Mahindra Holidays and Resorts India Ltd., a leisure hospitality provider, reported its standalone and consolidated financials for the second quarter ending 30th Sept 2024.
Mahindra Holidays and Resorts India Ltd., a leisure hospitality provider, reported its standalone and consolidated financials for the second quarter ending 30th Sept 2024.Operational Highlights (Standalone)
- Member additions at 3,583; cumulative members base of 3,02,274 members
- Average Unit Realisation (AUR)1at Rs 5.04 L (+28% YoY)
- Membership Sales Value1at Rs. 180 Cr
- 3 new managed resorts added to the network- Bharatpur (Rajasthan), Pavagadh, (Gujarat) and Mysuru (Karnataka)
- Inventory expanded by 219 keys to 5492 keys
- Resort performance stable YoY with Occupancyat 77.3% despite disruptions due to inclement weather in certain locations
- Tripadvisor Travellers’ Choice Award 2024 for being in the Top 10% worldwide received for Barbeque Bay (Saj Mahabaleshwar & Madikeri), Ascot (Ooty), Seashellz (Puducherry)
- New 5-year tenure product GoZest-5 launched
Standalone Financial Highlights
- Total Incomeat Rs. 371 Cr (+12% YoY)
- EBITDA at Rs. 120 Cr (+13% YoY); EBITDA Margin at 17.2% (+30 bps YoY)
- PAT at Rs. 47 Cr (+14% YoY);PAT Margin at 12.7% (+30 bps YoY)
- Deferred Revenue stands at Rs. 5,685 Cr
- Cash Position at Rs. 1452 Cr as on 30th Sept’24
Consolidated Financial Highlights
- Total Income at 706 Cr (+5% YoY)
- EBITDA at Rs. 159 Cr (+4% YoY); EBITDA Margin at 22.5%
- PAT at Rs. 11.5 Cr (PAT excluding forex impact at Rs. 27 Cr, +36% YoY)
Manoj Bhat, Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India Ltd., said, ” In line with our aspiration of 10,000 keys by FY30, we had a strong inventory addition of 219 keys this quarter. We have also added three managed resorts at Bharatpur (Rajasthan), Pavagadh (Gujarat) and Mysuru (Karnataka). Our focus on premiumization continues with higher sales realization. Our margins expanded & standalone profit grew by 14% YoY.”
“Our European Subsidiary, HCR (Holiday Club Resorts), has delivered improved operating performance; however, the macroeconomic conditions continue to impact overall performance,” Bhat added.
MHRIL Standalone (Under Indian Accounting Standards)
| Particulars (In Rs Cr) | Q2 FY25 | Q2 FY24 |
| Total Income | 371.0 | 332.6 |
| EBITDA | 119.5 | 105.4 |
| PBT | 63.7 | 56.2 |
| PAT | 47.1 | 41.4 |
Holiday Club Resorts, Oy (Under Finnish GAAP)
| Particulars (In Euro Mn) | Q2 FY25 | Q2 FY24 |
| Total Income | 34.2 | 36.6 |
| EBITDA | 1.8 | 1.6 |
| PBT | 0.1 | 0.3 |
| PAT | 0.1 | 0.3 |
MHRIL Consolidated (Under Indian Accounting Standards)
| Particulars (In Rs Cr) | Q2 FY25 | Q2 FY24 |
| Total Income | 706.2 | 672.2 |
| EBITDA | 158.8 | 152.9 |
| PBT | 28.1 | 35.4 |
| PAT | 11.5 | 21.4 |
¹ Membership value includes Upgrades
