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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹484 Cr
verified against source
Revenue YoY
15%
reported change
EBITDA
₹743 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Leela delivered a strong FY26 with operating revenue up 15% YoY to ₹1,527 Cr and EBITDA margin expanding 167 bps to 49%, driven by 14% same-store RevPAR growth and disciplined cost management. PAT surged to ₹403 Cr from ₹48 Cr, aided by lower finance costs. Q4 saw 12% revenue growth despite geopolitical disruptions impacting March occupancy, but ADR grew 15% and domestic demand remained robust. Management guided for double-digit RevPAR growth in Q1 FY27 and expects occupancy to recover to early 70s. The Coorg acquisition and ARK membership club are key growth drivers. Risk: prolonged Middle East conflict could further pressure international inbound travel and delay Dubai asset ramp-up.
Colored figures show movement against the previous available record.
Guidance to track
- April RevPAR grew high single-digit YoY, and management expects double-digit RevPAR growth for the full quarter.
- Blended occupancy expected in early 70s, with city hotels in mid-70s and resorts in mid-to-late 60s.
- The newly acquired Coorg resort is expected to generate ₹65-70 Cr revenue in its first full year of operation.
- Driven by ramp-up of Hyderabad hotel and improved performance across managed properties.
Risks flagged
- Middle East conflict caused a sharp drop in March occupancy, especially in city hotels with high international mix. Management noted international share fell from 50% to ~40%.
- Analyst raised possibility of write-offs on Dubai investment if situation persists. Management said it's too early to assess but acknowledged evaluating daily.
- Employee costs rose due to new labor code impact and hiring for new value drivers, pressuring Q4 margins. Management expects normalization as revenue scales.
Key quotes
- Our domestic business has not been impacted at all. And while some part of our international business has been impacted from a key source market... we have achieved a 15% ADR growth and a 6% growth year on year despite the disruption in the month of March.
- We have strengthened our domestic customer base which has allowed our occupancy in April to recover to similar levels as last year and healthy RevPAR growth versus same time last year.
- Our net debt reduced by 50% with net debt to EBITDA now at a conservative 1.6x in FY26.
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