Runs hotels, develops and sells residential real estate, and earns rental income from commercial office space. In FY26, hospitality (hotels) was the largest revenue stream at 61.6% of segment revenue at Rs 1,731.131 cr, drawing guests across a portfolio of more than 5,000 keys; Q1 FY27 hospitality RevPAR was Rs 8,582 (+6.5% YoY) with average rate up 8.5% and leisure hotels delivering 19% RevPAR growth. The real estate segment contributed 26.3% of segment revenue at Rs 738.312 cr from sale of residential apartments, an inherently lumpy line — Q1 FY27 saw only 1 unit handed over versus 95 a year earlier. The rental/annuity business contributed Rs 306.086 cr (10.9% of segment revenue) by leasing commercial office space at the Powai complex in Mumbai, including the 0.9 mn sqft Cygnus 1 (over 90% occupied, ~Rs 1,300 mn annual EBITDA) with a further 0.9 mn sqft Cygnus 2 commissioning in FY27-28. The largest cost line is other operating expenses at 27.4% of revenue, followed by employee costs at 10.4%; depreciation runs at 8.3%, reflecting the asset-heavy hotel and property model. EBITDA margin was 44.4% in FY26, and management has guided to ~Rs 30 bn of capex over FY27-FY29 to grow the hotel pipeline (currently 1,655 keys across projects like Ritz-Carlton Hyderabad) and commercial real estate. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Hospitality (Hotels) (62%), Real Estate (26%), Rental / Annuity Business (11%), Unallocated (1%). Asset-heavy hospitality operator and mixed real estate developer
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 508 | 1,128 | 1,417 | 1,718 | 2,770 |
| EBITDA (ex other income) | 94 | 495 | 585 | 736 | 1,186 |
| margin % | 18.5 | 43.9 | 41.2 | 42.8 | 42.8 |
| Owners' profit | (82) | 0 | 278 | 143 | 645 |
| EPS, as reported (₹) | (3.98) | 8.94 | 13.54 | 6.53 | 29.50 |
| ROE % · ROCE % | (6.1) · (0.1) | 11.9 · 11.1 | 15.0 · 12.1 | 4.7 · 12.2 | 17.4 · 16.6 |
| Debt / equity (x) | 1.89 | 1.81 | 1.59 | 0.84 | 0.63 |
| Cash from operations | 62 | 477 | 689 | 950 | 1,067 |
| Capex | (42) | (175) | (436) | (969) | (338) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 377 | 458 | 522 | 895 | 735 | 582 | 558 | 512 |
| Profit before tax | 79 | 118 | 159 | 269 | 205 | 167 | 178 | 133 |
| Net profit | (139) | 97 | 124 | 203 | 155 | 124 | 163 | 86 |
| EPS (₹) | (6.35) | 4.42 | 5.68 | 9.30 | 7.08 | 5.67 | 7.45 | 3.93 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Hospitality (Hotels) | 1,731 | 61.6 |
| Real Estate | 738 | 26.3 |
| Rental / Annuity Business | 306 | 10.9 |
| Unallocated | 37 | 1.3 |
| Total, before eliminations | 2,812 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| THE INDIAN HOTELS CO. LTD | 1,02,271 | 47.7 | 6.85 | 27.2 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Sept 2026 · Chalet Hotels completes acquisition of Lakeview Mercantile Company | strategic transactions | high | — | — |
| 7 Sept 2026 · Chalet Hotels completes acquisition of Lakeview Mercantile in Goa | strategic transactions | high | — | — |
| 31 Aug 2026 · Chalet Hotels shares weblink of FY2026 Integrated Annual Report with shareholders | compliance | minimal | — | — |
| 31 Aug 2026 · Newspaper publication of Chalet Hotels AGM notice | compliance | minimal | — | — |
| 29 Aug 2026 · Chalet Hotels files BRSR with Integrated Annual Report for FY 2025-26 | compliance | minimal | — | — |
| 29 Aug 2026 · Chalet Hotels 41st AGM on Sept 21: Re 1 dividend, Rs 1000 cr debt plan | board shareholder meetings | medium | — | — |
| 29 Aug 2026 · Chalet Hotels 41st AGM notice, FY26 annual report, Re.1 dividend, Rs.1000cr debt plan | board shareholder meetings | medium | — | — |
| 26 Aug 2026 · Investor conference participation on Sept 2, 2026 | board shareholder meetings | low | — | — |
| 25 Aug 2026 · Chalet Hotels 41st AGM scheduled for September 21, 2026 | compliance | minimal | — | — |
| 25 Aug 2026 · Four Points Vashi rebranded as Athiva Pulse under Marriott Autograph | business updates | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 15.0 |
| 16.2 |
| 43.8 |
| 32.2 |
| ITC HOTELS LIMITED | 32,180 | 37.1 | 2.75 | 20.9 | 7.0 | 9.0 | — | 37.5 |
| CHALET HOTELS LIMITED ◆ | 19,293 | 36.5 | 5.22 | 17.5 | 17.4 | 13.6 | 56.6 | 45.5 |
| EIH LIMITED | 17,976 | 25.3 | 3.32 | 16.8 | 12.2 | 14.9 | 42.7 | 31.6 |
| LEELA PALACES HOTEL LTD | 17,930 | 29.6 | 2.78 | 24.0 | 6.2 | 5.9 | — | 43.2 |
| VENTIVE HOSPITALITY LTD | 13,431 | 28.0 | 1.99 | 11.8 | 7.4 | 7.4 | — | 37.7 |
| LEMON TREE HOTELS LTD | 8,314 | 35.4 | 4.00 | 15.4 | 13.9 | 9.2 | 41.8 | 44.1 |
| INDIA TOUR. DEV. CO. LTD. | 5,888 | 71.8 | 14.33 | 48.1 | 20.0 | 26.6 | 24.7 | 17.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 36.5 | 24.1 | 42 of 60 | 31% |
| P/B | 5.2 | 1.9 | 51 of 57 | 11% |
| ROCE | 13.6 | 4.9 | 12 of 65 | 83% |
| ROE | 17.4 | 6.4 | 8 of 59 | 88% |
| Debt / Equity | 0.6 | 0.2 | 44 of 59 | 26% |
| EBITDA margin | 45.5 | 29.5 | 13 of 58 | 79% |
| Revenue growth | (42.7) | 7.6 | 56 of 58 | 4% |
| Profit growth | (57.6) | 11.6 | 44 of 55 | 20% |
| Market cap | 19293 | 274 | 3 of 66 | 97% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
