Mahindra Holidays & Resorts India Ltd reported that its consolidated net profit for the quarter ending September 30 increased by 16.42 percent compared to the previous year, reaching ₹19.71 crore. In the same period last fiscal year, the company's net profit was ₹16.93 crore, as stated in regulatory filings.
Revenue from operations for the reporting quarter rose by 9.3 percent, amounting to ₹784.13 crore compared to ₹717.34 crore a year earlier.
Continued Growth and Network Expansion
Manoj Bhatt, Managing Director and CEO of Mahindra Holidays & Resorts India Ltd, noted that the domestic business maintained positive momentum throughout the quarter. Membership sales grew for the second consecutive quarter due to premiumization and service improvements, while resort revenue continued to show double-digit growth, with occupancy increasing by 220 basis points.
In parallel with this growth, the company strengthened and expanded its network of domestic resorts. Manoj Bhatt added that expansions were completed at two resorts and two existing properties were transformed during the quarter, while some resorts were closed based on guest feedback and ratings. The transformation of five additional resorts is currently underway, and approximately 1000 rooms are expected to be added over the next two quarters.
He also reported a significant expansion of the development plan, supporting the company's trajectory toward the goal of 10,000 rooms by the 2030 fiscal year.
International Operations
Regarding international business, Manoj Bhatt specified that international operations conducted through HCRO (Holiday Club Resorts Oy) demonstrated stable results despite ongoing geopolitical uncertainty and the weakness of the Finnish economy. Overall, the consolidated Profit After Tax (PAT) grew by 16.42 percent year-on-year, reflecting strong financial performance.
On Wednesday, the company's shares closed at ₹200.15, showing a rise of 1.14 percent on the BSE.