MHRIL.NSE

Mahindra Holidays & Resorts India Limited

Chennai: Mahindra Holidays & Resorts India has, through its Finland-based subsidiary, acquired 100% stake in Finnish mutual real estate company Ke.

Mahindra Holidays & Resorts India Ltd on Sunday said it has received a tax demand notice of over Rs 363 crore including penalty, related to reporting of integrated goods and services tax (IGST) on its club membership services. The company in a regulatory filing informed that it is taking appropriate steps to pursue legal remedies before the appropriate authority in this regard. The show cause notice, dated June 28, 2025, was issued by the State Tax Officer, Anna Salai Central III, Chennai, Tamil Nadu. "The Company has received a demand Show Cause Notice from the Authority for FY 2018-19 demanding Rs 363,07,96,980 (tax of Rs 181,53,98,490 and penalty of Rs 181,53,98,490) under applicable provisions of TNGST Act, 2017 & CGST Act, 2017 on account of reporting of IGST on club membership services instead of CGST and SGST and sudden decrease of IGST payment since August," Mahindra Holidays stated.

Mahindra Holidays and Resorts India reported a more than 11% fall in fourth-quarter profit on Friday due to sluggish demand for international travel amid geopolitical tensions and cost pressures. Mahindra Holidays’ consolidated net profit fell to 730.8 million rupees ($8.6 million) in the March quarter, from 823.6 million rupees a year earlier. Geopolitical tensions and higher costs of travelling abroad held back consumers from taking trips in Europe. That weighed on the company, which gets about half of its total revenue from its international business, which includes properties across Finland, Sweden and Spain. Total income at its international business unit, Holiday Club Resorts (HCR), fell to 39.7 million euros ($45 million) from 41.9 million euros a year ago. Mahindra & Mahindra, banks hold up Indian shares’ record rally However, surging spending on local leisure travel amid the government’s stated goal of making India one of the top five global tourist destinations by 2030, partly offset the decline in international business.

Mumbai (Maharashtra) [India], April 24: Mahindra Holidays & Resorts India Limited has joined hands with The Job Plus to roll out a transformative skill development and livelihood creation program across Mahindra communities and resorts nationwide. This initiative is strategically aligned to build a future-ready, inclusive workforce for the fast-growing hospitality sector.