Mahindra Holidays & Resorts India Ltd Share Price – NSE  /  BSE

Hotels & Restaurants, Small Cap

Club Mahindra, the flagship brand of Mahindra Holidays & Resorts India announced the addition of new resorts to its existing portfolio. This addition by partnering with the resorts through inventory alliance is aimed at providing members with access to exotic destinations and unique experiences across the globe, further enhancing their vacation experiences.

Among the latest additions to Club Mahindra's offerings are some stunning properties, including The Chumbi Mountain Retreat: Pelling, Sikkim; Hotel Pushkar Fort Resort: Ajmer, Rajasthan; Summit Green Lake Tea Resort: Kaziranga, Assam; Golden Tulip Westlands: Nairobi, Kenya; Royal Tulip Hotel & Casino Tbilisi: Georgia; Pullman Khao Lak Resort: Thailand; Radisson Resort: Hua Hin, Thailand.

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Mahindra Holidays & Resorts India will hold a meeting of the Board of Directors of the Company on 26 April 2024.

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Mahindra Holidays & Resorts India has appointed Ashutosh Pandey as the Chief Business Officer and Senior Management Personnel of the Company with effect from 01 October 2024.

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Total Income stood at Rs 666.33 crore during the quarter, up 6.71% from Rs 624.44 crore recorded in corresponding quarter previous year.

Profit before tax stood at Rs 6.3 crore in Q3 FY24 as compared with Rs 1.33 crore in Q3 FY23.

EBITDA grew 8% YoY to Rs 130.5 crore while EBITDA margin stood at 19.9% during the quarter under review.

Commenting on the performance, Kavinder Singh, managing director and chief executive officer, said, “Our all-round robust financial performance is reflected in the highest-ever Total Income, EB/TOA and PBT, along with improved profit margins on YoY basis. Our strategic focus on inventory acceleration continues. The largest MHRIL resort, Assonora, Goa expansion has been completed, and the overall inventory base has expanded to 5129 keys.”

Commenting on the European operations, he added, Despite the ongoing geo-political crisis & weak consumer sentiment, HCR has delivered 14% growth in timeshare sales and also reduced its operating losses by 47% this quarter aided by operational efficiencies. Q4 is a seasonally strong quarter due to winter holidaying season driven by domestic demand and international visitors.

Meanwhile, Kavinder Singh, managing director (MD) and chief executive officer (CEO) and key managerial personnel (KMP) of the company has resigned from his position effective from close of 16 May 2024. Manoj Bhat has been appointed as the MD and CEO of the company for a period of 5 years with effect from 17 May 2024, subject to approval of shareholders.

Futher, Vimal Agarwal has been appointed as the chief financial officer (CFO) and KMP with effect from 1 May 2024. Consequent to Agarwal’s appointment, Ram Mundra ceases to be the interim CFO and KMP of the company with effect from the close of 30 April 2024. Mundra will continue to serve the company and shall assist Vimal Agarwal during his transition.

Mahindra Holidays & Resorts India, India's leading company in the leisure hospitality industry, offers quality family holidays primarily through vacation ownership memberships. While Club Mahindra is the flagship brand, the other brands offered by the company are — Club Mahindra Fundays and Svaastha Spa.

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