Leela Palaces Hotels & Resorts LimitedQ2 FY27 Results & Financial Update
Leela Palaces Hotels & Resorts Limited: Q2 FY27 consolidated results and company financials – revenue ₹411.87 Cr, PAT ₹94.59 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Leela Palaces Hotels & Resorts Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Leela Palaces Hotels & Resorts Limited reported consolidated revenue from operations of INR 411.87 crore for the quarter ended September 30, 2026, marking a sequential expansion compared to INR 351.96 crore in the preceding quarter ended June 30, 2026.
Profit before tax for Q2 FY27 stood at INR 121.87 crore, rising from INR 64.34 crore reported in Q1 FY27.
Net profit after tax (PAT) for the quarter reached INR 94.59 crore, compared to INR 48.76 crore in the previous quarter, yielding an earnings per share of INR 2.83 relative to INR 1.45 in Q1 FY27.
The sequential earnings acceleration was underpinned by robust demand across luxury room segments, higher food and beverage covers, and scaling fee income from managed properties.
Finance costs remained steady at INR 38.42 crore compared to INR 39.30 crore in the previous quarter, while depreciation and amortisation expenses were recorded at INR 33.60 crore against INR 32.67 crore in Q1 FY27.
Tax expenses for the current quarter stood at INR 15.80 crore, consistent with INR 15.59 crore in the preceding period.
According to the company's investor presentation, operating revenue grew 33% year-over-year to INR 411.9 crore for Q2 FY27, driven by a 39% increase in room revenue and a 21% increase in F&B revenue.
Operating EBITDA for Q2 FY27 was reported at INR 187.7 crore, up 36% year-over-year, leading to an operating EBITDA margin of 46%.
01 · Business model
What does Leela Palaces Hotels & Resorts do?
Leela Palaces Hotels & Resorts Limited operates as a pure-play luxury hospitality company in India, offering upscale accommodations, fine dining, meetings, incentives, conferences, and exhibitions (MICE) spaces, and specialized wellness amenities across marquee destinations.
The company's revenue model spans direct room inventory, food and beverage (F&B) services, hotel management and asset (HMA) fees from managed properties, and ancillary services such as retail, wellness, and transport.
The operational portfolio encompasses both owned palaces and managed properties, serving a client base of retail leisure travelers, domestic and international corporate accounts, and high-profile institutional attendees.
Backed by Brookfield as sponsor and promoter, the enterprise combines luxury market positioning with long-term institutional ownership and multi-channel asset expansion.
02 · Historical context
What shaped the business before this quarter
The company formerly operated under the name Schloss Bangalore Limited before being renamed Leela Palaces Hotels & Resorts Limited.
The company added marquee assets including the Coorg Forest Sanctuary, which was rebranded on July 8, 2026, alongside ongoing developments in Jaisalmer and Mumbai (Waterstones).
03 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹411.87 Cr | ₹351.96 Cr |
| Total income | ₹418.03 Cr | ₹360.50 Cr |
| Profit before tax | ₹121.87 Cr | ₹64.34 Cr |
| Profit after tax | ₹94.59 Cr | ₹48.76 Cr |
| EPS | ₹2.83 | ₹1.45 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Driven by same-store performance across city hotels and resorts, alongside the inclusion of new inventory such as the Coorg property and strong average daily rate (ADR) realization.
Enhanced by higher pricing realization and increased non-resident covers across city hotel dining outlets and speakeasy venues.
Boosted by the operational ramp-up of managed properties and performance-linked fee structures in management contracts.
What drove margins
Sustained demand strength enabled an increase in Average Daily Rate (ADR) to INR 25,046 in Q2 FY27, accompanied by a RevPAR rise to INR 17,225.
Higher occupancy rates and revenue mix diversification toward non-room streams supported an operating EBITDA margin of 46% for Q2 FY27.
Active asset management and cost optimization initiatives, including planned renewable energy installations, supported operating efficiency.
05 · Demand, customers & order book
Where demand is coming from
Overall portfolio occupancy reached 68.8% in Q2 FY27, with ex-Coorg occupancy exceeding 70%.
The company's Net Promoter Score (NPS) reached 87 in H1 FY27, continuing to outperform the luxury segment industry average of 74.
Brand website contribution to room revenue expanded consistently, improving distribution economics.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
City hotels recorded high occupancy levels and sustained RevPAR growth, supported by robust corporate demand and MICE events.
Resorts continued to scale revenue contribution, supported by the ramp-up of the Coorg Forest Sanctuary and luxury leisure demand in destinations such as Udaipur and Jaipur.
Geography and market mix
Maintained dominant presence across key domestic business and leisure destinations including Delhi NCR, Bengaluru, Mumbai, Chennai, Jaipur, and Udaipur.
Included international joint venture contributions primarily associated with the Dubai Palm Jumeirah hotel asset.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
The operational portfolio stands at 15 properties with 4,162 keys, complemented by a pipeline of 10 properties adding 1,038 keys by CY30.
The portfolio maintains an approximate balance of 50% owned keys and 50% managed keys.
Projects, capex and execution
Active construction and fit-outs are underway for upcoming properties including Jaisalmer (80 keys, CY26) and Mumbai Waterstones (63 keys, CY26).
Future pipeline assets progressing through various stages of development include Srinagar, Bandhavgarh, Sikkim, Ayodhya, Agra, Ranthambore, Tadoba, and Mumbai BKC.
08 · Strategy & new businesses
How the company is trying to change its growth mix
Expansion into new business verticals including ARQ clubs, luxury residences in Mumbai, and specialized wellness facilities.
Conversion of unutilized or parking spaces into high-yield MICE centers and specialty bars such as ZLB23 and Azulian House.
09 · Reported developments
What changed operationally
Reported double-digit growth across operating revenue, operating EBITDA, ADR, and RevPAR for Q2 FY27.
Ranked #2 globally amongst best hotel brands by Travel + Leisure World's Best Awards 2026, alongside multiple Michelin Keys awarded to flagship properties.
10 · Items worth noticing
The line items that can distort a quick read
Disclosed provisions of INR 10.44 crore for the quarter ended September 30, 2026.
Recorded other income of INR 6.17 crore for Q2 FY27.
11 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Cash and bank balances stood at INR 345.5 crore as of September 30, 2026, compared to INR 286.1 crore as of March 31, 2026.
Capital allocation & funding
Total borrowings stood at INR 1,560.5 crore as of September 30, 2026, with net debt decreasing to INR 1,215.0 crore.
The company maintains an AA (Stable) credit rating with a long-dated debt maturity profile exceeding 10 years, alongside a 30 bps interest rate reduction secured from mid-October 2026.
12 · Beyond the numbers
What changed beyond the numbers
Reported update
ESG Certifications
All owned hotels are Platinum rating certified by the Indian Green Building Council, with the portfolio holding advanced EDGE ratings for design efficiency.
Reported update
High-Profile Event Hosting
Successfully leveraged major international compression events including BRICS India 2026, adding significant lift to ADRs.
13 · Previous-quarter changes
What changed since the previous quarter
Consolidated revenue from operations rose from INR 351.96 crore in Q1 FY27 to INR 411.87 crore in Q2 FY27.
PAT expanded from INR 48.76 crore in Q1 FY27 to INR 94.59 crore in Q2 FY27.
14 · Key Q&A
The quarter, answered directly
What does Leela Palaces Hotels & Resorts do?
Leela Palaces Hotels & Resorts Limited operates as a pure-play luxury hospitality company in India, offering upscale accommodations, fine dining, meetings, incentives, conferences, and exhibitions (MICE) spaces, and specialized wellness amenities across marquee destinations.
What is the clearest takeaway from Q2 FY27?
Leela Palaces Hotels & Resorts Limited reported consolidated revenue from operations of INR 411.87 crore for the quarter ended September 30, 2026, marking a sequential expansion compared to INR 351.96 crore in the preceding quarter ended June 30, 2026.
What drove revenue or demand?
Driven by same-store performance across city hotels and resorts, alongside the inclusion of new inventory such as the Coorg property and strong average daily rate (ADR) realization.
What mattered most for margins or profitability?
Sustained demand strength enabled an increase in Average Daily Rate (ADR) to INR 25,046 in Q2 FY27, accompanied by a RevPAR rise to INR 17,225.
What changed operationally beyond the headline numbers?
The operational portfolio stands at 15 properties with 4,162 keys, complemented by a pipeline of 10 properties adding 1,038 keys by CY30.
What should the next disclosure help confirm?
Progress on upcoming property openings including Jaisalmer and Mumbai Waterstones scheduled for completion in CY26.
15 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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16 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Pipeline Execution Milestones: Progress on upcoming property openings including Jaisalmer and Mumbai Waterstones scheduled for completion in CY26.
- 02
Debt Servicing and Cost Optimization: Realization of interest rate reductions and commissioning of planned renewable energy solar and hybrid plants in Chennai and Coorg.
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