Please find enclosed the transcript of the Q4FY26 Earnings Conference Call held on April 28, 2026

Leela Palaces Hotels reported strong Q4 FY26 performance with operating revenue of INR 484 crores (+12% YoY) and operating EBITDA of INR 266 crores (+13% YoY), achieving a best-in-class EBITDA margin of 55%. For FY26 full year, operating revenue grew 15% to INR 1,527 crores, EBITDA rose 19% to INR 743 crores with margin expanding 167 bps to 49%, and PAT surged 8.5x to INR 403 crores from INR 48 crores in FY25. The company achieved 15% ADR growth and 14% same-store RevPAR growth, with net debt reduced by 50% to a Net Debt/EBITDA of 1.6x. FY26 saw the company's fastest expansion with 23% growth in keys (966 additional keys across Mumbai BKC, Dubai, Jaisalmer, and Coorg). Management noted March occupancy was impacted by geopolitical disruptions but April recovery is underway, with double-digit revenue and EBITDA growth expected for the quarter.