Q4 2026 Mahindra Holidays and Resorts India Ltd Earnings Call Transcript

Apr 27, 2026 / 12:30 PM GMT

Release Date Price: ₹253.95 (-1.84%)

Transcript

Key Points

Positve

Mahindra Holidays & Resorts India Ltd (BOM:533088) added 900 keys, the highest ever in its history, with plans to add more than 1,000 keys in F27.
The company launched a new privilege-led product portfolio called Keystone, aligning with its vision to scale its core business.
There was a 33% year-on-year increase in member upgrades, indicating strong member engagement.
The company achieved a strong utilization rate of about 80% and double-digit resort revenue growth.
Despite the LPG crisis, the company maintained its F&B offerings due to its investment in electrification and solar power.

Negative

The European subsidiary faced challenges due to adverse weather conditions in Finland, impacting visitor numbers.
There was a significant impairment charge of Rs. 234 crores due to geopolitical and economic conditions in Finland.
High credit rejections affected new sales, although efforts are being made to onboard other banks and partners.
The company faces ongoing challenges in its international operations, particularly in Finland, due to geopolitical and economic headwinds.
The launch of the signature resorts has been delayed to F28, indicating potential project management challenges.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MAHH.NS - Mahindra Holidays and Resorts India Ltd
Q4 2026 Mahindra Holidays and Resorts India Ltd Earnings Call
Apr 27, 2026 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and Gentlemen, Good day and welcome to Mahindra Holidays & Resort India Limited Q4 FY26 Earnings Conference Call.

As a reminder, all participant lines will be in the lesson-only mode and there will be an opportunity for you to ask questions after the presentation concludes.

Should you need assistance during the conference call, please signal an operator by pressing *10 on your touchtone phone.

Please note that this conference is being recorded.

I now hand the conference over to Mr. Manoj Bhatt, MD and CEO.

Thank you and over to you, sir.

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