ICICI Securities sets ₹1,095 target, forecasts H2FY27 pickup
ICICI Securities thinks Chalet Hotels is a smart buy right now, setting a price target of ₹1,095.
They're expecting business to pick up in late FY2027 thanks to a pick-up in weddings/MICE in H2FY27.
Plus, new projects like the Delhi Airport hotel and Cignus Powai office tower could boost things further by early FY2028.
Chalet Hotels revenue 8% EBITDA 11%
Chalet Hotels has already grown hospitality revenue by 8% and EBITDA by 11% over last year, even with some construction delays in Mumbai.
The company's operational hotels' portfolio is poised to grow by 1,655 keys to over 5,400 keys by Mar'30E.
ICICI Securities predicts strong growth ahead, but does mention risks like slower hotel demand or office leasing.
Still, they're pretty upbeat about Chalet's future thanks to its solid performance and expansion plans.