Lemon Tree Hotels Limited said its material subsidiary, Fleur Hotels Limited, acquired a land parcel in Bandra (East), Mumbai, adjoining Bandra Kurla Complex (BKC), to develop a Lemon Tree Premier hotel. Located along the Western Express Highway, the proposed upscale, full-service hotel will have approximately 172 keys and cater to business travellers, MICE, leisure and social demand. Facilities will include contemporary rooms and suites, all-day dining, a fitness centre and a swimming pool. It will be the group’s seventh property in Mumbai and its first development in Bandra. Managing director Neelendra Singh said the expansion supports the company’s strategy of building cluster-level density across Mumbai’s micro-markets and connecting the BKC business corridor with Bandra’s social hub.

Lemon Tree Hotels is expanding its portfolio through a land acquisition in Mumbai and an asset-light licensing agreement in Patancheru, Telangana. Its material subsidiary, Fleur Hotels Limited, is involved.

Lemon Tree Hotels said its material subsidiary Fleur Hotels completed the ₹120 crore acquisition of a 989.30-square-metre parcel in Bandra (East), Mumbai, on September 24, 2026, after registering the conveyance deed and related documents. The consideration excludes stamp duty and registration charges; the sellers include Asara Co-Operative Housing Society Ltd, Nine Dimensions Housing LLP and others. The transaction is not related-party and the parties have no shareholding connection.

The proposed Lemon Tree Premier hotel will have approximately 172 rooms and suites, all-day dining, a fitness centre and a swimming pool. It will be on the Western Express Highway, adjoining Bandra Kurla Complex, and will be the group’s seventh Mumbai hotel.

Separately, Lemon Tree signed a licence agreement for a 90-room hotel in Patancheru, Telangana, managed by subsidiary Carnation Hotels. It will include a restaurant, banquet hall, meeting and conference room, swimming pool, fitness centre and recreational facilities. The signing takes Lemon Tree’s Telangana portfolio to four operational and four upcoming hotels. Patancheru is about 55 km from Rajiv Gandhi International Airport and 5.5 km from Ramachandrapuram Railway Station.

Lemon Tree shares closed at ₹106.80 on the BSE, down ₹1.05 (0.97%).

Oberoi Realty subscribed to 26.85 crore equity shares of ₹10 each at par, worth ₹268.50 crore, in Centerstage Realty on a rights basis. The wholly owned subsidiary, incorporated on June 2, 2026, will develop about 45,371 sq metres (11 acres) of railway land in Bandra East, adjoining the Western Express Highway. Oberoi Realty retains 100% ownership and control.

The company’s bid to the Railway Land Development Authority (RLDA) for a 99-year lease of the land emerged as the highest. Oberoi Realty paid RLDA ₹247.50 crore within 30 days of the letter of demand. Bid documents require the project to be implemented through a newly incorporated special purpose vehicle, with the lease executed in the SPV’s favour and minimum paid-up and subscribed share capital of ₹268.50 crore.

The Rail Land Development Authority (RLDA) awarded Oberoi Realty its highest-ever commercial land development project after the company submitted the top bid of ₹5,400 crore for a railway land parcel in Bandra East, Mumbai. The deal was finalised on Wednesday, February 4, after financial bids were opened through a competitive tender. The winning bid marginally exceeded the ₹5,365 crore reserve price and included a 45% revenue share for RLDA.

Shree Naman Developers, in a joint venture with Brookfield, bid ₹5,373.09 crore, also offering a 45% revenue share. The parcel spans 45,371 sq m, permits a floor area ratio of four and is offered on a 99-year lease.