HLV LIMITED

Operates a single luxury hotel asset — The Leela Mumbai — generating revenue from room rentals, food and beverage, banquets and other hospitality services. The filings report one operating line (hotel income) with no segment breakdown; FY26 total income was Rs 21,427 lakhs, with employee costs at 30.1% of revenue and other operating expenses at 55.9%, reflecting the labour-heavy nature of hotel operations. Net profit in FY26 fell sharply to Rs 208 lakhs from Rs 2,613 lakhs in FY25, dragged by Rs 303 lakhs of exceptional items including a Rs 191 lakh hit from new Labour Code provisions and Rs 112 lakhs of unutilised GST input credit. Quarterly revenue tracked at Rs 6,766 lakhs in Q4 FY26 and Rs 4,995 lakhs in Q1 FY27 (up from Rs 4,397 lakhs a year earlier). The hotel land is subject to ongoing disputes with the Airports Authority of India, with cumulative disputed claims of Rs 17,552 lakhs on Mumbai hotel lease rent plus a separate Rs 80,705 lakhs AAI claim on an adjacent unconstructed plot, and AAI has initiated eviction proceedings — the auditor flagged a going concern emphasis of matter on these matters. Total assets stood at Rs 642.39 crore at FY26 end.