• Core business growth: Combined hospitality and commercial revenue grew 10% year-on-year with EBITDA up 15%, while standalone hospitality revenue rose 9% with margins reaching 42.6%. Average daily rates increased by 8.5% and overall RevPAR grew 6.5%, supported by domestic travel and MICE demand offsetting geopolitical headwinds from West Asia.
• Residential segment exit: Chalet will recognize the remaining 160 units of its Koramangala residential project over the next two quarters before exiting the residential segment entirely. The legacy project is expected to leave approximately ₹500 crore in net cash on the balance sheet.
• Commercial pipeline progress: The 0.9 million square feet commercial development in Powai is slated for operational handover by the end of FY27, with 60% to 70% of rental revenue expected to kick in by FY28. At full occupancy, the asset is projected to generate roughly ₹200 crore in annual rental income.
• Capex and funding: Management expects to fund its three-year, ₹3,000 crore capex pipeline—including 1,190 under-construction hotel rooms and the Udaipur hotel upgrade—entirely through internal cash accruals. Commercial rental cash flows of ₹300 crore to ₹350 crore annually will fully cover company interest costs while preserving borrowing headroom for future growth.