Mahindra Holidays & Resorts India Ltd

In the earnings call for Q2 FY '27, Mahindra Holidays & Resorts India Limited (MHRIL) reported progress on its strategy to enhance guest experience and expand its luxury leisure offerings. The company noted a 6% year-on-year growth in total sales value, including upgrades, to INR141 crores, with upgrades increasing by 26% to INR83 crores. Average unit realization (AUR) rose 43% to INR13.4 lakhs. Membership additions were driven by organic and digital channels, contributing 66% of new members. The company transformed 2 existing resorts and has 5 more underway, exiting 6 underperforming resorts, reducing the network to 5,762 keys across 106 resorts. Occupancy increased by 220 basis points to 75.6%, and resort revenue grew 15%, the highest in 8 quarters. TRevPAR rose 6% YoY to INR8,777. Capital expenditure for H1 was INR312 crores, up sharply from INR166 crores a year ago, supporting resort transformations and new inventory. The company aims to reach 10,000 keys by FY30, with 85% of the target currently visible. Management emphasized ongoing focus on portfolio rationalization, operational efficiency, and expanding the luxury segment. The consolidated PAT grew 17% YoY to INR19.7 crores. The company also discussed challenges in HCRO due to the Finnish economic environment but noted potential for improvement in future quarters. Deferred revenue stood at INR5,828 crores, with cash reserves at INR1,329 crores.

The document highlights growth in sales, upgrades, AUR, occupancy, and revenue, along with strategic progress and capital investments, indicating a positive tone.