Double-digit growth in Income, EBITDA and EBIT
Q3 overtakes Q1 as strongest Quarter
Announces launch of Sterling Sankalp – its comprehensive ESG initiative
Chennai, 5th February 2025: Sterling Holiday Resorts Ltd. declared its results for Q3 FY25 and announced that it has been the strongest ever quarter performance for Sterling, following 18 consecutive quarters of profitable growth. Traditionally, for Sterling, Q1 has always been its most significant and strongest quarter for any Financial Year. The Q3 results have exceeded Q1 on account of the portfolio balancing that the company had undertaken as part of its expansion plans – thus expanding its revenue base in quarters other than Q1.
The company reported double-digit growth in Income, EBITDA and EBIT. Income grew 12% Year-on-year (YoY) and stood at Rs.1,389 Mn. EBITDA grew by 14% and the EBITDA margin stood at 38.8% while EBIT grew by 13% YoY.
Commenting on the results, Mr. Vikram Lalvani, MD & CEO Sterling Holiday Resorts said, “Sterling has seen the strongest ever quarter in its history. The results indicate the growing strength of Sterling, becoming the preferred brand for an increasing number of customers and comes on the back of a quarter with strong holiday demand, coupled with the increase of supply through our active expansion of resorts.”
Sterling’s portfolio is spread across 48 locations with 57 resorts, hotels and retreats operating in the upper-mid, upscale and upper-upscale segments. During the quarter, Sterling launched 3 resorts: Sterling Lontano Waterfront Wayanad (Kerala) Sterling Brookstone Coorg (Karnataka) and Sterling Bagh Ranthambore (Rajasthan). On an average, Sterling has opened 1 resort a month for the last 18 months and has a healthy pipeline of additional destinations.
A significant line of business – food and beverage – has shown a healthy growth of 20% YoY. The company has achieved this by providing a choice of experiential dining options to its guests and with an increased bouquet of dining facilities across its resorts.
On a YTD basis, Sterling has had a 14% growth in income at Rs. 3,842 Mn and a 35% EBITDA.
Sterling has also launched its ESG initiative, Sterling Sankalp – having undertaken several initiatives under Energy Efficiency, Waste Management and Water conservation across several resorts like: Heat pumps for Energy Conservation, Organic Waste Convertors for Waste Management and Water-recycling and Rainwater Harvestin
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