CHALET

Chalet Hotels share price & financials

Price
₹802.35
Market cap
₹18.4k Cr
Sector
Consumer Services
Calls analysed
7
Latest concall · Q1 FY27 · call held 30 Jul 2026

Chalet Hotels Limited Q1 FY27

Net Profit ₹86.1 cr

What went well

  • Core business revenue (excluding residential segment) grew 10% year-on-year to INR 514 crores.
  • Core business EBITDA (excluding residential segment) increased 15% year-on-year to INR 240 crores, with EBITDA margins expanding 231 basis points to 46.7%.
  • Hospitality RevPAR increased by 6.5% year-on-year, largely driven by an 8.5% year-on-year growth in average daily rates.

What to watch

  • International business, excluding crew, remained flat year-on-year due to the West Asia conflict.
  • Mumbai Metropolitan Region (MMR) RevPAR was pulled down by Powai and Vashi due to ongoing construction and renovation activities.
Read the full call →

What Chalet Hotels Limited does

Chalet Hotels owns and operates upscale and luxury hotels and resorts across Indian metros and leisure markets, largely under global brands such as JW Marriott, The Westin, Four Points by Sheraton, Courtyard by Marriott and Novotel, alongside its own premium lifestyle brand Athiva, earning revenue from rooms, food & beverage and banqueting. It also owns and leases Grade-A commercial office space under its own CIGNUS brand and The Orb Commercial Tower in Mumbai's Powai and Bengaluru's Whitefield micro-markets. A third business, Residential, develops and sells apartments (Raheja Vivarea) at Powai, Mumbai, along with an accompanying commercial component for strata sale or lease.

Segments

  • Hospitality
  • Commercial Real Estate
  • Residential Project
Operational hotels
11 hotels
Operational hotel keys (rooms)
3,389 keys
Total portfolio keys (operational + pipeline)
5,044 keys
Hotels in pipeline / under development
7 projects, ~1,655 keys
Commercial real estate leasable area
2.4 million sq ft
Residential towers developed
11 residential towers (9 completed) + 1 commercial tower
Headquarters Mumbai, Maharashtra, India Company website

Guidance record · Q1 FY27

what the last two calls moved 17 tracked 3 delivered 3 missed 11 open
  • Net Debt to EBITDA Ratio delivered said Q4 FY25 Promised: 3.0x - 3.5x at Peak Debt Q1 FY27: Net debt at ₹20.4B with annualized Q1 Core EBITDA of ~₹9.6B results in a ratio of ~2.12x, remaining well below the guided ceiling.
  • RevPAR Growth missed said Q1 FY26 Promised: Double-digit for next 3-4 years Q1 FY27: Hospitality RevPAR increased by 6.5% YoY, again falling short of the double-digit target.
  • Total Capital Expenditure on track said Q3 FY25 Promised: ₹2,000 crores over the next 3 years Q1 FY27: Reiterated the planned capex of approximately INR30 billion over FY27 to FY29, to be largely funded through internal accruals.

All 17 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue down 42.8%, net profit down 57.6% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue377 458 522 895 735 +95%582 +27%558 +7%512 −43%
EBITDA150 205 241 357 299 +99%265 +29%266 +10%234 −34%
Net profit-139 97 124 203 155 +212%124 +28%163 +31%86 −58%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −15.7% 1Y

₹0.7k₹0.8k₹0.9k₹1.0kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 4 Nov 2025Q3 FY26 — 3 Feb 2026Q4 FY26 — 15 May 2026Q1 FY27 — 30 Jul 2026

1Y: ₹1,040.3 on 10 Sept 2025 → ₹877.25. High ₹1,064.6 (16 Sept 2025), low ₹702.3 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−3.8%
30 Jul
Q4 FY26
+4.2%
15 May
Q3 FY26
+4.6%
3 Feb
Q2 FY26
−3.4%
5 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 34.9% a year over 3 years, FY23 to FY26. Operating margin widened to 42.9%.

Year endingFY23FY24FY25FY26
Revenue₹1.1k Cr₹1.4k Cr₹1.7k Cr₹2.8k Cr
Operating profit₹452 Cr₹585 Cr₹736 Cr₹1.2k Cr
Operating margin40.0%41.3%42.8%42.9%
Interest₹155 Cr₹196 Cr₹159 Cr₹181 Cr
Depreciation₹118 Cr₹138 Cr₹179 Cr₹229 Cr
Net profit₹184 Cr₹278 Cr₹143 Cr₹645 Cr
Net margin16.3%19.6%8.3%23.3%
Cash from operations₹477 Cr₹689 Cr₹950 Cr₹1.1k Cr
Free cash flow₹305 Cr₹262 Cr₹-14 Cr₹729 Cr
ROCE9.0%10.0%12.0%18.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹205 Cr₹205 Cr₹205 Cr₹205 Cr₹219 Cr₹219 Cr
Reserves₹1.2k Cr₹1.1k Cr₹1.3k Cr₹1.7k Cr₹3.2k Cr₹3.5k Cr
Borrowings₹2.0k Cr₹2.6k Cr₹2.8k Cr₹2.8k Cr₹2.5k Cr₹2.1k Cr
Other liabilities₹540 Cr₹527 Cr₹558 Cr₹918 Cr₹1.1k Cr₹1.2k Cr
Total liabilities₹3.9k Cr₹4.5k Cr₹5.0k Cr₹5.6k Cr₹7.0k Cr₹7.1k Cr
Fixed assets₹2.8k Cr₹3.4k Cr₹3.7k Cr₹4.0k Cr₹5.4k Cr₹4.5k Cr
Capital work in progress₹36 Cr₹32 Cr₹92 Cr₹14 Cr₹122 Cr₹76 Cr
Investments₹131 Cr₹6 Cr₹166 Cr₹211 Cr₹40 Cr₹793 Cr
Other assets₹984 Cr₹1.0k Cr₹979 Cr₹1.4k Cr₹1.4k Cr₹1.6k Cr
Total assets₹3.9k Cr₹4.5k Cr₹5.0k Cr₹5.6k Cr₹7.0k Cr₹7.1k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +1.07 pp while FIIs trimmed −1.03 pp. The shareholder count shrank 23% to 49,687.

Promoters
67.3%
FIIs
4.3%
DIIs
25.0%
Public
3.5%

Since Jun 2025

  • DIIs +1.07 pp
  • FIIs −1.03 pp
  • Promoters −0.11 pp

How it drifted, 12 quarters

Over this window promoters fell from 71.7% to 67.3% — −4.4 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 71.7%, FIIs 2.5%, DIIs 21.8%, Public 4.0%.Dec '23: Promoters 71.7%, FIIs 3.1%, DIIs 20.7%, Public 4.5%.Mar '24: Promoters 71.7%, FIIs 4.2%, DIIs 19.6%, Public 4.5%.Jun '24: Promoters 67.5%, FIIs 6.8%, DIIs 21.5%, Public 4.2%.Sep '24: Promoters 67.5%, FIIs 7.0%, DIIs 21.5%, Public 4.0%.Dec '24: Promoters 67.4%, FIIs 7.5%, DIIs 21.2%, Public 3.9%.Mar '25: Promoters 67.4%, FIIs 5.2%, DIIs 23.9%, Public 3.4%.Jun '25: Promoters 67.4%, FIIs 5.3%, DIIs 23.9%, Public 3.4%.Sep '25: Promoters 67.3%, FIIs 5.7%, DIIs 23.4%, Public 3.5%.Dec '25: Promoters 67.3%, FIIs 5.1%, DIIs 24.0%, Public 3.6%.Mar '26: Promoters 67.3%, FIIs 4.7%, DIIs 24.6%, Public 3.4%.Jun '26: Promoters 67.3%, FIIs 4.3%, DIIs 25.0%, Public 3.5%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 2 holders trimming and 3 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Chalet Hotels Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
HDFC Mutual Fund - HDFC Business Cycle Fund Mutual fund8.57%newly disclosed
Capstan Trading Llp 7.53%unchanged
Casa Maria Properties Llp 7.53%unchanged
Raghukool Estate Developement Llp 7.53%unchanged
Touchstone Properties And Hotels Pvt Ltd 6.62%unchanged
Anbee Constructions Llp 6.01%unchanged
Cape Trading Llp 6.01%unchanged
K Raheja Pvt Ltd 5.66%unchanged
Neel Chandru Raheja 4.72%unchanged
SBI Small Cap Fund Mutual fund4.14%newly disclosed
Palm Shelter Estate Development Llp 3.68%unchanged
Jyoti Chandru Raheja 3.55%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in CHALET

Filings to Aug 2026

1 new, 7 added, 2 trimmed, 0 sold out — net +10.21 L shares (+3.7%).

Held by funds
₹2.5k Cr
15 schemes
Biggest holder
SBI Smallcap Fund
₹814 Cr · 1.9% of that fund
SchemeHoldingLast month
SBI Smallcap Fund SBI Mutual Fund₹814 Crheld
HDFC Small Cap Fund HDFC Mutual Fund₹611 Cr+5.59 L
Nippon India Large Cap Fund Nippon India Mutual Fund₹513 Cr−2.06 L
HDFC Multi Cap Fund HDFC Mutual Fund₹157 Crheld
HDFC Hybrid Equity Fund HDFC Mutual Fund₹130 Crheld
HDFC ELSS Tax saver HDFC Mutual Fund₹106 Cr+4.00 L
HDFC Value Fund HDFC Mutual Fund₹57 Cr+2.01 L
HDFC Retirement Savings Fund - Equity Plan HDFC Mutual Fund₹49 Crheld

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

7 added, 2 trimmed — net +10.21 L shares (+3.7%)

Funds are sitting on
+82%
vs est. average cost
Held by funds
₹2.5k Cr
15 schemes · ≈ 13% of the company
Biggest holder
SBI Smallcap Fund
₹814 Cr · 1.9% of that fund
Longest holder
Nippon India Large Cap Fund
7y 8m · since Jan '19

Shares held by these funds +0%

Aug '23 2.92 cr shares Jul '26

What the price assumes

Attractive

To justify its price of ₹877, this stock must grow earnings at 24% every year for 7 years. Our analysis caps realistic growth at ~85%. At that growth it is worth ₹12018 — upside of 1270%.

Growth the price implies
24.1% a year
for 7 years, fading to 4%
It has actually compounded at
88.0% a year
net profit, FY23–FY26 · EPS 84.7%
The gap
-0.6 pp
1270% downside if it only repeats history
Price today ₹877.25 Value at the reference growth ₹12,018.32

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Chalet Hotels Limited

Guides on how to read this kind of business and the numbers that matter.