Leela Palaces Hotels & Resorts Limited · NSE:THELEELA
Leela Palaces Hotels & Resorts — Q2 FY26 Earnings Presentation
51 slides from Leela Palaces Hotels & Resorts's earnings presentation, Oct 14, 2025
Slide 1: Stock exchange filing letter for analyst 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: Q2 FY26 Earnings Release
Leela Palaces Hotels & Resorts Limited (Formerly known as Schloss Bangalore Limited) Q2 FY26 EARNINGS RELEASE 1 4 th O c t o b e r 2 0 2 5 The Leela Palace Bengaluru
Slide 3: Value Proposition
Leela Palaces Hotels & Resorts Limited | Value Proposition The Sponsor & Promoter The Brand Pure Play Luxury Capital and Network provides Strong RevPAR Demand-Supply Unique Growth Channels Growth CAGR Gap (BKC, Mumbai & (>3x vs luxury) (4.9% in FY25-28E) Palm Jumeirah, Dubai) Institutional Ownership
Slide 4: Q2FY26 Key Highlights
Q2FY26 Key Highlights Robust Year-on-Year Growth: Total Revenue Up 11%, EBITDA Up 17% Four Consecutive Quarters of Positive PAT Industry Beating RevPAR Growth → +3x vis-à-vis the Luxury Hospitality Segment Strategic Expansion → Entering Dubai’s Iconic Palm Jumeirah; Mumbai BKC ON TRACK TO ACHIEVE MI
Slide 5: Financial Performance
1 | Financial Performance 2 | Operational Highlights 3 | Growth Updates 4 | Appendix 4 The Leela Palace Udaipur
Slide 6: Financial Highlights
Financial Highlights Total Revenue EBITDA EBITDA % PAT Q2FY26 ₹3,334 Mn ₹1,607 Mn 48% ₹747 Mn ▲11% ▲17% ▲246 bps ▲₹1,259 Mn H1FY26 ₹6,348 Mn ₹2,887 Mn 45% ₹834 Mn ▲18% ▲34% ▲555 bps ▲₹2,096 Mn Note: Financial Figures in the presentation pertains to consolidated financial statements unless specified
Slide 7: On Track to Achieve Mid-High Teens Growth in FY26
On Track to Achieve Mid-High Teens Growth in FY26 EBITDA - H2FY26 OUTLOOK (₹ in Mn) Healthy macro-tailwinds on luxury Mid-High demand in Leela markets Teens Growth 01 7,004 Strong Same-Store growth by 02 focusing on increasing direct business, driving optimal channel 4,844 mix and healthy RFP rates
Slide 8: Q2FY26 Financial Performance
Q2FY26 Financial Performance The Leela Palace Bengaluru
Slide 9: 13% RevPAR Growth Led by Both ADR & Occupancy
13% RevPAR Growth Led by Both ADR & Occupancy R e vP AR ( ₹ ) AD R ( ₹ ) +7% 19,290 +13% 13,262 18,042 11,712 Q2FY25 Q2FY26 O C C U P AN C Y ( % ) +4pp 69% 65% Q2FY25 Q2FY26 Q2FY25 Q2FY26 Note: Metrics presented above pertains to the Owned Portfolio 8
Slide 10: Robust Margin Expansion through Operating Leverage
Robust Margin Expansion through Operating Leverage T O T AL R E V E N U E EBITDA (₹ in Mn) (₹ in Mn) +17% +11% 1,607 3,334 1,371 2,997 Q2FY25 Q2FY26 EBITDA Margin 45.7% 48.2% 246 bps Q2FY25 Q2FY26 9
Slide 11: Four Consecutive Quarters of Positive PAT
Four Consecutive Quarters of Positive PAT P R O F I T AF T E R T AX (₹ in Mn) Operational traction increases H2 onwards, driving EBITDA expansion and contributing to PAT growth 1,174 747 564 87 Four consecutive quarters of positive PAT (512) (750) Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26E Q4
Slide 12: Double Digit Growth Across City And Resort Hotels
Double Digit 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 ( ₹ ) 13,351 12,951 ▲14% ▲11% 11,675 11,723 Q2FY25 Q2FY26 Q2FY25 Q2FY26 Note: Metrics presented above pertains to the Owned Portfolio. 11
Slide 13: H1FY26 Financial Performance
H1FY26 Financial Performance The Leela Palace Bengaluru
Slide 14: 16% RevPAR Growth Led by Both ADR & Occupancy
16% RevPAR Growth Led by Both ADR & Occupancy R e v P AR ( ₹ ) AD R ( ₹ ) +10% 19,064 +16% 12,616 17,396 H1FY25 H1FY26 10,845 O C C U P AN C Y ( % ) +4pp 66% 62% H1FY25 H1FY26 H1FY25 H1FY26 Note: Metrics presented above pertains to the Owned Portfolio 13
Slide 15: Industry Leading RevPAR Growth: 3x the Market Benchmark
Industry Leading RevPAR Growth → +3x the Market Benchmark 17% 5% India Luxury Segment H1 FY26 REVPAR GROWTH (1) (April to August 2025) Source: CoStar; Details for Owned Hotels (1) Metrics above, for both The Leela and the Luxury segment are represented for the period April to August for both 2024 &
Slide 16: Operating Revenue Growth Across Verticals
Operating Revenue Growth Across Verticals 13 pts(1) increase in market share over luxury hospitality segment driving room revenue growth in H1FY26 (₹ in Mn) Particulars H1 FY26 H1 FY25 Var % H1 FY26 Highlights Room revenue 2,782 2,410 15% ❑ Room Revenue: Consistent Double-Digit Growth F&B Revenue 2,
Slide 17: Room Revenue Contribution by Segment & Guest Nationality
Room Revenue Contribution by Segment & Guest Nationality Retail continues to be dominant segment and strength for The Leela platform R E V E N U E S E G M E N T S (1) I N T E R N AT I O N AL G U E S T M I X (1) High Yielding Segment 66.4% 54.0% Retail 56.2% Opportunity to drive TRevPAR(2) growth 22.
Slide 18: Profit & Loss Statement
Profit & Loss Statement Same-store portfolio delivering strong operating leverage in H1FY26 with a 77% flowthrough to EBITDA (₹ in Mn) Particulars Q2 FY26 Q2 FY25 Var.% H1 FY26 H1 FY25 Var.% Revenue from operations 3,106 2,772 12% 5,854 5,054 16% Other Income 228 226 1% 493 348 42% Total Revenue (A)
Slide 19: Strong Balance Sheet
Strong Balance Sheet (₹ in Mn) Sep’25 Mar’25 Sep’25 Mar’25 Particulars Non-Current Assets 71,715 66,719 Net Debt / LTM EBITDA 0.5x 3.7x Cash and Bank Balance(1)(2) 10,596 13,411 Current Assets 3,518 2,532 Total Assets 85,829 82,662 Debt / Equity 0.2x 1.1x Equity Share Capital 3,340 2,765 Reserves an
Slide 20: Strategic Refinancing Driving Stronger Financial Flexibility
Strategic Refinancing Driving Stronger Financial Flexibility ₹₹ Reduced Extended Minimal Improved Financing Cost(1) Loan Tenure Amortisation till FY30 Credit Rating (9.10% → 8.40%) (8yrs → 15yrs) (6-7% of o/s debt) AA (Stable) Improved Free Cash Flows & Healthy Liquidity Position (1) Financing cost
Slide 21: Robust Return on Capital Employed
Robust Return on Capital Employed Healthy ROCE reflecting efficient capital deployment and operational efficiency Particulars Sep'25 Closing Capital Employed 80,121 Adjustments: (-) Fair Value Gain (IndAS implementation) (12,749) (-) Cash Infused (Pre-IPO) by Promoters for future expansion (11,930)
Slide 22: Driving Growth Through ROCE Accretive Expansion Strategy
Driving Growth Through ROCE Accretive Expansion Strategy High Teens ROCE Development Pipeline Owned Hotels New Verticals + Managed 13.9% Synergy Contracts ARQ Club Same Store + Luxury Growth Residences RevPAR & EBITDA Growth + Value Drivers Sep’25 FY30 21
Slide 23: Operational Highlights
1 | Financial Performance 2 | Operational Highlights 3 | Growth Updates 4 | Appendix 22 The Leela Palace Udaipur
Slide 24: Setting Our Own Benchmarks And Beating Them
Setting Our Own Benchmarks And Beating Them Brand and Service Excellence delivering Industry Leading NPS NET PROMOTER SCORE – PORTFOLIO HOTELS 89 87 86 85 85 84 83 76 74 81 79 77 75 FY24 FY25 H1 FY26 Industry Average for Luxury segment (1) (1) Industry average represents data for CY23 and CY24 for L
Slide 25: Asset Enhancement Initiatives and Key Launches
ASSET ENHANCEMENT INITIATIVES AND KEY LAUNCHES ARQ Club Reposition of Mix Le Cirque (The Leela Palace Bengaluru) Use Areas (The Leela Palace New Delhi) (The Leela Palace Bengaluru)
Slide 26: The Leela Luxury Ecosystem in Action
The Leela Luxury Ecosystem in Action Integrated strategic enhancements delivering 23% YoC across portfolio Upgraded Retail Wing ARQ Club Q2 FY26 Q2 FY26 The Leela Palace Bengaluru Repurposed MICE Refurbished Venue Rooms Q4 FY24 Q4 FY25 Added & Upgraded F&B Outlets Aujasya Spa 25
Slide 27: ARQ – Our Invite-Only Luxury Club Offering
ARQ – Our Invite-Only Luxury Club Offering ARQ at Bengaluru launched; New Delhi and Chennai to be launched in H2FY26 BEFORE AFTER UNDERUTILIZED AREA ARQ CLUB Vacant areas in the Hotel converted into a new ultra premium offering ‘ARQ Club’ 26
Slide 28: Revamped Luxury Retail Wing – Launched in Sep 2025
Revamped Luxury Retail Wing – Launched in Sep 2025 A supply-demand gap exists for high-end retail experiences within premium hospitality environments BEFORE AFTER • Expected to generate ₹100 Mn+ revenue annually • ~34,000 sq. ft. of high-end retail space • Rising Affluence: Bengaluru is home to 13,6
Slide 29: The Le-Cirque: Transformed, Renovated and Relaunched
The Le-Cirque: Transformed, Renovated and Relaunched Relaunched our signature Franco-Italian fine dining restaurant at The Leela Palace New Delhi in Sep’25 BEFORE AFTER BUSINESS CENTRE LE CIRQUE Business Centre converted into an F&B Outlet ‘Le Cirque’ 28
Slide 30: Awards and Rankings
#3 Best City Hotel Asia’s 50 Best Bars The Leela Palace New Delhi ZLB23 Travel + Leisure Readers’ Favourite Hotels Ranked #31 among in India of 2025 Asia’s 50 Best
Slide 31: Conde Nast's Top 50 Restaurants
Conde Nast’s Top 50 restaurants Le Cirque Megu Ranked #44 among Ranked #39 among India’s 50 Best India’s 50 Best
Slide 32: Growth Updates
1 | Financial Performance 2 | Operational Highlights 3 | Growth Updates 4 | Appendix 31 The Leela Palace Udaipur
Slide 33: Strong Embedded Growth on the back of Four Pillars
Strong Embedded Growth on the back of Four Pillars We continue to deliver high quality growth across all segments EXPANSIONS NEW DEVELOPMENTS MANAGEMENT SAME STORE NEW OWNED MANAGEMENT CONTRACTS 1 GROWTH 2 INITIATIVES VERTICALS 3 HOTELS 4 CONTRACTS Upgrading our ARQ 1,309 Keys 203 Keys assets Invite
Slide 34: Brookfield Taking The Leela Global | Dubai
Brookfield Taking The Leela Global | Dubai Received Board approval to enter binding agreements for acquiring a 25% stake in a luxury operating beachfront resort in Dubai's iconic Palm Jumeirah 75% stake 25% stake 33
Slide 35: Dubai | International Expansion
Dubai | International Expansion The Leela Palaces, Hotels and Resorts (“The Leela”) has received board approval to sign binding agreements to acquire a 25% stake in a luxury operating beachfront resort in Dubai’s iconic Palm Jumeirah (the “Resort”). Private funds, managed by Brookfield, shall acquir
Slide 36: Dubai | Premier Beachfront Location
Dubai | Premier Beachfront Location Located in Palm Jumeirah, one of the world's most established luxury destinations with high barriers to entry due to constrained land supply Other Key Luxury Resorts 3 The located in Palm Jumeirah 4 Resort 2 1 One&Only The Palm 2 Raffles The Palm Dubai 3 Atlantis
Slide 37: Dubai | Investment Highlights
Dubai | Investment Highlights • Upon conversion to “The Leela", it will mark the brand’s first international foray Strategic Global Expansion • A flagship resort in Dubai, leveraging strong travel flows from India, Dubai’s largest feeder market, and amplifying global brand visibility • High barrier
Slide 38: Dubai | Asset Overview
Dubai | Asset Overview Attractive basis for a luxury operating beachfront resort with rebranding potential in Dubai's iconic Palm Jumeirah 546 Keys (1) 35% Suites (% of Hotel Keys) (2) 63 sqm Avg. Room Size (2) 12 F&B Outlets 23,500 SF Banqueting Space (1) 361 Hotel Keys, 182 residences, 3 Villas (2
Slide 39: Robust Market Fundamentals | Hospitality
Robust Market Fundamentals | Hospitality Luxury hotels on Palm Jumeirah have outperformed the broader Dubai luxury hospitality market. Limited near-term supply is expected to further support this outperformance Supply Growth: Luxury Palm Jumeirah Hotels RevPAR ($) Growth: Luxury Palm Jumeirah Hotels
Slide 40: Robust Market Fundamentals | Residential
Robust Market Fundamentals | Residential Within the luxury residential segment, Dubai has recorded the highest transaction volume globally supported by robust population growth Dubai Population (Mn) Volume of $10 Mn+ Residential Transactions by Region, 2024 ($Bn) 3.9 $6.9 c.5% CAGR $5.0 $4.8 $4.6 $3
Slide 41: De-Risked Execution with Brookfield Support
De-Risked Execution with Brookfield Support The capex program will be executed by Brookfield, which has a dedicated on-ground development team and a strong track record of marquee developments in the UAE Brookfield Middle East Development Projects ICD BROOKFIELD PLACE, DUBAI SOLAYA RESIDENCES, DUBAI
Slide 42: Mumbai | The Leela Palace Mumbai, BKC | Overview
Mumbai | The Leela Palace Mumbai, BKC | Overview In June 2025, The Leela and Brookfield led consortium successfully won the bid to acquire(1) a 2.1 acre prime plot in BKC, Mumbai’s CBD, presenting a marquee opportunity to build a modern mixed-use complex, anchored by a 250+ keys Leela Palace Hotel a
Slide 43: Mumbai | The Leela Palace BKC | Structure Update
Mumbai | The Leela Palace BKC | Structure Update Leela BKC Holdings Private Limited will seek regulatory approvals to demerge the office business from the existing entity such that The Leela will only own a 50% stake in the hotel business Current Structure Revised Structure Brookfield Brookfield 50%
Slide 44: Atithi Devo Bhava (Guest is God)
“Atithi Devo Bhava (Guest is God)” The Leela Palace Udaipur
Slide 45: Appendix
1 | Financial Performance 2 | Operational Highlights 3 | Growth Updates 4 | Appendix 44 The Leela Palace Udaipur
Slide 46: 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 47: ESG – Strategic Initiatives
ESG – Strategic Initiatives Creating Shared Value with Purpose Partnerships Leela Ke Phool Leela’s Ceremonial Rituals 1.41 MT of floral waste 50 upcycled Local artists supported daily JMGU – Women Jalinga Tea Empowerment 47% ~89k Tea sourced from a embroidered jute carbon-neutral, bags procured loca
Slide 48: ESG – Growing Responsibly
ESG – Growing Responsibly Continued success towards our Net Zero Goal – Commissioned 2.25 MW solar plant at TLPC in Q2FY26. 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 6,000+
Slide 49: 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 Units Metrics FY24 FY24 FY24 FY24 FY25 FY25 FY25 FY25 FY26 FY26 Occupancy % 58.7% 62.0% 69.1% 78.0% 59.7% 64.9% 69.4% 77.6% 63.6% 68.7% ADR ₹ 16,148 19,027 23,224 24,127 16,698 18,042 25,827 27,918 18,817 19,290 RevPAR ₹
Slide 50: Reconciliation to Operational EBITDA
Reconciliation to Operational EBITDA (₹ in Mn) YoY YoY Particulars Q2 FY26 Q2 FY25 H1 FY26 H1 FY25 Growth Growth Reported Total Revenue (A) 3,334 2,997 11% 6,348 5,402 18% Less: Other Income (228) (226) (493) (348) Reported Revenue from Operations (B) 3,106 2,772 5,854 5,054 Adj: Rental and other op
Slide 51: 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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