Shares of Lemon Tree Hotels Limited hit an intraday high of Rs 117.25 on the BSE on 20 April, climbing 2.35% from the previous close of Rs 114.55, after the company disclosed the signing of a new property in Garudeshwar, Gujarat.

The hotel chain told exchanges it will add a 90-room property in Garudeshwar under the Lemon Tree Hotels brand. Carnation Hotels Private Limited, a wholly owned arm of Lemon Tree Hotels, will manage the upcoming asset.

The property will offer a restaurant, banquet hall, meeting room, swimming pool, spa, and fitness centre.Garudeshwar sits roughly 5 km from Ekta Nagar Railway Station and about 85 km from Vadodara International Airport.

With this signing, Lemon Tree Hotels’ Gujarat portfolio grows to 32 properties, 11 operational and 21 in the pipeline. MD Neelendra Singh said the location fits the company’s strategy of building ‘presence in locations where sustained demand is supported by strong travel circuits.

‘This signing is part of a broader expansion push. Lemon Tree Hotels recorded 56 new signings and 20 hotel openings in FY2025-26 so far.

Revenue from operations rose 14.3% year-on-year to Rs 406.05 crore in Q3 FY26, while consolidated net profit edged up to Rs 62.67 crore from Rs 62.49 crore a year earlier.

At 10:39 am on BSE, shares were trading at Rs 113.00, down by 1.35% from the previous close, pulling back from the session high. The stock’s 52-week range stands at Rs 99.70 to Rs 180.60.

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