Mumbai, January 29, 2025 – Chalet Hotels Limited has reported strong financial results for Q3 FY25, achieving a 22% year-over-year (YoY) revenue growth, driven by robust hospitality performance and expansion in rental and real estate segments.
Key Financial Highlights (Q3 FY25 vs Q3 FY24)
- Total Income: ₹4,645 million, up from ₹3,799 million (+22%)
- EBITDA: ₹2,114 million, up from ₹1,722 million (+23%)
- EBITDA Margin: 45.5% (vs. 45.3% in Q3 FY24)
- Profit Before Tax (PBT): ₹1,184 million, up from ₹887 million (+33%)
- Net Profit: ₹965 million, up from ₹706 million (+37%)
Nine-Month Performance (9M FY25 vs 9M FY24)
- Total Income: ₹12,167 million, up from ₹10,126 million (+20%)
- EBITDA: ₹5,153 million, up from ₹4,154 million (+24%)
- Profit Before Tax (PBT): ₹2,755 million, up from ₹1,703 million (+62%)
Segment-Wise Performance
Hospitality Segment
- Revenue: ₹4,005 million, up from ₹3,434 million (+17%)
- EBITDA: ₹1,847 million, up from ₹1,589 million (+16%)
- ADR (Average Daily Rate): ₹12,944, up from ₹10,974 (+18%)
- RevPAR (Revenue Per Available Room): ₹9,090, up from ₹7,838 (+16%)
Rental & Annuity Business
- Revenue: ₹577 million, up from ₹302 million (+91%)
- EBITDA: ₹455 million, up from ₹240 million (+82%)
- Occupancy Rate: Increased 33% quarter-on-quarter
Real Estate Developments
- Residential Sales: 0.86 million sq. ft. sold, commanding an average price of ₹19,700 per sq. ft.
- Bengaluru Residential Project: Strong sales velocity with higher average pricing per square foot.
Expansion & Strategic Developments
- Ongoing Hotel Expansion:
- Bengaluru Marriott Whitefield: Adding 125-130 rooms by Q4 FY25.
- Taj at Delhi International Airport: 385-390 rooms, expected completion Q1 FY27.
- Hyatt Regency Airoli, Navi Mumbai: ~280 rooms, expected in H2 FY27.
- Goa Luxury Resort: ~170 rooms, targeting FY28.
- Office & Retail Development:
- CIGNUS Powai Tower II (0.9 million sq. ft.) – Expected Q4 FY27.
- CIGNUS Whitefield Bengaluru Complex (1 million sq. ft.) – Expansion in progress.
Sustainability & ESG Commitments
- 61% of energy consumption from renewable sources.
- Targeting net-zero greenhouse gas (GHG) emissions by 2040.
- Certified 'Great Place to Work' with a 97% trust index score in 2024.
- 100% operational assets equipped with EV charging stations.
Management Commentary & Future Outlook
Managing Director & CEO Sanjay Sethi stated, “Q3 FY25 marks a milestone quarter with record revenue and strong profitability. Our diversified business model, coupled with sustained demand in hospitality and real estate, positions us well for long-term growth.”Future Growth Strategy
- Expanding hospitality footprint with luxury and business hotel developments.
- Strengthening rental and annuity business with increased office space leasing.
- Enhancing sustainability initiatives with renewable energy adoption.