| Metric | Value (₹ Cr) | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue | 752.70 | 4.9% | 10.9% |
| Total Income | 782.47 | 4.4% | 10.2% |
| Expenditure | 760.18 | 6.6% | 14.7% |
| PBT | 11.22 | 68.9% | 76.5% |
| Net Profit | 1.41 | 91.7% | 96.0% |
| OPM | 17.68% | 3.61pp | 34.51pp |
| NPM | 0.18% | 2.08pp | 4.77pp |
| EPS | 0.11 | 87.6% | 93.6% |
Mahindra Holidays Reports 10% YoY Revenue Growth, Launches New Membership Product KEYSTONE
29 Jan 2026 · 29 Jan, 2:01 pm
Summary
Mahindra Holidays & Resorts India Ltd., India's leading leisure hospitality provider, reported its standalone and consolidated financials for the quarter ending 31st Dec 2025. The company launched a new simplified & flexible membership product KEYSTONE and achieved double digit growth in resort revenue.
Key Highlights
- 1
New simplified & flexible membership product KEYSTONE launched
- 2
Double digit growth in resort revenue, Rs 125 Cr (+16% YoY); occupancy of 81.5%
- 3
New managed resorts Amba Ghat, Kolhapur (Mah.), Bandhavgarh National Park (MP) and Corbett National Park (UK)
- 4
Room Inventory base crossed 6k mark with addition of 273 keys
- 5
Membership Sales Value at Rs. 145 Cr, Average Unit Realization (AUR) at Rs 9.7L (+58% YoY)
- 6
Addition of 1493 new members; cumulative member base of 3,04,351
- 7
Cash Position at Rs. 1470 Cr as on 31st Dec’25
- 8
Deferred Revenue stands at Rs. 5,754 Cr
Management Comments
Manoj Bhat
Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India Ltd.
We had a good quarter with revenue up 10% YoY. This was led by strong resort revenue growth of 16% year on year in our India business. Our journey of premiumization continued with the launch of the simplified and flexible new membership product, KEYSTONE. This product has found a good initial response from our prospects and members. Membership upgrades continued their strong momentum achieving double digit growth over year. In line with our inventory expansion strategy, we added 3 new resorts during the quarter and added 273 rooms to our inventory base. Our India standalone business profits grew 8% despite an exceptional charge on account of the labour code changes. Our European operations HCRO has been impacted by economic headwinds and adverse weather conditions in Finland, which has had a negative impact on consolidated profitability. We continue to pursue our strategy of scaling the core and building the new.
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