Mahindra Holidays Reports Q4 FY26 and Full Year FY26 Financial Results
Mahindra Holidays & Resorts India Limited announced its standalone and consolidated financial results for the fourth quarter and the financial year ended March 31, 2026. The company, India's leading leisure hospitality provider, highlighted inventory expansion and robust growth in resort revenue during the period.The company reported that its annual consolidated revenue for FY26 saw a 7% increase year-over-year (YoY), accompanied by the addition of seven new managed resorts during the year.
Key Performance Highlights
For the full year ending March 31, 2026, Mahindra Holidays reported significant operational achievements:- Inventory Expansion: The company accelerated its long-term strategy with a gross addition of approximately 900 keys to its inventory.
- Resort Revenue: Resort revenue grew by 12% YoY, reaching Rs 443 Cr.
- Utilization: Occupancy remained strong at 81% across the expanded inventory base.
- Average Unit Realisation (AUR): AUR, including upgrades, rose 77% YoY to Rs 10.1L.
- Membership Growth: Membership upgrades contributed Rs 292 Cr, marking a 17% YoY increase.
- Financial Position: As of March 31, 2026, Deferred Revenue stood at Rs. 5,779 Cr, and cash reserves were Rs. 1,446 Cr.
During the fourth quarter of FY26, the network further expanded, adding 213 keys, bringing the total inventory to 6228 keys. The company added three new managed resorts in Dapoli, Maharashtra, North Goa, and Chikkamagaluru, Karnataka, alongside completing expansions in three existing resorts. Resort occupancy for Q4 FY26 was 82%. Membership upgrades for the quarter grew 33% YoY, reaching Rs 93 Cr, with the Average Unit Realisation (AUR) including upgrades hitting Rs 14.1L, marking an 83% YoY jump. The cumulative member base reached 3,03,906.
Financial Performance Overview
The financial results for Q4 FY26 and the full year FY26 demonstrate the company's operational trajectory.Mahindra Holidays Standalone Financial Results (Rs Cr)
| Particulars | Q4 FY26 | Q4 FY25 | YoY Change |
|---|---|---|---|
| Total Income | 407 | 398 | 2% |
| EBITDA | 142.1 | 131.7 | 8% |
| PBT* | 75.2 | 75.8 | -1% |
| PAT* | 55.4 | 57.4 | -3% |
| PAT excl. one offs # | 55.1 | 57.2 | -4% |
Mahindra Holidays Standalone Results (Rs Cr)
| Particulars | FY26 | FY25 | YoY Change |
|---|---|---|---|
| [Top Line Figure] | 1613.3 | 1544.9 | 4% |
| [Mid Line Figure] | 592.8 | 491.8 | 21% |
| [Third Line Figure] | 323 | 269.6 | 20% |
| [Fourth Line Figure] | 238.3 | 200.5 | 19% |
| [Bottom Line Figure] | 240.6 | 196.7 | 22% |
Mahindra Holidays Consolidated Financial Results (Rs Cr)
| Particulars | Q4 FY26 | Q4 FY25 | YoY Change |
|---|---|---|---|
| Total Income | 844 | 807.1 | 5% |
| EBITDA | 220.9 | 232.7 | -5% |
| PBT | 65.3 | 102.4 | -36% |
| PAT | 41.5 | 72.9 | -43% |
| PAT excl. one-offs # | 52.3 | 85 | -38% |
Mahindra Holidays Consolidated Results (Rs Cr)
| Particulars | FY26 | FY25 | YoY Change |
|---|---|---|---|
| [Top Line Figure] | 3116 | 2909.8 | 7% |
| [Mid Line Figure] | 741 | 707.8 | 5% |
| [Third Line Figure] | 138.7 | 192.5 | -28% |
| [Bottom Line Figure] | 67 | 125.9 | -47% |
Management Commentary
Commenting on the performance, Manoj Bhat, Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India Ltd., stated that the company continued executing its growth strategy across its Indian business. He noted that the network expansion, coupled with enhanced quality, was accelerated by the addition of seven new managed resorts during the year. He added that resort revenue maintained its double-digit growth trajectory, while utilization was sustained at over 80%.Mr. Bhat highlighted the robust growth in upgrades, driven by a strong reception of the new product KEYSTONE, leading to higher average unit sales realization in the current quarter. Furthermore, he stated that the standalone profit excluding one-offs for FY26 grew by 22%, and the margin expanded by 220 basis points.
The CEO also acknowledged challenges in the international sector, citing impact from geopolitical headwinds, a slowdown in the Finnish economy, and adverse weather conditions throughout the year. He also noted that the company recorded one-time impacts in FY26 due to the labor code implementation in India and forex losses resulting from the depreciation of the rupee in its international operations. The management team remains focused on improving the operating performance of international operations in the coming quarters.
MHRIL Stock Price Movement
As of 3:16 PM, shares of Mahindra Holidays & Resorts India Limited are edging higher to ₹261.43, having gained 1.05% in live trading. The stock is currently fueled by strong institutional buying, with the equity moving amid a robust traded volume of 432,876 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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