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Leela Palaces to Ratify ESOP Scheme 2024 with Pool of 66.79 Lakh Stock Options
Leela Palaces Hotels & Resorts Limited has issued a postal ballot notice to seek shareholder approval for the ratification and amendment of its 2024 Employee Stock Option Scheme. The proposed ESOP pool consists of 66,79,158 options, representing 2% of the company's total paid-up share capital of 33,39,57,878 shares. This ratification is a regulatory requirement to align the pre-listing scheme with SEBI's post-listing compliance standards. Shareholders can cast their votes electronically between March 18, 2026, and April 16, 2026.
Key Highlights
Total ESOP pool size fixed at 66,79,158 stock options, equivalent to 2% of the current paid-up shares.
Scheme covers eligible employees of the company, its subsidiaries, holding, and associate companies.
Ratification is required under SEBI (SBEB & SE) Regulations 2021 as the scheme was formulated prior to listing.
Remote e-voting period is scheduled from March 18, 2026, to April 16, 2026, with a cut-off date of March 13, 2026.
Each option granted under the scheme is exercisable into one equity share of face value Rs. 10 each.
💼 Action for Investors
Investors should monitor the potential 2% equity dilution that will occur as these options are vested and exercised over the coming years. Shareholders eligible as of the cut-off date should participate in the postal ballot to vote on the special resolutions.
Leela Palaces Q3 FY26: 23% EBITDA Growth and Record 52% Margins
Leela Palaces reported a stellar Q3 FY26 with operating EBITDA rising 23% YoY to Rs 238 crores, achieving an industry-leading margin of 52%. Revenue grew 21% to Rs 457 crores, fueled by a 20% RevPAR growth and a significant 29% increase in F&B revenue. The company successfully reduced its interest costs from 9.1% to 8.25% and reported a sharp jump in PAT to Rs 148 crores. Management has raised its FY26 guidance and reaffirmed a long-term EBITDA target of Rs 2,000 crores by FY30.
Key Highlights
RevPAR increased 20% YoY driven by a strong 17% uplift in Average Daily Rates (ADR).
Operating EBITDA margins expanded to 52%, marking the fifth consecutive quarter of double-digit growth.
Net Profit (PAT) surged to Rs 148 crores from Rs 56 crores in Q3 FY25 due to EBITDA expansion and lower finance costs.
Portfolio expansion continues with the closure of the Dubai transaction and a new 80-key luxury hotel signing in Jaisalmer.
Interest rates on term loans were renegotiated down to 8.25% from 9.1%, enhancing future profitability.
💼 Action for Investors
The company's ability to maintain a RevPAR premium of Rs 5,000 over the luxury segment and achieve 52% margins makes it a top-tier pick in the hospitality sector. Investors should hold for the long-term FY30 EBITDA target of Rs 2,000 crores as the luxury consumption story remains robust.
THELEELA Q3 FY26: PAT Surges 162% to ₹1,479M; Revenue Up 21% with 52% EBITDA Margin
The Leela reported its best-ever quarterly performance in Q3 FY26, with operating revenue rising 21% YoY to ₹4,574 million and PAT jumping 162% to ₹1,479 million. The company achieved a high EBITDA margin of 52%, driven by strong pricing power as Average Daily Rates (ADR) reached ₹30,337. Key strategic moves include an international expansion into Dubai and a new management contract in Jaisalmer, supporting a long-term EBITDA target of ₹20,000 million by FY30. Additionally, the company reduced its borrowing costs by renegotiating interest rates down to 8.25%.
Key Highlights
Operating revenue grew 21% YoY to ₹4,574 million, while Operating EBITDA rose 23% to ₹2,378 million.
Profit After Tax (PAT) surged by 162% YoY to ₹1,479 million, marking the best quarterly performance.
RevPAR increased by 20% to ₹21,551, outperforming the Indian luxury segment by 2.3x.
Strategic $70 million investment for a 25% stake in a Dubai Palm Jumeirah resort, marking the first international foray.
Reduced interest rates on term loans from 9.1% to 8.25%, enhancing financial flexibility.
💼 Action for Investors
Investors should view this as a strong growth signal given the industry-leading RevPAR and significant margin expansion. The international expansion and debt cost reduction further strengthen the long-term bull case for this pure-play luxury hospitality stock.
The Leela Q3 FY26 PAT Jumps 162% to ₹1,479 Mn; EBITDA Margin Hits 52%
Leela Palaces Hotels & Resorts reported a stellar Q3 FY26 with PAT surging 162% YoY to ₹1,479 Mn and operating revenue rising 21% to ₹4,574 Mn. The company achieved a best-in-class EBITDA margin of 52%, supported by a 20% RevPAR growth which significantly outperformed the broader luxury segment. Strategic expansion continues with the signing of The Leela Jaisalmer and the closure of the Dubai acquisition, contributing to a pipeline of over 1,000 keys. Management has reiterated a long-term goal of reaching ₹20,000 Mn EBITDA by FY30.
Key Highlights
Net Profit (PAT) grew 162% YoY to ₹1,479 Mn in Q3 FY26, marking five consecutive quarters of positive PAT.
RevPAR increased 20% YoY to ₹21,551, driven by a 17% rise in Average Daily Rate (ADR) to ₹30,337.
Operating EBITDA margin expanded by 61 bps YoY to 52%, reflecting strong operational efficiency.
Expansion pipeline stands at 9 hotels (1,008 keys), including new signings in Dubai, Mumbai BKC, and Jaisalmer.
The company is targeting a stabilized EBITDA of ₹20,000 Mn by FY30 through asset enhancement and new property launches.
💼 Action for Investors
The stock remains a strong play in the luxury hospitality sector given its industry-leading margins and clear roadmap for capacity expansion. Investors should monitor the execution of the 1,000+ key pipeline and the stabilization of international operations in Dubai.
Leela Palaces Q3 Net Profit Surges to ₹768.11 Mn; Finance Costs Drop 81% YoY
Leela Palaces Hotels & Resorts reported a robust Q3 FY26 with standalone revenue rising 25% YoY to ₹1,239.93 million. Net profit witnessed a massive jump to ₹768.11 million from ₹101.17 million in the year-ago period, largely due to a significant reduction in interest burden. Finance costs fell to ₹102.11 million from ₹546.62 million after the company utilized ₹23,000 million of IPO proceeds to repay debt. The company also accounted for a one-time exceptional charge of ₹16.40 million for new Labour Code compliance.
Key Highlights
Standalone Net Profit surged to ₹768.11 million in Q3 FY26 vs ₹101.17 million in Q3 FY25.
Revenue from operations increased 25% YoY to ₹1,239.93 million from ₹991.64 million.
Finance costs plummeted 81% YoY to ₹102.11 million following ₹23,000 million debt repayment from IPO proceeds.
9M FY26 Net Profit stands at ₹1,845.37 million compared to a loss of ₹118.06 million in 9M FY25.
EBITDA grew to ₹1,065.17 million in Q3 FY26 from ₹818.26 million in the same quarter last year.
💼 Action for Investors
The significant turnaround in profitability driven by debt reduction makes the company's balance sheet much healthier. Long-term investors should focus on the company's ability to maintain high occupancy and room rates in the luxury segment to sustain this growth.