Chalet Hotels’ Consolidated revenue crosses INR 25 billion, EBITDA crosses INR 10 billion, and total room inventory crosses 5,000 keys
Chalet Hotels has announced its financial results for the fourth quarter and full year ended March 31, 2026, reporting a strong performance across hospitality and commercial real estate.
For FY26, the company recorded consolidated revenue, excluding residential, of INR 20.7 billion, reflecting an 18 per cent year-on-year growth. Consolidated EBITDA, excluding residential, stood at INR 9.6 billion, up 21 per cent year-on-year, with a healthy margin of 46.2 per cent. Consolidated PAT for the year stood at INR 6.5 billion.
The company’s hospitality performance remained resilient, supported by strong room rates. ARR for FY26 stood at INR 13,727, up 13 per cent year-on-year, while RevPAR rose 5 per cent to INR 9,226.
For Q4 FY26, total income, excluding residential, stood at INR 5.7 billion, up 6 per cent over Q4 FY25. Consolidated EBITDA, excluding residential, was INR 2.8 billion, also up 6 per cent year-on-year. EBITDA margin improved by 15 basis points to 49.1 per cent. Consolidated PAT for the quarter stood at INR 1.6 billion.
In the hospitality segment, Q4 FY26 revenue stood at INR 4.7 billion, up 3 per cent over Q4 FY25. ARR increased 8 per cent to INR 15,456. Occupancy stood at 68 per cent, lower by 7.7 percentage points over Q4 FY25, while RevPAR declined 3 per cent year-on-year to INR 10,544. Hospitality EBITDA stood at INR 2.2 billion, with margins of 47.4 per cent.
The commercial real estate rental and annuity business delivered strong growth during the quarter. Revenue rose 37 per cent year-on-year to INR 847 million, while EBITDA increased 42 per cent to INR 708 million, with robust margins of 83.6 per cent. The exit rental income run rate reached INR 280 million.
Chalet Hotels’ total portfolio has crossed 5,000 keys, including seven pipeline projects with around 1,655 keys. During the quarter, the company added two significant projects: a 330-key luxury greenfield hotel in Hyderabad and an approximately 144-key premium brownfield resort in Udaipur, reflecting its continued expansion strategy.
The company also strengthened its ESG credentials. In the S&P Global Corporate Sustainability Assessment dated February 27, 2026, Chalet Hotels achieved an overall score of 82 across all three ESG dimensions and ranked second globally in the Hotels, Resorts & Cruise Lines category.
Chalet Hotels was also certified as a Great Place To Work for the seventh consecutive year, reinforcing its focus on workplace culture, people practices and long-term organisational strength.
Development pipeline update
Chalet Hotels Limited also reported steady progress across its development pipeline. CIGNUS II at Powai, Mumbai, is currently under construction, with substantial completion expected by the end of FY27, although the West Asia crisis has placed some pressure on labour availability.
At Taj Delhi International Airport, construction is progressing steadily. The project is expected to see a partial opening in Q4 FY27, followed by a phased launch. Excavation work has commenced for The Ritz-Carlton, Hyderabad, marking an important step in the development of the luxury hotel project.
The company has also completed the acquisition of the Udaipur resort, where expansion potential is currently under evaluation. At Hyatt Regency, Airoli, Navi Mumbai, excavation work has commenced, and the project is progressing as per schedule.
Speaking on the financial results, Shwetank Singh, MD & CEO, Chalet Hotels, 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.”
He added, “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.”
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