Mahindra Holidays & Resorts India announced Q2FY24 results: 1. Operational Highlights (Standalone) - Q2 FY24: - Highest ever Q2 member additions at 4,881, up by 11% YoY. - Membership sales value at Rs. 192 crores, up by 13% YoY. - Highest ever Q2 upgrades at Rs. 47 crores, up by 15% YoY. - Cumulative member base grows to 2,89,688, with 85% of the member base fully paid. - Resort income at Rs. 70 crores, a 4% increase YoY. - New greenfield project construction commenced at Theog, Himachal Pradesh. 2. Financial Highlights - Standalone Q2 FY24 (excl. one-offs): - Total income at Rs. 333 crores, a 10% increase YoY. - EBITDA at Rs. 99 crores, a 17% increase YoY. - PBT at Rs. 49 crores, a 15% increase YoY. - Cash position at Rs. 1,176 crores as of September 30, 2023. 3. Financial Highlights - Consolidated Q2 FY24 (excl. one-offs): - Total income at Rs. 675.8 crores, a 10% increase YoY. - EBITDA at Rs. 149.7 crores, a 10% increase YoY. - PBT at Rs. 32.2 crores. 4. Operational Highlights - European Operations: - Despite ongoing geo-political crisis, HCR delivers robust performance. - Significant operating profit achieved due to summer holiday season and improved domestic travel in Finland. Kavinder Singh, Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India Ltd.: "Our sustained focus on delivering superlative member experiences & acceleration in member additions is reflected in the strong performance with the highest ever second-quarter total income, EBITDA, and PBT. Despite heavy rainfall & landslides affecting resort occupancies in North India, we have delivered the highest-ever resort income in Q2. In line with our strategic objective of rapidly expanding the room inventory, we have commenced a new greenfield resort project this quarter, and with this currently, we have 5 projects/ 690 keys underway with an estimated capex of ~Rs 835 Crs." Result PDF
Hotels company Mahindra Holidays & Resorts India announced Q1FY24 results: Consolidated Q1FY24: Total Income at Rs 646.9 crore EBITDA at Rs 120.4 crore EBITDA Margin at 18.6%. PBT at Rs 7.6 crore Standalone Q1FY24: Highest Ever Total Income at Rs 355 crore (+17% YoY) Highest Ever Resort Income at Rs 92 crore (+10% YoY) Highest Ever EBITDA at Rs 101 crore (+19% YoY); EBITDA Margin at 28.3% Highest Ever PBT (first quarter) at Rs 55 crore (+19% YoY); PBT Margin at 15.4% Cash Position at Rs 1,136 crore as on 30th June'23. Commenting on the performance, Kavinder Singh, Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India, said, "90%+ occupancy on an expanded inventory base of ~5,000 rooms has helped us achieve the highest ever Resort Income this quarter. Member additions are up by 23% over the same period last year. We continue to work towards our strategic objective of rapidly expanding our room inventory in line with our growing member base while adding new immersive experiences at our resorts." Commenting on the European operations, he added, "Despite the ongoing geopolitical crisis which has raised the inflation levels & interest rates, timeshare business has performed well. However, Spa hotels were affected by lower occupancies, Q1 traditionally being a low-season quarter. The holiday season has started well from mid-June onwards, and Q2 performance is expected to be better." Result PDF