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Business Standard
5 days ago
- Business
- Business Standard
Looking to maintain double-digit profit growth in FY26: MHRIL CEO Bhat
Mahindra Holidays & Resorts India is looking to maintain a double-digit growth in its consolidated profit for the remaining part of this fiscal, buoyed by a strong performance in the first quarter, according to its Managing Director and CEO Manoj 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 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 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.
News18
5 days ago
- Business
- News18
Looking to maintain double-digit consolidated profit growth in FY26: MHRIL CEO
New Delhi, Jul 27 (PTI) Mahindra Holidays & Resorts India is looking to maintain a double-digit growth in its consolidated profit for the remaining part of this fiscal, buoyed by a strong performance in the first quarter, according to its Managing Director and CEO Manoj 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. PTI RKL BAL BAL view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Business Standard
23-07-2025
- Business
- Business Standard
Mahindra Holidays gains after Q1 PAT jumps 34% YoY to Rs 8 cr
Mahindra Holidays & Resorts India added 1.79% to Rs 366.80 after the company's consolidated net profit surged 33.61% to Rs 7.87 crore in Q1 FY26 as against Rs 5.89 crore posted in Q1 FY25. Revenue from operations rose 7.43% YoY to Rs 701.40 crore for the quarter ended 30 June 2025. Profit before tax (PBT) stood at Rs 26.29 crore in Q1 FY26, marking an 87.25% increase from Rs 14.04 crore reported in the same quarter last year. During the quarter, EBITDA grew 16.3% YoY to Rs 161.2 crore, while the EBITDA margin improved to 21.8%, up from 20.2% reported in Q1 FY25. Manoj Bhat, Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India, said, "We have delivered a strong performance this quarter. Our domestic business continues to do very well. Our standalone profit grew by 69% and our PAT margin expanded by 680 bps. Resort performance has been consistent with double-digit revenue growth and sustained occupancy of 85%+ on an expanded inventory base. We have commenced a new expansion project and are focused on achieving our aspiration of 10,000 rooms by FY30. Our strategy of selective member addition while pursuing premiumization is reflected in continued growth in average unit sales realization. Our European operation, HCRO, has improved its performance in a weak seasonal quarter, showing resilience amidst multiple economic headwinds. Our consolidated profits were impacted by adverse currency movements largely due to the sharp movement in the Euro. Despite this, our consolidated profits up by 18% YoY." Mahindra Holidays & Resorts India, India's leading company in the leisure hospitality industry, offers quality family holidays primarily through vacation ownership memberships. While Club Mahindra is the flagship brand, the other brands offered by the company are Club Mahindra Fundays and Svaastha Spa.
Business Standard
23-07-2025
- Business
- Business Standard
Mahindra Holidays & Resorts India consolidated net profit rises 33.62% in the June 2025 quarter
Sales rise 7.43% to Rs 701.40 croreNet profit of Mahindra Holidays & Resorts India rose 33.62% to Rs 7.87 crore in the quarter ended June 2025 as against Rs 5.89 crore during the previous quarter ended June 2024. Sales rose 7.43% to Rs 701.40 crore in the quarter ended June 2025 as against Rs 652.86 crore during the previous quarter ended June EndedJun. 2025Jun. 2024% 7 OPM %17.3816.05 -PBDT121.93102.70 19 PBT26.2914.04 87 NP7.875.89 34 Powered by Capital Market - Live News
Time of India
03-07-2025
- Business
- Time of India
Mahindra Holidays acquires Finnish mutual real estate company KKOSS
Chennai: Mahindra Holidays & Resorts India has, through its Finland-based subsidiary, acquired 100% stake in Finnish mutual real estate company Keskinäinen Kiinteistö Oy Salla Star (KKOSS) for a cash consideration of Rs 2.35 crore. The deal was done through the Finland incorporated Holiday Club Resorts Oy (HCR), which is a wholly owned subsidiary of Covington Sarl (Covington), which is a wholly owned subsidiary of MHR Holdings (Mauritius) which is a wholly owned subsidiary of Mahindra Holidays & Resorts India. KKOSS is primarily in the business of owning and managing the property located in Block 26 in the village of Märkäjärvi, in the municipality of Salla, Finland, the company said in a stock market notification on Thursday. HCR has acquired 100% stake in KKOSS comprising 448 shares, said the notification. The turnover of KKOSS for calendar year 2024 was Rs 5.13 lakh.
