Mahindra Holidays and Resorts posted a net profit of some INR401 million for the quarter ended March, a 25% jump from the year ago.According to an Economic Times report, the company said it would spend up to INR8 billion on expansion in FY2012. The company had said that occupancy across resorts went up to around 78% for the year ended March, up from 74% the previous financial year.Chairman Arun Nanda was quoted saying that the new investment in expanding its portfolio was coming on the back of India’s booming travel and tourism sector. “It will be a combination of new properties, brownfield properties under construction, acquisition of properties and we might take some properties on lease as well,” Nanda was quoted saying.Mahindra plans to add 700 to 800 rooms in the next financial year.The group has over 125,000 long-term holiday members and operates 36 resorts across India and Thailand.
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