HDFC Mutual Fund Raises Stake in Chalet Hotels (K Raheja Corp Group) to 9.11% via Open Market Purchase

HDFC Mutual Fund Deepens Investment in Chalet Hotels

HDFC Mutual Fund increased its shareholding in Chalet Hotels Limited by 2.07% to 9.11% as of July 20, 2026, via an open market acquisition of 45,36,556 shares. The disclosure was made in accordance with Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

HDFC Mutual Fund increased its stake by 2.07% to 9.11% on July 20, 2026, demonstrating strong institutional backstop. This marks a continuation of the fund's conviction in the hospitality sector; prior to this acquisition, the aggregate holding of the schemes of HDFC Mutual Fund stood at 7.04%, representing 1,54,07,303 shares.

Chalet Hotels' Growth Trajectory

Chalet Hotels Limited (CHL), part of K Raheja Corp, is an owner, developer, asset manager and operator of high-end hotels and resorts in India, comprising of 11 operating hotels & resorts with 3,389 keys across globally recognized hospitality brands including JW Marriott, The Westin and Novotel.

The company is in expansion mode. Chalet is aggressively utilizing its ₹2,500 crore capex pipeline to scale room count to 5,000 keys over the medium term. Chalet is augmenting its commercial real estate portfolio from the current size 2.4 million square feet to 3.3 million square feet.

K Raheja Corp's Hospitality Portfolio

Chalet Hotels sits at the center of K Raheja Corp's hospitality operations. The K Raheja Corp owns/co-owns 12 hospitality offerings in India with a comprehensive portfolio of 3500+ keys, with Chalet Hotels Limited overseeing an asset portfolio comprising 10 hotels, totaling 3,052 keys.

The company is part of the larger K. Raheja Corp Group, which has been in operation since 1956, and Chalet was originally incorporated in 1986. In November 2018, Chalet Hotels Limited launched its initial public offering (IPO) and successfully raised approximately ₹1,500 crores, with the IPO subscribed over 157 times.

Leadership Transition

The stake increase coincides with management changes at Chalet. Manoj Agarwal was designated to lead business development and acquisitions as Chief Growth and Product Officer from July 20, 2026. Gautam Mehra joined the board as an Additional Independent Director on July 17, 2026, for a five-year term.