Mahindra Holidays & Resorts India Limited · NSE:MHRIL
Mahindra Holidays & Resorts India — Q1 FY26 Earnings Presentation
33 slides from Mahindra Holidays & Resorts India's earnings presentation, Jul 23, 2025
Slide 1: Stock exchange intimation of earnings presentation
July 23, 2025 MHRIL/SE/25-26/35 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.: Earnings p
Slide 2: Mahindra Holidays & Resorts India Ltd. Q1 FY26 Investor Presentation
MAHINDRA HOLIDAYS & RESORTS INDIA LTD. Q1 FY26 INVESTOR PRESENTATION
Slide 3: Outline
Outline Opportunity & Key Business Trends 03 MHRIL Business Model 07 Q1 FY26 Performance (Standalone, Holiday Club Resorts, Consolidated) 12 Financials 25 2
Slide 4: Opportunity & Key Trends
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 Fastest Large Growing Economy (GDP in $Tn) Rising Household Income 2023 2030 Annual Household income 26.8 34.8 (Rs mn) High High 23Mn >2.8 9Mn (3%) (6%) 17.7 26.5 4.4 7.2 Upper mid Upper mid 0.5 – 2.8 68Mn
Slide 6: Hospitality Sector on Strong Growth Trajectory
Hospitality Sector on Strong Growth Trajectory Growing demand in supply constraint market Indian Travel & Tourism industry expected to reach USD 512 billion by 2028 Demand Supply Gap (2023-27) Limited Branded Supply; more so in Leisure Hotel demand to outpace Hotel room supply growth Penetration 1.7
Slide 7: Emerging Trends & Consumer Preferences
Emerging Trends & Consumer Preferences 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 destinations in weddings,
Slide 8: MHRIL Business Model
MHRIL Business Model CLUB MAHINDRA VARCA GOA 7
Slide 9: Unique and Sustainable Vacation Ownership business
Unique and Sustainable Vacation Ownership business MHRIL Vacation Ownership business consists of .. …with unique competitive advantages Strong Brand for quality family vacation experiences Creator of new leisure destinations and world-class resorts 2,000+ curated Strong free ~3 Lakh+ members experie
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 significantly to include multiple products of different tenures, which enables targeting diverse consumer segments. • Longer tenure products inclu
Slide 11: Multi-Year Sources of Value Creation across the Membership Tenure
Multi-Year Sources of Value Creation across the Membership Tenure Vacation Ownership (VO) Income New Member Membership Fee over the entire tenure Interest Income Referrals Annual Subscription Fee (ASF) Recurring fees Happy Family Referral Program Reduced cost of member acquisition Lifetime Adjusted
Slide 12: Wide selection of Holiday Destinations & Experiences
Wide selection of Holiday Destinations & Experiences 33 Timeshare/Spa Holiday Exchange Offers 365-day 5,794 rooms across 126 Resorts Hotel Program with 500+ engagement platform Destinations in partner hotels for members for dining, travel & lifestyle Europe experiences 4,300 Resorts through Exchange
Slide 13: Standalone Performance
Standalone Performance CLUB MAHINDRA ASHTAMUDI KERALA 12
Slide 14: Q1 FY26 Performance Snapshot
Q1 FY26 Performance Snapshot Standalone Income Standalone Profit Cash Surplus Rs. 411 Cr (+7% YoY) Rs. 76 Cr (+69% YoY) Rs. 1576 Cr (+10% YoY) Total Income PAT Treasury balance Rs. 114 Cr (+10% YoY) Rs. 161 (+42% YoY) 8.8% Resort Revenue2 EBITDA p.a. yield Inventory Memberships Sales 5794 keys Rs. 8
Slide 15: Standalone Financials | Q1FY26
Standalone Financials | Q1FY26 Rs. Cr Income EBITDA PAT 7% 42% 69% 410.6 384.4 160.9 2.4 76.2 1.8 0.5 39% 0.4 63% 158.5 74.4 113.5 45.2 Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 PAT includes forex gain of Rs 1.8 Cr in Q1FY26 vs forex loss of Rs 0.4 Cr in Q1FY25 One off gain Excluding forex imp
Slide 16: Customer Acquisition | Q1 Performance
Customer Acquisition | Q1 Performance Sales Value (Rs Cr) AUR* (Rs Lakh) Member Additions -30% +69% -59% 182 3692 8.30 57 127 4.93 56 1524 125 71 Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 New Membership Sales Upgrades Member Additions through Referral (HFRP) & Digital route at 65% in Q1 FY26 v
Slide 17: Greenfield projects underway
Greenfield projects underway Rendered Image Rendered Image Site Image Site Image Ganpatipule, MH (236 keys) Theog, HP (157 keys) 16
Slide 18: Brownfield projects underway
Brownfield projects underway Site Image Rendered Image Rendered Image Rendered Image Site Image Kandaghat, HP (102 keys expansion) Site Image Treehouse, Jaipur Ph2 (39 keys) Site Image Pondicherry Ph2 (62 keys) 17
Slide 19: Network Expansion | 2X inventory base to ~10k keys by FY30
Network Expansion | 2X inventory base to ~10k keys by FY30 Improving Member to Room Ratio 68 69 61 58 57 56 52 53 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Q1FY26 • Cumulative base of 5794 keys • 5 ongoing expansion Greenfield/ brownfield projects, new project commenced- Puducherry 18
Slide 20: Resort Operations | Q1 Performance
Resort Operations | Q1 Performance Resort Revenue (Rs Cr) Occupancy +10% Keys 5273 5794 114 89.8% 85.4% 104 Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 TripAdvisor travelers choice award for fourteen resorts Resort revenue Including all subsidiaries (except HCR) 19
Slide 21: Holiday Club Resorts (HCR)
Holiday Club Resorts (HCR) We Create Dream Holidays 20
Slide 22: HCR – A Leading Timeshare Company
HCR – A Leading Timeshare Company HCR’s business consists of .. …with unique competitive advantages Timeshare Finland- Leader in Timeshare business Widespread network of Spa resorts with varied experiences 33 Timeshare Destinations in 60,000+ Finland, Sweden & Spain Timeshare owners 1 Complementary
Slide 23: HCR Performance | Q1FY26
HCR Performance | Q1FY26 Euro Mn Income EBITDA PAT 4% 31.4 30.1 Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 -2.3 -2.9 -3.2 Q1 FY25 Q1 FY26 -3.6 Improved performance in a weak seasonal quarter; largely driven by growth in Spa & Renting revenue Financials are as per Finnish Accounting Standards (FAS) 22
Slide 24: Consolidated Financials
MANALI CLUB MAHINDRA POOVAR HIMACHAL KERALA PRADESH Consolidated Financials 23
Slide 25: Consolidated Financials | Q1FY26
Consolidated Financials | Q1FY26 Rs. Cr Income EBITDA PAT 8% 16% 18% 740.2 686.1 27.5 138.6 3.2 28.1 39% 161.2 6.1 13x 135.4 3.4 7.2 2.7 Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 PAT includes forex loss of Rs 28.1 Cr in Q1FY26 vs forex gain of Rs 3.4 Cr in Q1FY25 One off gain Excluding forex i
Slide 26: Financials
CLUB MAHINDRA MASHOBRA HIMACHAL PRADESH Financials 25
Slide 27: MHRIL Standalone Financials: Income Breakup
MHRIL Standalone Financials Income Breakup Quarter ended Q1 FY26 Q1 FY25 YoY In Rs Cr Income from Vacation Ownership 128.5 132.2 -2.8% ASF Income 106.5 97.8 8.9% Interest & Others 27.5 26.4 4.2% Total VO Income 262.5 256.4 2.4% Resort Income 106.1 94.5 12.3% Non-Operating Income 42.0 33.5 25.4% Tota
Slide 28: MHRIL Standalone Financials: Profit & Loss Statement
MHRIL Standalone Financials Profit & Loss Statement Quarter ended Q1 FY26 Q1 FY25 YoY Total Income 410.6 384.4 6.8% In Rs Cr Employee Benefit 98.2 96.8 1.4% Sales & Marketing 25.8 45.6 -43.4% Rent 25.5 29.2 -12.7% Other Expenses 100.2 99.3 0.9% Total Expenditure 249.7 270.9 -7.8% EBITDA 160.9 113.5
Slide 29: MHRIL Standalone Financials: Snapshot of Balance Sheet
MHRIL Standalone Financials Snapshot of Balance Sheet 30th June 2025 31 st March 2025 Property, Plant and Equipment 2850.9 2800.7 Right of Use Asset (IND AS 116) 622.2 552.6 In Rs Cr Trade receivables 1246.9 1240.8 Cash and cash equivalents (regrouped) 1576.1 1555.0 Deferred Acquisition Cost 809.2 8
Slide 30: HCR Financials
HCR Financials In Euro Mn Segment Revenue Profit & Loss Statement Quarter ended Quarter ended Q1 FY26 Q1 FY25 Q1 FY26 Q1 FY25 Timeshare 9.6 10.7 Revenue 31.4 30.1 Operating Profit -2.3 -2.9 Spa Hotels 16.8 15.0 Depreciation & Amortization 1.0 0.9 Renting 3.2 2.5 Financial Cost 0.6 0.7 Real Estate Ma
Slide 31: Consolidated Financials
Consolidated Financials Profit & Loss Statement Quarter ended Q1 FY26 Q1 FY25 YoY Income from Operations 701.4 652.9 7.4% In Rs Cr Non-Operating Revenue 38.8 33.2 16.6% Total Income 740.2 686.1 7.9% Cost of vacation ownership weeks 45.3 44.7 1.2% Employee benefits expense 194.7 191.2 1.9% Other expe
Slide 32: Disclaimer
Disclaimer 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 reasonable at this time a
Slide 33: Contact us
Contact us: investors@mahindraholidays.com
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