Mahindra Holidays & Resorts appoints Kavinder Singh as MD and CEO

Company reports 21 % growth in profit

Kavinder Singh was appointed as the managing director and chief executive officer of Mahindra Holidays and Resorts Ltd, hospitality arm of Mahindra Group.

Meanwhile the company reported 21% growth in Profit after Tax for the quarter was Rs 24.71 crore and total Income stood at Rs 200 Crore, up by 5%.

Arun Nanda, Chairman, MHRIL said, that the transition from traditional avenues of customer acquisition to newer ones like digital is delivering encouraging results. He added the company expect to shore up its inventory across properties in this financial year.

Among others, inventory in key properties that will be delivered over the second half include Virajpet, Kanha, Munnar and Udaipur, besides acquisition of new properties under consideration, he said.

Vasant Krishnan, Chief Financial Officer, MHRIL, said, "We are beginning to see some positive impact of cost rationalisation measures and strengthening of the financial and acquisition processes and we expect this momentum to continue."