Chalet Hotels (CHALET) Q4 24/25 earnings summary

Executive summary

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

• Board approved acquisition of 15-acre beachfront land in North Goa for a 170-room luxury hotel, expanding presence in a key leisure market.

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

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

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

Financial highlights

• Q4 consolidated revenue reached INR 5.4 billion, up 27% YoY; hospitality segment revenue grew 20% to INR 4.6 billion.

• FY2025 consolidated revenue was INR 17,541 million, up 22% YoY; EBITDA rose 28% to INR 7,722 million; EBITDA margin at 44.0%.

• Q4 consolidated EBITDA was INR 2.6 billion, up 36% YoY, with a margin of 47.8%, the highest ever.

• Q4 net profit grew 50% YoY to INR 1,238 million; FY2025 net profit was INR 1,425 million, impacted by a one-time deferred tax reversal.

• Rental and annuity revenue jumped 75% YoY in Q4FY25; EBITDA margin at 80.4%.

Outlook and guidance

• Confident in sustaining double-digit growth, supported by favorable demand-supply gap, efficient cost structure, and robust pipeline including ~1,250 rooms and 0.9 msf of leasable area under development.

• Geographic and segment diversification to continue, with focus on luxury and upscale assets and expansion into leisure and renewable energy.

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

• Cautious optimism amid geopolitical and regulatory uncertainties; some short-term impact on MICE and foreign travel, but long-term trajectory remains positive.