Purpose: This study primarily aims at assessing Faculty Competences Development Components (FCDCs) that help in the development of educational leaders. The study further formulates a model using seven latent constructs that explain the development of the mechanism of development of educational leaders and extend the benefits of their development to different stakeholders including faculty, educational institutions and society at large. Design/methodology/approach: A systematic review of the literature was conducted to identify various FCDCs to construct a conceptual framework. Later, this conceptual framework was tested through empirical research using the structural equation modeling (SEM) technique carried out with respect to technical institutions of Punjab (India). Findings: The study identified that organizational roles are of the highest importance for the competences development of educational leaders followed by teachers' attributes and teachers' roles. The study's findings also revealed that FCDCs significantly impact beneficiaries by developing competent educational leaders as mediators between the FCDCs and beneficiaries link. The biggest beneficiaries of development are faculty members of these institutes in terms of their performance enhancements. Originality/value: The study is unique in terms of developing a model for the competences development of educational leaders and helpful in understanding various benefits of the educational leaders to various educational stakeholders.