Lemon Tree Hotels Ltd

Franchise agreement highlights

• Keys Select by Lemon Tree Hotels, Bareilly franchise signed; 52-room property with restaurant and fitness centre.
• Property to be operated under a franchise model; expansion in Uttar Pradesh.
• Bareilly location: 4.9 km from Bareilly Airport and 12 km from Bareilly Junction.
• Group will have 8 operational hotels and 18 upcoming properties in Uttar Pradesh.

Opening of Lemon Tree Resort, Nashik

• Lemon Tree opens Lemon Tree Resort, Nashik, a 71-key lakeside retreat.
• Second Nashik property for the group; 16th hotel in Maharashtra.
• Managed by Carnation Hotels Private Limited, a wholly owned subsidiary.
• 16 more properties in the pipeline.
• Located near Gangapur Dam; 33 km from Nashik Airport.
• Facilities include Citrus Café, Slounge, pool, spa, and event spaces.

Bandra East land acquisition

• Fleur Hotels Limited completed registration of the Deed of Conveyance for Bandra East land on Sep 24, 2026.
• Total consideration for land: Rs. 120 Crores (exclusive of Stamp Duty and Registration charges).
• Land area approximately 989.30 square meters in Bandra East, Mumbai.
• Proposed hotel to be Lemon Tree Premier with about 172 keys.
• Operational concept: full-service hotel for business, MICE, leisure segments.
• Located along Western Express Highway, adjoining Bandra Kurla Complex.
• Seventh Lemon Tree property in Mumbai.
• Expansion strengthens Mumbai footprint in key markets.
• Annexure-A notes no related parties; not a related-party transaction.
• Completion date disclosed: September 24, 2026.

Resignation of CS & CO (KMP)

• Mr. Pawan Kumar Kumawat resigns as Secretary & Compliance Officer (KMP); effective Nov 23, 2026; personal reasons.
• Resignation tendered Sep 24, 2026; last working day Nov 23, 2026.

Key developments

• Signing expands Telangana footprint to eight hotels in the state.
• Patancheru property will be managed by Carnation Hotels Private Limited.
• Hotel will feature 90 rooms, restaurant, banquet hall, conference room, pool, and fitness center.
• Located in Patancheru, about 55 km from Hyderabad airport.
• Telangana currently has four operational hotels and four upcoming properties.
• Total Lemon Tree properties exceed 270 with 140+ properties in pipeline.
• Group operates 130+ hotels across 80+ cities in India and abroad.

Lemon Tree Hotels Limited trading window closes from October 1, 2026 till 48 hours after the declaration of Unaudited Standalone and Consolidated Financial Results for the quarter and half year ending on September 30, 2026.

Overview

• Composite Scheme of Arrangement between Lemon Tree Hotels Ltd and Fleur Hotels Ltd, plus six transferor companies.
• Involves transferors and transferee with their shareholders and creditors.

Rationale

• Consolidation and restructuring within the group for asset/liability alignment and potential Fleur Hotels listing.

Key terms & approvals

• Nature: composite scheme linking multiple transferors and a transferee.
• Regulatory approvals: NSE no-objection; BSE no adverse observations; NCLT sanction required.
• Listing conditions: Fleur Hotels listing subject to SEBI and exchange criteria.
• Letter validity: six-month window from issuance for observations to be acted upon.

Financial impact

• Assets and liabilities to be transferred to transferee, altering post-scheme balance sheet.
• Share exchange ratio to be determined and disclosed in scheme materials.
• Post-scheme capital structure and dilution to be disclosed in documentation.

Stakeholder impact

• Shareholders and creditors participate in the scheme under group-wide restructuring.
• Inter-company reorganization affects group corporate structure.

Status & next steps

• NSE/BSE observation letters issued on Sep 22, 2026; six-month validity.
• Scheme to be filed with the NCLT within the validity window.
• Fleur Hotels listing contingent on SEBI approval and exchange clearances; ongoing compliance.

Meeting Details

• Date: September 28, 2026; One-on-One/Group meetings; at Trident BKC, Mumbai; PL Capital Mid & Small Cap Conference 2026.

Participants

• Management team (roles not specified) to participate.

Purpose

• Participation in investor conference for investor interaction.

Operational update

• Opening marks Lemon Tree's Nashik debut and 15th operational hotel in Maharashtra.
• Nashik property features 48 rooms and suites, up from 45 disclosed previously.
• Hotel is managed by Carnation Hotels Private Limited, a wholly owned Lemon Tree subsidiary.
• Pipeline includes 16 properties in Maharashtra, with two more hotels planned in Nashik.