Leela Palaces Hotels & Resorts (THELEELA) Q3 25/26 earnings summary

Executive summary

• Delivered over 20% year-over-year RevPAR and EBITDA growth in Q3 FY26, marking five consecutive quarters of positive PAT and double-digit growth, with cumulative YTD PAT of ₹2,313 Mn.

• Achieved best-ever quarterly performance with a 52% EBITDA margin, driven by strong demand across city and resort hotels, and continued market share gains in the luxury segment.

• Expanded operational footprint to 14 hotels with 4,090 keys and a pipeline of 9 hotels, targeting over 5,100 keys.

• Secured high-profile awards and recognitions, including Condé Nast Traveler Readers' Choice Awards, Michelin Keys, and industry-leading NPS of 86.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, were approved by the Board on January 16, 2026.

Financial highlights

• Q3 FY26 consolidated operating revenue rose 21% YoY to ₹4,574 Mn; consolidated operating EBITDA up 23% YoY to ₹2,378 Mn with a 52% margin.

• PAT for Q3 FY26 was ₹1,479 Mn, up 162% YoY; 9MFY26 PAT reached ₹2,313 Mn, reversing a loss in the prior year.

• Standalone revenue from operations for Q3 FY26 was ₹1,239.93 million, up from ₹991.64 million in Q3 FY25; standalone net profit was ₹768.11 million.

• Room revenue grew 18% in retail and 45% in group segments; F&B revenue up 29% YoY, with 17% growth in non-resident footfalls.

• Website-driven revenue grew 153% YoY.

Outlook and guidance

• On track to achieve long-term EBITDA target of ₹20,000 Mn by FY30 through same-store growth and expansion.

• Confident in sustaining mid to high teen EBITDA growth over the next 2–3 years, driven by ADR and occupancy expansion, new F&B and spa outlets, and cost optimization.

• Q4 expected to deliver double-digit growth in both ADR and RevPAR, with Q4 typically stronger than Q3.

• Pipeline of 1,000+ keys to be added by FY28, with new hotels in Mumbai, Rajasthan, Sikkim, and other locations.

• Results are not indicative of full-year performance due to sector seasonality.