CHALET HOTELS LIMITED REPORTS Q2 FY25 RESULTS
BEST EVER Q2 REVENUE
ADR INR 10,532 up 10%
TOTAL INCOME INR 3.8 bn, up 20%
TOTAL EBITDA INR 1.6 bn, up 20%
Mumbai | October 24, 2024: Chalet Hotels Limited announces its results for the second quarter of the fiscal year 2025 ending September 30, 2024.
Key Highlights for Q2FY25:
- Total Income at INR 3.8 bn, up 20% as compared to Q2 FY24
- Total EBITDA at INR 1.6 bn, up 20% as compared to Q2 FY24
- Hospitality Segment Performance:
- Revenue at INR 3.3 bn, up by 18% from Q2 FY24
- ARR at INR 10,532, up by 10% over Q2 FY24
- Occupancy was at 74%
- RevPAR improved by 10% YoY to INR 7,756
- EBITDA was at INR 1.4 bn up by 18% from Q2 FY24
Other Highlights:
- Chalet Hotels have been recognized for its work in ESG.
- Won the KPMG ESG Excellence Award 2024 in Mid-cap/Small-cap Companies.
- Chalet continues to be ‘India’s Best Workplaces for Women’ 2024 by Great Place To Work.
- Acquired 11-acres beachfront land in the pristine white sand beaches of Varca Goa with a development potential of ~170 upper upscale rooms.
Consolidated Performance for Q2FY25 INR Million
| Particulars | Q2FY25 | Q1FY25 | QoQ% | Q2FY24 | YoY% | FY 24 |
| Total Income | 3,832 | 3,691 | 4% | 3,182 | 20% | 14,370 |
| EBITDA | 1,556 | 1,483 | 5% | 1,296 | 20% | 6,044 |
| Margin % | 40.6% | 40.2% | 0.4pp | 40.7% | -0.1% | 42.1% |
| PBT | 794 | 777 | 2% | 445 | 79% | 2,694 |
| Tax | -2,179 | -171 | -80 | 88 | ||
| PAT | -1,385 | 606 | -328% | 364 | -480% | 2,782 |
The Finance (No. 2) Act, 2024 withdrew the indexation benefit on long-term capital gains, as a result the company
reversed the deferred tax assets created on certain capital assets (carried at indexed cost) having one time non cash
impact of ₹ 2,021.72 million on the profit after tax for the quarter ended 30th September 2024.
Segmental Performance for Q2FY25 INR Million
| Hospitality Performance | ||||||
| Particulars | Q2FY25 | Q1FY25 | Var(%) | Q2FY24 | Var(%) | FY 24 |
| ADR | 10,532 | 10,446 | 1% | 9,610 | 10% | 10,718 |
| Occupancy | 74% | 70% | 3% | 73% | 0% | 73% |
| RevPar | 7,756 | 7,361 | 5% | 7,034 | 10% | 7,776 |
| Total Revenue | 3,352 | 3,255 | 3% | 2,844 | 18% | 12,930 |
| EBITDA | 1,387 | 1,341 | 3% | 1,180 | 18% | 5,742 |
| EBITDA Margin % | 41% | 41% | 0% | 41% | 0% | 44% |
| Rental Annuity | ||||||
| Revenue | 419 | 355 | 18% | 300 | 39% | 1,241 |
| EBITDA | 323 | 264 | 36% | 237 | 36% | 988 |
Development Pipeline Updates:
- Hotel inventory expansion at Bengaluru Marriott Hotel Whitefield (~125-130 rooms) in Q3 FY25
- Renovation, upgradation and expansion of The Dukes Retreat (65 rooms) completion in Q4 FY25
- ‘Taj’ at the T3 Terminal Delhi International Airport (385-390 rooms), ‘Hyatt Regency’ at Airoli, Navi Mumbai (~280 rooms) and CIGNUS POWAI® Tower II in Mumbai are now scheduled for completion in FY27
- Renovation of Four Points by Sheraton Navi Mumbai has commenced. Currently 35 rooms are under renovation and not available for sale.
Speaking on the financial results, Mr. Sanjay Sethi, MD & CEO, Chalet Hotels Limited, “We are pleased to report another outstanding quarter of growth, driven by positive momentum in room rates and backed by strong EBITDA margins, an indication that our strategic initiatives and efforts to drive operational excellence are paying off. Our upcoming 11-acre beachfront development in Goa is set to transform the region over the next three years. As we enter the second half of the year, we are confident in maintaining this upward trajectory to maximise returns across our diverse portfolio.”
