MHRIL Q1 FY27: Sales Value Surges 22% to ₹154 Cr, Driven by Premiumization
Mahindra Holidays & Resorts India Ltd. reported Q1 FY27 results with consolidated revenue up 5% YoY. Sales value increased 22% YoY to ₹154 Cr, led by premiumization. Average Unit Realisation grew 73% YoY to ₹14.4L. Resort revenue rose 10% YoY to ₹126 Cr. Deferred revenue stood at ₹5,825 Cr.
The results highlight significant growth in key operational metrics like sales value and resort revenue, indicating positive business momentum. However, the decline in consolidated profits and mention of operational challenges suggest a mixed impact on investor sentiment.
While sales value and resort revenue show positive growth, consolidated PAT has declined, and the company cited headwinds in both domestic and international operations impacting profitability. The overall financial performance is mixed.
Mahindra Holidays & Resorts India Limited (MHRIL) announced its unaudited standalone and consolidated financial results for the first quarter ended 30th June 2026. The Board of Directors meeting took place on 22nd July 2026, from 10:35 a.m. to 1:59 p.m. IST.
Consolidated revenue saw a 5% year-on-year increase. Key highlights for the quarter include a 22% year-on-year growth in sales value to ₹154 crore, driven by premiumization and upgrades through the new product, KEYSTONE. The Average Unit Realisation (AUR), including upgrades, stood at ₹14.4 lakh, a significant 73% increase YoY. Membership upgrades contributed ₹89 crore, a 58% rise YoY. The resort business reported double-digit revenue growth of 10% YoY, reaching ₹126 crore with an occupancy rate of 86.7%.
As of 30th June 2026, deferred revenue was ₹5,825 crore and cash reserves stood at ₹1,420 crore. The company is undertaking a transformation of 7 existing resorts and has exited 15 partner resorts based on feedback. MHRIL's inventory portfolio comprises 5,865 keys across 111 resorts, with a cumulative member base of 3,03,153.
On a standalone basis, MHRIL reported total income of ₹423.5 crore for Q1 FY27, compared to ₹410.6 crore in Q1 FY26. EBITDA was ₹141.6 crore (down from ₹160.9 crore), and Profit Before Tax (PBT) was ₹72.9 crore (down from ₹102.7 crore). Profit After Tax (PAT) stood at ₹54.3 crore (down from ₹76.2 crore).
Consolidated figures show total income at ₹773.5 crore for Q1 FY27, up from ₹740.2 crore in Q1 FY26. Consolidated EBITDA was ₹153.6 crore (down from ₹161.2 crore). The company reported a consolidated PBT of ₹-3.2 crore (compared to ₹26.3 crore) and a consolidated PAT of ₹-8.6 crore (compared to ₹7.2 crore).
Managing Director and CEO, Manoj Bhat, commented that while the India business faced growth-related costs impacting profitability, international operations were affected by geopolitical uncertainties and a slowdown in the Finnish economy. Despite supply chain disruptions, material availability challenges, and labor shortages impacting some inventory addition projects, MHRIL remains on track to add approximately 1,000 keys during the year and is confident in achieving its target of 10,000 keys by FY30.
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