Looking to maintain double-digit consolidated profit growth in FY26: Mahindra Holidays & Resorts India CEO
The company, which plans to add about 1,000 rooms this fiscal as part of its overall target of increasing its key count to 10,000 by FY30, is on track with inventory additions, Bhat told PTI.
Explore courses from Top Institutes in
Please select course:
Select a Course Category
Design Thinking
Data Science
Operations Management
MCA
Technology
Leadership
PGDM
Cybersecurity
Management
CXO
Public Policy
Project Management
Healthcare
Artificial Intelligence
healthcare
others
MBA
Degree
Digital Marketing
Finance
Others
Product Management
Data Science
Data Analytics
Skills you'll gain:
Duration:
25 Weeks
IIM Kozhikode
CERT-IIMK PCP DTIM Async India
Starts on
undefined
Get Details
Skills you'll gain:
Duration:
22 Weeks
IIM Indore
CERT-IIMI DTAI Async India
Starts on
undefined
Get Details
"If you look at the consolidated profit growth of 18 per cent in Q1, I think that would be our target. In that range, we will look at growing our profits through the course of the year," he said when asked for the outlook for the remaining part of the fiscal year.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Play War Thunder now for free
War Thunder
Play Now
Undo
In the first quarter, Mahindra Holidays & Resorts India Ltd (MHRIL) had posted a
consolidated profit after tax
of Rs 7.2 crore against Rs 6.1 crore in the year-ago period, up 18 per cent.
Its total income increased 8 per cent to Rs 740.2 crore compared to Rs 686.1 crore in the corresponding period of the preceding fiscal.
Live Events
In the first quarter, Indian operations continued to do well, and the "international operation is stable" but not "completely out of the woods", Bhat said.
On the company's
room additions
, Bhat said, "Our
inventory addition plans
are also on track...most of the additions will probably come in the second half of the fiscal or later in the second quarter".
In January this year, Bhat stated that MHRIL will be adding 1,000 rooms by March 2026.
"We are well on track for that. We will be adding quite a few resorts, about four in Maharashtra, one each in Goa, Rajasthan, and Madhya Pradesh...We have started work, in addition, in Puducherry," he noted.
As per the company's investor presentation for the quarter ended June 30, 2025, MHRIL has a cumulative base of 5,794 keys.
It has two greenfield projects currently underway -- a 236-key resort at Ganpatipule in Maharashtra and another 157-key property at Theog in Himachal Pradesh.
The company also has three brownfield projects -- a 102-room property at Kandaghat in Himachal Pradesh, another 39-key property, Treehouse at Jaipur and another 62-key resort in Puducherry.
As of June 30, 2025, the company has 126 resorts across India and abroad.
Its Finnish subsidiary, Holiday Club Resorts Oy (HCR), has 33 timeshare properties, including nine spa resorts in Finland, Sweden and Spain.
When asked about membership addition, Bhat said the company added about 3,000 members in the first quarter and will look to maintain the pace through the year.
On the company's European operations, he said that with the Finnish economy not doing too well, coupled with Ukraine-Russia war, and uncertainty over tariffs in the near term, not much of a change is expected.
"As I said, if it is stable, we think that that's good," Bhat noted.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
19 minutes ago
- Business Standard
Govt urges BSNL circles to boost service quality, fix tower power issues
Minister of state for telecom Chandra Sekhar Pemmsani on Friday asked four BSNL circles including UP and Bihar to improve quality of service, resolve tower power issues and take other measures to boost the company's presence. In July last week, Union telecom minister Jyotiraditya Scindia had asked the state-run telecom firm to add customers and grow its mobile service business by 50 per cent in the next year. During a review meeting of BSNL of all circle and business unit heads, the minister asked each unit to increase enterprise business by 25-30 per cent and fixed line business by a minimum of 15-20 per cent. "Reviewed @BSNLCorporate performance of UP, Bihar, MP & West Bengal circles today. Emphasised improving quality of service, resolving tower power issues, timely rectification of fibre cuts, and adopting innovative, locally-suited sales & marketing strategies to strengthen BSNL's footprint," Pemmasani said on social media platform X. The government has pumped in over Rs 3 lakh in the last six years to revive the company. BSNL has posted net profit in two consecutive quarters after a gap of 18 years. The state-run firm had posted a profit of Rs 280 crore in the March quarter of FY25 against a loss of Rs 849 crore in the year-ago period. The company had posted a profit after tax of Rs 262 crore in the October-December period of the previous fiscal year. However, the company has been continuously seeing decline in customer base mainly due to service quality issues. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
&w=3840&q=100)
Business Standard
19 minutes ago
- Business Standard
Govt aims to accelerate pace of highway construction to 100 km/day: Gadkari
Union Road Transport and Highways Minister Nitin Gadkari on Friday said the government's aim is to accelerate the pace of highway construction to 100 km a day from 38 km/day at present. Speaking at the Business Today India@100 event, Gadkari said so far this year, the road ministry has awarded highways projects worth ₹2.5 lakh crore, and by March next year, it will award highways projects worth ₹10 lakh crore. "Currently, the pace of National Highways construction in India is 38 km/day. We aim to accelerate the pace of highway construction to 100 km a day. This is our target, whether it will happen next year, I can not say," he said. The ministry constructed 10,660 km of national highways in 2024-25, 12,349 km in 2023-24 and 10,331 km in 2022-23. Responding to the growing concern over social media about E20, rolled out by the government, is damaging the vehicle and there is no reduction in fuel cost, Gadkari rejected the claim, saying that the petroleum sector is lobbying against this move. "I challenge, if anyone has faced difficulty in his vehicle on account of mixing of ethanol in petrol," Gadkari, who is known for his frank views, said. The minister further said that Pune-based Automotive Research Association of India (ARAI) conducts trials and comes up with reports before the government takes a call on ethanol blending. Currently, Indian vehicles can run on E20 petrol with minor changes to the engine to prevent corrosion and other issues. In 2023, Prime Minister Narendra Modi launched petrol blended with 20 per cent ethanol. The Indian government will introduce guidelines for 27 per cent ethanol blending in petrol by the end of August. Ethanol, which can be produced from sugarcane, broken rice and other agricultural products, is expected to help reduce India's dependence on foreign oil. India is currently the world's third-largest oil consumer and imports about 88 per cent of its crude oil requirements, making it vulnerable to geopolitical vagaries that can impact crude prices. Gadkari reiterated that his aim is to make India's automobile industry number one in the world. The size of the Indian automobile industry is now ₹22 lakh crore. Presently, the size of the US automobile industry is ₹78 lakh crore, followed by China (₹47 lakh crore) and India (₹22 lakh crore). According to the minister, the automobile industry has created 4.5 crore jobs till now -- the highest in the country. Gadkari also said the days are not far away when prices of electric vehicles (EVs) will be less than those of petrol vehicles in the country within six months. The minister also said India's logistics cost will come down to 9 per cent by December this year. In China, the logistics cost is 8 per cent, and in the US and European countries, it is 12 per cent, the minister said. Gadkari also emphasised the need to increase the productivity of the agriculture sector. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
&w=3840&q=100)
Business Standard
19 minutes ago
- Business Standard
India must not yield to US pressure in trade talks: Amitabh Kant
India should never lose its strategic autonomy, never yield to pressure while negotiating trade deals with the US, former G20 Sherpa Amitabh Kant said on Friday, while suggesting that the country should look at a long-term perspective and behave in a calm and collected manner. Speaking at the Business Today India@100 event, Kant said India should use trade-related uncertainties as a unique opportunity to carry out very vigorous reforms in the economy. "We still have 20 days for these (US) tariffs to kick in. We should never yield to pressure, but we should negotiate in a very rational manner, in a sensible manner, and I think there is plenty of time to be able to arrive at an agreement," he said. On August 6, the United States announced an additional 25 per cent tariff on all Indian imports, on top of an existing 25 per cent duty, taking the total duty to 50 per cent effective August 27. The White House said the measure was in response to India's continued purchase of Russian oil. "My view is that we should never lose our strategic autonomy. We have never lost that strategic autonomy, even during the Cold War period. "And India should never bend, but we should behave in a very cool, calm and collected manner, as is being done at present. And we should look at a long-term perspective on this," Kant said. The former NITI Aayog CEO also said there is a critical need to simplify the goods and services tax (GST) regime and eliminate unnecessary rules and procedures -- especially at the state level. "Even startups are taking too long just to register. My key message: no rules, no policies, no laws more than two pages," he said. Kant also pitched for radically improving the personal income tax on which a lot of work has already been done. US President Donald Trump's "dead economy" jibe, he said India is anything but a dead economy because India is the fastest-growing large economy. "We are the fourth largest economy in the world. "We will shortly be the third largest economy in the world, more than anything else, India has carried out very major structural reforms in its economy," Kant said. Kant suggested that the government should give a massive thrust to travel and tourism, because it is tariff proof. "We should be getting tourists from abroad, because... there is no tariff," he pointed out. Noting that India is bigger than 24 countries of Europe, Kant said every state of India must have its brand and every state must push for tourism. Kant emphasised that India needs just 12 champion states growing at 10 per cent to lift national growth to 9 per cent. "You already have growth coming from the south and west. Now the opportunity lies in the east... These are mineral-rich states. There's no reason they should not be growing at 9-10 per cent per annum," he said.
