Mahindra Holidays

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Here are 5 stock ideas for September 2024 based on the 'Buy' signal on the technical momentum indicator - the MACD (Moving Average Convergence-Divergence).

Mahindra Holidays gets GST notice of Rs 16.77 cr for excess ITC utilisation

Mahindra Holidays & Resorts India on Wednesday said tax authorities have slapped a demand notice of about Rs 16.77 crore, including a penalty. "We wish to inform you that the company has received an Order dated August 13, 2024, from the Assistant Commissioner, Anna Salai, Chennai Central, Tamil Nadu," Mahindra Holidays & Resorts India Ltd said in a regulatory filing. The company is taking appropriate steps to pursue legal remedies before the appropriate authority in this regard, it added. "The Company has received an Order from the Authority for FY2019-20 requiring the Company to pay a demand of Rs 16,76,61,092 (including a penalty of Rs 88,81,479) under applicable provisions of the TN GST Act, 2017 & CGST Act, 2017. "The Order has been passed primarily on account of GST on Other Incomes, Reverse Charge Mechanism on Other Expenses, Excess utilisation of ITC, Reversal of ITC on exempt supplies, etc.," Mahindra Holidays & Resorts India Ltd said in the filing. The ...

Mahindra Holidays & Resorts expects 85% occupancy this fiscal: MD & CEO

Mahindra Holidays & Resorts India Ltd expects occupancy levels for the ongoing fiscal to be around 85 per cent on the back of steady demand from its members with a rising trend of shorter holidays, according to its Managing Director and CEO Manoj Bhat. The company, which witnessed 90 per cent resort occupancy on an expanded inventory base in the first quarter of this fiscal, expects it to be softer in the second quarter. "Q1 is a peak quarter. Q2 will dip, Q3 will climb again. So it's a bit seasonal, but overall for the year, we expect around 85 per cent kind of occupancy," Bhat told PTI when asked about how the occupancy level is expected in the fiscal. He said factors like the extreme heatwave this summer coupled with the general elections that impacted the wider hospitality industry were not much of an issue for Mahindra Holidays & Resorts India. "For us, that is not so much a factor because for us there is steady member demand across the season," Bhat said, adding the ...

Mahindra Holidays Q1FY25 results: Pre-tax profit rises to Rs 14 cr

Travel demand has rebounded strongly from the pandemic lows, benefiting companies from airlines to hotel operators

Mahindra Holidays & Resorts Q4 results: PAT jumps 47.7% to Rs 83.2 cr

Mahindra Holidays & Resorts India Ltd on Friday reported a 47.7 per cent rise in consolidated profit after tax of Rs 83.2 crore for the March 2024 quarter against Rs 56.3 crore a year ago. For the entire 2023-24, the company reported a consolidated profit after tax of Rs 116.05 crore against Rs 113.82 crore in the preceding fiscal, according to a regulatory filing. During the January-March quarter, Mahindra Holidays & Resorts India Ltd reported a total income of Rs 830.34 crore compared to Rs 735.26 crore a year ago. Its total expenses during the quarter under review rose to Rs 720.86 crore from Rs 658.23 crore in the January-March period of the previous year. The company said it has recorded robust member additions at 20,019 during 2023-24, up 15 per cent year-on-year. The company's shares closed at 434.10 apiece, up 1.99 per cent from their previous close on the BSE.

Indian Hotels stock falls 5% post Q4 results; peer group shares rise

Indian Hotels stock update: Share price declined 5% day after company reported 29% growth in net profit.

Mahindra Holidays to invest Rs 4,500 cr to double room capacity to 10,000

Mahindra Holidays & Resorts India Ltd (MHRIL) plans to invest up to Rs 4,500 crore in the next three to four years to double its room capacity to 10,000, according to company Managing Director and CEO, Kavinder Singh. The company is actively pursuing partnerships with state governments besides setting up new resorts, brownfield expansion and acquisitions to achieve the target to increase room count from 5,000 to 10,000 by FY30. "We have all the strategies on the table to get from 5,000 to 10,000 rooms. We are well on our way there," Singh told PTI. At the moment, about Rs 835 crore of investment is underway for five greenfield, brownfield, and acquisition projects, comprising about 690 keys. "We are very confident this investment will get scaled to at least Rs 2,000 crore in the next year and very quickly we will scale it up to Rs 4,000-4,500 crore in three to four years time because you need to deliver 5,000 keys by 2030," he said. On the strategy for expansion, Singh said apart

Mahindra Group appoints Amarjyoti Barua as group chief financial officer

Mahindra Group on Friday announced the appointment of Amarjyoti Barua as its Group Chief Financial Officer with effect from May 17 this year. He will be replacing Manoj Bhatt, who is appointed as Managing Director and CEO of Mahindra Holidays & Resorts India Ltd (MHRIL) succeeding Kavinder Singh, the company said in a statement. The change of guard at MHRIL comes following Singh's resignation, according to Mahindra Group. Appointments of Barua and Bhatt are effective from May 17. Currently, Barua is serving as Executive Vice President for Group Strategy. "Talent Development is a key priority at the Mahindra Group, which has enabled us to attract and retain top talent. In addition to world-class development programs, we have mapped career paths for each leader, which include experience across multiple roles," Anish Shah, Group CEO and Managing Director of M&M, said. The company also said, Vimal Agarwal, CFO of Mahindra Lifespaces Developers Ltd (MLDL), will move as CFO for ...

Mahindra announces key leadership appointments, top management reshuffle

Kavinder Singh, MD and CEO of Mahindra Holidays & Resorts India Limited (MHRIL) will complete his tenure with the Group on May 16, 2024

Mahindra Holidays & Resorts to invest Rs 800 cr to set up 3 resorts in TN

Mahindra Holidays & Resorts India Ltd on Thursday said it will invest Rs 800 crore in Tamil Nadu to build three greenfield resorts over the next five to six years. The company has signed an MOU with the Tamil Nadu government for the same, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a statement. It will directly generate employment opportunities for over 1,500 people, thereby contributing to the overall economy of the state, it added. "With this significant investment, MHRIL will double its footprint in Tamil Nadu, with Club Mahindra already operating resorts in Ooty and Kodaikanal," the company said. This would be the second-largest investment by MHRIL, following the Rs 1,000 crore investment in Uttarakhand last year. These investments are part of the company's expansion plans to increase room inventory from 5,000 to 10,000 by 2030, the statement said. Further, MHRIL said as part of its commitment to sustainability and aim to achieve carbon neutrality by 2040, all ...

Mahindra Holidays Q2FY24 result: Profit dips 48% to Rs 21 cr; income up 7%

As compared to Rs 0.89 crore in Q1FY24, the net profit was up 2307.86 per cent

Mahindra Holidays signs pact with U'khand govt to invest Rs 1,000 crore

Leisure hospitality company Mahindra Holidays & Resorts (MHRIL) on Thursday said it has inked an agreement with the Uttarakhand government to invest Rs 1,000 crore and build 4-5 large marquee resorts over the next few years in the state. This is the company's biggest investment in any state and part of its plans to expand to 10,000 keys from the current 5,000 keys by 2030, the company said in a statement. "Mahindra Holidays & Resorts (MHRIL), India's leading vacation ownership and leisure hospitality company under the flagship brand Club Mahindra, has signed an MOU today with the Government of Uttarakhand (UK) to invest Rs 1,000 crore and build 4-5 large marquee resorts over the next few years in Uttarakhand," it said. This investment will more than double the company's footprint in Uttarakhand, with Club Mahindra already operating resorts in Jim Corbett, Mussoorie, Kanatal and Binsar, according to the statement. "We see a huge opportunity in Uttarakhand, and our planned ...

Hotel stocks have more room for an upside; buy selectively: Analysts

The move to demerge the hotel business into a separate entity by ITC has brought back focus on hotel stocks, which have already seen a good run thus far in FY24.

Mahindra Holidays looks to take on titans with new resort venture

Plans to double room inventory to 10,000 units by 2030

Room rates, occupancy surpass pre-Covid levels for hotels, says report

Mahindra Holidays is aggressively expanding its inventory by acquiring properties and creating more resorts

IHCL, Kamat: Hotel stocks at 52-week high; check out the trading strategies

Shares of Kamat Hotels India are on the course to double this year, while Royal Orchid Hotels and Oriental Hotels have both gained 30 per cent each.

Mahindra Holidays Q4 profit rises on higher occupancy, membership

Shares of the company jumped 5.3% after the results, and closed 3.4% higher

Mahindra Resorts to invest Rs 1,800 cr, to add 2,100 rooms in 5-6 years

Mahindra Holidays & Resorts, the only listed entity in the membership-driven holiday segment, will add 2,100 more rooms in the next five to six years with an investment of around Rs 1,800 crore, according to a top company official. The company, better known as Club Mahindra, runs 119 properties, of which 74 are in the home market, 33 in Finland, Sweden and Spain being run under the banner of Holiday Club which it bought some years back. It also has 12 properties in the Middle East and South Asian markets. At present, the company has 4,900 keys inventory. The company has a customer base -- all club members and most of them having 25-year memberships -- of 2.8 lakh as of December 2022. The membership fee is the biggest revenue stream for the company, which is a debt-free entity of the Mahindra group and had a cash pile of Rs 1,090 crore at the end of December. "We'll be closing FY23 with 4,900 rooms across 119 properties, 60 per cent of them are owned properties and the rest ...

IHC, Mahindra Holidays: Time to check-in hotel stocks this holiday season?

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Mahindra Holidays to invest Rs 1,500 crore on expansion in next 3 years

Mahindra Holidays & Resorts India Ltd plans to invest up to Rs 1,500 crore in the next three years in expansion, including room additions and resort acquisitions, according to company MD and CEO Kavinder Singh. The company is also considering launching a new upscale brand for managing resorts, through which it would also look to further grow its Club Mahindra memberships. "We are on a growth path. We have added 1,000-odd rooms in just about two and a half years," Singh told PTI. At present, Mahindra Holidays & Resorts India Ltd (MHRIL) has a total of about 4,700 rooms across 86 resorts -- 74 in India and 12 internationally, he added. When asked about future expansion, he said, "For us, we have to add resorts, that's the business we are in. We have a plan to easily add 1,200 to 1,500 rooms in about three years' time and that will happen at an estimated capital expenditure of about Rs 1,200 crore to Rs 1500 crore, which is sanctioned by the board". Among the major expansion ...