Chalet Hotels Ltd. · NSE:CHALET
Chalet Hotels — Q3 FY26 Earnings Presentation
36 slides from Chalet Hotels's earnings presentation, Feb 2, 2026
Slide 1: Exchange filing cover letter for investor presentation
February 2, 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 Shares) 976529 (Non
Slide 2: Investor Presentation Q3 FY26
INVESTOR PRESENTATION Q3 FY26 C l i f f V i e w R o o m , A t h i v 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 R e s t a u r a n t , A t h i v a K h a n d a l a
Slide 5: Business Highlights
Business Highlights • Strong operating performance: RevPAR up 12% YoY; ADR up 16% YoY • Occupancy remained buoyant across micro-markets • New inventory at Bengaluru (129 keys added in H1 FY26) and Khandala (147-keys fully operational mid-Nov’25 onwards) • Renovation at Four Points by Sheraton at Vas
Slide 6: Financial Highlights
Financial Highlights Revenue EBITDA EBITDA (%) 5,892 2,726 46.3% Consolidated 27% YoY 29% YoY 76 bps Q3FY26 5,726 2,686 46.9% Ex- Residential 23% YoY 24% YoY 14 bps 22,414 9,514 42.4% Consolidated 84% YoY 85% YoY 10 bps 9MFY26 15,035 6,773 45.0% Ex- Residential 24% YoY 28% YoY 152 bps 5
Slide 7: Consolidated Performance: Q3 FY26 & 9M FY26
Consolidated Performance: Q3 FY26 & 9M FY26 Q3 FY26 9M FY26 Revenue EBITDA Revenue EBITDA Particulars EBITDA Margin (%) EBITDA Margin (%) (₹ mn) (₹ mn) (₹ mn) (₹ mn) A. Hospitality Business 4,913 2,226 45.3% 12,571 5,355 42.6% YoY Change (%) 23% 20% -82 bps 18% 17% -52 bps B. Commercial Real Estate
Slide 8: Business Performance
Business Performance T h e A D i n e r, A t h i v a K h a n d a l a
Slide 9: Hospitality: Key Highlights
Hospitality: Key Highlights Revenue (₹ million) EBITDA (₹ million) EBITDA Margin (%) 23% YoY 20% YoY 82 bps YoY Q3FY26 4,913 46.1% 45.3% 4,005 2,226 1,847 Q3 FY25 Q3 FY26 Q3 FY25 Q3 FY26 Q3 FY25 Q3 FY26 18% YoY 17% YoY 52 bps YoY 9MFY26 12,571 5,355 43.1% 42.6% 4,575 10,611 9M FY25 9M FY26 9M FY25 9
Slide 10: Hospitality: Geography wise performance (Q3 FY26)
Hospitality: Geography wise performance (Q3 FY26) Average Daily Rate Change YoY (%) Occupancy Change YoY (%) • Strong ADR growth at 30% 5% Hyderabad, Bengaluru and Pune driven by increasing 20% 0% commercial activities, tech 10% -5% & GCC growth 0% -10% • Key addition impacted -10% -15% occupancy at
Slide 11: Hospitality: Geography wise performance
Hospitality: Geography wise performance Portfolio level Q3 FY26 Q3 FY25 YoY% 9M FY26 9M FY25 YoY% 1. Average Daily Rate (₹) a. MMR 13,720 12,972 5.8% 12,141 11,325 7.2% b. Others 16,179 12,913 25.3% 14,116 11,239 25.6% Combined Portfolio 14,970 12,944 15.7% 13,143 11,285 16.5% 2. Occupancy (%) a. MM
Slide 12: Hospitality: Segment wise performance
Hospitality: Segment wise performance Portfolio level Q3 FY26 Q3 FY25 YoY% 9M FY26 9M FY25 YoY% 1. Average Daily Rate (₹) a. Business Hotels 14,454 12,823 12.7% 12,771 11,203 14.0% b. Resorts 20,104 15,425 30.3% 17,551 13,345 31.5% Combined Portfolio 14,970 12,944 15.7% 13,143 11,285 16.5% 2. Occupa
Slide 13: Hospitality: Revenue Break-up
Hospitality: Revenue Break-up (₹ million) Q3 FY26 9M FY26 4,913 336 12,571 17% 27% 4,005 912 10,611 286 1,487 720 21% 3,758 14% 1,229 3,282 24% 20% 3,090 7,901 2,489 6,609 Q3 FY25 Q3 FY26 9M FY25 9M FY26 Room F&B Others Room F&B Others 12
Slide 14: Hospitality: Operating Performance
Hospitality: Operating Performance Inventory additions and newly acquired assets to drive efficiencies going ahead Total Expenses % of Revenue Utilities % of Revenue 57.4% 56.9% 5.4% 5.3% 4.5% 4.3% 54.7% 53.9% Q3 FY25 Q3 FY26 9M FY25 9M FY26 Q3 FY25 Q3 FY26 9M FY25 9M FY26 Staff to Room Ratio (x) 0.
Slide 15: Commercial Real Estate
Commercial Real Estate Leasing Status: Q3 FY26 vs Q3 FY25 (msf.) 2.4 Dec'25 2.0 CIGNUS Powai® Tower I CIGNUS Whitefield® 0.9 Mn Sq. ft. Complex 1 Mn Sq. ft. Particulars (₹ mn) Q3 FY26 Q3 FY25 YoY 9M FY26 9M FY 25 YoY Total Revenue 744 577 29% 2,214 1,351 64% EBITDA 621 455 37% 1,836 1,042 76% 2.4 EB
Slide 16: Residential Project: Performance Highlights
Residential Project: Performance Highlights Avg Sale Price Particulars (Revenue Recognition) Q3 FY26 9M FY26 Particulars (msf.) No. of Units (₹ psf) Units handed over (nos.) 2 units 152 units Residential (1+2+3) 0.86 321 Revenue (₹ mn) 166 7,378 1 Pre FY24 sales 0.29 83 ~7,700 EBITDA (₹ mn) 41 2,742
Slide 17: Athiva Resort & Spa, Khandala: Encouraging performance
Athiva Resort & Spa, Khandala: Encouraging performance Our debut Athiva Property at Khandala, Maharashtra 6 900+ A new-age premium lifestyle hospitality brand, built on the ethos of joy, wellness and sustainability! Hotels* Keys* 16 * Includes proposed pipeline
Slide 18: Financials
Financials S k y D e c k , A t h i v a K h a n d a l a
Slide 19: Consolidated Statement of Profit & Loss (Q3 FY26)
Consolidated Statement of Profit & Loss (Q3 FY26) Q3 FY26 YoY Particulars (₹ million) Q3 FY26 Q3 FY25 YoY% (Ex-Resi) (Ex-Resi) Total Income 5,892 4,645 27% 5,726 23% Total Expenditure 3,166 2,531 25% 3,040 23% EBITDA 2,726 2,114 29% 2,686 24% Margin % 46.3% 45.5% 76 bps 46.9% 14 bps Dep and Amort. 5
Slide 20: Consolidated Statement of Profit & Loss (9M FY26)
Consolidated Statement of Profit & Loss (9M FY26) 9M FY26 YoY Particulars (₹ million) 9M FY26 9M FY25 YoY% (Ex-Resi) (Ex-Resi) Total Income 22,414 12,167 84% 15,035 24% Total Expenditure 12,899 7,014 84% 8,263 20% EBITDA 9,514 5,153 85% 6,773 28% Margin % 42.4% 42.4% 10 bps 45.0% 152 bps Dep and Amo
Slide 21: Leverage Position
Leverage Position Particulars (₹ million) FY18 FY19 FY23 FY24 FY25 YTD FY26 Allocable to operating assets 23,323 13,572* 11,768* 11,486* 13,109* ~12,945 Allocable to under- construction/to be ~3,700 ~900 ~12,600 ~13,600 ~6,800 ~7,160 operationalized assets Net Debt 27,023 14,472 24,368 25,086 19,909
Slide 22: Pipeline & Project Update
Pipeline & Project Update D u k e s B a r, A t h i v a K h a n d a l a
Slide 23: Healthy Growth Pipeline
Healthy Growth Pipeline Under construction New Rooms/ Leasable area Location Progress update Taj at Delhi International Airport 385-390 rooms New Delhi Q4 FY27 Athiva Resort & Spa at Varca, South Goa ~190 rooms Goa FY28 CIGNUS Powai® Tower II 0.9 msf Mumbai Q4 FY27 Total Under Construction ~580 room
Slide 24: Key Project Update – Taj at Delhi International Airport, NCR
Key Project Update – Taj at Delhi International Airport, NCR Q2 FY26 7th floor slab in progress ~380 keys 385-390 keysAirport AirportHotel Hotel Actual Site Images Q3 FY26 Top floor slab casted Interior works for public area in-progress Actual Site Images Rendering 23
Slide 25: 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. Q2 FY26 Q3 FY26 Podium 1 slab casted Podium 5 slab casted Actual Actual Site Site Image Image Rendering 24
Slide 26: Annexure
Annexure S w i m m i n g Po o l , A t h i v a K h a n d a l a
Slide 27: Our Presence
Our Presence Operational (Keys) In Pipeline (Keys) 11 Hotels Uttarakhand (141) New Delhi (380+) Faridabad (158) 3,389* Keys MMR# (1,517) (280) 2.4 Pune (311)/ Khandala (147) Hyderabad (595) Commercial Real Goa (360) Estate (msf+) Bengaluru (520) Thiruvananthapuram 11+1 Towers ^ (150) Residential #MM
Slide 28: 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 29: 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 30: People at the core of business acceleration
People at the core of business acceleration “HR at Chalet Hotels is a strategic enabler, driving talent, engagement, From People productivity and compliance to deliver operational excellence. These to Profit initiatives directly impact financial performance, ensuring sustainable growth and investor
Slide 31: 'Parivartan' by Chalet: Our Sustainability Story
‘Parivartan’ by Chalet: Our Sustainability Story DJSI Score Energy Management Water & Waste Management E-Mobility Corporate Wet waste treated through Sustainability organic waste composters 67 60% 100% guest fleet as EVs Assessment Score Recycling of wastewater 100% operational Renewable Energy asse
Slide 32: 'Parivartan' by Chalet: Climate Change Action
‘Parivartan’ by Chalet: Climate Change Action Climate group Initiative EP100 (Energy RE100 (Renewable Productivity): Double EV100 (Electric Energy): Move to 100% energy productivity Vehicles): Move entire renewable energy by (revenue per unit of fleet to EVs for guest 2030 electricity consumed) tran
Slide 33: Consolidated Profit & Loss Statement – 5 Year Trend
Consolidated Profit & Loss Statement – 5 Year Trend Particulars (₹ million) FY21 FY22 FY23 FY24 FY25 ADR 4,040 4,576 9,169 10,718 12,094 Occupancy 30% 51% 72% 73% 73% RevPAR 1,214 2,355 6,605 7,776 8,781 Total Income 3,075 5,297 11,780 14,370 17,541 Total Expenditure 2,785 4,093 6,757 8,327 9,818 EB
Slide 34: Consolidated Balance Sheet – 5 Year Trend
Consolidated Balance Sheet – 5 Year Trend Particulars (₹ million) FY21 FY22 FY23 FY24 FY25 Inventory: Hotels 7 7 8 10 11 Rooms 2,554 2,554 2,634 3,052 3,193 Capital Employed 32,276 35,821 38,531 38,368 48,596 Investments# 1,433 3,489 5,985 6,596 11,409 Net Worth 14,329 13,410 15,415 18,509 30,457 Ne
Slide 35: 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 Q3 FY26 Tuesday, 3rd February 2026 Management Representative 11:00 AM, IST Mr. Shwetank Singh Mr. Nitin Khanna Managing Director & Chief Financial Officer
Slide 36: 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