Mahindra Holidays & Resorts India Limited · NSE:MHRIL
Mahindra Holidays & Resorts India — Q3 FY25 Earnings Presentation
40 slides from Mahindra Holidays & Resorts India's earnings presentation, Jan 31, 2025
Slide 1: Exchange filing cover letter for earnings presentation
January 31, 2025 MHRIL/SE/24-25/96 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C/1, G Block, Floor 25, PJ Towers, Bandra-Kurla Complex, Dalai Street, Fort, Bandra (E), Mumbai - 400 051. Mumbai - 400 001. Symbol: MHRIL Scrip Code: 533088 Dear Sir/Madam, Sub.: Earning
Slide 2: Q3 FY25 Investor Presentation
MAHINDRA HOLIDAYS & RESORTS INDIA LTD. Q3 FY25 INVESTOR PRESENTATION
Slide 3: Outline
Outline .~ ~ ClubMahindra Opportunity & Key Business Trends J 03 •------------------------------------------------------------------------------------------------------------------------------------------------------------------- MHRIL Business Model J 07 •-------------------------------------------
Slide 4: Opportunity & Key Trends
.~~ ClubMahindra India Opportunity & Key Trends CLUB MAHINDRA KANHA MADHYA PRADESH 3
Slide 5: Indian Economic Outlook in a Sweet Spot
Indian Economic Outlook in a Sweet Spot Led by Favorable Demographics & Discretionary Spending .~ ~ ClubMahindra Fastest Large Growing Economy (GDP in $Tn) Rising Household Income 2023 2030 Annual II 26.8 34.8 a Household income (Rs mn) High >2.8 9Mn (3 %) 17.7 26.5 4.4 7.2 0.5 - 2.8 #5 -@ 4.2 3.7 6
Slide 6: Penetration
Penetration (Total Branded 2.2 16.3 3.2 0.1 room per 1,000 people) Source: Hotel Association of India, Hotelivate, Horwath Report, National Statistics Office, HVS Anarock, India Hospitality Industry Overview 2023; US Consensus Bureau, Research Reports
Slide 7: Emerging Trends & Consumer Preferences
Emerging Trends & Consumer Preferences .~ ~ ClubMahindra Rise in Leisure Travel Growing Revenue from MICE & Weddings Hotel demand soaring in 2023, mainly due to rise in leisure CY2023 witnessed resurgence of Corporate MICE and Big Fat Indian travel. High footfall observed in popular tourist destinat
Slide 8: Business Model
.~ ~ ClubMahindra MHRIL Business Model CLUB MAHINDRA VARCA GOA 7
Slide 9: Unique and Sustainable Vacation Ownership business
Unique and Sustainable Vacation Ownership business ClLtbMahindra MHRIL Vacation Ownership business consists of .. _[___··_·w_it_h_u_n_iq_u_e_c_o_m_p_e_t_it_iv_e_a_d_v_a_n_t_a_g_e_s______] Strong Brand for quality family vacation experiences @ ® @ Creator of new leisure destinations and world-class r
Slide 10: Our Business Model is Differentiated
Our Business Model is Differentiated Focus on Family Vacations Larger Apartments Multi-Product Portfolio * MHRIL's product portfolio strategy has evolved arnities: foulig Coupler significantly to include multiple products of different Handy Masters tenures, which enables targeting diverse consumer A
Slide 11: Multi-Year Sources of Value Creation across the Membership Tenure
Multi-Year Sources of Value Creation across the Membership Tenure .~ ~ ClubMahindra Vacation Ownership (VO) Income ; : a -.;f Membership Fee over the entire tenure ~ , ,Income Referrals Annual Subscription Fee (ASF) Recurring fees Happy Family Referral Program Adjusted for inflation Reduced cost of
Slide 12: 5,698 rooms across 126 Resorts
33 Timeshare/Spa 5,698 rooms across 126 Resorts Hotel Destinations in Europe
Slide 13: Standalone Performance
.~ ~ ClubMahindra Standalone Performance CLUB MAHINDRA ASHTAMUDI KERALA 12
Slide 14: Performance Snapshot
03 Performance Snapshot .~ ~ ClubMahindra Membership Sales Value 1 Member Base Inventory Rs. 6.16 lakhs (+37% YoY) 3,03,747 5698 keys Average Unit Realization (AUR) Cumulative Member Base Cumulative Inventory Base Rs. 185 Cr (-13% YoY) 3,000 (-36% YoY) 206 keys Sales Value Member Additions Inventory
Slide 15: Standalone Performance
Standalone Performance .~ ~ ClubMahindra Rs. Cr Income EBITDA PAT :-----1 5% ~-----, I I I r-----i 6% ~----, I I -----i -25% ~----, I I I I I I I I T I I I I 391.4 I I I I I I I I I 373 I I I I I I I I I .. I I I I 120.4 / . . .------, I 2.3 I 68 I I 9 .7 / / ,,, 17% 22.4* • ,------, 110.7 ,.,. -- 1
Slide 16: Consistent growth in Deferred Revenue pool
Consistent growth in Deferred Revenue pool .~ ~ ClubMahindra 5722 5595 Deferred Revenue 5326 Pool 5083 (Rs. Cr) FY22 FY23 FY24 03 FY25 Deferred Cost 723 767 807 817 (Rs. Cr)
Slide 17: Customer Acquisition
Customer Acquisition .~ ~ ClubMahindra AUR* (Rs Lakh) Sales Value (Rs Cr) Member Additions i---i -36% 1---1 I I -----1 37% 1--- 7•I r---i -13% I 1----1 I I I I I I I I I I -+ I I I • 212 4708 I 6.16 185 .. I 4.51 57 69 3000 03 FY24 03 FY25 03 FY24 03 FY25 03 FY24 03 FY25 ■ New Membership Sales Upgra
Slide 18: New Managed Resort
New Managed Resort (Bookings opened) .~ ~ ClubMahindra 72 keys Resort near Corbett National Park, Patkote 17
Slide 19: Greenfield projects underway
Greenfield projects underway .~ ~ ClubMahindra Rendered Image Site Image Ganpatipule, MH (236 keys) Theog, HP (157 keys) Phl (100 keys) completion in FY26 Phl (102 keys) completion in FY26 18
Slide 20: Brownfield projects underway
Brownfield projects underway .~ ~ ClubMahindra Kandaghat, HP (102 keys expansion) Treehouse Jaipur Ph2 (39 keys) Phl (80 keys) completed. Ph2 completion in FY26 Ph2 completion in FY26 19
Slide 21: Scaling up resort network
access to 101 destinations, 78% MHRIL managed inventory < QlubMahindra Scaling up resort network ay * Q3 momentum continues: 206 keys added, cumulative base of 5698 keys Kandaghat, HP expansion..., Ph-L completed New managed resort at Patkote (near Corbett) ...bookings opened 9 new destinations ente
Slide 22: Holiday Club Resorts
NS DOL"
Slide 23: HCR - A Leading Timeshare Company
HCR - A Leading Timeshare Company .~ ~ ClubMahindra HCR's business consists of .. ... with unique competitive advantages Timeshare In Finland, leader in Timeshare business ttH Widespread network of Spa resorts with varied experiences 33 Timeshare Destinations in 60,000+ Finland, Sweden & Spain Times
Slide 24: HCR Performance
HCR Performance .~ ~ ClubMahindra Euro Mn Income EBITDA PAT r-----1 2% ~---7 I I • I ! 33.5 34.2 03 FY24 03 FY25 03 FY24 03 FY25 -1.0 --0.5 03 FY24 03 FY25 -1.8 -1.7 Steady performance despite multiple economic headwinds Financials are as per Finnish Accounting Standards (FAS)
Slide 25: Consolidated Q3 FY25 Financials
CLUB MAHINDRA POOVAR KERALA .~ ~ ClubMahindra Consolidated Q3 FY25 Financials 24
Slide 26: Consolidated Financials
Consolidated Financials .~ ~ ClubMahindra Rs. Cr Income EBITDA PAT :---i 7% 1------, -----i 30% ~----, I -----i 3.4x ~----, I I • I I I I I I ! I I 710.4 I I I I 666.3 .. I I 177.7 • -- -- 136.6 15.9 35.4 6.1 - 24% 16.1 130.5 10.5 7 . . . . . . s.sx.,;,r ■ ...... ...... . 3.5 03 FY24 03 FY25 03 FY24
Slide 27: Financials
CLUB MAHINDRA MASHOBRA HIMACHAL PRADESH .~ ~ ClubMahindra Financials 26
Slide 28: MHRIL Standalone Financials
MHRIL Standalone Financials .~ ~ ClubMahindra Quarter ended 9 months ended Income Breakup (Rs Cr) 03 FY25 03 FY24 YoY FY25 FY24 YoY Income from Vacation Ownership 133.6 126.7 5.4% 398.2 371.6 7.2% ASF Income 102.8 97.3 5.7% 302.4 281.5 7.4% Interest & Others 25.1 23.6 6.4% 75 .5 66 .9 12.9% Total VO
Slide 29: MHRIL Standalone Financials: Profit & Loss Statement
MHRIL Standalone Financials Profit & Loss Statement .~ ~ ClubMahindra Rs Cr Quarter ended Particulars 03 FY25 03 FY24 YoY Gr Income from Operations 359.9 335.7 7.2% 1,038.9 971.0 7.0% Non-Operating Revenue 31.5 37.3 -15 .5% 108.0 88.4 22.2% Total Income 391.4 373.0 4.9% 1,146.9 1,059.4 8.3% Employee
Slide 30: MHRIL Standalone Financials: Snapshot of Balance Sheet
MHRIL Standalone Financials Snapshot of Balance Sheet .~ ~ ClubMahindra Rs Cr Description Ason Ason 31st Dec 2024 31st March 2024 ASSETS Property, Plant and Equipment 2,646.8 2,500 .5 Right of Use Asset (IND AS 116) 531.6 400 .7 Trade receivables 1,254.9 1,219.5 Cash and cash equivalents (regrouped)
Slide 31: HCR Financials
HCR Financials .~ ~ ClubMahindra ~ - - - - - - -P _r_o_f_ i t_&_ L_o_s_ s _S_ta_t_e_m_e_n_t_ _ _ _ _ _ _ ~I ~I________s_e_g_m_ e_n_t_R_e_v_e_n_u_e_ _ _ _ _ _ _ _~ Quarter ended 9 months ended Quarter ended 9 months ended Particulars (Euro Mn) Particulars (Euro Mn) 03 FY25 03 FY24 FY25 FY24 03 FY25 0
Slide 32: Consolidated Financials
Consolidated Financials Profit & Loss Statement .~ ~ ClubMahindra Quarter ended 9 months ended Particulars (Rs. In Crs) YoYGr YoYGr 03 FY25 03 FY24 FY25 FY24 Income from Operations 678.4 634.8 6.9% 2,002.0 1,904.4 5.1% Non-Operating Revenue 32.0 31.5 1.6% 100.6 84.8 18.6% Total Income 710.4 666.3 6.
Slide 33: Historical Performance
CLUB MAHINDRA MASHOBRA HIMACHAL PRADESH .~ ~ ClubMahindra MHRIL Historical Performance 32
Slide 34: Large base of committed members continues to grow
Large base of committed members continues to grow .~ ~ ClubMahindra In FY24, Cumulative Member Base is "'2.98 Lakhs with 85% Fully Paid Members Total Member Base 1,99,617 2,18,138 2,35,792 2,43,574* 2,58,336 2,54,431 * 2,65,980 2,81,820 2,97,771 2,38,610 2,53,302 2,25,838 1,91,615 2,08,967 1,77,277
Slide 35: Investment in Room Inventory continues with Higher Occupancy and Operating Cash
Investment in Room Inventory continues vvith Higher Occupancy and Operating Cash .~ ~ ClubMahindra Occupancy I 81% 11 85% 11 85% 11 83%* 11 80%* 11 72%* 11 74%* 11 84% 11 85% I 5,500 5,327 1,600 5,000 1,400 4,568 1,200 4,500 3,732 1,000 4,000 3,472 3,595 800 3,500 781 519 600 572 413 3,000 470 332 3
Slide 36: A Strong and Consistent Performance Track Record
A Strong and Consistent Performance Track Record .~ ~ ClubMahindra Total Revenue CAGR: 10% for FY15-19; 8% for FY19-24 PBT CAGR: 23% for FY15-19; 17% for FY19-24 In Crs 1,434 In Crs 1,306 120 241 4 1,170 93 3 223 1,090 1,094 109 2 214 201 207 204 964 1,071* 79 109 963 1,037 337 89 909* 168 93 808 11
Slide 37: Cumulative member base provides multiple annuity revenue streams
Our cumulative member base provides us with multiple annuity revenue streams which are predictable, such as VO Income (including Upgrades), ASF Income, Resort Income, and Interest Income VO Income Resort Income ASF Income Interest & Others Non Operating Income
Slide 38: Healthy Profit Margins
Healthy Profit Margins .~ ~ ClubMahindra EBITDA Margin PBT Margin I ~➔ 1 32% 32'.Yo 5 21% 2 I 29% 29% 19% 1 19% 18% 19% 4 5 24% 25% 24% 24% 25% I 17% 0 16% 16% 23% I 13% I 16% 12% 10% I I FY15 FY16 FY17 FY18 FY19 I FY19 FY20 FY21 FY22 FY23 FY24 I FY15 FY16 FY17 FY18 FY19 FY19 FY20 FY21 FY22 FY23 FY2
Slide 39: Disclaimer
Disclaimer .~~ ClubMahindra This presentation may contain 'forward looking statements' within the meaning of applicable laws and regulations. Investors are cautioned that 'forward looking statements' are based on certain assumptions, which Mahindra Holidays & Resorts India Limited considers reasonab
Slide 40: Club Mahindra awards and recognition
l,f INDIA'S .'f MOST POPULAR ~f ~ l,f INDIA'S .'f BEST WORKPLACE ~f ~ f ASIA' RANl<M51 S BEST f TOP SO INDlA'S RS.ST WORKPLACSS ,,, RESORT 1.'1 ,,, IN HOSPITALITY 1'1 '\NORKPLAC ~ JJ UVILDING A CVLTURli ( ~ ClubMahindra ~~ - CHAIN - - ilf TIMES TRAVEL AWARD 2019 ~~ 2021 & 2022 - ,If GREAT PLACE TO W
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