Investor Presentation

21st October 2026 MHRIL/SE/26-27/56 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 Q2 & H1 FY 2027 - Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) Ref: Our letter dated 5th October 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 herewith an earnings presentation, to be made to the Investors / Analysts at the Earnings Conference Call scheduled to be held today i.e Wednesday, 21st October 2026, at 4:30 p.m. (IST), encompassing, inter-alia, an overview of the Unaudited standalone and consolidated financial results of the Company for the second quarter and half year ended 30th September 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 Please note that no Unpublished Price Sensitive Information would be shared by the Company during the aforesaid earnings conference call.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. Q2 FY27 INVESTOR PRESENTATION Outline 03 Opportunity 04 MHRIL Standalone 18 Holiday Club Resorts 21 Consolidated 23 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 Standalone Business 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 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 GUEST SERVICING Multiple channels drive discovery, A diversified portfolio that delivers interest and onboarding 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 Network | 80 Domestic & 26 International Resorts # Resorts Ladakh (1 ) Himachal Pradesh (7 ) Uttarakhand (5) Jammu & Kashmir (2) Punjab (1 ) Rajasthan (10) Sikkim (2) Gujarat (6 ) Assam (1) Goa (9) Bihar (1) Maharashtra (9 ) Karnataka (4 ) Andhra Pradesh (2) Uttar Pradesh (2) Kerala (7) Tamil Nadu (5) Madhya Pradesh (2) 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 Q2FY27 Overview Network Resorts Guest Portfolio Rationalization Double digit growth & Transformation Continued growth in Sales Value • Portfolio of 5762 keys across 106 • Sales value  6% YoY...led by Resorts…  103 keys • Resort revenue1  15% YoY premiumization & upgrades • 2 Resorts expanded & 6 exited • Occupancy of 76%  220 bps YoY • Higher unit realization AUR#  based on guest feedback/ratings 43% YoY • Transformation…2 completed & 5 • 8 ongoing greenfield/ brownfield ongoing • Continued momentum in projects estimated to add ~1k keys Upgrades  26% YoY Revenue  4% | EBITDA  12% | PAT  16% YoY # Includes Upgrades 1. Resort revenue Including all subsidiaries (except HCR) Standalone Financials | Q2FY27 ₹ Cr Income EBITDA PAT +4% -12% -16% 395.3 380.7 140.5 124.4 51.7 43.3 Q2 FY26 Q2 FY27 Q2 FY26 Q2 FY27 Q2 FY26 Q2 FY27 Growth linked costs impacted YoY profitability KEYSTONE | Sales value growth Sales Value (₹ Cr) AUR* (₹ Lakh) +6% +43% 13.4 65 83 Q2 FY26 Q2 FY27 Q2 FY26 Q2 FY27 New Membership Sales Upgrades Cumulative Member Base of 3,02,886 Member Additions through Organic & Digital route at 66% in Q2 FY27 * Includes Upgrades Resort Operations | Double digit growth in Q2 Resort Revenue1 (₹ Cr) Occupancy TRevPAR2 (₹ ) +15% +2.2 pp 96 8777 73.4% 75.6% 8265 Q2 FY26 Q2 FY27 Q2 FY26 Q2 FY27 Q2 FY26 Q2 FY27 8 new Net Zero Waste to Landfill Certifications RCI gold Crown awarded to Assonora & Emerald Palms, Varca- Best Experience Luxury Resort - West India 2026 1. Resort revenue Including all subsidiaries (except HCR) 2. Total Revenue Per Available RN excludes non-operating income Network Portfolio Member to Room Ratio 21 Partner resorts exited based on guest feedback Keys 4940 5327 5847 6228 5762 FY23 FY24 FY25 FY26 HFY27 Resort Investments ₹ cr Capex Cashflow 1,446 1,329 -312 Cash (Mar'26) Cash Generation Capex Cash (Sep'26) H1FY25 H1FY26 H1FY27 Ongoing capex for transformation of 7 existing resorts & new inventory addition projects Resort Transformation | Poovar Resort Transformation | Poovar Resort Transformation | Poovar 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, Timeshar [Showing first 8,000 characters — download PDF for full document]