ICICI Securities starts India's Leela Palaces with 'buy' on strong growth prospects

Leela Palaces Hotels & Resorts

16/12/2025 04:09

** ICICI Securities initiates coverage on Leela Palaces LEEA.NS with "buy" and 600 indian rupees ($6.61) PT

** Cites strong growth driven by luxury positioning and expanding portfolio

** LEEA's Dubai investment - 25% stake in luxury beachfront property Palm Jumeirah - expected to generate annual management fee of up to 600 mln rupees FY28 onwards - ICICI Securities

** Forecasts 16% revenue growth rate and 17% EBITDA growth rate over FY26-28, led by higher avg room rates, improved occupancy and rising contribution from management fee

** Avg rating by eight analysts is "strong buy"; median PT is 562 rupees - data compiled by LSEG

** Stock up 1.4%; down 8.3% since listing in early-June

     ($1 = 90.7710 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))