Chalet Hotels Ltd. · NSE:CHALET
Chalet Hotels — Q2 FY25 Earnings Presentation
28 slides from Chalet Hotels's earnings presentation, Oct 24, 2024
Slide 1: Exchange filing cover letter
October 24, 2024 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 Dear Sir / Madam, Subject:
Slide 2: Investor Presentation Q2 FY25
INVESTOR PRESENTATION Q2 FY25
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 has been 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
Slide 4: Overview
Overview HIGHEST Q2 STABLE & RESILIENT REVENUE : 20% SUSTAINABLE & PERFORMANCE OPERATIONS EBITDA : 20% DIVERSIFIED GROWTH ✓ 7% Expected GDP growth in FY25 ✓ Strong Pipeline & diversified portfolio Strong Resilient ✓ Focused infrastructure development Macro Story Business ✓ Resilient operational effi
Slide 5: Continuing the streak
Continuing the streek In Bns Historically best Q2 performance Revenue Performance EBITDA Performance 3.8 1.6 3.2 1.3 2.5 0.9 20% 20% 28% 44% Q2FY23 Q2FY24 Q2FY25 Q2FY23 Q2FY24 Q2FY25 Credit rating upgrades – CRISIL, ICRA, India Ratings 4
Slide 6: Coming Soon @GOA
Coming Soon @GOA ~170 beach front rooms in upper-upscale category on 11 acres on the white sand beach of Varca, South Goa 5
Slide 7: Q2FY25 Operational Highlights
Q2FY25 OPERATIONAL HIGHLIGHTS
Slide 8: Financial Highlights Q2FY25
Financial Highlights Q2FY25 YoY Growth % CONSOLIDATED HOSPITALITY ₹ 3,832 Mn 20% ₹ 3,352 Mn 18% Revenue ₹ 1,556 Mn ₹ 1,387 Mn 18% 20% EBITDA 40.6% 10 bps 41.4%* 10 bps EBITDA Margin *excluding ‘The Dukes Retreat’ which is under renovation ₹ 794 Mn 79% margins were at 42.6% PBT All adjustments detail
Slide 9: Hospitality
Hospitality Revenue EBITDA In Rs. Mn. Room Q2FY24 1,813 820 2,844 Q2FY24 1,180 41.5% F&B Other Q2FY25 2,122 1,014 3,352 18% Q2FY25 1,387 41.4% Total 18% Revenue Mix Guest Profile Q2FY25 6% 5% Steady 29% 33% 14% diversification 54% 71% 67% 22% Q2FY24 Q2FY25 MMR Hyderabad Bengaluru Pune/Lonavala NCR D
Slide 10: Hospitality Performance
Hospitality Performance Same store* Portfolio level Q2FY25 Q2FY24 YoY% H1FY25 H1FY24 YoY% YoY% ADR (Rs.) MMR 10,580 9,861 7% 7% 10,555 10,340 2% Others 10,480 9,309 13% 11% 10,415 9,418 11% Combined 10,532 9,610 10% 9% 10,490 9,944 5% Occupancy (%) MMR 75% 74% 1% 1% 77% 74% 3% Others 72% 72% 0% 4% 6
Slide 11: Hospitality: Retained Efficiencies
Hospitality: Retained Efficiencies Total expenses % of Revenue 58.5% 58.6% Q2FY24 Q2FY25 Staff to room ratio* Utilities % of Revenue Payroll Costs % of Revenue 0.97 14.3% 14.8%** 6.1% 5.8% 0.94 Sep-23 Sep-24 Q2FY24 Q2FY25 Q2FY24 Q2FY25 **excluding ‘The Dukes Retreat’ which is *Includes full time and
Slide 12: Rental & Annuity: Performance Highlights
Rental & Annuity: Performance Highlights Msf. (Rs. Mn.) Q2FY25 H1FY25 FY24 2.4 2.4 Total Revenue 419 774 1,241 EBITDA 323 587 988 * 1.1 0.2 EBITDA% 77% 76% 80% 1.2 Mar' 24 Sep' 24 Leasable Area Leased Area LOI’s signed Artists’ rendering Artists’ rendering CIGNUS Powai® Tower I CIGNUS Whitefield Ben
Slide 13: Real-estate Development in Bengaluru
Real-estate Development in Bengaluru No. of Avg Sale Price As of September 2024 (Msf) Units (Rs. psf) Residential (1+2+3) 0.85 321 1 Historical sales 0.28 83 ~7,700 2 New Sales (A+B+C) 0.41 170 ~19,700 A Sold in FY24 0.29 121 ~18,800 B Q1FY25 0.04 17 ~21,500 C Q2FY25 0.07 32 ~21,800 3 Unsold 0.17 68
Slide 14: Profit & Loss Statement
Profit & Loss Statement Particulars (in Rs. Mn) Q2FY25 Q2FY24 YoY% H1FY25 H1FY24 YoY% FY24 Total Income 3,832 3,182 20% 7,523 6,327 19% 14,370 Total Expenditure 2,275 1,886 21% 4,483 3,896 15% 8,327 EBITDA 1,556 1,296 20% 3,040 2,432 25% 6,044 Margin % 40.62% 40.72% 40.41% 38.43% 42.10% Adjusted EBI
Slide 15: Balance Sheet
Balance Sheet Particulars (in Rs. Mn) Sep-24 Mar-24 Fixed Assets 26,014 24,464 Capital Work in-progress 2,208 11,089 Investment Property 17,891 7,727 Right Of Use Asset 427 460 Goodwill 688 686 Other Non-Current assets 4,080 4,249 Cash and Cash Equivalents 1,601 1,323 Other Current Assets 7,483 7,49
Slide 16: Leverage Position
Leverage Position in Rs. Mn 30 Sep 24 Mar-24 Mar-23 Mar-19 Mar-18 Allocable to operating assets 8,951 11,486 11,768 13,572 23,323 Allocable to under-construction/to be ~7,700 ~13,600 ~12,600 ~900 ~3,700 operationalized assets Capital productivity Net Debt 16,651# 25,086 24,368 14,472 27,023 Optimal
Slide 17: Project Updates
PROJECT UPDATES
Slide 18: Strong Pipeline
Strong Pipeline New Rooms/ Leasable Location Completion update area The Dukes Retreat Renovation & Expansion Opening Phase 1 in August’24 65 New Lonavala Existing rooms – 80 Phase 2 – Q4 FY25 Bengaluru Marriott Hotel Whitefield Expansion 125-130 rooms Bengaluru Q3 FY25 Existing rooms – 391 Taj at De
Slide 19: About Chalet
ABOUT CHALET
Slide 20: Hospitality: Existing Portfolio
Hospitality: Existing Portfolio 3,052 Keys MUMBAI JW Marriott Mumbai Sahar The Westin Mumbai Powai Lake Lakeside Chalet, Mumbai - Four Points By Sheraton Navi 588 Keys 604 Keys Marriott Executive Apartments Mumbai, Vashi 173 Keys 152 Keys PUNE LONAVALA NCR Novotel Pune Nagar Road 311 Keys The Dukes
Slide 21: Rental & Annuity: Existing Portfolio
Rental & Annuity: Existing Portfolio MUMBAI BENGALURU The Orb - Retail & Office Tower CIGNUS Powai® Tower I CIGNUS Whitefield Bengaluru® Tower I 0.5 Mn Sq. ft. 0.9 Mn Sq. ft. 0.7 Mn Sq. ft. Leasing commenced, CIGNUS Whitefield Bengaluru® Tower II handover soon to start 0.3 msf 20
Slide 22: Upcoming New Projects
Upcoming New Projects MUMBAI DELHI Taj at Delhi International Airport CIGNUS Powai® Tower II Hyatt Regency at Airoli 385-390 rooms 0.9 msf ~280 rooms New hotel with ~170 upper-upscale rooms in South Goa All images are Artist’s renderings 21
Slide 23: Our Sustainability story
Our Sustainability story DJSI SCORE ENERGY MANAGEMENT WATER & WASTE MANAGEMENT E Mobility Corporate Sustainability Assessment Wet waste treated through 100% 57 61% organic waste composters Placed 8th in the world Renewable energy Operational assets have EV charging Recycling of wastewater among cate
Slide 24: Climate Change Actions
Climate Change Actions Initiative RE100 (Renewable Energy): EP100 (Energy Productivity): EV100 (Electric Vehicles): Move to 100% renewable Double energy productivity Move entire fleet to EVs for energy by 2030 (revenue per unit of electricity guest transportation by 2025 consumed) by 2028 The Compan
Slide 25: Achievements
Achievements KPMG ESG Excellence award for Mid/ Small Cap category in Awarded the ‘India’s Best Workplaces for the Infrastructure, Real Estate & Logistics sector at the KPMG Women’ for the 5th year in a row ESG Conclave and Awards ’24. 24
Slide 26: Profit & Loss Statement – 5 Year trend
Profit & Loss Statement – 5 Year trend Particulars (Consolidated) (in Rs. Mn) FY24 FY23 FY22 FY21 FY20 FY19 ADR 10,718 9,169 4,576 4,040 8,482 8,210 Occupancy 73% 72% 51% 30% 71% 77% RevPAR 7,776 6,605 2,355 1,214 6,022 6,283 Total Income 14,370 11,780 5,297 3,075 10,087 10,348 Total Expenditure 8,3
Slide 27: Balance Sheet – 5 Year trend
Balance Sheet – 5 Year trend Particulars (in Rs. Mn) FY24 FY23 FY22 FY21 FY20 FY19 Inventory Hotels 10 8 7 7 7 6 Rooms 3,052 2,634 2,554 2,554 2,554 2,311 Capital Employed 38,368 38,531 35,821 32,276 32,816 28,348 Investments# 6,596 5,985 3,489 1,433 3,277 656 Net Worth 18,509 15,415 13,410 14,329 1
Slide 28: Thank You
Chalet Hotels Limited Thank You Raheja Towers, 4th Floor, Block G, BKC, Mumbai 400 051 Investor Relations Contact: Ruchi Rudra ruchi.rudra@chalethotels.com investorrelations@chalethotels.com