Mahindra Holidays and

Mahindra Holidays reported a mixed Q4 FY26. Standalone revenue grew 4.3% YoYCurrent reported value: 4.3% YoY. No comparable prior figure is available in the source record. to ₹407Current reported value: 407. No comparable prior figure is available in the source record. cr, with resort income up 11%. EBITDA margin expanded 180 bpsCurrent reported value: 180 bps. No comparable prior figure is available in the source record. to 34.9%Current reported value: 34.9%. No comparable prior figure is available in the source record., driven by lower acquisition costs and operational efficiencies. PAT (ex-impairment) rose 22% YoYCurrent reported value: 22% YoY. No comparable prior figure is available in the source record. to ₹55.4Current reported value: 55.4. No comparable prior figure is available in the source record. cr. The India business saw strong upgrade value growth of 33% YoY and new sales AUR up 20%, aided by the Keystone product launch. However, the European subsidiary faced headwinds from weather and credit rejections, leading to a ₹234 cr impairment. Management targets adding >1,000 keys in FY27, with 25-30% owned and the rest via capital-light models. Risk: Prolonged weakness in Finland could further drag consolidated performance.