Sterling Holiday Q3 FY26 Revenue, EBITDA Hit Record High

Sterling Holiday Resorts Ltd., one of India’s leading hospitality brands, delivered its strongest-ever quarterly performance in Q3 FY26, recording the highest Revenue, EBITDA, and Profit Before Tax (PBT) in its history.

The company also marked its 24th consecutive profitable quarter, underscoring the resilience and consistency of its business model.

Total Revenue for the quarter stood at Rs. 1,582 million, up 10 percent year-on-year, while the EBITDA margin reached 36 percent, well above industry averages, reflecting strong operational efficiency.

Key Highlights

• Record Q3 FY26 revenue and EBITDA, 24 profitable quarters
• Debt-free with 54 percent rise in cash reserves
• Rapid resort expansion powered by Sterling ONE digital reach

Sterling continues to maintain a debt-free balance sheet, with cash reserves rising 54 percent YoY, offering flexibility for future investments.

Growth momentum is supported by an aggressive expansion strategy. Sterling has doubled its resort portfolio in three years, adding more than one resort per month, while ensuring earnings quality across owned and managed properties. The company’s ability to ramp up new resorts within one to two quarters enables faster yield realisation and quicker profitability.

Its proprietary digital platform, Sterling ONE, enhances distribution, especially across Tier II and Tier III markets, improving direct bookings, occupancy, and RevPAR. Continuous reinvestment has upgraded properties with themed suites, specialty dining, wellness and spa facilities, and curated experiences.

Customer satisfaction remains strong, with TripAdvisor ratings improving from 4.55 to 4.61. Analysts link Sterling’s performance to domestic travel recovery and rising discretionary holiday spending, positioning the company well for sustained growth in India’s leisure hospitality sector.

Commenting on the quarter, Vikram Lalvani, Managing Director & CEO, said, “Q3 FY26 has been a landmark quarter for Sterling, delivering record financial performance and significant operational gains. Our ability to grow inventory, enhance yield and strengthen our balance sheet while remaining debt-free demonstrates the robustness of our performance.”

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“India’s domestic travel continues to show tremendous tailwinds, and Sterling is well-positioned to lead this growth. With the expansion of our resort network, enhancements in digital capability and continued focus on guest experience, we see strong visibility for sustained momentum in H2 FY26 and beyond,” he added.