Subsidiary Fleur Hotels completes Rs. 120 Crores land acquisition in Bandra (East), Mumbai for a 172-key hotel
Fleur Hotels Limited, a material subsidiary, has completed registration of the conveyance deed for a land parcel of about 989.30 square meters in Bandra (East), Mumbai on September 24, 2026.
By ScoutQuest · · 1 min read
- Land Area
- 989.30 square meters
- Total Consideration
- Rs. 120 Crores (excluding stamp duty and registration charges)
- Planned Hotel Keys
- approximately 172 keys
- Brand
- Lemon Tree Premier
- Property Count in Mumbai
- 7th property in Mumbai
What happened
Following its earlier disclosure dated September 18, 2026, Lemon Tree Hotels informed the exchanges that its material subsidiary Fleur Hotels Limited completed registration of the Deed of Conveyance and related documents on September 24, 2026 for a land parcel in Bandra (East), Mumbai.
Key terms
- Land area: about 989.30 square meters
- Total consideration: 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 parties; they are not related to the promoter or promoter group, and the transaction is not a related party transaction
Planned development
The site, along the Western Express Highway adjoining Bandra Kurla Complex, is planned for an upscale full-service hotel of approximately 172 keys under the Lemon Tree Premier brand. Facilities indicated include contemporary rooms and suites, all-day dining, a fitness centre and a swimming pool. It would be the Group's 7th property in Mumbai.
Context
The group states it operates 130+ hotels across 80+ cities in India and abroad, with a pipeline of 140+ upcoming properties and 270+ properties operational and upcoming in total.
How to read it
This is a completed land purchase, not an operational hotel. The outlay is upfront while revenue would follow only after the hotel is built and opened. Management frames it as part of a strategy of building cluster-level density in high-yield Mumbai micro-markets.
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 areaabout 989.30 square meters
- Planned hotel keysapproximately 172 keys
- Property number in Mumbai7th property in Mumbai
- Hotels operated130+ hotels
- Upcoming pipeline properties140+ upcoming properties
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