Q1 2025 Mahindra Holidays and Resorts India Ltd Earnings Call Transcript
Key Points
- Mahindra Holidays & Resorts India Ltd (BOM:533088) reported a robust profit growth of 19%, reaching INR45 crores, with margins expanding by 110 basis points.
- The company added 3,692 new members, crossing the milestone of 3 lakh memberships.
- Resort occupancy remained stable at 90%, even with a higher inventory base, indicating strong demand.
- The company is on track to achieve its goal of 10,000 rooms by FY30, with a mix of greenfield developments and capital-light strategies.
- Significant progress in ESG initiatives, including six new resorts becoming net zero waste to landfill and 10 new Green Resorts achieving platinum certification.
- Membership additions declined by 21% year-on-year, attributed to a focus on higher Average Unit Realizations (AUR).
- Resort income growth slowed to 2% on a standalone basis, raising concerns about the ability to optimize further.
- The European subsidiary, HCRO, continues to face challenges due to economic constraints and the impact of the Russia-Ukraine war.
- The company anticipates an increase in member retirals, which could impact overall membership growth.
- There are concerns about the return on investment from the HCRO acquisition, with shareholders questioning its long-term viability.
Ladies and gentlemen, good day, and welcome to Mahindra Holidays & Resorts India Limited Q1 FY25 earnings conference call. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. (Operator Instructions)
Please note that this conference is being recorded. I now hand the conference over to Mr. Manoj Bhat, MD & CEO. Thank you and over to you, sir.
Thank you. Good evening, everyone, and very warm welcome to our Q1 call. I think as we go into the call today, I have Mr. Vimal Agarwal -- our CFO and other members of our management team are available for any questions that if needed. Obviously, you can find our quarterly results and investor presentation on our website and also on the stock exchanges.
I'm assuming some of you have gone through it. I'm going to touch upon a few highlights and then Vimal is going to talk
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