MHRIL Q4FY26 Revenue Up 5% to ₹844 Cr; FY26 Consolidated Revenue Grows 7% to ₹3,116 Cr
Mahindra Holidays & Resorts India Ltd. reported Q4 FY26 consolidated revenue of ₹844 crore, up 5% YoY. FY26 consolidated revenue rose 7% to ₹3,116 crore. Resort revenue grew 12% YoY to ₹443 crore in FY26, with occupancy at 81%. Average Unit Realisation (AUR) increased 77% to ₹10.1 lakh. The company added 7 new managed resorts.
The announcement details financial results and operational performance, including revenue growth and key metrics like occupancy and AUR. However, the decline in PAT and mention of international operational challenges temper the positive impact. The expansion in network and resort revenue growth are positive indicators for future performance.
While the company reported revenue growth and operational highlights like increased occupancy and AUR, the consolidated PAT saw a significant decline in Q4 FY26 and FY26 due to one-off charges and international operational challenges. This mixed performance warrants a neutral sentiment.
Mahindra Holidays & Resorts India Limited (MHRIL) announced its audited standalone and consolidated financial results for the fourth quarter and financial year ended March 31, 2026. The Board of Directors met on April 27, 2026, to approve these results.
For the full financial year 2026, MHRIL's consolidated revenue increased by 7% year-on-year to ₹3,116 crore from ₹2,909.8 crore in FY25. Consolidated EBITDA stood at ₹741 crore, a 5% increase from ₹707.8 crore in the previous year. Consolidated Profit After Tax (PAT) saw a decline of 47% to ₹67 crore compared to ₹125.9 crore in FY25. However, excluding one-off items, PAT grew by 2% to ₹136.3 crore.
The company also reported strong operational highlights for FY26, including a 12% year-on-year growth in resort revenue to ₹443 crore, with occupancy at 81% on an expanded inventory base. Average Unit Realisation (AUR), including upgrades, was ₹10.1 lakh, a 77% increase. Membership upgrades also saw a significant rise of 17% to ₹292 crore. The company added approximately 900 keys through a gross addition of 7 new managed resorts during the year.
In the fourth quarter of FY26, consolidated total income was ₹844 crore, a 5% increase from ₹807.1 crore in Q4 FY25. Consolidated EBITDA, however, decreased by 5% to ₹220.9 crore. Consolidated PAT for the quarter fell by 43% to ₹41.5 crore. Excluding one-off items, PAT saw a decrease of 38% to ₹52.3 crore.
For Q4 FY26, resort revenue grew by 11% year-on-year to ₹120 crore, with occupancy at 82%. Average Unit Realisation (AUR) increased by 83% to ₹14.1 lakh. Membership upgrades grew by 33% to ₹93 crore. Three new managed resorts were added in Dapoli (Maharashtra), North Goa, and Chikkamagaluru (Karnataka), along with expansions in three existing resorts.
Manoj Bhat, Managing Director and Chief Executive Officer, commented that the India business executed its growth strategy with accelerated network expansion and enhanced quality, leading to double-digit growth in resort revenue and sustained high utilization. He also noted the strong reception of the new product KEYSTONE and higher average unit sales realization. He highlighted that standalone profit, excluding one-off items, grew by 22% with a margin expansion of 220 basis points.
Bhat also addressed the challenges in international operations due to geopolitical headwinds, a slowdown in the Finnish economy, and adverse weather. One-time impacts from labor code implementation in India and forex losses due to rupee depreciation in international operations were also mentioned. The management is focused on improving the operating performance of international operations.
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Mahindra Holidays & Resorts India Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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