Sterling Holiday Resorts declared its results for Q3 FY25, marking its strongest-ever quarter performance following 18 consecutive quarters of profitable growth. Traditionally, Q1 has been the company’s most significant and strongest quarter of any financial year. However, Q3 results have now exceeded Q1 due to strategic portfolio balancing as part of the company’s expansion plans, thereby expanding its revenue base beyond Q1.
Double-Digit Growth in Key Financial Metrics
The company reported double-digit growth in Income, EBITDA, and EBIT:
- Income grew 12% Year-on-Year (YoY) to Rs. 1,389 Mn.
- EBITDA increased by 14%, with a margin of 38.8%.
- EBIT recorded a 13% YoY growth.
CEO’s Perspective on Growth
Commenting on the results, 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.”
Expanding Portfolio with New Resorts
Sterling’s portfolio spans 48 locations with 57 resorts, hotels, and retreats across the upper-mid, upscale, and upper-upscale segments. In Q3, Sterling launched three new resorts:
- Sterling Lontano Waterfront Wayanad (Kerala)
- Sterling Brookstone Coorg (Karnataka)
- Sterling Bagh Ranthambore (Rajasthan)
The company has maintained an impressive pace, opening an average of one resort per month over the last 18 months and has a robust pipeline of additional destinations.
Growth in Food & Beverage Segment
A key revenue driver, Sterling’s Food and Beverage division, witnessed a 20% YoY growth. This success is attributed to a diverse range of experiential dining options and an expanded suite of dining facilities across Sterling’s resorts.
Year-to-Date Performance and ESG Initiatives
On a YTD basis, Sterling has recorded:
- 14% income growth, reaching Rs. 3,842 Mn.
- 35% EBITDA growth.
Additionally, Sterling has launched its ESG initiative, Sterling Sankalp, focusing on sustainability efforts across its resorts, including:
- Energy Efficiency – Implementation of heat pumps for energy conservation.
- Waste Management – Introduction of organic waste convertors.
- Water Conservation – Adoption of water recycling and rainwater harvesting systems.
Sterling continues to strengthen its market position, leveraging expansion, innovation, and sustainability to drive future growth.
