Leela Palaces Hotels & Resorts Ltd

- The company plans capex for new pipeline assets, which will lead to an increase in debt. - Net debt to EBITDA is expected to remain stable at around 1.6x in FY27 despite capex. - Over time, net debt to EBITDA is projected to improve to around 1.4x and then closer to 1.0x, assuming EBITDA growth. - If any acquisitions occur, net debt to EBITDA could temporarily increase but will stabilize once assets generate EBITDA. - No explicit mention of new equity fundraising was made in the call excerpts. - The company currently operates with strong financial headroom supported by a strong AA credit rating and cash conversion capability, allowing flexibility for funding expansion and capex. - Overall, the focus is on disciplined capital deployment with manageable debt levels.

- Acquisition of Coorg ultra-luxury all-villa operational resort (71 keys) announced in Q4 FY26, to be rebranded as The Leela Coorg Forest Sanctuary; focus on immersive nature and wellness hospitality. - Planned capex of approx. INR 38 crores for Phase 1 expansion involving 19 additional villas at Coorg. - Ongoing greenfield developments progressing on schedule at Bandhavgarh, Srinagar, Sikkim, Agra, Ayodhya, and Ranthambore with no capex escalation. - Capex planned for refurbishment and rebranding of Dubai Palm Jumeirah Resort, expected completion by 2028; refurbishment work to start by end of calendar year 2026. - FY27 and FY28 capex guidance stable with no escalation noted; funded through existing financial headroom and conservative net debt levels (net debt to EBITDA ~1.6x). - Potential future expansion at Coorg beyond Phase 1 under evaluation once stabilized; current 20 acres used out of 76-acre property.

- Revenue growth expected in FY27 with continued double-digit increases in F&B and management fees, supported by ramp-up of managed hotels like Hyderabad. - Coorg property to contribute INR 65-70 crores in revenue in FY27 with occupancy in early 40s; stabilized revenue of INR 165-175 crores expected by year four including 19 villas expansion. - Net debt to EBITDA ratio expected to remain stable around 1.6x in FY27, reducing progressively to around 1.0x as new assets start generating EBITDA. - Occupancy guidance for FY27: mid-70% for city hotels and mid-60% to late 60% for resorts; overall occupancy in early 70s. - After March disruption due to international business impact, April and upcoming months expected to see strong rebound with high single-digit to double-digit RevPAR and revenue growth. - Continued growth in non-resident covers by 9-12%, driving F&B revenue. - Expansion pipeline with ongoing construction in Ayodhya, Agra, and Ranthambore on schedule without cost escalations.

- Operating EBITDA grew 19% YoY in FY26 with margin expansion by 167 bps to 49%, demonstrating strong operating leverage and disciplined cost management. - Revenues expected to see double-digit growth in Q1 and Q2 FY27, with May and June predicted as exceptional months. - Net debt to EBITDA ratio is stable at 1.6x in FY26, expected to decline to 1.4x and then closer to 1x in future years. - EBITDA projected to increase as value drivers and new assets come into full operation. - Coorg acquisition to contribute INR 65-70 crores revenue in FY27 with healthy EBITDA margins of 50-55% once stabilized. - Profit after tax surged 8.5x from INR 48 crores in FY25 to INR 403 crores in FY26 reflecting structural business strengthening. - Continued premium positioning and brand equity expected to support sustained pricing power and revenue growth.

The transcript of Leela Palaces Hotels & Resorts Limited's Q4 FY26 earnings call does not explicitly mention details about the current or expected order book or pending orders. The discussion primarily focuses on: - Financial performance, cost management, and operating metrics. - Expansion and pipeline of new keys (23% growth with 966 additional keys visible). - Ongoing and planned capital expenditure related to new hotel development and refurbishment, including the ARQ membership club expansion. - No specific reference to a formal order book or pending orders backlog was provided. Therefore, there is no detailed quantitative information on current or expected orderbook/pending orders disclosed in the provided document.