Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
THELEELA · price
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Schloss Bangalore (operator of The Leela hotels) has been allotted an 80-year lease for a commercial plot (Plot No. C-80, G-Block) in Bandra Kurla Complex, Mumbai by MMRDA, along with consortium partners Arliga Ecospace Business Park and Schloss Chanakya. The plot covers 8,411.88 sqm with a permissible built-up area of 33,647.52 sqm. The total lease premium is about ₹1,302.16 crore, payable as 25% within 2 months and the remaining 75% within 10 months thereafter. The company plans to develop a mixed-use project featuring a 250-key luxury hotel on this plot. The bid was originally submitted on February 18, 2025, and was disclosed in the May 28, 2025 prospectus. The allotment is not a related party transaction and no promoter group has any interest in MMRDA.
This is a significant capital commitment of over ₹1,300 crore for a prime Mumbai asset, but the staggered payment over ~12 months eases cash flow pressure. The 80-year lease on a BKC plot anchors the company's presence in India's most premium commercial micro-market, supporting long-term growth in luxury hospitality and potentially boosting valuations post-listing.