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Looking to maintain double-digit profit growth in FY26: MHRIL CEO Bhat
The company, which plans to add about 1,000 rooms this fiscal as part of its overall target of increasing its key count to 10,000 by FY30, is on track with inventory additions, Bhat told PTI.
"If you look at the consolidated profit growth of 18 per cent in Q1, I think that would be our target. In that range, we will look at growing our profits through the course of the year," he said when asked for the outlook for the remaining part of the fiscal year.
In the first quarter, Mahindra Holidays & Resorts India Ltd (MHRIL) had posted a consolidated profit after tax of Rs 7.2 crore against Rs 6.1 crore in the year-ago period, up 18 per cent.
Its total income increased 8 per cent to Rs 740.2 crore compared to Rs 686.1 crore in the corresponding period of the preceding fiscal.
In the first quarter, Indian operations continued to do well, and the "international operation is stable" but not "completely out of the woods", Bhat said.
On the company's room additions, Bhat said, "Our inventory addition plans are also on track...most of the additions will probably come in the second half of the fiscal or later in the second quarter".
In January this year, Bhat stated that MHRIL will be adding 1,000 rooms by March 2026.
"We are well on track for that. We will be adding quite a few resorts, about four in Maharashtra, one each in Goa, Rajasthan, and Madhya Pradesh...We have started work, in addition, in Puducherry," he noted.
As per the company's investor presentation for the quarter ended June 30, 2025, MHRIL has a cumulative base of 5,794 keys.
It has two greenfield projects currently underway -- a 236-key resort at Ganpatipule in Maharashtra and another 157-key property at Theog in Himachal Pradesh.
The company also has three brownfield projects -- a 102-room property at Kandaghat in Himachal Pradesh, another 39-key property, Treehouse at Jaipur and another 62-key resort in Puducherry.
As of June 30, 2025, the company has 126 resorts across India and abroad.
Its Finnish subsidiary, Holiday Club Resorts Oy (HCR), has 33 timeshare properties, including nine spa resorts in Finland, Sweden and Spain.
When asked about membership addition, Bhat said the company added about 3,000 members in the first quarter and will look to maintain the pace through the year.
On the company's European operations, he said that with the Finnish economy not doing too well, coupled with Ukraine-Russia war, and uncertainty over tariffs in the near term, not much of a change is expected.
"As I said, if it is stable, we think that that's good," Bhat noted.
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