Company Update : Lemon Tree Hotels Ltd By Motilal Oswal Financial Services Ltd

Operating performance in line with estimates
* 1QFY26 revenue grew 18% YoY to INR3.2b (est. in line).
* EBITDA grew 22% YoY to ~INR1.4b (est. in line).
* EBITDA margin expanded 160bp YoY to 44.5% (est. 44%) on the back of favorable operating leverage.
* Adj. PAT grew 94% YoY to INR383m (est. INR294m).
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