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IDBI Capital Report
We like Chalet Hotels Ltd. in domestic hospitality space considering-
strong positioning in high-end branded hotels in key business cities,
well positioned to benefit from post pandemic industry revival,
active asset management of the properties,
new hotels and commercial properties to strengthen Chalet Hotels' earnings growth,
hotel-led complimentary mixed-use of real estate to drive operating margin expansion,
value unlocking opportunities in Koramangla project and
inorganic growth opportunities.
We expect on a low base of FY21, net sales to grow at a compound annual growth rate of 68% over FY21-24E supported by net sales CAGR of 77% and 42% in hotels and retail-commercial segment respectively.
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