Mahindra Holidays & Resorts India Ltd
Mahindra Holidays & Resorts India Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management said on revenue, margins and capex.
The short version
Revenue growth has historically been mid- to high single-digit but is expected to accelerate. The company is on track to achieve its target of 10,000 keys by FY '30, signaling strong future growth in inventory and revenue potential.
From Mahindra Holidays & Resorts India Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- Revenue growth has historically been mid- to high single-digit but is expected to accelerate.
- Member addition growth will be a key driver as cost of acquisition targets are reached.
- Expansion of inventory is attracting significant interest from non-members, creating new revenue streams.
- A long-term focus on curated family experiences is expected to generate additional revenue.
- Diversifying revenue sources beyond member additions is a strategic priority.
- Room additions are on track for strong double-digit growth toward the 10,000-room target by FY '30.
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Profitability & Margins
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Capital Expenditure Plans
- The company is targeting 10,000 keys by FY '30 and is on track to achieve this goal with a strong pipeline.
- For the current year, the company plans to add around 1,000 keys at the gross level, with some key exits also planned.
- Most room additions this year will come from leased properties, aligning with the company’s shift towards a capital-light model.
- Two Greenfield projects are expected to go live next year: near Ganpatipule and in Theog.
- Plans are underway to start work on three new Greenfield projects and a fourth project is lined up.
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Order Book & Pipeline
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Mahindra Holidays & Resorts India Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹784 Cr, net profit ₹20 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Mahindra Holiday's management said in earlier quarters
- Q2 FY27 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q1 FY26 earnings call analysis →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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Frequently Asked Questions
What were Mahindra Holidays & Resorts India Ltd Q2 FY26 results?
Revenue growth has historically been mid- to high single-digit but is expected to accelerate. The company is on track to achieve its target of 10,000 keys by FY '30, signaling strong future growth in inventory and revenue potential.
What is Mahindra Holidays & Resorts India Ltd share price analysis?
Mahindra Holidays & Resorts India Ltd currently shows a neutral. The stock trades at a P/E of 86.8 with a market cap of ₹4,061 Cr. Investors should review the full earnings analysis for detailed insights.
Is Mahindra Holidays & Resorts India Ltd planning capital expenditure?
The company is targeting 10,000 keys by FY '30 and is on track to achieve this goal with a strong pipeline.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.