Chalet Hotels Ltd. · NSE:CHALET
Chalet Hotels — Q2 FY27 Earnings Presentation
42 slides from Chalet Hotels's earnings presentation, Nov 4, 2026
Slide 1: Exchange filing cover letter for investor presentation
November 4, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza Corporate Relationship Department Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (East), Dalal Street, Fort, Mumbai 400 051. Mumbai 400 001. Scrip Code: CHALET Scrip Code: 542399 (Equity Shares) 976529 (Non
Slide 2: Investor Presentation Q2 FY27
INVESTOR PRESENTATION Q2 FY27
Slide 3: Safe Harbor
Safe Harbor This release has been prepared by Chalet Hotels Limited (CHL) and the information on which it has been based or derived from sources that we believe to be reliable. Whilst all reasonable care has been taken to ensure the facts stated are accurate and the opinions given are fair and reaso
Slide 4: Q2 FY27 Market Outlook
Q2 FY27 Market Outlook Business Leisure Mumbai Hyderabad Bengaluru Pune Leisure • Mixed scenario due to • Corporate, GCC and • Transient demand • Revenue growth exceeded • Transient demand impact on FTA & air travel relocation demand improved; corporate travel expectations, supported exceeded last y
Slide 5: Key Highlights
Key Highlights Native Bar, Athiva Pulse Navi Mumbai
Slide 6: ATHIVA Pulse, Navi Mumbai – Autograph Collection
Rebranded business hotel at Navi Mumbai as ATHIVA® Pulse, Navi Mumbai – Autograph Collection
Slide 7: The Daily Club – dedicated wellness floor
“The Daily Club” – A 30k sqft dedicated floor for wellness at ATHIVA® Pulse, Navi Mumbai – Autograph Collection
Slide 8: Chalet Hotels – Q2FY27 Key Highlights
Chalet Hotels – Q2FY27 Key Highlights • Core Business Revenue grew 11% YoY to ₹5,110 mn with EBITDA up 13% YoY to ₹2,274 mn. Consolidated financials are not comparable YoY due to income from Residential project booked in Q2FY26 • RevPAR up 7.2% YoY despite the ongoing West Asia geopolitical scenario
Slide 9: Chalet Hotels – Q2FY27 Key Highlights
Chalet Hotels – Q2FY27 Key Highlights Revenue EBITDA EBITDA Margin (₹ mn) (₹ mn) (%) 5,110 2,274 45% Ex- Residential 11% YoY 13% YoY 110 bps Q2 FY27 Financials 5,114 2,270 44% Consolidated 31% YoY 26% YoY 301 bps 10,250 4,674 46% Ex- Residential 10% YoY 14% YoY 170 bps H1 FY27 Financials 10,327 4,70
Slide 10: Business Performance
Business Performance Athiva Pulse Navi Mumbai – Autograph Collection
Slide 11: Hospitality: Q2FY27 Key Highlights
Hospitality: Q2FY27 Key Highlights Revenue (₹ million) EBITDA (₹ million) 8.2% YoY 11.2% YoY 3,802 4,115 257 1.7% 252 1,691 1,521 1,164 1,094 6.4% Q2 FY26 Q2 FY27 EBITDA Margin (%) 110 bps YoY 2,694 2,455 9.7% 40.0% 41.1% Q2 FY26 Q2 FY27 Room F&B Others Q2 FY26 Q2 FY27 10
Slide 12: Hospitality: H1FY27 Key Highlights
Hospitality: H1FY27 Key Highlights Revenue (₹ million) EBITDA (₹ million) 8.4% YoY 11.1% YoY 7,658 8,300 561 2.6%* 3,475 3,129 576 2,442 7.6% H1 FY26 H1 FY27 2,271 EBITDA Margin (%) 101 bps YoY 5,296 10.1% 4,811 40.9% 41.9% H1 FY26 H1 FY27 Room F&B Others H1 FY26 H1 FY27 Note: *One-time write back o
Slide 13: Hospitality: Geography wise performance
Hospitality: Geography wise performance Portfolio level Q2 FY27 Q2 FY26 YoY% H1FY27 H1FY26 YoY% 1. Average Daily Rate (₹) a. MMR 12,555 11,057 13.5% 12,512 11,318 10.6% b. Others 14,420 13,239 8.9% 14,175 13,034 8.8% Combined Portfolio 13,546 12,170 11.3% 13,397 12,188 9.9% 2. Occupancy (%) a. MMR 6
Slide 14: Hospitality: Segment wise performance
Hospitality: Segment wise performance Portfolio level Q2 FY27 Q2 FY26 YoY% H1FY27 H1FY26 YoY% 1. Average Daily Rate (₹) a. Business Hotels 13,403 12,035 11.4% 13,037 11,910 9.5% b. Resorts 15,083 14,219 6.1% 16,828 15,832 6.3% Combined Portfolio 13,546 12,170 11.3% 13,397 12,188 9.9% 2. Occupancy (%
Slide 15: Hospitality: Operating Performance
Hospitality: Operating Performance Inventory additions and newly acquired assets to further drive efficiencies going ahead Total Expenses % of Revenue Utilities % of Revenue 60.0% 58.9% 6.0% 5.6% Q2 FY26 Q2 FY27 Q2 FY26 Q2 FY27 Staff to Room Ratio (x) Payroll % of Revenue 0.98 0.98 15.5% 15.2% Sep'2
Slide 16: Commercial Real Estate leasing status
Commercial Real Estate Leasing Status: Sep’26 vs Sep’25 (msf.) Consolidated Property-wise break-up of Leasable area (Sep’26) 77% 91% 2.4 2.4 2.1 1.8 The Orb Retail, Sahar CIGNUS Powai® Tower I CIGNUS Whitefield® Complex 95% 90% 89% Sep'25 Sep'26 Leased Area Leasable Area Particulars 0.9 Q2FY27 Q2FY2
Slide 17: Residential Project: Performance Highlights
Residential Project: Performance Highlights Residential Commercial Phase - 1 Phase - 2 ~160,000 sq. ft. 153 apartments 168 apartments Leasable area Handed over Awaiting handover Under development Pending Avg Sale Price Phase (msf.) Units handover (₹ psf) Residential – I 0.55 153 - - Residential - II
Slide 18: Financials
Financials Infrared Sauna, Athiva Pulse Navi Mumbai
Slide 19: Consolidated Performance
Consolidated Performance Q2 FY27 H1 FY27 Revenue EBITDA EBITDA Margin Revenue EBITDA EBITDA Margin Particulars (₹ mn) (₹ mn) (%) (₹ mn) (₹ mn) (%) A. Hospitality Business 4,115 1,691 41% 8,300 3,475 42% YoY Change (%) 8.2% 11.2% 110 bps 8.4% 11.1% 101 bps B. Commercial Real Estate 901 750 83% 1,765
Slide 20: Consolidated Statement of Profit & Loss
Consolidated Statement of Profit & Loss Q2 FY27 YoY Particulars (₹ million) Q2 FY27 Q2 FY26 YoY% (Ex-Resi) (Ex-Resi) Total Income 5,114 7,438 -31.2% 5,110 10.7% Total Expenditure 2,844 4,361 -34.8% 2,835 8.5% EBITDA 2,270 3,077 -26.2% 2,274 13.5% Margin % 44% 41% 301 bps 45% 110 bps Dep and Amort. 6
Slide 21: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (₹ million) Sep’26 Mar’26 Fixed Assets 36,290 33,145 Capital Work in-progress 2,040 1,325 Investment Property 23,872 22,641 Goodwill 817 817 Other Non-Current Assets 6,120 6,126 Cash and Cash Equivalents 2,076 1,640 Other Current Assets 9,556 7,391 TOTAL ASSETS
Slide 22: Leverage Position
Leverage Position Particulars (₹ million) FY19 FY23 FY24 FY25 FY26 H1 FY27 Allocable to operating assets 13,572* 11,768* 11,486* 13,109* 10,947 7,130 Allocable to under- construction/to be ~900 ~12,600 ~13,600 ~6,800 ~8,258 ~14,000 operationalized assets Net Debt 14,472 24,368 25,086 19,909 19,206 2
Slide 23: Pipeline & Projects Update
Pipeline & Projects Update Athiva Pulse Navi Mumbai – Autograph Collection
Slide 24: Robust Project Pipeline – High Growth Visibility
Robust Project Pipeline – High Growth Visibility CRE: 0.9msf Hospitality: 2,036 Keys including 906 Keys under ATHIVA® Taj Delhi International Premium Resort at Athiva, Hyderabad Hyatt Regency at Airoli, Ritz Carlton at Hyderabad Airport, New Delhi Udaipur Financial District Navi Mumbai ~380 Keys/ FY
Slide 25: Chalet Hotels: Creating Value
Chalet Hotels: Creating Value Contrast Therapy, Athiva Pulse Navi Mumbai
Slide 26: Capabilities developed
25+ years of evolution towards becoming a leading hospitality player Chalet’s evolution as a leading hospitality player from “Pure Asset Owner Model” to “Hybrid Model” Brand Ownership Portfolio & Platform Capabilities • 25+ years' legacy in asset Entered “Franchise” model management and hotel Asset
Slide 27: Rapid growth in presence, earnings as we evolved
Rapid growth in presence, earnings as we evolved 5,425 5,044 4,564 3,922 1,655 2,036 3,620 1,250 Expanding 2,911 870 986 presence 580 (Key count) 3,052 3,314 3,389 3,389 2,331 2,634 Total Pipeline Operational FY19 FY23 FY24 FY25 FY26 Sep'26 Revenue: 2x | EBITDA: 2.6x FY19 FY23 FY24 FY25 FY26 Rapid g
Slide 28: Unparalleled Execution Excellence
Unparalleled Execution Excellence Unparalleled Execution Excellence 121 keys, 8 suites delivered in 15 months. Bengaluru (MEP, fit-outs, interiors) Marriott Apr’24 May’25 Jul’25 Hotel Whitefield Work 121 keys 8 suites commenced commenced commenced 30 additional keys, Gaming room, Gym, Meeting & Conf
Slide 29: Creating Value: Powai
Creating Value: Powai Capitalizing Investment Through Active Asset Management 28 Po w a i C o m p l e x , M u m b a i
Slide 30: Powai Complex: Continuous Value Creation with Upgrades & Additions
Powai Complex: Continuous Value Creation with Upgrades & Additions FY 2000 FY 2001 FY 2022 FY 2025 FY 2027 (P) Lakeside Chalet, Renaissance Rebranding to Marriott Executive Mumbai Convention The Westin Mumbai CIGNUS Tower I CIGNUS Tower II Apartments Centre Hotel Powai Lake Recent value-adds at the
Slide 31: Annexure
Annexure Navi Mumbai Baking Café, Athiva Pulse Navi Mumbai
Slide 32: Strong Leadership: Board of Directors
Strong Leadership: Board of Directors Hetal Gandhi Chairman & Independent Director Joseph Conrad D’Souza Arthur De Haast Radhika Piramal Manish Chokhani Gautam Mehra Independent Director Independent Director Independent Director Independent Director Independent Director Ravi C. Raheja Neel C. Raheja
Slide 33: Strong Leadership: Management
Strong StrongLeadership: Leadership:Management Management Shwetank Singh Nitin Khanna Gaurav Singh Salil Khare Manoj Agarwal Managing Director & Chief Financial Officer Chief Operating Officer Chief Projects Officer Chief Growth & Chief Executive Officer Product Officer Over two and a half Over two
Slide 34: People Powering Growth through Talent, Capability & Culture
People Powering Growth through Talent, Capability & Culture Entry Level Talent Brought in through programs & Best-in-Industry SELF SUSTAINING TALENT ALL IN THE ENVIRONMENT OF partners like Neev & Job Plus Productivity Ratios “One chalet” culture FLYFEEL FOR SCALE Internal Talent Pool Developed throu
Slide 35: 'Parivartan' by Chalet: Our Sustainability Story
‘Parivartan’ by Chalet: Our Sustainability Story DJSI Score Energy Management Water & Waste Management E-Mobility Corporate 61% 100% organic waste treated Sustainability through organic waste 82 composters 100% guest fleet as EVs Assessment Score % Share of 100% operational Recycling of wastewater R
Slide 36: 'Parivartan' by Chalet: Climate Change Action
‘Parivartan’ by Chalet: Climate Change Action Initiative RE100 (Renewable EP100 (Energy Productivity): Double EV100 (Electric Chalet Hotels commits to Energy): Move to 100% renewable energy by energy productivity (revenue per unit of Vehicles): Move entire fleet to EVs for guest achieve Net- Zero 20
Slide 37: Consolidated Profit & Loss Statement – Annual Trend
Consolidated Profit & Loss Statement – Annual Trend Particulars (₹ million) FY21 FY22 FY23 FY24 FY25 FY26 ADR 4,040 4,576 9,169 10,718 12,094 13,727 Occupancy 30% 51% 72% 73% 73% 67% RevPAR 1,214 2,355 6,605 7,776 8,781 9,226 Total Income 3,075 5,297 11,780 14,370 17,541 28,124 Total Expenditure 2,7
Slide 38: Consolidated Balance Sheet – 5 Year Trend
Consolidated Balance Sheet – 5 Year Trend Particulars (₹ million) FY21 FY22 FY23 FY24 FY25 FY26 Inventory: Hotels 7 7 8 10 11 11 Rooms 2,554 2,554 2,634 3,052 3,193 3,389 Capital Employed 32,276 35,821 38,531 38,368 48,596 60,220 Investments# 1,433 3,489 5,985 6,596 11,409 4,393 Net Worth 14,329 13,
Slide 39: Our Presence
Our Presence Operational (Properties/ Pipeline (Properties/ Keys) Keys) Existing Footprint Uttarakhand (1/ 141) New Delhi (1/ ~380) Faridabad (1/ 158) 11 3,389 2.4 11+1 Towers ^ Assets Keys Commercial Real Estate# Residential (msf+) Udaipur (1/ ~144) MMR# (4/ 1,517) (1/ 276) Pune (1/ 311) (1/ 231) /
Slide 40: Glossary of Assets
Glossary of Assets A. Hotels Location Keys Keys 1. JW Marriott Mumbai Sahar MMR 588 2. The Westin Mumbai Powai Lake MMR 604 1,517 3. Lakeside Chalet, Mumbai - Marriott Executive Apartments MMR 173 4. Athiva Pulse Navi Mumbai – Autograph Collection MMR 152 5. Novotel Pune Nagar Road Pune 311 6. Athiv
Slide 41: Earnings Call – Chalet Hotels
Earnings Call – Chalet Hotels Chalet Hotels Ltd cordially invites you to their Earnings Call to discuss operational and financial performance for Q2 FY27 Thursday, 5th November 2026 Management Representatives 11:00 AM, IST Mr. Shwetank Singh Mr. Nitin Khanna Managing Director & Chief Financial Offic
Slide 42: Thank you!
Thank you! Investor Relations Contact: Deepak Khetan [email protected] [email protected]