Chalet Hotels has scheduled its Annual General Meeting (AGM) for Monday, September 21, 2026. The company also fixed Friday, September 11, 2026, as the record date for determining shareholders eligible for the final dividend for FY26.

The AGM will be conducted through Video Conferencing starting at 4.00 pm. Shareholders holding equity shares on the record date will be eligible to receive the final dividend, subject to shareholder approval during the meeting.

Dividend Payment Timeline

The company stated that the final dividend will be paid within 30 days of the AGM, following approval by the shareholders. This process adheres to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Christabelle Baptista, Company Secretary and Compliance Officer, issued the intimation on August 24, 2026.

Chalet Hotels Limited has signed binding Memorandums of Understanding (MoUs) with special purpose vehicles of Mindspace Business Parks REIT to lease premises for two new upper-upscale hotels in Pune and Hyderabad. Disclosed on August 5, 2026, the deals add 381 rooms to the company’s portfolio under its homegrown ATHIVA® brand, expanding its total inventory including pipeline to nearly 5,500 keys. The move consolidates Chalet’s presence in key commercial hubs while leveraging an asset-light model that defers capital expenditure until the later stages of development.

The transaction was disclosed pursuant to Regulations 30 and 51 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Christabelle Baptista, Company Secretary and Compliance Officer, signed the disclosure submitted to the National Stock Exchange of India Limited and BSE Limited. Shwetank Singh, Managing Director and CEO of Chalet Hotels, stated that the announcement strengthens the growth pipeline and marks a significant milestone for the ATHIVA® brand as it moves towards a hybrid model with more self-operated properties.

The Pune property involves a grey shell lease, providing the structure without façade and high-side mechanical, electrical, and plumbing (MEP) systems. In contrast, the Hyderabad property is a warm shell arrangement involving the conversion of an existing office building, which includes the structure, façade, and high-side MEP. Both locations are positioned as upper-upscale properties under the ATHIVA® brand, aiming to capture demand from global capability centers (GCCs), MICE, and corporate stays.

The investment required for the fit-out is ₹10.8 Million per key for the Pune location and ₹13.5 Million per key for Hyderabad. The company intends to finance these capital expenditures through a combination of internal accruals and debt. The Hyderabad project is scheduled for completion earlier, with capacity addition targeted for FY2029, while the Pune facility is slated for FY2031. Ramesh Nair, Managing Director and CEO of Mindspace REIT, noted that hospitality assets add a stable income stream and strengthen tenant experience in their campuses.

Strategic Expansion via REIT Partnerships

The move signals a continued reliance on asset-light growth models for Chalet Hotels Limited. By leasing from Mindspace Business Parks REIT, the company avoids the upfront capital expenditure associated with acquiring land and constructing buildings from scratch. Instead, capital is directed toward fit-outs and operational readiness. The higher per-key fit-out cost in Hyderabad reflects the additional work required for converting an existing office building into a warm shell hotel property, compared to the grey shell construction in Pune. This phased approach allows for staggered cash outflows over the next four fiscal years.

What the Numbers Show

The expansion underscores Chalet’s strategy of embedding hospitality assets within large-scale business parks to unlock captive demand. With the addition of these two properties, Chalet’s total inventory, including its pipeline, reaches approximately 5,500 keys. The company currently operates 11 hotels with 3,389 keys across brands like JW Marriott, The Westin, Marriott, and Novotel. The new ATHIVA® properties will further diversify its portfolio, adding ~7,000 sq. ft. of banquet space in Pune and ~4,300 sq. ft. in Hyderabad, alongside three F&B outlets each. This integrated approach aims to mitigate site-acquisition risks and expedite time-to-market.