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India's Chalet Hotels earnings to be driven by expansion spree, ICICI Securities says

By Reuters News04:02 (UTC), 23 September 2026 Updated

** ICICI Securities maintains "buy" on India's Chalet Hotels CHAL.NS with PT of 1,095 rupees, citing expansion of its hotel and rental asset portfolio

** Brokerage expects co's operational hotel portfolio to add 1,655 rooms to cross 5,000 by March 2030, from about 3,400 as of June 2026

** Forecasts hotel revenue and EBITDA to grow at 15% and 16% CAGR, respectively, over FY26-FY29

** Says growth in rental assets could help drive company-wide EBITDA CAGR of 20%, excluding residential, over FY26-FY29

** Adds co can expand existing hotels and rental portfolio using existing land parcels, limiting need for additional land spending

** Shares of CHAL up 1.35% at 884.15 rupees

** CHAL rated "buy" on average by 22 analysts, median PT at 985.50 rupees--LSEG-compiled data

** YTD stock up 1.87%

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