Mahindra Holidays & Resorts India Limited · NSE:MHRIL
Mahindra Holidays & Resorts India — Q4 FY2026 Earnings Presentation
38 slides from Mahindra Holidays & Resorts India's earnings presentation, Apr 27, 2026
Slide 1: Stock exchange intimation letter for earnings presentation
27th April 2026 MHRIL/SE/26-27/09 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C/1, G Block, Floor 25, PJ Towers, Bandra-Kurla Complex, Dalal 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. Q4 FY26 Investor Presentation
MAHINDRA HOLIDAYS & RESORTS INDIA LTD. Q4 FY26 INVESTOR PRESENTATION
Slide 3: Outline
Outline Opportunity & Key Business Trends 03 MHRIL Standalone 07 Holiday Club Resorts 23 Consolidated 27 Financials 30 2
Slide 4: India: 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 Rising Household Income Annual Household income (Rs mn ) High High 23Mn >2.8 9Mn (3%) $ 7.3 Tn economy by 2030 vs $ 4.1 Tn in 2026 (6%) Upper mid Upper mid 0.5 – 2.8 68Mn (23%
Slide 6: Hospitality Sector on Strong Growth Trajectory
Hospitality Sector on Strong Growth Trajectory Growing demand in supply constraint market Demand Supply Gap (FY25 - 28 ) Limited Branded Supply Hotel demand to outpace Hotel room supply growth Branded Penetration 35% 70% 40% 8% (% of Supply) Strong Real GDP Growth Branded Hotel openings in Jan’26 &
Slide 7: The Opportunity: $4 Billion Branded Leisure by FY30
The Opportunity : $4 Billion Branded Leisure by FY30 Leisure Segments Growing Demand & Low Branded Penetration Leisure CAGR 2X vs in - city; Only 14% branded keys CAGR ^ 8% 92% ~13% Increasing affluence: Growth in Luxury & Up - upscale Membership Non-Membership 50 New Tourism Destinations with bette
Slide 8: MHRIL Standalone Business
MHRIL Standalone Business CLUB MAHINDRA VARCA GOA 7
Slide 9: Unique and Sustainable Business Model
Unique and Sustainable Business Model Strong Brand for quality family vacation experiences Creator of new leisure destinations and world - class resorts 2,000+ curated Strong free ~3 Lakh+ members experiences cashflows Continuous member engagement to enhance lifetime Value Strong economic model; dif
Slide 10: Multi-Year Sources of Value Creation across the Membership Tenure
Multi -Year Sources of Value Creation across the Membership Tenure Guest Vacation Ownership (VO) Income Membership Fee over the entire tenure Interest Income Referrals Annual Subscription Fee (ASF) Recurring fees Happy Family Referral Program Adjusted for inflation Reduced cost of member acquisition
Slide 11: MHRIL Aspiration & Growth Vectors
MHRIL Aspiration & Growth Vectors India’s #1 leisure hospitality player Scaling the Core Building the New Enhancing Creating A Luxury Leisure Guest Experience Hospitality Brand 10
Slide 12: FY26 Overview
FY26 Overview Network Resorts Guest Accelerated expansion Double digit growth & Transformation Increased availability, Premiumization • ~900 gross keys added; cum base • Resort revenue 12% YoY; • New product launched …KEYSTONE at 6228 keys occupancy of 81% • Improved Member to Room ratio… • 7 New
Slide 13: Network | New Resorts launched in Q4
Network | 3 New Resorts launched in Q4 Colonial Santa Maria, North Goa Dapoli, Maharashtra Chikkamagalur, Karnataka 12
Slide 14: Network | Existing Resorts Expanded
Network | 3 Existing Resorts Expanded Nadiya Parao Tropicana, Alibaug Ambaghat 13
Slide 15: Network | Ongoing Greenfield Projects
Network | Ongoing Greenfield Projects Rendered Image Rendered Image Rendered Image Ganpatipule , MH Theog , HP Overall Land Bank of ~ 500 acres. Development Initiated at 5 destinations, estimated to add ~600 keys by FY30 Kass, Koyna, Harihareshw ar in Maharashtra, Kadapakkam in Tamil Nadu & Amritsar
Slide 16: Resort Operations | Q4 Performance
Resort Operations | Q4 Performance Resort Revenue (Rs Cr) Occupancy +11% Keys 5847 6228 120 107 84.6% 82.1% Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 Resort revenue Including all subsidiaries (except HCR) 15
Slide 17: Resort Operations | Strong revenue growth, high utilization
Resort Operations | Strong revenue growth, high utilization Resort Revenue (Rs Cr) Occ. 84.4% 84.6% 84% 80.7% 443 +1 2% + 8% 396 + 7% 366 342 FY23 FY24 FY25 FY26 16
Slide 18: Resorts | Increasing availability & more holiday options for members
Resorts | Increasing availability & more holiday options for members Member to Room Ratio Keys 4940 5327 5847 6228 57 56 52 49 FY23 FY24 FY25 FY26 17
Slide 19: Keystone Privileged Access
Keystone Privileged Access Our most privileged key. It lets you Access to 46 weeks during peak Access to 24 weeks during our book full 52 weeks wherever you seasons. Ideal to visit destinations at quieter seasons. Perfect for those wish, wherever you choose popular times of the year who prefer relax
Slide 20: Customer Acquisition | Q4 Performance
Customer Acquisition | Q4 Performance Sales Value (Rs Cr) AUR* (Rs Lakh) Member Additions - 1% +83% - 46% 14.1 164 162 70 93 7.7 2118 1144 94 69 Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 New Membership Sales Upgrades Member Additions through Referral (HFRP) & Digital route at 69 % in Q4 FY26 v
Slide 21: Customer Acquisition | FY26 Performance
Customer Acquisition | FY26 Performance Sales Value (Rs Cr) AUR* (Rs Lakh) Member Additions - 20% + 77% - 55 % 711 12,393 10.1 567 249 292 5.7 5,593 462 275 FY25 FY26 FY25 FY26 FY25 FY26 New Membership Sales Upgrades Cumulative Member Base of 3,03,906 * Includes Upgrades 20
Slide 22: Standalone Financials | Q4FY26
Standalone Financials | Q4FY26 Rs. Cr Income EBITDA PAT +2% +8% - 4% 407 398 142 57 55 132 Excludes ~Rs 234 Cr impairment Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 21
Slide 23: Standalone Financials | FY26
Standalone Financials | FY26 Rs. Cr Income EBITDA PAT +4% +21% +19% 1613 1545 593 +22% +20% 3 492 8 200 3 5 238 Excludes ~Rs 234 Cr 585 197 impairment 487 FY25 FY26 FY25 FY26 FY25 FY26 PAT includes one off ( labour code & forex impact) loss of Rs 3 Cr in FY26 vs one off forex gain of Rs 3 Cr in FY25
Slide 24: Holiday Club Resorts (HCR)
Holiday Club Resorts (HCR) We Create Dream Holidays 23
Slide 25: HCR Business Model
HCR Business Model Timeshare Leading Finnish hospitality company Widespread network of Spa resorts with varied experiences 33 Timeshare Destinations in 60,000+ Timeshare owners 1 Finland, Sweden & Spain Complementary business assets in terms of Timeshare Spa Hotels and Spa Hotels Multiple Revenue St
Slide 26: HCR Performance | Q4FY26
HCR Performance | Q4FY26 Euro Mn Income EBITDA PAT - 3% - 53% - 84% 39.7 38.7 6.0 3.1 2.8 0.5 Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 Financials are as per Finnish Accounting Standards (FAS) 25
Slide 27: HCR Performance | FY26
HCR Performance | FY26 Euro Mn Income EBITDA PAT 138.2 137.1 4.4 - 1.2 FY25 FY26 FY25 FY26 - 2.1 FY25 FY26 - 6.8 Financials are as per Finnish Accounting Standards (FAS) 26
Slide 28: Consolidated
MANALI CLUB MAHINDRA POOVAR HIMACHAL KERALA PRADESH Consolidated 27
Slide 29: Consolidated Financials | Q4FY26
Consolidated Financials | Q4FY26 Rs. Cr Income EBITDA PAT +5% - 5% - 43% 844 807 - 5% - 38% 12 12 11 11 232 221 73 41 Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 PAT includes one off forex loss of Rs 11 Cr in Q4FY26 vs Rs 12 Cr in Q4FY25 One off loss 28
Slide 30: Consolidated Financials | FY26
Consolidated Financials | FY26 Rs. Cr Income EBITDA PAT +7% +5% - 47% 3116 2910 +12% +2% 59 6 8 69 708 741 126 67 FY25 FY26 FY25 FY26 FY25 FY26 PAT includes one off (Labour code & forex loss) of Rs 69 Cr in FY26 vs Rs 8 Cr one off forex loss in FY25 Excluding one off impact, EBITDA up by 12% YoY & P
Slide 31: Financials
CLUB MAHINDRA MASHOBRA HIMACHAL PRADESH Financials Refer Company’s website and/or Stock Exchange submission for detailed Financials 30
Slide 32: MHRIL Standalone Financials: Income Breakup
MHRIL Standalone Financials Income Breakup Quarter ended Year ended Q4FY26 Q4FY25 YoY FY26 FY25 YoY In Rs Cr Income from VO 129.5 133.0 - 2.6% 516.1 531.2 - 2.8% ASF Income 109.2 102.7 6.3% 433.1 405.0 6.9% Interest & Others 30.0 27.8 7.9% 115.4 103.3 11.7% Total VO Income 268.7 263.5 2.0% 1,064.6 1
Slide 33: MHRIL Standalone Financials: Profit & Loss Statement
MHRIL Standalone Financials Profit & Loss Statement Quarter ended Year ended Q4 FY26 Q4 FY25 YoY FY26 FY25 YoY Total Income 407.0 398.0 2.3% 1,613.3 1,544.9 4.4% In Rs Cr Employee Benefit 104.7 103.3 1.4% 403.0 399.0 1.0% Sales & Marketing 25.0 31.2 -19.9% 100.5 156.7 -35.9% Rent 26.7 30.4 -12.2% 10
Slide 34: MHRIL Standalone Financials: Snapshot of Balance Sheet
MHRIL Standalone Financials Snapshot of Balance Sheet 31st March 2025 31st March 2026 Restated Property, Plant and Equipment 3,041 2801 In Rs Cr Right of Use Asset (IND AS 116) 761 553 Trade receivables 1,269 1241 Cash and cash equivalents (regrouped) 1,446 1555 Deferred Acquisition Cost 783 817 Oth
Slide 35: HCR Financials
HCR Financials In Euro Mn Revenue Details Profit & Loss Statement Quarter ended Year ended Quarter ended Year ended Q4 FY26 Q4 FY25 FY26 FY25 Q4 FY26 Q4 FY25 FY26 FY25 Timeshare 9.6 10.4 34.3 39.9 Revenue 38.7 39.7 137.1 138.2 Spa Hotels 22.8 23.2 79.5 76.4 Operating Profit 2.8 6.0 (1.2) 4.4 Depreci
Slide 36: Consolidated Financials: Profit & Loss Statement
Consolidated Financials Profit & Loss Statement Quarter ended Year ended In Rs Cr Q4 FY26 Q4 FY25 YoY FY26 FY25 YoY Income from Operations 820.3 778.8 5.3% 2,991.7 2,780.8 7.6% Non - Operating Revenue 23.7 28.3 -16.3% 124.3 129.0 -3.6% Total Income 844.0 807.1 4.6% 3,116.0 2,909.8 7.1% Cost of vacat
Slide 37: 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
Slide 38: Contact us: investors@mahindraholidays.com
Contact us: investors@mahindraholidays.com
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