26) Q4 FY26 YoY Particulars (₹ million) Q4 FY26 Q4 FY25 YoY% (Ex-Resi) (Ex-Resi) Total Income 5,711 5,374 6% 5,706 6% Total Expenditure 2,924 2,805 4% 2,906 6% EBITDA 2,786 2,568 8% 2,800 6% Margin % 48.8% 47.8% 1.0% 49.1% 0.1% Dep and Amort. 602 498 21%
Slide 22: Consolidated Statement of Profit & Loss (FY26)
Consolidated Statement of Profit & Loss (FY26) FY26 YoY Particulars (₹ million) FY26 FY25 YoY% (Ex-Resi) (Ex-Resi) Total Income 28,124 17,541 60% 20,741 18% Total Expenditure 15,823 9,819 61% 11,169 -16% EBITDA 12,301 7,722 59% 9,573 21% Margin % 43.7% 44.0% -0.3% 46.2% 1% Dep and Amort. 2,300 1,788
Slide 23: Consolidated Balance Sheet (Mar'26)
Consolidated Statement of Profit & Loss (FY26) Particulars (₹ million) Mar’26 Mar’25 Fixed Assets 33,145 30,908 Capital Work in-progress 1,325 1,832 Investment Property 22,641 19,983 Goodwill 817 817 Other Non-Current assets 6,126 5,443 Cash and Cash Equivalents 1,640 1,093 Other Current Assets 7,39
Slide 24: Leverage Position
Leverage Position Particulars (₹ million) FY18 FY19 FY23 FY24 FY25 FY26 Allocable to operating assets 23,323 13,572* 11,768* 11,486* 13,109* 10,947 Allocable to under- construction/to be ~3,700 ~900 ~12,600 ~13,600 ~6,800 ~8,258 operationalized assets Net Debt 27,023 14,472 24,368 25,086 19,909 19,2
Slide 25: Pipeline & Project Update
Pipeline & Project Update T h e D u k e s B a r, A t h i v a R e s o r t & S p a , K h a n d a l a
Slide 26: Healthy Growth Pipeline
Healthy Growth Pipeline Under construction New Rooms/ Leasable area Location Progress update CIGNUS Powai® Tower II 0.9 msf Mumbai Q4 FY27 Taj at Delhi International Airport 380 rooms New Delhi Q4 FY27* Athiva Resort & Spa at Varca, South Goa 205 rooms Goa FY28 Ritz Carlton at Hyderabad 330 rooms Hy
Slide 27: Key Project Update – CIGNUS Powai Tower II, MMR
Key Project Update – CIGNUS Powai® Tower II, MMR ~380 CRE:keys Airportsq. 0.9 million Hotel ft. 8th Floor slab casted 5th Floor slab casted Core at 15th Floor Pour 6 – GF slab in progress Actual Actual Site Site Rendering Image Image 26
Slide 28: Key Project Update – Taj at Delhi International Airport, NCR
Key Project Update – Taj at Delhi International Airport, NCR ~380 keys Q3 FY26 385-390 keysAirport AirportHotel Hotel Top floor slab casted Interior works for public area in-progress Actual Site Images Rendering Q4 FY26 Facade work in-progress Interior works for public area in-progress Public Area –
Slide 29: Key Project Update – Hyatt Airoli, Navi Mumbai
Key Project Update – Hyatt Airoli, Navi Mumbai ~380 keys luxury 280-keys Airporthotel Hotel Q4 FY26 Shore piling & Excavation in progress Actual Site Image Rendering Note: Chalet to receive on warm-shell lease basis; construction being developed by Mindspace REITs 28
Slide 30: Key Project Update – Luxury hotel, Hyderabad
Key Project Update – Luxury hotel, Hyderabad ~380 keys luxury 330-keys Airporthotel Hotel Q4 FY26 Excavation work Actual Site Image Rendering Note: Chalet to receive on warm-shell lease basis; construction being developed by Mindspace REITs 29
Slide 31: Annexure
Annexure A t h i v a R e s o r t & S p a , K h a n d a l a
Slide 32: Our Presence
Our Presence Operational (Keys) In Pipeline (Keys) 11 Hotels Uttarakhand (141) New Delhi (380+) Faridabad (158) 3,389* Udaipur (~144) Keys MMR# (1,517) (280) 2.4 Pune (311)/ Khandala (147) Hyderabad (595) (330) Commercial Real Goa (360) Estate (msf+) Bengaluru (520) Thiruvananthapuram 11+1 Towers ^
Slide 33: Strong Leadership: Board of Directors
Strong Leadership: Board of Directors Hetal Gandhi Chairman & Independent Director Arthur De Haast Joseph Conrad D’Souza Radhika Piramal Manish Chokhani Independent Director Independent Director Independent Director Independent Director Ravi C. Raheja Neel C. Raheja Shwetank Singh Promoter & Promote
Slide 34: Strong Leadership: Management
Strong Leadership: Management Shwetank Singh Nitin Khanna Gaurav Singh Salil Khare Managing Director & Chief Financial Officer Chief Operating Officer Chief Projects Officer Chief Executive Officer Over two and a half decades Over two and a half decades Over three decades of Over two and a half deca
Slide 35: People Powering Growth through Talent, Capability & Culture
People Powering Growth through Talent, Capability & Culture Entry Level Talent Brought in through programs & Best-in-Industry SELF SUSTAINING TALENT ALL IN THE ENVIRONMENT OF partners like Neev & Job Plus Productivity Ratios “One chalet” culture FLYFEEL FOR SCALE Internal Talent Pool Developed throu
Slide 36: 'Parivartan' by Chalet: Our Sustainability Story
‘Parivartan’ by Chalet: Our Sustainability Story DJSI Score Energy Management Water & Waste Management E-Mobility Corporate 100% organic waste treated Sustainability through organic waste 82 65% composters 100% guest fleet as EVs Assessment Score Recycling of wastewater 100% operational Renewable En
Slide 37: 'Parivartan' by Chalet: Climate Change Action
‘Parivartan’ by Chalet: Climate Change Action Initiative RE100 (Renewable EP100 (Energy Productivity): Double EV100 (Electric Chalet Hotels commits to Energy): Move to 100% renewable energy by energy productivity (revenue per unit of Vehicles): Move entire fleet to EVs for guest achieve Net- Zero el
Slide 38: Consolidated Profit & Loss Statement – Annual Trend
Consolidated Profit & Loss Statement – Annual Trend Particulars (₹ million) FY21 FY22 FY23 FY24 FY25 FY26 ADR 4,040 4,576 9,169 10,718 12,094 13,727 Occupancy 30% 51% 72% 73% 73% 67% RevPAR 1,214 2,355 6,605 7,776 8,781 9,226 Total Income 3,075 5,297 11,780 14,370 17,541 28,124 Total Expenditure 2,7
Slide 39: Consolidated Balance Sheet – Year Trend
Consolidated Balance Sheet – 5 Year Trend Particulars (₹ million) FY21 FY22 FY23 FY24 FY25 FY26 Inventory: Hotels 7 7 8 10 11 11 Rooms 2,554 2,554 2,634 3,052 3,193 3,389 Capital Employed 32,276 35,821 38,531 38,368 48,596 60,220 Investments# 1,433 3,489 5,985 6,596 11,409 4,393 Net Worth 14,329 13,
Slide 40: Earnings Call – Chalet Hotels
Earnings Call – Chalet Hotels Chalet Hotels Ltd cordially invites you to their Earnings Call to discuss operational and financial performance for Q4 FY26 Tuesday, 15th May 2026 Management Representative 11:00 AM, IST Mr. Shwetank Singh Mr. Nitin Khanna Managing Director & Chief Financial Officer Chi
Slide 41: Thank you!
Thank you! Investor Relations Contact: EY Investor Relations: Runjhun Jain Deepak Khetan Runjhun.jain1@in.ey.com deepak.khetan@chalethotels.com investorrelations@chalethotels.com Sneha Salian Sneha2.salian@in.ey.com