{"id":138498,"date":"2022-12-23T09:31:00","date_gmt":"2022-12-23T14:31:00","guid":{"rendered":"https:\/\/44.250.171.167\/?p=138498"},"modified":"2022-12-23T09:31:01","modified_gmt":"2022-12-23T14:31:01","slug":"chalet-hotels-development-in-ongoing-projects-other-updates","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/chalet-hotels-development-in-ongoing-projects-other-updates\/","title":{"rendered":"Chalet Hotels: Development In Ongoing Projects & Other Updates"},"content":{"rendered":"

Chalet Hotels Limited<\/a> (NSE: CHALET<\/a>) owns, develops, manages, and operates high-end hotels in major Indian cities such as Mumbai, Hyderabad, Bengaluru, and Pune. The company is committed to maximizing returns on every square foot that is owned and operated while promoting business efficiencies from the pre-development stage through the entire asset lifecycle. The company’s portfolio consists of seven fully operational hotels with 2,554 keys in the midscale and upscale segments, as well as four commercial structures with a combined square footage of roughly 0.9 million. With a focus on gross built-up area and development cost per key, the company excels at identifying prime locations and efficiently designing and developing properties.<\/p>\n\n\n

<\/div>\n\n\n\n

Financial Performance & Segment Revenue<\/strong><\/h3>\n\n\n

Chalet Hotels Limited posted a Revenue from operations for Q2 FY23 of \u20b9247.8 Crore up from \u20b9128.1 Crore year on year, a growth of 93%. Consolidated Net Profit was \u20b915.7 Crore, compared to a loss of -\u20b913.8 Crore in the same quarter of the previous year. The Earnings per Share is \u20b90.77 for this quarter.<\/p>\n\n\n

The Revenue was driven by Hospitality Hotels segment which surged by 143% to \u20b9223.3 Crore. In this segment, the Room business contributed 59% whereas the Food & Beverage business contributed 33% and the remaining is other income. Chalet Hotels\u2019 second segment, the Rent\/Annuity business, has generated a Revenue of 24.4 Crore.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n
<\/div>\n\n\n\n

Updates On Chalet Hotels\u2019 Ongoing Projects<\/strong><\/h3>\n\n\n

The 168-room Westin 2 in Hyderabad and the commercial tower at Powai will be finished in the final quarter of this fiscal year. Whereas, the new commercial tower at Bengaluru has already received part occupancy certificate. However, the residential development in Whitefield (same city) is yet to get the RERA and Municipal approvals. Trial runs of the Bengaluru Metro have started on the Whitefield stretch, and the line is anticipated to open to the public early next year. Whitefield’s commercial office space should see increased demand as connectivity gets better.<\/p>\n\n\n

Due to problems in the supply chain, the conversion of a mall in Bengaluru into office space is currently delayed until end of FY23. The Orb at Sahar is now 94% leased out in terms of office space, and a tenant has signed a LOI for 1.5 lakh square feet.<\/p>\n\n\n\n

The additional 88 rooms in Pune, which are part of ongoing projects in the hospitality sector, are anticipated to be finished this quarter. The licence agreement for the new hotel in Delhi has been signed with the Delhi International Airport Limited. The initial design will be worked on as planned by Chalet Hotels. By FY26, this five-star hotel is expected to be completed. The Westin 2 Hyderabad Mindspace, which has 168 rooms, is the company’s most recent project. It should to be finished in the fourth quarter of this fiscal year.<\/p>\n\n\n\n

<\/div>\n\n\n\n

Chalet Hotels\u2019 Positive Credit Outlook & Increased Net Debt<\/strong><\/h3>\n\n\n

The long-term credit rating outlook for Chalet Hotels was changed during the quarter by credit rating agencies India Rating and ICRA from \u2018negative\u2019 to \u2018positive\u2019 and \u2018stable\u2019. This shows confidence in the industry and the company’s strong recovery.<\/p>\n\n\n

From March 22 to September 22, the company’s net debt increased dramatically, from \u20b90.6 billion to \u20b923 billion. While the company invested \u20b92.3 billion in CAPEX in the first half of FY23, most of the money came from internal accruals. As of September 22, the interest rate increased by 14 basis points to 8.18%.<\/p>\n","protected":false},"excerpt":{"rendered":"

Chalet Hotels Limited (NSE: CHALET) owns, develops, manages, and operates high-end hotels in major Indian cities such as Mumbai, Hyderabad, Bengaluru, and Pune. The company is committed to maximizing returns on every square foot that is owned and operated while promoting business efficiencies from the pre-development stage through the entire asset lifecycle. The company’s portfolio […]<\/p>\n","protected":false},"author":1917,"featured_media":138501,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1941,392,5],"tags":[10436,8179,10435],"class_list":["post-138498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock-analysis","category-earnings","category-latest","tag-hotel-industry","tag-hotels-restaurants","tag-jw-marriot"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/12\/pexels-pixabay-271639-1.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":165332,"url":"https:\/\/alphastreet.com\/india\/chalet-hotels-ltd-q2fy25-20-rise-in-revenue\/","url_meta":{"origin":138498,"position":0},"title":"Chalet Hotels Ltd Q2FY25; 20% rise in Revenue","author":"Divyansh_Kasana","date":"October 31, 2024","format":false,"excerpt":"Chalet Hotels is engaged in the business of hospitality (hotels), commercial and retail operations and real estate development.(Source : 202003-01 Annual Report Page No:113) Financial Results: Chalet Hotels Ltd reported Revenues for Q2FY25 of \u20b9377.00 Crores up from \u20b9315.00 Crore year on year, a rise of 19.68%. Total Expenses for\u2026","rel":"","context":"In "LATEST"","block_context":{"text":"LATEST","link":"https:\/\/alphastreet.com\/india\/category\/latest\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/10\/DY.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/10\/DY.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/10\/DY.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/10\/DY.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/10\/DY.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/10\/DY.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":167427,"url":"https:\/\/alphastreet.com\/india\/chalet-hotels-ltd-q3fy25-37-rise-in-profits\/","url_meta":{"origin":138498,"position":1},"title":"Chalet Hotels Ltd Q3FY25; 37% rise in Profits","author":"Divyansh_Kasana","date":"March 18, 2025","format":false,"excerpt":"Chalet Hotels is engaged in the business of hospitality (hotels), commercial and retail operations and real estate development.(Source : 202003-01 Annual Report Page No:113) Financial Results: Chalet Hotels Ltd reported Revenues for Q3FY25 of \u20b9458.00 Crores up from \u20b9374.00 Crore year on year, a rise of 22.46%. Total Expenses for\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/03\/U-9.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/03\/U-9.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/03\/U-9.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/03\/U-9.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/03\/U-9.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/03\/U-9.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":145668,"url":"https:\/\/alphastreet.com\/india\/earnings-chalet-hotels-limited-nse-chalet-q4fy23-results-out-total-income-rises-125-yoy\/","url_meta":{"origin":138498,"position":2},"title":"Earnings | Chalet Hotels Limited (NSE: CHALET): Q4FY23 Results Out; Total Income rises 125% YoY.","author":"Divyansh_Kasana","date":"May 10, 2023","format":false,"excerpt":"Chalet Hotels Limited is a leading hospitality company based in India, with a portfolio of premium hotels and resorts located in key business and leisure destinations. Established in 2016, the company has since grown to become a key player in the Indian hospitality industry, offering a range of luxury accommodations\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-36.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-36.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-36.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-36.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-36.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-36.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":143564,"url":"https:\/\/alphastreet.com\/india\/chalet-hotels-ltd-expands-its-portfolio-with-new-luxury-properties-in-top-tourist-destinations\/","url_meta":{"origin":138498,"position":3},"title":"Chalet Hotels Ltd. expands its portfolio with new luxury properties in top tourist destinations","author":"Divyansh_Kasana","date":"April 4, 2023","format":false,"excerpt":"\u201cI am delighted to report that for the second consecutive quarter, we have had record-breaking numbers with the highest-ever revenues and EBITDA for the company. This has been delivered on the back of strong domestic business travel, rebound of the MICE segment and with very strong Average Room Rates. Led\u2026","rel":"","context":"In "Research Summary"","block_context":{"text":"Research Summary","link":"https:\/\/alphastreet.com\/india\/category\/research-summary\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/04\/iStock-524529958.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/04\/iStock-524529958.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/04\/iStock-524529958.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":136743,"url":"https:\/\/alphastreet.com\/india\/chalet-hotels-limited-q2fy23-revenue-almost-doubles-to-%e2%82%b9247-8-crore\/","url_meta":{"origin":138498,"position":4},"title":"Chalet Hotels Limited Q2FY23; Revenue Almost Doubles To \u20b9247.8 Crore","author":"Hardik Bhandare","date":"November 14, 2022","format":false,"excerpt":"Chalet Hotels Limited (NSE: CHALET) posted a Revenue from Operations for Q2 FY23 of \u20b9247.8 Crore up from \u20b9128.1 Crore year on year, a growth of 93%. The Revenue was driven by Hospitality Hotels segment which surged by 143% to \u20b9223.3 Crore.\u00a0Consolidated Net Profit of \u20b915.7 Crore, up 214% from\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/80aaf7a3-de17-4b57-8df2-8af040fc1417-scaled.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/80aaf7a3-de17-4b57-8df2-8af040fc1417-scaled.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/80aaf7a3-de17-4b57-8df2-8af040fc1417-scaled.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/80aaf7a3-de17-4b57-8df2-8af040fc1417-scaled.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/80aaf7a3-de17-4b57-8df2-8af040fc1417-scaled.jpg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/80aaf7a3-de17-4b57-8df2-8af040fc1417-scaled.jpg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":145525,"url":"https:\/\/alphastreet.com\/india\/alphagraph-chalet-hotels-ltdnse-chaletq4-fy23-results-outtotal-income-rises-125-yoy\/","url_meta":{"origin":138498,"position":5},"title":"Alphagraph | Chalet Hotels Ltd(NSE: CHALET)|Q4 FY23 Results Out|Total Income rises 125% YoY.","author":"Divyansh_Kasana","date":"May 9, 2023","format":false,"excerpt":"Chalet Hotels is a leading player in the hospitality and real estate development industry, promoted by the K Raheja Corp Group, which has a significant presence in real estate development in India. The company owns, manages, and develops high-end hotels in the country's gateway cities. Its hotel platform includes six\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/bd7617bd-a81b-44b8-865d-a8ac8420a35b.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/bd7617bd-a81b-44b8-865d-a8ac8420a35b.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/bd7617bd-a81b-44b8-865d-a8ac8420a35b.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/bd7617bd-a81b-44b8-865d-a8ac8420a35b.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/bd7617bd-a81b-44b8-865d-a8ac8420a35b.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/bd7617bd-a81b-44b8-865d-a8ac8420a35b.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/138498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1917"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=138498"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/138498\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/138501"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=138498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=138498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=138498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}