Analysts/Institutional Investor Meet/Con. Call Updates

LEELA PALACES HOTELS & RESORTS LIMITED (formerly known as Schloss Bangalore Limited) Registered Office: The Leela Palace, Diplomatic Enclave, Africa Avenue, Netaji Nagar New Delhi South Delhi 110023 Tel No. +91 (11) 39331234 Email Id: cs@theleela.com CIN: L55209DL2019PLC347492 Website: www.theleela.com Ref No. THELEELA/2026-27/62 Date: October 22, 2026 To To Sr. General Manager Sr. General Manager Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Dalal Street Bandra Kurla Complex Mumbai – 400001 Bandra (E), Mumbai – 400 051 Scrip Code- 544408 Symbol- THELEELA ISIN - INE0AQ201015 ISIN - INE0AQ201015 Sub: Transcript of the Analysts / Institutional Call Dear Sir/ Madam, In continuation to our letter dated October 8, 2026, and pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the transcript of the Leela Palaces Hotels & Resorts Limited Q2’FY27 Earnings Conference Call held on October 14, 2026. The above information will also be available on the website of the Company at www.theleela.com/investors. We request you to kindly take the above on record. Thanking you, For Leela Palaces Hotels & Resorts Limited (formerly known as Schloss Bangalore Limited) Jyoti Maheshwari Company Secretary and Compliance Officer Membership No.: A24469 Encl.: as Above Leela Palaces Hotels & Resorts Limited Q2 FY27 Earnings Conference Call October 14, 2026 MANAGEMENT: MR. ANURAAG BHATNAGAR, WHOLE TIME DIRECTOR AND CHIEF EXECUTIVE OFFICER MR. RAVI SHANKAR, HEAD - ASSET MANAGEMENT AND CHIEF FINANCIAL OFFICER MR. ABHISHEK AGARWAL, SENIOR VICE PRESIDENT – FINANCIAL PLANNING & ANALYSIS AND INVESTOR RELATIONS Page 1 of 21 Leela Palaces Hotels & Resorts Limited October 14, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Q2 FY27 Earnings Call of Leela Palaces Hotels & Resorts Limited. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star, then zero on your touch-tone phone. Please note that this conference is being recorded. I now hand over the conference call to Mr. Abhishek Agarwal, Senior Vice President, FP&A and Investor Relations at The Leela Palaces Hotels & Resorts Limited. Thank you, and over to you, sir. Abhishek Agarwal: Thank you, operator. Good evening, everyone. Welcome to the earnings call of Leela Palaces Hotels & Resorts Limited for the quarter and half year ended 30th September 2026. We have published our quarterly results and investor presentation on the stock exchanges earlier today. The same is also available on our Investor Relations website, www.theleela.com/investors. Before we start, a disclaimer. We would like to inform you that the management may make certain comments on this call that one could deem forward-looking statement. Specifically, the financial guidance and proforma information that we will provide on the call are management estimates based on certain assumptions and have not been subjected to any audit, review, or examination procedures. The company does not guarantee these statements and is not obliged to update them at any time. Participants are cautioned not to place undue reliance on these forward- looking statements. Joining me today are Mr. Anuraag Bhatnagar, Whole-Time Director and CEO; and Mr. Ravi Shankar, Head of Asset Management and CFO. I will now hand over the call to Mr. Bhatnagar. Over to you, Anuraag. Anuraag Bhatnagar: Thank you, Abhishek. Good evening everyone, and thank you for joining us. Q2 FY27 was another quarter of exceptional performance for The Leela. More importantly, it reinforced what we believe is the core of our story. Luxury demand in India is broadening and deepening, supply remains constrained, and the value in this market accrues to the brands with the most iconic assets and the strongest guest franchise. We delivered 30% RevPAR growth, 33% growth in operating revenue, and 36% growth in operating EBITDA; a second consecutive quarter of 35% plus EBITDA growth. The momentum we built earlier in the year has carried through, while we continue to gain market share and sustain industry-leading guest satisfaction. For the first half as a whole, operating revenue grew 30% and operating EBITDA grew 38%, with margin expanding by 246 basis points. Overall, we have delivered significantly ahead of our guidance in H1; and as we enter H2, which is the stronger season for the hospitality sector. Rather than walk through the quarter line by line, I would like to focus on what is driving this performance, why we believe it is durable and sustainable, and how we are positioning The Leela for its next phase of growth? The operating environment during the quarter was particularly favorable. Demand was strong across corporate travel, leisure, celebrations, and events. Domestic demand continued to Page 2 of 21 Leela Palaces Hotels & Resorts Limited October 14, 2026 demonstrate robust growth, and international demand also returned in strength. This diversity of demand is an important source of resilience for our business. Premiumization was also broad- based across customer segments, clearly highlighted by higher sales of suites and premium room categories, where the suite occupancy rose by over 700 basis points. India is increasingly the venue of choice for global summits and marquee events, and that plays directly to our strengths. During the BRICS Summit period, The Leela Palace New Delhi recorded exceptional operating performance, as our iconic location and premium positioning allowed us to capture compression demand at premium rates and further strengthened our market leadership. We see India's growing events and MICE calendar as a structural tailwind for rates, and we have a strong line-up of events in New Delhi and Bangalore in the second half. On pricing power and market leadership, our Net Promoter Score for the first half stood at an industry-leading 87, about 13 points ahead of the luxury hospitality average for the Asia-Pacific region. This consistency is what sustains guest loyalty, repeat visitation, and our ability to price ahead of the market. Alongside The Leela's ranking as the world's second-best hotel brand in the Travel + Leisure World's Best Awards 2026, three of our palaces; New Delhi, Jaipur, and Chennai were awarded MICHELIN Keys for the second consecutive year, with New Delhi and Jaipur each holding two MICHELIN Keys. Our owned domestic hotels, including Coorg, delivered strong RevPAR growth of 30% year- on-year. This growth was led primarily by a 30% ADR growth to 25,046, with the India headline occupancy at 69%, and the same-store occupancy rising to over 70%. Achieving this on an already elevated base demonstrates the durability of our pricing power. The quality of this growth matters as much as its scale. Even excluding Coorg, which was not part of our portfolio last year, our hotels delivered a similar RevPAR trajectory. Domestic revenue at our owned hotels grew by more than 30%. Occupancy is also becoming structurally stronger across our city hotels and resorts, with no trade-off against ADR growth. Our city hotels reached record occupancy at 74% for the first half against 69% last year. Resort occupancy on a same-store basis rose to nearly 60%. Alongside a strong weekday corporate base, our city palaces are witnessing increased occupancy over weekends, as affluent Indian travelers choose staycations close to home. Our resorts in parallel are becoming all-season destinations. The Leela Palace Jaipur, for example, has traditionally been a winter season property, but it is now drawing strong demand through the summer and monsoon months, taking its H1 occupancy well above 60%. Events are a c [Showing first 8,000 characters — download PDF for full document]