MHRIL

22nd July 2026 MHRIL/SE/26-27/34 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C/1, G Block, Floor 25, PJ Towers, Bandra-Kurla Complex, Dalal Street, Fort, Bandra (E), Mumbai - 400 051 Mumbai - 400 001 Symbol: MHRIL Scrip Code: 533088 Dear Sir/Madam, Sub.: Earnings Presentation for Q1 FY 2027 - Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) Ref: Our letter dated 8th July 2026, intimating about the Earnings Conference Call In compliance with Regulation 30 read with Part A, Para A (15)(a) of Schedule III and other applicable provisions of the SEBI Listing Regulations, please find enclosed an earnings presentation, to be made to the Investors / Analysts at the Earnings Conference Call scheduled to be held tomorrow i.e Thursday, 23rd July 2026, at 4:00 p.m. (IST), encompassing, inter-alia, an overview of Unaudited standalone and consolidated financial results of the Company for the first quarter ended 30th June 2026 and business overview. Please note that no Unpublished Price Sensitive Information would be shared by the Company during the aforesaid earnings conference call. In compliance with Regulation 46 of the SEBI Listing Regulations, this Intimation together with the earnings presentation is also being hosted on the website of the Company at https://www.clubmahindra.com/investors/financials/investors-presentation Kindly take the same on record. Thanking you, For Mahindra Holidays & Resorts India Limited Mansi Laheri Company Secretary Membership No.: A21561 Encl.: a/a MAHINDRA HOLIDAYS & RESORTS INDIA LTD. Q1 FY27 INVESTOR PRESENTATION Outline 03 Opportunity 04 MHRIL Standalone 14 Holiday Club Resorts 17 Consolidated 19 Financials India’s Leisure Consumption Supercycle Travel demand is scaling faster than organized leisure supply ~ 1.8 Tn Consumer, lifestyle & e-commerce spending by 2030. CAGR of 19% (2022-2030E) in discretionary spending. Leisure wallet is expanding Supply gap creating white space More trips, higher travel spend and richer destination choices are Connectivity is expanding the holiday map, but quality branded increasing the annual holiday wallet. leisure supply remains constrained. An opportunity 2.2x 2.7x 14% 420Mn Leisure wallet expansion More trips by FY30 Higher travel spend Branded leisure penetration Air passengers Frequency × Spend × Experience Projected growth vs pre-COVID Spend expected to scale faster Low organized share in leisure Connectivity expands India’s travel volumes than trips by FY30 hospitality keys holiday map Formalisation gap 4.5Bn+ 82% 10.4% 63–65% Demand growth > Branded leisure supply Domestic trips Experience-led travel Demand outpacing supply Hotel occupancy Estimated domestic tourist visits Indians planning trips around Branded room demand CAGR of Healthy demand with ₹8.5–8.7K in 2025 cultural experiences 10.4% vs ~9% supply, FY26–30E ADR (2025) Premium branded leisure A rare combination of scale, frequency, premiumisation and low branded penetration creates one of India’s most compelling long-term hospitality opportunities. MHRIL BUSINESS MODEL Network attracts guests through multiple channels and monetises across a diversified ecosystem ~3L+ ~110 ~100 80%+ Members Resorts Globally Partner Hotels Occupancy PILLAR 1 PILLAR 2 ₹ GUEST ACQUISITION RESORT NETWORK MONETISATION Multiple channels drive discovery, A diversified portfolio that delivers interest and onboarding Monetising the guest across the full stay journey stays and in-destination experiences Digital Channels Managed Resorts Website, App, Social Media, Search, CRM R F S X E Owned / Leased ROOMS F&B SPA & EXPERIENCES WELLNESS Referrals Comfortable Multi-cuisine Rejuvenation Curated Member referrals, Word of mouth stays across restaurants & relaxation activities, Associate Resorts destinations & bars l& adventure Online Portals OTAs, Marketplaces, Meta search Partner Resorts CROSS-SELLING / UP-SELLING Exchange, Affiliate, & Tie-ups ↻ Agents / Partners Travel agents, Corporate tie-ups, DMCs Experiences Ecosystem Events & Activations Roadshows, Fairs, On-ground events 2. RESORT INCOME 1. VACATION OWNERSHIP (VO) REVENUE Stay-led, in-resort monetisation Predictable, long-duration income + Membership Annual Subscription Upgrade Interest Room Food & Spa & Experiences Income Fee (ASF) Income Income Revenue Beverage Wellness MHRIL Aspiration & Growth Vectors India’s #1 leisure hospitality player Scaling the Core Building the New Enhancing Creating A Luxury Leisure Guest Experience Hospitality Brand Q1FY27 Overview Network Resorts Guest Accelerated Portfolio Rationalization Double digit growth & Transformation Premiumization & Upgrades • Portfolio of 5865 keys across 111 • Sales # value  22% YoY...led by • Resort revenue  10% YoY; despite Resorts premiumization & upgrades the impact of transformation • ~350 keys exited based on guest • Higher unit realization AUR#  • Occupancy of 87%  130 bps YoY feedback/ratings 73% YoY • Ongoing transformation of 7 • 8 ongoing greenfield/ brownfield • Continued momentum in Resorts…3 commenced in Q1 projects estimated to add ~1k keys Upgrades  58% YoY Revenue  3% | EBITDA  12% | PAT  29% YoY # Includes Upgrades Network | Accelerated Portfolio Rationalization Member to Room Ratio 15 Partner resorts exited based on guest feedback Keys 4940 5327 5847 6228 5865 57 56 52 52 49 FY23 FY24 FY25 FY26 Q1FY27 Network | Ongoing Greenfield Projects Rendered Image RenRdeenrdeedr eImd aImgea g e Ganpatipule, MH Theog, HP Overall Land Bank of ~ 500 acres. Development Initiated at 5 destinations. Kass, Koyna, Harihareshwar in Maharashtra, Kadapakkam in Tamil Nadu & Amritsar in Punjab Resort Operations | Double digit growth in Q1 Resort Revenue (₹ Cr) Occupancy +10% Keys 5794 5865 Despite temporary unavailability of rooms due 126 to ongoing transformation 114 85.4% 86.7% Q1 FY26 Q1 FY27 Q1FY26 Q1 FY27 IGBC Certifications for Cherai (Platinum) & Bharatpur (Gold) Resort revenue Including all subsidiaries (except HCR) Keystone Privileged Access Our most privileged key. It lets you book full Access to 46 weeks during peak seasons. Access to 24 weeks during our quieter 52 weeks wherever you wish, wherever Ideal to visit destinations at popular times of seasons. Perfect for those who prefer relaxed you choose the year getaways Unlock exclusive access, preferential treatment with future proof pricing - The best Club Mahindra has to offer Large Premium 24/7 Concierge Curated Experiences Rooms Service Complimentary Access to Simple Membership Breakfast International Resorts plans with Buyback KEYSTONE | Value growth led by Premiumization & Upgrades Sales Value (₹ Cr) AUR* (₹ Lakh) +22% +73% 14.4 154 127 8.3 89 56 71 65 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 New Membership Sales Upgrades Cumulative Member Base of 3,03,153 Member Additions through Referral & Digital route at 71% in Q1 FY27 vs 65% in Q1 FY26 * Includes Upgrades Standalone Financials | Q1FY27 ₹ Cr Income EBITDA PAT +3% -12% -29% 423.5 410.6 160.9 141.6 76.2 54.3 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Growth linked costs impacted YoY profitability Holiday Club Resorts (HCR) We Create Dream Holidays HCR Business Model Timeshare Leading Finnish hospitality company 33 Timeshare Destinations in 60,000+ Widespread network of Spa resorts with varied Finland, Sweden & Spain Timeshare owners1 experiences Spa Hotels Complementary business assets in terms of Timeshare and Spa Hotels Multiple Revenue Streams such as Spa Hotels, Timeshare, Real Estate Management & Renting 9 Spa 1,200+ Hotel 1.3 million Resorts Rooms1 visitors per year 1 : Finnish numbers HCR Financials | Q1FY27 Income EBITDA PAT In € Mn -6% 31.4 29.4 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 -2.3 -3.2 -5.1 -4.7 Consolidated Financials | Q1FY27 ₹ Cr Income EBITDA PAT 5% -5% 773.5 740.2 161.2 153.5 7.2 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 -8.6 Financials Refer Company’s website and/or Stock Exchange submission for detailed Financials MHRIL Standalone Financials Income Breakup Quarter ended In ₹ Cr Q1FY27 Q1FY26 YoY Income from VO 128.2 128.5 -0.2% ASF Income 107.5 106.5 0.9% Interest & Others 28.0 27.5 1.8% Total VO Income 263.7 262.5 0.5% Resort Income 116.0 106.1 9.3% Non-Operating Income 43.8 42.0 4.3% Total Income 423.5 410.6 3.1% Resort Income Including all subsidiaries (except HCR) at ₹ 126 Cr (+10% YoY) MHRIL Standalone Financials Profit & Loss Statement Quarter ended In ₹ Cr Q1 FY27 Q1 FY26 YoY Total Income 423.5 410.6 3.1% Employee Benefit 112.9 98.2 15.0% Sales & Marketing 24.7 25.8 -4.3% Rent 27.8 25.5 9.0% Other Expenses 116.5 100.2 16.3% Total Expenditure 281.9 249.7 12.9% EBITDA 141.6 160.9 -12.0% EBITDA Margin % 33.4% 39.2% Finance Cost 17.7 13.2 34.2% Depreciation 51.0 45.0 13.3% PBT 72.9 102.7 -29.0% PBT Margin % 17.2% 25.0% Tax Expenses 18.6 26.5 -29.8% PAT 54.3 76.2 -28.8% PAT Margin % 12.8% 18.6% MHRIL Standalone Financials Snapshot of Balance Sheet 30th June 2026 31st March 2026 In ₹ Cr Property, Plant and Equipment 3,134 3,041 Right of Use Asset (IND AS 116) 786 761 Trade receivables 1,296 1,269 Cash and cash equivalents (regrouped) 1,420 1,446 Deferred Acquisition Cost 774 783 Other Assets 886 848 Assets 8,296 8,148 Shareholders Equity 202 202 Reserves & Surplus 1,480 1,424 Revaluation Reserve 999 999 Other Comprehensive Income (4) (4) Transition Difference (1,403) (1,403) Net-worth 1,274 1,218 VO Deferred Revenue 5,584 5,559 ASF Deferred Revenue 241 219 Lease Liability (IND AS 116) 852 820 Other Liabilities 345 332 Liabilities 8,296 8,148 HCR Financials In € Mn Revenue Details Profit & Loss Statement Quarter ended Quarter ended Q1 FY27 Q1 FY26 Q1 FY27 Q1 FY26 Revenue 29.4 31.4 Timeshare 8.5 9.6 Operating Profit (4.7) (2.3) Spa Hotels 14.8 16.8 Depreciation & Amortization 1.0 1.0 Renting 3.0 3.2 Financial Cost 0.6 0.6 Real Estate Management 1.8 1.8 PBT (6.3) (3.9) Villas 1.3 - Taxes 1.2 0.7 Total Revenue 29.4 31.4 PAT (5.1) (3.2) Financials are as per Finnish Accounting Standards (FAS.) Consolidated Financials Profit & Loss Statement Quarter ended In ₹ Cr Q1 FY27 Q1 FY26 YoY Income from Operations 732.8 701.4 4.5% Non-Operating Revenue 40.7 38.8 5.1% Total Income 773.5 740.2 4.5% Cost of vacation ownership weeks 46.8 45.3 3.4% Employee benefit expense 223.1 194.7 14.6% Other expenses 350.1 339.0 3.3% EBITDA 153.5 161.2 -4.8% EBITDA Margin % 19.8% 21.8% Finance cost 47.1 38.7 21.5% Depreciation 109.4 95.7 14.3% Share of profit / (loss) of JV & associates -0.2 -0.5 Profit/(Loss) before tax -3.2 26.3 -112.1% PBT % -0.4% 3.6% Tax Expenses 5.4 19.1 PAT -8.6 7.2 -219.4% PAT Margin % -1.1% 1.0% Disclaimer This presentation may contain ‘forward looking statements’ within the meaning of applicable laws and regulations. Investors are cautioned that ‘forward looking statements’ are based on certain assumptions, which Mahindra Holidays & Resorts India Limited considers reasonable at this time and our views as of this date and are accordingly subject to change. Actual results might differ substantially or materially from those expressed or implied. The Company undertakes no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise. Future results, performance and achievements may be affected by general economic conditions, regulatory environment, business conditions, changes in statutes and operating risks associated with the vacation ownership / hospitality industry and other circumstances and uncertainties. No representation / assurance is given by the Company as to achievement or completeness of any idea and / or assumptions. This presentation has been prepared exclusively for the benefit and internal use of the recipient and does not carry any right of reproduction or disclosure. This presentation does not constitute an offer for sale or an invitation to subscribe for, or purchase equity shares or other assets / securities of the Company and the information contained herein shall not form basis of any contract.