Subsidiary Completes Rs. 120 Crores Land Acquisition in Bandra (East) for 172-Key Hotel
Material subsidiary Fleur Hotels Limited has completed registration of the Deed of Conveyance for a land parcel in Bandra (East), Mumbai on September 24, 2026.
By ScoutQuest · · 1 min read
- Land Size
- 989.30 square meters
- Total Consideration
- Rs. 120 Crores
- Hotel Keys Planned
- approximately 172 keys
- Location
- Bandra (East), Mumbai
- Brand
- Lemon Tree Premier
What happened
Fleur Hotels Limited, a material subsidiary of Lemon Tree Hotels, has completed the registration of the Deed of Conveyance and related documents on September 24, 2026 for a land parcel in Bandra (East), Mumbai. This follows the company's earlier disclosure dated September 18, 2026 about the acquisition.
Deal details
- Land admeasuring about 989.30 square meters in Bandra (East), Mumbai, along the Western Express Highway, adjoining Bandra Kurla Complex.
- Total consideration of Rs. 120 Crores, exclusive of stamp duty and registration charges.
- Sellers: Asara Co-Operative Housing Society Limited, Nine Dimensions Housing LLP and others.
- The company holds Nil shareholding in these entities; they are not related to the promoter/promoter group, and the transaction is not a related party transaction.
What is planned on the site
The land is to be developed into a hotel under the Lemon Tree Premier brand — an upscale full-service property of approximately 172 keys, targeting business travellers, MICE, leisure and social segments. Planned facilities include contemporary rooms and suites, all-day dining, a fitness centre and a swimming pool. It is stated to be the Group's 7th property in Mumbai and its first development in Bandra.
Context on the group
The company states it operates 130+ hotels across 80+ cities in India and abroad, with a pipeline of 140+ upcoming properties, taking the group to 270+ properties (operational and upcoming).
How investors may read it
This is a land purchase completion, meaning capital has been committed upfront while revenue from the proposed hotel would only begin after development and opening. Investors typically watch such announcements for expansion intent in high-value micro-markets, and for the funding and construction timeline that follows.
Also from Lemon Tree Hotels
Lemon Tree Hotels signs license agreement for Keys Lite by Lemon Tree Hotels, Bhilwara
23 Oct 2026
GST appeal of material subsidiary partially allowed; interest liability on irregular ITC held not to arise
16 Oct 2026
Signs MoU with Omaxe to operate ~4,000 keys in multiple key destinations in India
16 Oct 2026
More numbers
- Total consideration for landRs. 120 Crores
- Land area989.30 square meters
- Planned hotel keysapproximately 172 keys
- Group property number in Mumbai7th property in Mumbai
- Hotels operated130+ hotels
- Cities present80+ cities
- Upcoming properties pipeline140+ upcoming properties
- Total properties operational and upcoming270+ properties
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