Mumbai : Chalet Hotels Limited announces results for the fourth quarter and full year ending March 31, 2026.
Key Highlights for FY26:
- Consolidated Revenue (ex-Resi) at INR 20.7 BN up 18% YoY
- ARR at INR 13,727, up by 13% YoY; RevPAR at INR 9,226, up by 5% YoY
- Consolidated EBITDA (ex-Resi) at INR 9.6 BN up by 21%, with Margin at 46.2%
- Consolidated PAT at INR 6.5 BN
Key Highlights for Q4 FY26:
- Total Income (ex-Resi) at INR 5.7 BN, up 6% as compared to Q4FY25
- Consolidated EBITDA (ex-Resi) at INR 2.8 BN up 6% as compared to Q4FY25
- EBITDA Margin (ex-Resi) at 49.1%, up 15 bps as compared to Q4FY25
- Consolidated PAT at INR 1.6 BN
- Hospitality Segment Performance:
- Revenue at INR 4.7 BN up by 3% from Q4FY25
- ARR at INR 15,456, up by 8% over Q4FY25
- Occupancy was at 68%, lower by 7.7 pp over Q4FY25
- RevPAR reduced by 3% YoY to INR 10,544
- EBITDA stood at INR 2.2 BN with margins of 47.4%
- Commercial Real Estate (Rental/Annuity) Performance:
- Revenue at INR 847 MN up by 37% from Q4FY25
- EBITDA was at INR 708 MN, up by 42% over Q4FY25 with margins of 83.6%.
Other Highlights:
- 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 (Brownfield)
- S&P Global Corporate Sustainability Assessment (CSA) has an overall score of 82 across all three dimensions of ESG (Dated: 27/02/2026) and ranked 2nd globally in the Hotels, Resorts & Cruise Lines category.
- Commercial real estate: Exit rental income run rate reached INR 280 MN.
- Certified as a Great Place To Work for the seventh year in a row.
* 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, “Despite a year shaped by geopolitical volatility, aviation sector disruptions and extreme weather events, Chalet Hotels delivered a resilient operational and financial performance in FY26, underscoring the strength of its diversified business model and premium portfolio. The Company sustained strong pricing-led growth, driving healthy RevPAR expansion growth across key markets. Our commercial real estate portfolio also maintained strong momentum, with rental income continuing to scale steadily through the year.
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.”
