Schloss Bangalore Limited, India’s only listed luxury hospitality company operating under “The Leela” brand, has reported its best-ever first-quarter performance for Q1 FY26 following its IPO debut. Total revenue rose 25% year-on-year to Rs3,013 million, while EBITDA surged 63% to Rs1,280 million, driven by a 20% increase in RevPAR and strong market share gains across resort and urban locations.
CEO Anuraag Bhatnagar stated, “We are pleased to report a record first-quarter performance… The performance underscores the strength of India’s luxury travel market and the demand for The Leela’s distinctive experiential offerings.” The company is currently developing eight new hotels, including a landmark mixed-use project in Mumbai’s BKC featuring a 250-key ultra-luxury hotel and 63 serviced apartments near the international airport.
Operational highlights include a 42.5% EBITDA margin, improved cost ratios, and a best-in-class net promoter score of 86. Growth was supported by direct bookings, strong MICE and F&B demand, and double-digit RevPAR growth across all owned hotels.
Schloss Bangalore now operates 13 properties with 3,544 keys across 11 cities and is expanding into high-growth markets such as Agra, Srinagar, Ayodhya, Ranthambore, Bandhavgarh, and Sikkim. Brand extensions include the launch of ARQ by The Leela, a private members’ club debuting in Bengaluru this September.
Following its Rs35,000 million IPO, oversubscribed 4.7x, the company reduced net debt by 91% to Rs2,275 million and received a CRISIL credit rating upgrade to AA (Stable), reinforcing its financial strength and strategic growth trajectory.
