Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
THELEELA · price
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Awaiting price reaction for this filing.
Schloss Bangalore (The Leela hotels) has shared additional details on a commercial plot in Bandra-Kurla Complex, Mumbai allotted by MMRDA to a consortium in which the company holds a 50% stake. The other 50% is held by Arliga Ecospace Business Park, a Brookfield Asset Management affiliate. The total lease premium is approximately ₹1,302.16 crores for an 80-year lease on an 8,411.88 sqm plot, with permissible built-up area of 33,647.52 sqm. Payment terms are 25% within 2 months and the remaining 75% within 10 months thereafter. The consortium plans to build a 250-key luxury palace hotel with the Arq Club, plus a commercial tower of about 700,000 sq ft, and is also exploring an additional 33,647.52 sqm of built-up area from MMRDA, which could nearly double the project's scale.
This is a significant brand expansion into Mumbai's most premium commercial micro-market, but the 50:50 partnership with Brookfield meaningfully shares the ₹1,300+ crore capital outlay. The deal is a key milestone for revenue diversification and long-term growth, though execution and lease payment obligations will be closely watched by investors.