Mahindra Holidays & Resorts India Ltd., a leading leisure hospitality provider, has announced its audited standalone and consolidated financial results for the fourth quarter and the full financial year ending 31st March 2026. The company reported a 7% year-on-year increase in consolidated revenue for FY26, reaching ₹3,116 crore.
In FY26, Mahindra Holidays & Resorts India Ltd. accelerated its inventory expansion strategy, adding approximately 900 keys to its portfolio. The company achieved a strong growth in resort revenue, which increased by 12% year-on-year to ₹443 crore. The occupancy rate stood at 81% on the expanded inventory base, while the average unit realisation, including upgrades, rose by 77% year-on-year to ₹10.1 lakh.
The company’s membership upgrades amounted to ₹292 crore, marking a 17% increase compared to the previous year. As of 31st March 2026, deferred revenue was ₹5,779 crore, and cash reserves stood at ₹1,446 crore.
For the fourth quarter of FY26, the company expanded its inventory by 213 keys, bringing the total to 6,228 keys. Resort revenue for the quarter increased by 11% year-on-year to ₹120 crore. The company added three new managed resorts to its network in Dapoli, Maharashtra, North Goa, and Chikkamagaluru, Karnataka, while completing expansions in three existing resorts. Resort occupancy for the quarter was 82%.
Membership upgrades for Q4FY26 saw a significant growth of 33% year-on-year, amounting to ₹93 crore. The average unit realisation, including upgrades, reached ₹14.1 lakh, an 83% increase from the previous year. The cumulative member base stood at 3,03,906.
On a standalone basis, Mahindra Holidays & Resorts India Ltd. reported a total income of ₹1,613.3 crore for FY26, a 4% increase from the previous year. EBITDA grew by 21% to ₹592.8 crore, while profit before tax (PBT) increased by 20% to ₹323 crore. The profit after tax (PAT) excluding one-offs grew by 22% to ₹240.6 crore.
On a consolidated basis, the company reported a total income of ₹3,116 crore for FY26, a 7% increase from the previous year. EBITDA rose by 5% to ₹741 crore, while PBT decreased by 28% to ₹138.7 crore. PAT excluding one-offs increased by 2% to ₹136.3 crore.
Commenting on the performance, Manoj Bhat, Managing Director and Chief Executive Officer, stated that the company continued to execute its growth strategy with network expansion and strong resort revenue growth. He also noted that international operations faced challenges due to geopolitical headwinds and economic slowdown in Finland.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).