Leela Palaces Hotels Shares Surge to Record High Following Strong Q2 Results

Leela Palaces Hotels & Resorts shares climbed 10 percent to a record ₹649.80 after reporting a 27 percent increase in profit after tax to ₹94.6 crore for the second quarter. Operating revenue rose 33 percent year-on-year to ₹411.9 crore, bolstered by a 30 percent increase in Revenue Per Available Room. Growth was driven by strong domestic travel and MICE demand, prompting analysts at Jefferies to raise their EBITDA and PAT estimates.

The company maintains a pipeline of 10 new properties, with several luxury hotel projects scheduled for opening through 2030. Following the robust performance, analysts have reiterated a 'BUY' rating with a revised price target of ₹735.

Editor's note: Accurate summary of financial performance, analyst outlook, and development pipeline.