Chalet Hotels (CHALET) Q4 24/25 earnings summary

Executive summary

• Achieved record performance in FY2025 with best-ever revenue, EBITDA, and margins, driven by strong business fundamentals, operational efficiencies, and diversified growth across hospitality, rental, and residential segments.

• Board approved acquisition of 15-acre beachfront land in North Goa for a new 170-room luxury hotel, reinforcing expansion in key leisure markets.

• Expanded luxury portfolio with acquisition of The Westin Resort & Spa, Himalayas and Mahananda Spa and Resorts.

• Approved audited standalone and consolidated financial results for Q4 and FY2025, with unmodified audit opinions from statutory auditors.

• Strong macroeconomic backdrop with 6.3% expected GDP growth in FY26 and rooms demand outpacing supply.

Financial highlights

• Q4 consolidated revenue reached INR 5.4 billion, up 27% year-on-year; consolidated EBITDA at INR 2.6 billion, up 36% year-on-year, with a margin of 47.8%.

• FY2025 consolidated revenue at INR 17.2 billion, up from INR 14.2 billion YoY; EBITDA at INR 7.7 billion, up from INR 6.0 billion YoY; EBITDA margin at 44%.

• Q4 consolidated PBT at INR 1.6 billion (up 60% YoY); PAT at INR 1.2 billion (up 50% YoY); FY2025 net profit at INR 1.4 billion, impacted by a one-time deferred tax reversal.

• Hospitality segment revenue for Q4 grew 20% to INR 4.6 billion; room revenue rose 27% YoY to INR 3 billion.

• Rental and annuity revenue up 75% YoY in Q4FY25; EBITDA margin at 80%.

Outlook and guidance

• Strong growth trajectory expected, with continued focus on operational excellence, project execution, and sustainability.

• Pipeline includes ~1,250 rooms and 0.9 msf of leasable area under development, with new hotels in Delhi, Goa, Mumbai, and Kerala.

• Expansion to 5,000 rooms targeted within the next year, supported by robust balance sheet and internal accruals.

• Committed to achieving Net-Zero GHG emissions by 2040 and 100% renewable energy by 2030.

• Additional capital raising planned to support growth and refinancing.