Mahindra Holidays & Resorts India Limited, which operates the Club Mahindra brand, reported a 16.4% year-on-year (YoY) increase in consolidated net profit to ₹19.72 crore for the second quarter of FY27, compared with ₹16.94 crore in Q2 FY26.
The company’s consolidated revenue from operations increased 9.3% YoY to ₹784.13 crore, against ₹717.34 crore in the corresponding quarter last year. Consolidated total income stood at ₹819.68 crore during the quarter, supported by growth in its hospitality business.
Mahindra Holidays Q2 Results : Key Financial Highlights
Consolidated results
- Revenue from operations: ₹784.13 crore, up 9.3% YoY.
- Net profit (PAT): ₹19.72 crore, up 16.4% YoY.
- Total income: ₹819.68 crore.
- EBITDA: ₹159.43 crore, compared with ₹152.86 crore in Q2 FY26.
- EBITDA margin: 20.33%, compared with 21.3% in the year-ago quarter.
- Profit before tax (PBT): ₹34.1 crore, compared with ₹35.5 crore in Q2 FY26.
The results show that consolidated revenue and net profit increased year-on-year. However, the EBITDA margin declined, indicating some pressure on operating profitability.
Revenue Growth and Hospitality Business
Mahindra Holidays operates vacation ownership and leisure hospitality businesses under the Club Mahindra brand. Its resorts offer holiday experiences to members and other guests.
During Q2 FY27, consolidated revenue from operations rose to ₹784.13 crore from ₹717.34 crore in the same quarter last year. The growth reflects higher business income during the quarter.
The company also reported continued growth in its domestic business, with resort revenue recording double-digit growth, according to its reported operational highlights.
EBITDA and Profitability Performance
Consolidated EBITDA increased to ₹159.43 crore from ₹152.86 crore in Q2 FY26, representing growth of approximately 4.3%.
However, the EBITDA margin declined to 20.33% from 21.3% a year earlier. Consolidated profit before tax also decreased to ₹34.1 crore from ₹35.5 crore.
This indicates that although revenue and net profit improved, operating margins and profit before tax remained under pressure.
Standalone Results: Net Profit Declines 16%
Mahindra Holidays’ standalone performance differed from its consolidated results.
- Total income: ₹395.3 crore, up approximately 4% YoY from ₹380.7 crore.
- EBITDA: ₹124.4 crore, down approximately 12% YoY from ₹140.5 crore.
- Net profit: ₹43.3 crore, down approximately 16% YoY from ₹51.7 crore.
- EBITDA margin: 31.5%, compared with 36.9% in Q2 FY26.
The decline in standalone profit was linked to higher operating expenses, including employee benefit costs and other expenses. This contrast highlights why consolidated and standalone results should be considered separately when assessing the company’s performance.
Resort Expansion and Membership Sales
The company continued to focus on improving its resort portfolio and growing membership-related revenue. During the quarter, sales reached ₹141 crore, up 6% YoY. Membership upgrades contributed ₹83 crore, an increase of 26% year-on-year.
The company also expanded two resorts and transformed two existing properties during the quarter. It plans to add around 1,000 keys over the next two quarters as part of its longer-term goal of reaching 10,000 keys by FY30.
These initiatives could support future growth, although their impact will depend on demand, operating costs and the pace of expansion.
What Do Mahindra Holidays’ Q2 Results Indicate?
Mahindra Holidays delivered growth in consolidated revenue and net profit in Q2 FY27. However, the decline in EBITDA margin and standalone profitability shows that cost management remains important.
Investors will likely monitor resort revenue growth, membership upgrades, occupancy, new room capacity and the company’s ability to improve profitability as its hospitality business expands.
Source: Mahindra Holidays & Resorts India Limited’s unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026. Official quarterly financial results.
Disclaimer: This article is for informational and educational purposes only. It is not investment advice or a recommendation to buy or sell any security. Investors should review official company filings and consider their own financial objectives before making investment decisions.
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