Key Quantitative Figures

Standalone Financial Performance (₹ Cr)

| Particulars | Q1 FY27 | Q1 FY26 |

| Total Income | 423.5 | 410.6 |

| EBITDA | 141.6 | 160.9 |

| PBT | 72.9 | 102.7 |

| PAT | 54.3 | 76.2 |

Consolidated Financial Performance (₹ Cr)

| Particulars | Q1 FY27 | Q1 FY26 |

| Total Income | 773.5 | 740.2 |

| EBITDA | 153.6 | 161.2 |

| PBT | -3.2 | 26.3 |

| PAT | -8.6 | 7.2 |

Operational Metrics

  • Sales value including upgrades: ₹154 Cr (22% YoY growth)
  • Average Unit Realization including upgrades: ₹14.4L (73% YoY growth)
  • Membership upgrades: ₹89 Cr (58% YoY growth)
  • Resort revenue: ₹126 Cr (10% YoY growth)
  • Occupancy rate: 86.7%
  • Deferred Revenue as of 30th June 2026: ₹5,825 Cr
  • Cash position as of 30th June 2026: ₹1,420 Cr
  • Inventory portfolio: 5,865 keys across 111 resorts
  • Cumulative member base: 303,153 members

Strategic Updates and Operational Highlights

  • Ongoing transformation of 7 existing resorts
  • 15 partner resorts exited during the quarter based on guest feedback and ratings
  • New product KEYSTONE gained momentum during the quarter
  • Target to add approximately 1,000 keys during FY27
  • Long-term target of achieving 10,000 keys by FY30

Management Commentary

Manoj Bhat, Managing Director and Chief Executive Officer, stated that premiumization and upgrades drove the 22% YoY growth in sales value. Resort business delivered double-digit revenue growth supported by healthy occupancy levels. The company remains focused on enhancing resort network quality through transformation and rationalization.

Profitability in the India business was impacted by growth-related costs. International operations faced headwinds from geopolitical uncertainties and a slowdown in the Finnish economy. Certain inventory addition projects were impacted by supply chain disruptions, material availability challenges, and labor shortages.

Company Background

Mahindra Holidays & Resorts India Limited, established in 1996, is India's leading leisure hospitality company and part of the Mahindra Group. The company operates 100+ premium resorts under its flagship brand Club Mahindra and upcoming Mahindra Signature Resorts, serving a member community of 300,000+.