Chalet Hotels Limited announced its Q3 financial results, demonstrating robust performance across key operational and financial metrics. The hospitality company reported consolidated net profit of ₹1.2 billion for the quarter, marking a substantial 24% year-on-year growth from ₹965 million in the corresponding quarter of the previous year.

Strong Financial Performance Across All Metrics

The company's consolidated financial results showcased impressive growth momentum with revenue reaching ₹5.8 billion, representing a 26% increase from ₹4.6 billion in the previous year. EBITDA performance was equally strong at ₹2.65 billion, up 29% year-on-year from ₹2.05 billion, while EBITDA margin expanded to 45.57% from 44.71%, demonstrating improved operational efficiency.

Hospitality Segment Drives Growth

The hospitality business demonstrated strong operational performance with RevPAR increasing 12% year-on-year and Average Room Rate growing 16% to ₹14,970. Despite occupancy rates of 68% being slightly lower than the previous year's 70%, the segment generated revenue of ₹4.91 billion, up 23% from ₹4.01 billion in the previous year.

Rental & Annuity Business Shows Strong Growth

The rental and annuity segment delivered exceptional performance with revenue of ₹744 million, up 29% from ₹577 million in the previous year. EBITDA for this segment reached ₹621 million, representing a 37% increase, while maintaining a healthy margin of 83.5%.

Key Operational Developments

Chalet Hotels added significant inventory during the period, including 129 keys in Bangalore and 147 keys at Khandala, which became fully operational from mid-November. The company's Athiva Resort & Spa in Khandala completed its first full quarter post-launch and received encouraging guest feedback. Additionally, the Courtyard by Marriott Aravali Resort was rebranded to Aravali Marriott Resort & Spa in Delhi-NCR.

Earnings Call Audio Recording Available

Pursuant to Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, Chalet Hotels has made available the audio recording of its earnings call held on February 3, 2026. The call discussed the unaudited financial results for the quarter and nine months ended December 31, 2025.

Future Growth Pipeline

The company continues to expand its development pipeline with The Taj at Delhi Airport construction progressing steadily. Cignus II at Powai, the second commercial tower at The Westin Powai Lake, is advancing on schedule. The company also achieved approximately 150,000 square feet of additional leasing at Powai, Mumbai, further strengthening its commercial real estate portfolio.

Chalet Hotels Limited successfully concluded its postal ballot process on January 31, 2026, with shareholders demonstrating strong support for key leadership appointments and governance measures. The company's board sought approval for three special resolutions through remote e-voting, addressing critical organizational changes and director compensation structures.

Shareholder Participation and Voting Overview

The postal ballot process witnessed significant shareholder engagement, with 68,638 total shareholders on the record date of December 26, 2025. The company's total outstanding shares stood at 21,87,53,432, reflecting an increase from 21,87,39,432 following the allotment of 14,000 equity shares under the CHL Employee Stock Option Plan 2022 on December 10, 2025.

Resolution 1: Managing Director and CEO Appointment

Shareholders overwhelmingly approved the appointment of Mr. Shwetank Singh (DIN: 02976637) as Managing Director and CEO for a three-year term from February 1, 2026 to January 31, 2029, including his remuneration package. The resolution received exceptional support with 99.55% of polled votes in favor.

Resolution 2: Non-Executive Director Appointment

The appointment of Dr. Sanjay Sethi (DIN: 00641243) as Non-Independent Non-Executive Director received approval with 98.27% of votes in favor. This resolution garnered strong support across all shareholder categories, though with slightly higher opposition from institutional investors compared to the CEO appointment.

Resolution 3: Director Commission Approval

Shareholders approved remuneration in the form of commission to Non-Executive Directors with an overwhelming 99.99% approval rate. This resolution received the highest level of support among all three proposals, with minimal opposition across shareholder categories.

Voting Process and Compliance

The postal ballot process was conducted in strict compliance with Sections 108 and 110 of the Companies Act, 2013, and relevant SEBI regulations. Mr. Saurabh Agarwal (Membership No: F9290), Designated Partner of MMJB & Associates LLP, served as the appointed scrutinizer. The remote e-voting period commenced on January 1, 2026, at 09:00 a.m. and concluded on January 30, 2026, at 05:00 p.m., with KFin Technologies Limited providing the e-voting platform.

The company provided a separate ballot facility for 14,000 equity shares allotted under the employee stock option plan, ensuring comprehensive shareholder participation. All three resolutions were successfully passed with the requisite majority, demonstrating strong shareholder confidence in the company's strategic direction and leadership appointments.