Schloss Bangalore Q1 results: Leela Hotels' parent posts standalone PAT of Rs 35 crore

India’s luxury hospitality major, Schloss Bangalore Ltd, operator of The Leela Palaces, Hotels and Resorts, reported its first quarter results since going public. The company said its standalone Profit after tax (PAT) during the quarter under review stood at Rs 34.87 crore.

For the June quarter, the company said it reported a 25 per cent year-on-year (YoY) jump in total revenue to Rs 301.3 crore, while EBITDA rose 63 per cent to Rs 128 crore.

"We are pleased to report a record first-quarter performance,” said Anuraag Bhatnagar, CEO of Schloss Bangalore Ltd “Total revenue grew 25 per cent and EBITDA rose 63 per cent, supported by a 20 per cent year-on-year RevPAR increase and market share gains that outpaced the luxury hospitality sector,” Bhatnagar said.

“Our performance underscores the strength of India’s luxury travel market and the demand for The Leela’s distinctive experiential offerings,” Bhatnagar said, adding that the brand is entering “a defining phase of growth” with eight new hotels under development.

The company’s expansion plans include a landmark mixed-use development in Mumbai’s Bandra Kurla Complex (BKC), featuring a 250-key ultra-luxury hotel. Additionally, The Leela has signed a management agreement for 63 high-end serviced apartments near Mumbai International Airport, expected to be completed by FY27, Leela said in a statement.

Beyond Mumbai, The Leela is looking to bolster its presence in key tourist hubs such as Agra, Srinagar, Ayodhya, Ranthambore, Bandhavgarh, and Sikkim over the next three years.

The company also announced its entry into the ultra-luxury private members' club segment with “ARQ by The Leela,” launching later this year in Delhi, Bengaluru, and Chennai. The Bengaluru chapter is set to open in September 2025.

The June 2025 IPO, which was oversubscribed 4.7 times, raised Rs 3,500 crore. The proceeds helped reduce net debt by 91 per cent to Rs 227.5 crore, bringing the net debt-to-EBITDA ratio down to 0.3x. Ratings agency CRISIL has since upgraded the company’s credit rating to AA (Stable), the Leela said.