Lemon Tree Hotels announced that its material subsidiary, Fleur Hotels Limited, has completed the acquisition of a land parcel in Bandra (East), Mumbai, for ₹120 crore. The transaction, finalized on September 24, 2026, paves the way for the development of a new upscale hotel in one of India's key commercial hubs.

The land, admeasuring approximately 989.30 square meters, is situated along the Western Express Highway adjoining the Bandra Kurla Complex (BKC). The acquisition was executed with Asara Co-Operative Housing Society Limited, Nine Dimensions Housing LLP, and other parties. The total consideration of ₹120 crore is exclusive of stamp duty and registration charges.

Development plans and property details

Fleur Hotels Limited plans to develop an upscale full-service hotel under the Lemon Tree Premier brand on the acquired site. The proposed property will feature approximately 172 keys, including contemporary rooms and suites. Amenities are planned to include all-day dining, a fitness centre, and swimming pool facilities.

This project marks the group's seventh property in Mumbai, reinforcing its presence in the city's distinct micro-markets. The location is strategic, bridging the business corridors of BKC with the social hubs of Bandra, catering to business travelers, MICE, leisure, and social segments.

Transaction specifics

The following table outlines the key details of the land acquisition as disclosed to stock exchanges:

Strategic expansion in Mumbai

Neelendra Singh, Managing Director of Lemon Tree Hotels, stated that the expansion aligns with the company's strategy of building cluster-level market density. "Mumbai is a collection of high-yield, distinct micro-markets," Singh said. He noted that securing high-impact urban sites like this reflects a deliberate focus on expanding the premium footprint in top-tier markets.

Lemon Tree Hotels currently operates over 130 hotels across 80+ cities and has a pipeline of more than 140 upcoming properties. The group operates seven distinct brands, ranging from value-conscious to upper-upscale segments.

Lemon Tree Hotels announced the resignation of Pawan Kumar Kumawat from his role as Company Secretary and Compliance Officer. The Key Managerial Personnel's last working day will be November 23, 2026.

The resignation was tendered on September 24, 2026, citing personal reasons. Kumawat confirmed that no other material reasons exist for his departure. The company disclosed this change under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation details

The Board of Directors received the resignation letter directly from Kumawat. He expressed gratitude to the Board and senior management for their trust and support during his tenure. The disclosure was signed by Kapil Sharma, Executive Director and Chief Financial Officer.

Compliance and governance

Kumawat held the position of Key Managerial Personnel (KMP). His resignation triggers mandatory disclosures to both the National Stock Exchange of India Limited and BSE Limited. The company confirmed that the resignation letter with detailed reasons has been enclosed with the regulatory filing. No appointment of a successor was mentioned in the immediate disclosure.