Q3 2025 Mahindra Holidays and Resorts India Ltd Earnings Call Transcript
Key Points
- Mahindra Holidays & Resorts India Ltd (BOM:533088) reported a robust demand for vacation experiences, with occupancy rates reaching above 80% in new destinations.
- The company achieved a 17% growth in EBITDA after adjusting for one-time items, indicating strong operational performance.
- Resort revenue grew by 12% year-over-year, driven by expanded inventory and high occupancy rates.
- The company added 206 keys this quarter, progressing towards its goal of 10,000 keys by 2030.
- Mahindra Holidays & Resorts India Ltd (BOM:533088) has enhanced its sustainability efforts, with solar energy now powering 32 resorts and seven new resorts achieving net zero waste to landfill status.
- Member additions slowed down compared to the previous year, with only 3,000 net new members added this quarter.
- The European operations, particularly in Finland, continue to face challenges due to economic conditions and geopolitical factors.
- The company experienced fluctuations in ForEx and tax adjustments, impacting financial results.
- Despite a strong quarter, the company anticipates that the Average Unit Revenue (AUR) may have peaked, potentially limiting future revenue growth.
- There is a noted discrepancy between the market's valuation of the company and its asset value, raising concerns about market perception.
Ladies and gentlemen, good day, and welcome to the Q3 nine months FY25 earnings conference call of Mahindra Holidays & Resorts India Limited. (Operator instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Manoj Bhat, the Managing Director and CEO. Thank you, and over to you, sir.
Thank you. Thank you. Good evening, everyone, and a very warm welcome to our quarter earnings call. On the call with me today, I have Mr. Vimal Agarwal, our CFO.
We have already posted our quarterly results and investor presentation on the stock exchanges and our company website. So I hope you had a chance to go through it. In any case, we will explain the key numbers and some of the key trends in a short introduction before we go to the Q&A.
So firstly, on the demand side, if you see, I think the demand side continues to be robust. I think if you look at industry level ADRs they are
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