As part of the Leisure and Hospitality sector of the Mahindra Group, Mahindra Holidays & Resorts India Ltd. (MHRIL) primarily offers family holidays by providing vacation ownership memberships. The company’s flagship brand ‘Club Mahindra’, was started in 1996 and has 250,000+ members.
Financial Results:
Mahindra Holidays & Resorts India increased by 2.87 percent to INR 260.20 right after the company’s standalone net profit mark upped 74.5 percent to INR 62.78 crore on a 17.9 percent rise in net sales to INR 315.05 crore in the third quarter of December 2022 over the third quarter of December 2021.
During this quarter, the cash position stood at INR 1,089 crore, which is an increase of around INR 71 crore. Resort income was up by 30 percent YoY at INR 91 crore and higher occupancy and member spends were the catalysts.