Mahindra Holidays & Resorts India Limited (MHRIL) has announced a significant transition in its top leadership team. The Board of Directors, in a meeting held on May 5, 2026, approved the resignation of Mr. Vimal Agarwal from the position of Chief Financial Officer and Key Managerial Personnel, effective from the close of business hours on June 30, 2026. Simultaneously, the board approved the appointment of Mr. Rajiv Vimal as the new Chief Financial Officer, who will take charge starting July 1, 2026.

The leadership change comes as Mr. Vimal Agarwal transitions into a new role within the broader Mahindra Group after serving as the CFO of MHRIL. His successor, Mr. Rajiv Vimal, is a highly experienced finance professional and a Chartered Accountant with over twenty years of experience in strategic finance and governance. Before joining MHRIL, he served as the CFO of PPG Asian Paints Private Limited and held various senior leadership positions at Vodafone. His appointment was recommended by both the Nomination and Remuneration Committee and the Audit Committee.

Mahindra Holidays & Resorts India Limited, a subsidiary of the Mahindra Group, is a leading player in the leisure hospitality industry, operating primarily through its vacation ownership brand, Club Mahindra. As of late 2025 and early 2026, the company has aggressively expanded its network, reaching a milestone of 6,000 rooms and launching new resorts in locations such as Amba Ghat, Maharashtra, and Bandhavgarh, Madhya Pradesh. The company follows an asset-light model with a long-term goal of reaching 12,000 keys by FY30. In recent strategic moves, the company launched its premium product “KEYSTONE,” which has driven growth in membership upgrades and unit sales realizations.

For the quarter ended December 31, 2025, MHRIL reported a consolidated total income of ₹782.78 Crores, representing a 10.15% increase compared to ₹710.65 Crores in the same quarter of the previous year. However, net profit for the quarter saw a sharp decline to ₹2.23 Crores, down significantly from ₹34.84 Crores in the corresponding period of 2024, largely due to one-time impacts like the new labor code in India and forex losses in international operations. Notable investors in the company include 3P India Equity Fund, which increased its stake to over 5% in March 2026, and veteran investor Vijay Kedia, who holds a 1.00% stake as of the March 2026 quarter.