Disclosure Context

Mahindra Holidays & Resorts India Limited (MHRIL) submitted its Q1 FY27 earnings presentation to the National Stock Exchange of India Limited (Symbol: MHRIL) and BSE Limited (Scrip Code: 533088) on 22nd July 2026. The submission was made in compliance with Regulation 30 read with Part A, Para A (15)(a) of Schedule III and other applicable provisions of the SEBI Listing Regulations. The presentation was for an earnings conference call scheduled for 23rd July 2026 at 4:00 p.m. IST. The company confirmed that no Unpublished Price Sensitive Information would be shared during the call.

Company Overview & Market Context

The presentation highlights India's leisure consumption opportunity, estimating ~1.8 Tn consumer, lifestyle & e-commerce spending by 2030 with a 19% CAGR in discretionary spending (2022-2030E). MHRIL operates as India's #1 leisure hospitality player with a business model that monetizes across a diversified ecosystem.

Operational Highlights - Q1 FY27

Network: Portfolio of 5,865 keys across 111 resorts. Approximately 350 keys were exited based on guest feedback/ratings. 8 ongoing greenfield/brownfield projects estimated to add ~1,000 keys. Overall land bank of ~500 acres with development initiated at 5 destinations: Kass, Koyna, Harihareshwar in Maharashtra, Kadapakkam in Tamil Nadu, and Amritsar in Punjab.

Resort Operations: Resort revenue grew 10% YoY despite transformation impact. Occupancy reached 87% (130 bps YoY improvement). Ongoing transformation of 7 resorts, with 3 commencing in Q1. IGBC certifications obtained for Cherai (Platinum) and Bharatpur (Gold).

Sales Performance: Sales value increased 22% YoY, led by premiumization and upgrades. Higher unit realization with AUR up 73% YoY. Upgrades showed continued momentum at 58% YoY. Cumulative member base reached 303,153. Member additions through referral & digital route at 71% in Q1 FY27 vs 65% in Q1 FY26.

Standalone Financial Performance - Q1 FY27

Income Statement: Total income increased 3.1% YoY to ₹423.5 Cr from ₹410.6 Cr. Income breakdown: Vacation Ownership income at ₹263.7 Cr (+0.5% YoY), Resort income at ₹116.0 Cr (+9.3% YoY), Non-operating income at ₹43.8 Cr (+4.3% YoY).

Expenditure: Total expenditure increased 12.9% YoY to ₹281.9 Cr. Employee benefit expense rose 15.0% to ₹112.9 Cr, Sales & Marketing decreased 4.3% to ₹24.7 Cr, Rent increased 9.0% to ₹27.8 Cr, Other expenses increased 16.3% to ₹116.5 Cr.

Profitability: EBITDA declined 12.0% to ₹141.6 Cr (Margin: 33.4% vs 39.2% YoY). Finance cost increased 34.2% to ₹17.7 Cr. Depreciation increased 13.3% to ₹51.0 Cr. PBT declined 29.0% to ₹72.9 Cr (Margin: 17.2% vs 25.0% YoY). PAT declined 28.8% to ₹54.3 Cr (Margin: 12.8% vs 18.6% YoY). Tax expenses decreased 29.8% to ₹18.6 Cr.

Balance Sheet (as of 30th June 2026): Property, Plant and Equipment: ₹3,134 Cr, Right of Use Asset: ₹786 Cr, Trade receivables: ₹1,296 Cr, Cash and cash equivalents: ₹1,420 Cr, Deferred Acquisition Cost: ₹774 Cr, Other Assets: ₹886 Cr. Total Assets: ₹8,296 Cr. Net-worth: ₹1,274 Cr, VO Deferred Revenue: ₹5,584 Cr, ASF Deferred Revenue: ₹241 Cr, Lease Liability: ₹852 Cr, Other Liabilities: ₹345 Cr.

Holiday Club Resorts (HCR) Performance - Q1 FY27

Revenue Details: Total revenue decreased to €29.4M from €31.4M YoY. Timeshare revenue: €8.5M (vs €9.6M YoY), Spa Hotels: €14.8M (vs €16.8M YoY), Renting: €3.0M (vs €3.2M YoY), Real Estate Management: €1.8M (flat YoY), Villas: €1.3M (new segment).

Profitability: Operating loss of €(4.7)M vs €(2.3)M YoY. Depreciation & Amortization: €1.0M (flat), Financial Cost: €0.6M (flat). PBT loss of €(6.3)M vs €(3.9)M YoY. Tax expense: €1.2M vs €0.7M YoY. PAT loss of €(5.1)M vs €(3.2)M YoY.

Consolidated Financial Performance - Q1 FY27

Total Income: ₹773.5 Cr (+4.5% YoY). Cost of vacation ownership weeks: ₹46.8 Cr (+3.4% YoY). Employee benefit expense: ₹223.1 Cr (+14.6% YoY). Other expenses: ₹350.1 Cr (+3.3% YoY). EBITDA: ₹153.5 Cr (-4.8% YoY) with margin at 19.8% vs 21.8% YoY. Finance cost: ₹47.1 Cr (+21.5% YoY). Depreciation: ₹109.4 Cr (+14.3% YoY). Share of profit/(loss) of JV & associates: ₹(0.2)Cr. PBT loss: ₹(3.2)Cr vs profit of ₹26.3 Cr YoY. Tax Expenses: ₹5.4 Cr vs ₹19.1 Cr YoY. PAT loss: ₹(8.6)Cr vs profit of ₹7.2 Cr YoY.

Additional Information

The presentation included standard disclaimer language about forward-looking statements being based on reasonable assumptions but subject to change, with no obligation to update them. The presentation was prepared exclusively for internal use and does not constitute an offer for sale.