8 months ago
Chalet Hotels: Hold for Now
Chalet Hotels is a company that owns and develops hotels and office spaces in big cities in India.
It has a lot of hotels and offices, and it's building even more.
The company makes money from people staying in its hotels and from renting out its office spaces.
It also sells homes, but that's a smaller part of its business.
The company's stock has gone up a lot in the past few years, but it has recently gone down a bit.
The company is doing well, but it has some risks, like making sure its new buildings are finished on time and that it can rent out its office spaces.
The people in charge of the company are also changing soon, which could be a big deal.
Overall, the company is doing okay, but investors should wait to see how things go before buying more stock.
Chalet Hotels operates in the hospitality and commercial real estate sectors, with a focus on high-end, metro-centric properties.
The company's stock has corrected from its record high of ₹1,080 in August 2025 and is currently trading at ₹867.
Chalet Hotels has a diversified earnings base, with hospitality, commercial leasing, and residential segments contributing to its revenue.
The company's core performance has remained firm through FY26 so far, with consolidated core revenue growing 24% year on year and EBITDA rising 31%.
Chalet Hotels has outlined a ₹2,500-crore capex plan for the next two years, with key asset milestones including the Taj Delhi airport hotel and Cignus Powai Tower II office space.
- Who
- Chalet Hotels, a subsidiary of K Raheja Corp, is an owner and developer of hotel and commercial properties in India.
- What
- Chalet Hotels is a company that operates in the hospitality and commercial real estate sectors, with a focus on high-end, metro-centric properties.
- Where
- Chalet Hotels operates primarily in major metropolitan areas in India, including MMR, Bengaluru, Pune, and Hyderabad.
- When
- The company was listed in early 2019 and is currently trading at ₹867 as of December 2025.
- Why
- The company's business model is asset-heavy, with a focus on owning and developing premium hotel and commercial properties to generate steady rental income and earnings growth.
Key facts
- Current Stock Price
- ₹867
- FY26 EV/EBITDA Multiple
- 20x
- FY26 P/E Multiple
- 36x
- Operational Keys
- 3,359
- Pipeline Keys
- 1,200
- Commercial Portfolio
- 2.4 million sq ft
- Net Debt
- ₹2,200 crore
- Net Debt/Equity Ratio
- 0.7x




