Leela Palaces Hotels & Resorts Limited · NSE:THELEELA
Leela Palaces Hotels & Resorts — Q3 FY26 Earnings Presentation
41 slides from Leela Palaces Hotels & Resorts's earnings presentation, Jan 16, 2026
Slide 1: Stock exchange filing cover letter: Analysts / Institutional Investors Presentation
LEELA PALACES HOTELS & RESORTS LIMITED (formerly known as Schloss Bangalore Limited) (formerly known as Schloss Bangalore Private Limited) Registered Office: The Leela Palace, Diplomatic Enclave, Africa Avenue, Netaji Nagar New Delhi South Delhi 110023 Tel No. +91 (11) 39331234 Email Id: cs@theleela
Slide 2: Q3 FY26 Earnings Release
Leela Palaces Hotels & Resorts Limited (Formerly known as Schloss Bangalore Limited) Q3 FY26 EARNINGS RELEASE 1 6 th J a n u a r y 2 0 2 6 The Leela Palace Bengaluru
Slide 3: Q3FY26 Key Performance Highlights
Q3FY26 | Key Performance Highlights Best in Class Profitability +20% +17% RevPAR Growth ADR Growth 52% (1) Operating EBITDA Margin +23% 15 pts (▲61 bps YoY) Operating EBITDA Market share increase vs India luxury segment (1) Source: CoStar; Metrics for both The Leela and the India Luxury segment are
Slide 4: Q3FY26 Key Growth Highlights
Q3FY26 | Key Growth Highlights The Leela Jaisalmer Management Fees 9 Hotels in Pipeline (Operational by Mid FY27) +80 Keys +₹750 M 1,000+ Keys (+876 Keys YTD) 2x FY25 Fees Income Management contract Contribution from Firmly on track ; signed strengthening our Dubai and Jaisalmer on Construction init
Slide 5: Leela Footprint: 5,000+ Luxury Keys Across 23 Properties
Leela Footprint: 5,000+ Luxury Keys Across 23 Properties Srinagar 14 Operational Properties 23 Properties +9 Properties in Pipeline Delhi NCR Jaisalmer Agra Sikkim Jaipur Ayodhya Udaipur Ranthambore Gandhinagar Bandhavgarh 4,090 Operational Keys Dubai 5,136 Keys +1,046 Pipeline Keys Mumbai Hyderabad
Slide 6: Leela Palaces Hotels & Resorts Limited | Value Proposition
Leela Palaces Hotels & Resorts Limited | Value Proposition The Brand – Pure play luxury The Sponsor & Promoter Capital and Network provides Demand-Supply CAGR Gap Strong RevPAR Growth (4.9% in FY25-28E) (~3x vs luxury)(1) Unique Growth Channels (BKC, Mumbai & Palm Jumeirah, Dubai) Strong Growth Pipe
Slide 7: Financial Performance
1 | Financial Performance 2 | Operational Highlights 3 | Growth Updates 4 | Appendix 6 The Leela Palace Udaipur
Slide 8: 20%+ Growth in Revenue and EBITDA in Q3FY26
20%+ Growth in Revenue and EBITDA in Q3FY26 Op. Revenue(1) Op. EBITDA(1) Op. EBITDA%(1) PAT ₹4,574 Mn a ₹2,378 Mn a 52% a ₹1,479 Mn a ▲21% ▲23% ▲ 61 bps ▲₹915 Mn (1) Represents Adjusted Operating Revenue & Adjusted Operating EBITDA which excludes treasury income and government grants. Please refer t
Slide 9: 22% EBITDA Growth in 9MFY26
22% EBITDA Growth in 9MFY26 Op. Revenue(1) Op. EBITDA(1) Op. EBITDA%(1) PAT ₹10,429 Mn a ₹4,772 Mn a 46% a ₹2,313 Mn a ▲16% ▲22% ▲231 bps ▲₹3,011 Mn (1) Represents Adjusted Operating Revenue & Adjusted Operating EBITDA which excludes treasury income and government grants. Please refer to page 38 for
Slide 10: Gained Market Share: Greater Than Luxury Industry Growth
Gained Market Share: Greater Than Luxury Industry Growth 15 pts market share gain vs India luxury → driving a ₹4.7k RevPAR premium ▲19% Y o Y R E V P A R G R O W T H (1) 14,758 YTD FY25 YTD FY26 12,381 ▲7% 10,037 9,369 India Luxury Segment RGI 147 vs 132 LY Source: CoStar; Details for owned domestic
Slide 11: Pure Play Luxury Focus Driving RevPAR Growth of 20%
Pure Play Luxury Focus Driving RevPAR Growth of 20% R e vP AR ( ₹ ) AD R ( ₹ ) +17% 30,337 +20% 21,551 25,827 17,912 Q3FY25 Q3FY26 O C C U P AN C Y ( % ) +2pp 71% 69% Q3FY25 Q3FY26 Q3FY25 Q3FY26 Note: Metrics presented above pertains to the owned domestic portfolio 10
Slide 12: QoQ Consistently Outperforming India Luxury Growth by +2x
QoQ Consistently Outperforming India Luxury Growth by +2x YoY REVPAR GROWTH 162 150 132 24% 20% 13% 10% 11% 1% Q1 Q2 Q3 FY26 The Leela India Luxury RevPAR index Source: CoStar; Details for owned domestic hotels Metrics above, for both The Leela and the India Luxury segment for the period Q3 FY26 are
Slide 13: Q3FY26 | Outsized Growth Across City and Resort Hotels
Q3FY26 | Outsized Growth Across City and Resort Hotels C I T Y H O T E L S R E V P AR ( ₹ ) R E S O R T H O T E L S R E V P AR ( ₹ ) 18,553 31,499 ▲17% ▲28% 15,905 24,560 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Occupancy 73% 74% 112 bps 58% 62% 352 bps Note: Metrics presented above pertain to the owned domestic
Slide 14: 21% Revenue Growth | Firing On All Cylinders
21% Revenue Growth | Firing On All Cylinders (₹ in Mn) Particulars Q3 FY26 Q3 FY25 Var % Q3 FY26 Highlights Room Revenue Room Revenue 2,415 2,009 20% o Retail segment grew by +18% YoY F&B Revenue 1,662 1,288 29% o Groups segment grew by +45% YoY HMA Fees 219 204 7% o Brand.com surged by 153% F&B Rev
Slide 15: Five Consecutive Quarters of Positive PAT
Five Consecutive Quarters of Positive PAT Cumulative PAT at ₹2,313 Mn for YTD FY26 P R O F I T AF T E R T AX (₹ in Mn) 1,479 1,174 747 564 87 (512) (750) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4E FY25 FY26 Note: Quarterly figures for Q1 to Q4 FY25 are basis unaudited financials. Chart not to scale 14
Slide 16: 22% Growth in Operating EBITDA in 9MFY26
22% Growth in Operating EBITDA in 9MFY26 (₹ in Mn) Particulars Q3 FY26 Q3 FY25 Var.% 9M FY26 9M FY25 Var.% Revenue from operations 4,574 3,705 23% 10,429 8,759 19% Other Income 134 330 (59%) 628 679 (8%) Total Revenue 4,709 4,035 17% 11,056 9,437 17% EBITDA 2,513 2,200 14% 5,400 4,357 24% Adjusted O
Slide 17: Setting Our Own Benchmarks and Beating Them
Setting Our Own Benchmarks and Beating Them EBITDA (₹ Millions) High Teens growth in FY26 +24% 7,004 5,400 +14% 4,357 +63% +17% 2,200 2,513 1,280 1,371 1,607 786 Q1 Q2 Q3 9M FY YoY EBITDA Growth FY25 FY26 Note: Chart not to scale 16
Slide 18: Operational Highlights
1 | Financial Performance 2 | Operational Highlights 3 | Growth Updates 4 | Appendix 17 The Leela Palace Udaipur
Slide 19: Consistently Delivering Higher NPS Than Luxury Industry
Consistently Delivering Higher NPS Than Luxury Industry 89 NET PROMOTER SCORE – PORTFOLIO HOTELS 87 86 85 85 84 9 83 points 76 81 74 79 77 75 FY24 FY25 9M FY26 Industry Average for Luxury segment (1) Source: Revinate Hospitality Benchmark Report 2025 (1) Industry average represents data for CY23 and
Slide 20: Best in India Awards
Best in India #1 Best Resort in India The Leela Palace Udaipur The Leela Kovalam Robb Report Hongkong Condé Nast Traveler, UK Readers’ Best of the Best 2026 Travel Choice Awards 2025
Slide 21: Condé Nast Traveler Readers' Choice Awards 2025
The Leela Palace The Leela Palace The Leela Palace The Leela Palace Udaipur New Delhi Chennai Jaipur Condé Nast Traveler, US Readers’ Choice Awards 2025 Condé Nast Traveler, UK Readers’ Choice Awards 2025 20
Slide 22: Michelin Recognition
Michelin Recognition The Leela Palace The Leela Palace The Leela Palace New Delhi Jaipur Chennai (2 Michelin Keys) (2 Michelin Keys) (1 Michelin Key)
Slide 23: The Leela Palace Jaipur: Enhanced for Luxury
The Leela Palace Jaipur : Enhanced for Luxury Multi-generational travel focus drives 27% RevPAR growth YoY in Q3FY26 at The Leela Palace Jaipur Amber Terrace Jamavar (Roof Top Bar) (Specialty Restaurant) Q3 FY26 Q3 FY26 The Leela Palace Jaipur The Aravalli Dining Room Aujasya Spa Q3 FY26 Q3 FY26 Vil
Slide 24: Value Driver | Peacock Lounge at Jaipur
Value Driver | Peacock Lounge at The Leela Palace Jaipur A royal club lounge for villa guests by day and transforms into a mediterranean restaurant by night Launched in Dec’25 Actual Image Actual Image Actual Image 23
Slide 25: Value Driver | The Aravalli Dining Room at Jaipur
Value Driver | The Aravalli Dining Room at The Leela Palace Jaipur A global cuisine atelier set against the tranquil backdrop of the ancient Aravalli hills Launched in Dec’25 Actual Image Actual Image 24
Slide 26: Value Driver | Amber Terrace at Jaipur
Value Driver | Amber Terrace at The Leela Palace Jaipur Monetising idle space - all new rooftop bar with spectacular views of the Aravalli mountain ranges BEFORE AFTER Actual Image Actual Image Launched in Dec’25 | ~25% YoC 25
Slide 27: Growth Updates
1 | Financial Performance 2 | Operational Highlights 3 | Growth Updates 4 | Appendix 26 The Leela Palace Udaipur
Slide 28: Growth Levers Firmly in Place for Outsized Growth
Growth Levers Firmly in Place for Outsized Growth FY28 • Stabilisation of FY’27 growth levers FY27 • HMA fees from Dubai • 33 Keys at Udaipur (Capacity expansion) • Stabilisation of FY’26 growth levers • The Leela Palace Agra • The Leela Jaisalmer • The Leela Ranthambore FY26 • The Leela Luxury Resi
Slide 29: Strategic Growth Every Quarter Since Listing
Strategic Growth Every Quarter Since Listing Committed expansion to 5,136 keys Strong pipeline FY25 Q1FY26 Q2FY26 Q3FY26 (Acquisition & HMA) under evaluation On track for long-term 3,553 financial goal Operation (₹20,000 Mn al keys EBITDA by FY30) 250 Keys 546 Keys 80 Keys BKC Acquisition Dubai Acqu
Slide 30: The Leela Dubai | Highly Accretive Deal
The Leela Dubai | Highly Accretive Deal Transaction successfully closed – The Leela now holds 25% equity stake. Hotel to be rebranded under management contract with The Leela by 2027 with potential fee of ₹ 670M $70M 2-3 yrs Asset Equity Full payback(4) location Investment (2)(3) c.₹ 670M c.₹ 1,150M
Slide 31: The Leela Palace BKC | Tapping Luxury Demand in Mumbai CBD
The Leela Palace BKC|Tapping Luxury Demand in Mumbai CBD Investment metrics Return metrics ~₹8,000M c.₹ 1,550M Capex (1) Annual Earnings(2) ~50% ~50% c. 1,200M c. 350M Non-recourse Equity EBITDA HMA Fee project debt Initial Render Optimizing capital allocation for near term accretive acquisition (1)
Slide 32: Management Contract | The Leela Jaisalmer
Management Contract | The Leela Jaisalmer Binding agreement signed to manage The Leela Jaisalmer: An 80-key luxury hotel nearing completion, further strengthening our footprint in Rajasthan (Operational by Mid-FY27) The Leela’s presence in the state of Rajasthan The Leela Palace Jaipur The Leela Jai
Slide 33: On Track for 1,000+ Keys Addition
On Track for 1,000+ Keys Addition Hotel Keys Type Timelines Progress Srinagar 170 Owned FY28 Agra 99 Owned FY28 Ranthambore 76 Owned FY28 Bandhavgarh 30 Owned FY28 Ayodhya 100 Owned FY28 Lease premium being paid in Mumbai BKC 250 Owned FY30 installments, design finalisation and site work preparation
Slide 34: Atithi Devo Bhava (Guest is God)
“Atithi Devo Bhava (Guest is God)” The Leela Palace Udaipur
Slide 35: Appendix
1 | Financial Performance 2 | Operational Highlights 3 | Growth Updates 4 | Appendix 34 The Leela Palace Udaipur
Slide 36: ESG – Strategic Initiatives
ESG – Strategic Initiatives Creating shared value with purpose partnerships Leela Ke Phool Leela’s Ceremonial Rituals 2.2 MT of floral waste 50 upcycled Local artists supported daily JMGU – Women Jalinga Tea Empowerment 48% ~125K Tea sourced from a embroidered jute carbon-neutral, bags procured loca
Slide 37: ESG – Growing Responsibly
ESG – Growing Responsibly Continued success towards our net zero goal Environmental Inclusive Stewardship Culture 65% PO W ERED BY (1) 25% (2) PERMANE NT RENEW ABLES Towards W O MEN T ALENT Net Zero By 2050 100% VENDO RS CO MPLIANT W IT H 7,000+ CO MMUNIT Y MEMBERS CO C AND ABAC PO LICIES ENG AG ED
Slide 38: Attractive Fundamentals Supporting Same-Store Growth
Attractive Fundamentals Supporting Same-Store Growth Located in markets with attractive demand and supply fundamentals New Delhi Bengaluru Chennai Udaipur Jaipur Projected Luxury Demand-Supply Gap(1) 19.5% 1020 bps FY25 – FY28E CAGR ~1470 bps ~680 bps 14.7% ~420 bps ~460 bps 12.3% 11.5% 10.3% 9.3% 7
Slide 39: Reconciliation to Operational EBITDA
Reconciliation to Operational EBITDA (₹ in Mn) YoY YoY Particulars Q3 FY26 Q3 FY25 9M FY26 9M FY25 Growth Growth Reported Total Revenue (A) 4,709 4,035 17% 11,056 9,437 17% Less: Other Income (134) (330) (628) (679) Reported Revenue from Operations (B) 4,574 3,705 10,429 8,759 Adj: Rental and other
Slide 40: Our Journey So Far | Key Quarterly KPIs
Our Journey So Far | Key Quarterly KPIs Operating Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Units Metrics FY24 FY24 FY24 FY24 FY25 FY25 FY25 FY25 FY26 FY26 FY26 Occupancy % 58.7% 62.0% 69.1% 78.0% 59.7% 64.9% 69.4% 77.6% 63.6% 68.7% 71.0% ADR ₹ 16,148 19,027 23,224 24,127 16,698 18,042 25,827 27,918 18,817 1
Slide 41: Disclaimer
Disclaimer This presentation (“Presentation”) prepared by Leela Palaces Hotels & Resorts Limited (Previously known as ‘Schloss Bangalore Limited’) does not constitute or form part of and should not be construed as a prospectus, offering circular or offering memorandum or an offer to sell or issue or
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