Mahindra Holidays Q1FY26 Results: Standalone PAT Surges 69%, Consolidated PAT Rises 18% YoY

Mumbai, July 23, 2025 – Mahindra Holidays & Resorts India Ltd (NSE: MHRIL | BSE: 533088) has reported strong Q1FY26 results, with standalone PAT rising 69% and consolidated PAT up 18% year-on-year. The gains were driven by improved resort performance, robust occupancy, and higher membership sales, despite currency-related impact on international operations.

Operational efficiencies and cost control supported margin expansion, while higher realisations and inventory growth added to scale. Standalone EBITDA rose 42%, and consolidated PAT excluding forex impact surged more than 13 times, underscoring core business strength across geographies.

Q1FY26 Financial Highlights

Standalone Performance

In Q1FY26, the company reported standalone total income of ₹410.6 crore, up 7% year-on-year. EBITDA grew 42% to ₹160.9 crore, driven by better cost management and operating efficiency. Profit before tax rose 68% to ₹102.7 crore, while profit after tax increased to ₹76.2 crore, up 69% over the same quarter last year. Excluding forex impact, PAT stood at ₹74.4 crore, indicating a strong core earnings performance.

Consolidated Performance

On a consolidated basis, total income rose 8% YoY to ₹740.2 crore. EBITDA came in at ₹161.2 crore, up 16% from Q1FY25. Profit before tax nearly doubled to ₹26.3 crore, while PAT rose modestly to ₹7.2 crore. However, excluding forex fluctuations, consolidated PAT surged to ₹35.3 crore from ₹2.7 crore, highlighting improved operating leverage and contribution from subsidiaries.

Operational Highlights

• Resort Revenue: ₹114 crore, up 10% YoY (excluding HCRO).
• Occupancy: Strong at 85.4% on a larger inventory base.
• Membership Sales: ₹127 crore with Average Unit Realization (AUR) of ₹8.3 lakh, a 69% YoY growth.
• Cash Reserves: ₹1,576 crore as of June 30, 2025, up 10% YoY.
• Deferred Revenue: ₹5,755 crore.
• Inventory Base: 5,794 keys across 126 resorts.
• Awards: 14 resorts earned TripAdvisor Travelers’ Choice recognition.
• New Expansion: Project initiated in Puducherry; five additional greenfield/brownfield projects in progress.
• Digital Push: New digital engagement tool introduced for assisted selling.

Management Commentary

“We have delivered a strong performance this quarter. Our standalone profit grew by 69% with a 680 bps margin expansion, and occupancy remains robust despite inventory growth. We remain focused on premiumization and our FY30 goal of 10,000 rooms,” said Manoj Bhat, Managing Director & CEO, Mahindra Holidays.

He further noted that while currency fluctuations affected European subsidiary HCRO’s contribution, operational improvements in a weak seasonal quarter underscore its resilience.

Company Overview

Mahindra Holidays & Resorts India Ltd (MHRIL), a part of the Mahindra Group, is a leading player in India’s leisure hospitality sector, offering vacation ownership products under its flagship brand Club Mahindra. As of June 30, 2025, MHRIL operates 126 resorts in India and abroad, and its European arm, Holiday Club Resorts Oy (HCR), manages 33 timeshare properties, including nine spa resorts across Finland, Sweden, and Spain.

The company is listed on NSE and BSE, and is backed by the Mahindra Group, a diversified global conglomerate with strong leadership in farm equipment, utility vehicles, IT, and financial services.

REF:https://nsearchives.nseindia.com/corporate/MHRIL_23072025144556_SE_Press_release_intimationfinal_signed.pdf

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