Mahindra Holidays Reports Strong Q2 FY26 Performance, Expands Resort Portfolio
Mahindra Holidays & Resorts India Limited (MHRIL) reported robust Q2 FY26 results with consolidated total income up 6.1% YoY to ₹749.50 crore and PAT surging 47% YoY to ₹16.90 crore. The company expanded its resort portfolio, adding a new resort in Mahabaleshwar and expanding four existing resorts, bringing total inventory to 5,742 keys across 118 resorts. Resort revenue grew 8% YoY to ₹84.00 crore with 73.4% occupancy. MHRIL's membership base increased to 304,000, with Average Unit Realization up 85% YoY to ₹9.30 lakh. The company is focusing on digital-led growth strategies, with 66% of new members coming through referrals and digital routes.
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Mahindra Holidays & Resorts India Limited (MHRIL), India's leading leisure hospitality provider, has reported robust financial results for the second quarter of fiscal year 2026, while outlining plans to strengthen its domestic and European timeshare portfolio.
Q2 FY26 Financial Highlights
MHRIL's consolidated performance for Q2 FY26 showed significant improvement:
- Total Income: ₹749.50 crore, up 6.1% year-over-year (YoY)
- EBITDA: ₹184.90 crore, increased by 16.4% YoY
- Profit After Tax (PAT): ₹16.90 crore, surged 47% YoY
On a standalone basis, the company reported:
- Total Income: ₹380.70 crore, a 2.6% increase YoY
- EBITDA: ₹140.50 crore, up 17.6% YoY
- PAT: ₹51.70 crore, grew 9.8% YoY
Resort Portfolio Expansion
MHRIL has accelerated its inventory expansion efforts:
- Added a new resort in Mahabaleshwar, Maharashtra
- Expanded four existing resorts: Kandaghat (Himachal Pradesh), Dindi (Andhra Pradesh), Patkot (Uttarakhand), and Jaipur (Rajasthan)
- Total inventory base reached 5,742 keys across 118 resorts
- Three ongoing greenfield/brownfield projects progressing well
Operational Performance
The company's operational metrics remained strong:
- Resort revenue grew 8% YoY to ₹84.00 crore
- Resort occupancy stood at 73.4% on an expanded inventory base
- Membership base increased to 304,000 with the addition of 1,432 new members
- Average Unit Realization (AUR) rose significantly to ₹9.30 lakh, up 85% YoY
Digital-Led Growth Strategy
MHRIL is focusing on digital-led member acquisition strategies to enhance its growth:
- 66% of member additions in Q2 FY26 came through referrals (Happy Family Referral Program) and digital routes, up from 58% in Q2 FY25
- The company is leveraging digital platforms to improve customer engagement and streamline the membership process
European Operations
Holiday Club Resorts Oy (HCR), MHRIL's European subsidiary, faced challenges but maintained stability:
- Revenue remained steady at €34.00 million in Q2 FY26
- Operating profit decreased slightly to €1.30 million
- Timeshare sales were impacted due to changes in credit policy, but spa and renting revenue improved
Future Outlook
Manoj Bhat, Managing Director and CEO of Mahindra Holidays & Resorts India Ltd., commented on the performance: "We have delivered a strong performance despite being affected by unprecedented rain in Himachal & Uttarakhand clusters. We accelerated inventory expansion to add a new resort & expanded 4 existing resorts. Growth in resort revenue & membership upgrade continues as we deliver superlative customer experience across touchpoints."
The company aims to enhance occupancy rates and targets sustained Average Room Rate (ARR) growth by increasing premium inventory and leveraging cross-market synergies between its operations.
MHRIL's focus on portfolio expansion, digital growth strategies, and improving operational efficiencies positions it well to capitalize on the growing demand for quality family holidays in India and Europe.
Historical Stock Returns for Mahindra Holidays
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.48% | -1.32% | -6.85% | +5.76% | -13.22% | +195.02% |
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