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Country Club Hospitality & Holidays Ltd

CCHHL

NSE

₹13.53+0.07%19 Oct 2026

Reports

Hotels Resorts

Country Club Hospitality & Holidays Ltd

CCHHL

NSE

₹13.53

+0.07%

19 Oct 2026

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Hotels Resorts

Indices

Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.

Country Club Hospitality & Holidays is fundamentally a membership-selling machine - it collects upfront, non-refundable fees from middle-class Indian families in exchange for access to a network of clubs and resorts, then uses those properties to serve the members it has already signed up. The company was built by founder Y. Rajeev Reddy, who started in real estate in 1981 before launching Country Club’s commercial operations in 1991, and it has since grown into a chain spanning over 70 destinations across India and a handful of international outposts. Everything the company does flows from one recurring approach: sell the dream of a leisure lifestyle upfront, build or lease the venues to deliver it, and run a lean hospitality operation to keep members paying annual charges year after year.

Business segments

Three revenue streams that are really one integrated model - membership sales fill the pipeline, the hotel-and-club network fulfils the promise, and a thin layer of ancillary services extends the brand into members’ homes.

1. Vacation ownership memberships: the upfront engine that funds everything

The company sells non-refundable club memberships to middle-class households, collecting fees upfront or over short instalment plans - this is the cash-in-advance model that pays for the resorts before a single room is booked.

Sold directly, not through agents - memberships are marketed through a direct sales force, with leads coming from referrals, alliances, and digital channels, and the Chairman himself acts as the paid brand ambassador for a monthly fee of ₹3 lakh.
Revenue hits the books on day one - membership fees are recognised as income the moment a member is admitted, even if the customer pays in instalments, which means the company books revenue before delivering most of the service.
Credit risk is built into the model - because customers can pay over time, the company faces the constant risk of non-payment or delayed instalments, so it has pushed for higher down payments and shorter EMI tenures to protect cash flows.
The product is a discretionary spend - memberships are an aspirational purchase for middle-class buyers who are more sensitive to economic downturns than affluent customers, making the sales pipeline vulnerable when household budgets tighten.

2. Hotels, resorts and clubs: the fulfilment network that keeps the promise

A portfolio of owned, leased, and managed properties - from beachfront resorts in Goa to urban social clubs in Hyderabad - provides the physical infrastructure that makes the membership worth having.

A balanced spread of property types - the network includes city hotels, hilltop vacation homes, wildlife jungle lodges, water amusement parks, and wellness hubs, giving members variety across locations like Mumbai, Kochi, Jim Corbett, Kodaikanal, and Bengaluru.
Revenue from rooms, food, and events - hospitality income is recognised only when services are actually delivered, and it comes from a mix of individual members, corporate clients using hotels for business continuity, and long-stay guests.
Cost-cutting is relentless and structural - management has reduced fixed costs by selling non-operational properties to pay down debt, renegotiating food-and-beverage contracts, rationalising staff through voluntary pay cuts and a hiring freeze, and shutting open floors in operating hotels to save on power.
Capital spending is frozen except for essentials - renovations and new projects are deferred unless absolutely required, with capital expenditure limited to basic hotel maintenance, because cash is directed toward debt reduction.

3. Ancillary services: extending the brand beyond the club gate

A small bundle of add-on services - home delivery of bakery and wellness products, fitness centres, and recreational coaching - stretches the membership relationship into daily life.

Hospitality at home - the company supplies bakery, confectionery, and wellness services directly to members’ homes, and it is exploring digital channels to expand what it can sell beyond the property walls.
Fitness and recreation as a retention tool - over 20 member-exclusive fitness centres plus coaching in art, sports, and cultural activities give members reasons to stay engaged and keep paying annual subscription fees.
Tour operating on the side - revenue from tour services is recognised only when cash is collected, making it a modest, low-risk add-on rather than a core business line.

Group structure and partners

The company sits inside a web of promoter-controlled entities and once had an extensive international subsidiary network, but foreign investments have been impaired and the domestic structure is now tightly centred on the founder family.

The promoter group dominates shareholding - Y. Rajeev Reddy holds just over 65%, with his sons Y. Siddharth Reddy and Y. Varun Reddy holding another 2.16% and 1.27% respectively, giving the family effective control.
Overseas subsidiaries in Sri Lanka and Dubai remain on the books, but the Board resolved in March 2021 to impair its foreign investments, signalling that the international expansion has been written down.
Related entities that own the actual property collateral for bank loans - Club Arzee Limited in Surat, Amruta Estates in Kolad, Aquarian Realtors in Goa, and Swami Vivekanand Training and Education Centre in Kandivali - are separate legal vehicles controlled by the same directors, not owned by the listed company itself.
The company has defaulted on bank loans across all lenders, with all loan accounts classified as non-performing assets since March 2021, and a financial creditor filed a petition under the Insolvency and Bankruptcy Code that was pending admission as of June 2021, though a one-time settlement was under discussion.

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Price

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Mkt Cap

Market Capitalization

₹216Cr

Close Price

₹13.20

Industry

Hotels Resorts

Price To Earnings

—

Price To Sales

3.10

Revenue

₹70Cr

Rev Gr TTM

Revenue Growth TTM

20.54%

PAT Gr TTM

PAT Growth TTM

-456.28%

Consolidated

Standalone

Numbers

Percentage

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	13	13	12	12	9	11	13	24	20	16	18	15
Growth YoY Revenue Growth YoY%	-8.4	-19.5	-9.6	-13.8	-25.8	-11.2	3.0	95.8	111.6	38.9	42.9	-36.1
Expenses ExpensesCr	13	13	17	12	11	9	22	22	18	15	41	13
Operating Profit Operating ProfitCr	0	-1	-4	0	-1	2	-9	2	2	1	-22	3
OPM OPM%	-2.4	-3.9	-33.5	2.0	-11.8	18.3	-73.6	9.9	8.3	4.5	-122.2	18.5
Other Income Other IncomeCr	1	2	14	3	2	1	22	1	2	1	8	1
Interest Expense Interest ExpenseCr	1	1	1	1	0	0	0	0	0	0	0	0
Depreciation DepreciationCr	3	3	3	3	3	3	3	3	3	3	3	3
PBT PBTCr	-4	-3	6	0	-3	-1	9	0	0	-1	-17	0
Tax TaxCr	0	0	0	0	0	0	0	0	0	0	0	0
PAT PATCr	-4	-3	6	0	-3	-1	9	0	0	-1	-17	0
Growth YoY PAT Growth YoY%	24.2	44.4	-77.8	91.8	19.0	66.1	47.6	186.7	104.0	-17.0	-285.5	61.5
NPM NPM%	-31.7	-25.6	49.4	-2.4	-34.6	-9.8	70.8	1.1	0.7	-8.3	-91.9	2.7
EPS EPS₹	-0.3	-0.2	0.4	0.0	-0.2	-0.1	0.6	0.0	0.0	-0.1	-1.0	0.0

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	13	13	12	12	9	11	13	24	20	16	18	15
Growth YoY Revenue Growth YoY%	-8.4	-19.5	-9.6	-13.8	-25.8	-11.2	3.0	95.8	111.6	38.9	42.9	-36.1
Expenses ExpensesCr	13	13	17	12	11	9	22	22	18	15	41	13
Operating Profit Operating ProfitCr	0	-1	-4	0	-1	2	-9	2	2	1	-22	3
OPM OPM%	-2.4	-3.9	-33.5	2.0	-11.8	18.3	-73.6	9.9	8.3	4.5	-122.2	18.5
Other Income Other IncomeCr	1	2	14	3	2	1	22	1	2	1	8	1
Interest Expense Interest ExpenseCr	1	1	1	1	0	0	0	0	0	0	0	0
Depreciation DepreciationCr	3	3	3	3	3	3	3	3	3	3	3	3
PBT PBTCr	-4	-3	6	0	-3	-1	9	0	0	-1	-17	0
Tax TaxCr	0	0	0	0	0	0	0	0	0	0	0	0
PAT PATCr	-4	-3	6	0	-3	-1	9	0	0	-1	-17	0
Growth YoY PAT Growth YoY%	24.2	44.4	-77.8	91.8	19.0	66.1	47.6	186.7	104.0	-17.0	-285.5	61.5
NPM NPM%	-31.7	-25.6	49.4	-2.4	-34.6	-9.8	70.8	1.1	0.7	-8.3	-91.9	2.7
EPS EPS₹	-0.3	-0.2	0.4	0.0	-0.2	-0.1	0.6	0.0	0.0	-0.1	-1.0	0.0

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	521	453	330	265	153	48	57	64	52	46	78	70
Growth Revenue Growth%	4.7	-13.0	-27.0	-19.9	-42.3	-68.8	19.4	12.9	-18.4	-12.1	70.2	20.5
Expenses ExpensesCr	404	355	281	223	143	53	92	102	56	54	122	87
Operating Profit Operating ProfitCr	116	98	50	41	9	-6	-35	-38	-4	-8	-43	-17
OPM OPM%	22.3	21.6	15.0	15.6	6.2	-12.0	-61.2	-59.0	-6.9	-17.9	-55.2	-24.6
Other Income Other IncomeCr	12	4	2	2	1	6	24	72	16	27	38	11
Interest Expense Interest ExpenseCr	48	43	44	46	49	27	14	8	4	2	1	0
Depreciation DepreciationCr	43	45	48	45	49	19	17	13	13	12	12	12
PBT PBTCr	37	13	-41	-47	-87	-45	-41	13	-4	5	-18	-18
Tax TaxCr	10	8	8	7	5	4	2	0	1	0	0	0
PAT PATCr	27	5	-48	-54	-92	-49	-44	13	-5	4	-18	-18
Growth PAT Growth%	0.9	-81.9	-1,088.2	-11.2	-71.7	47.0	10.4	128.9	-138.4	190.1	-502.7	-456.3
NPM NPM%	5.2	1.1	-14.6	-20.3	-60.4	-102.5	-76.9	19.7	-9.3	9.5	-22.5	-25.3
EPS EPS₹	1.7	0.3	-3.0	-3.3	-5.6	-3.0	-2.7	0.8	-0.3	0.3	-1.1	-1.1

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	521	453	330	265	153	48	57	64	52	46	78	70
Growth Revenue Growth%	4.7	-13.0	-27.0	-19.9	-42.3	-68.8	19.4	12.9	-18.4	-12.1	70.2	20.5
Expenses ExpensesCr	404	355	281	223	143	53	92	102	56	54	122	87
Operating Profit Operating ProfitCr	116	98	50	41	9	-6	-35	-38	-4	-8	-43	-17
OPM OPM%	22.3	21.6	15.0	15.6	6.2	-12.0	-61.2	-59.0	-6.9	-17.9	-55.2	-24.6
Other Income Other IncomeCr	12	4	2	2	1	6	24	72	16	27	38	11
Interest Expense Interest ExpenseCr	48	43	44	46	49	27	14	8	4	2	1	0
Depreciation DepreciationCr	43	45	48	45	49	19	17	13	13	12	12	12
PBT PBTCr	37	13	-41	-47	-87	-45	-41	13	-4	5	-18	-18
Tax TaxCr	10	8	8	7	5	4	2	0	1	0	0	0
PAT PATCr	27	5	-48	-54	-92	-49	-44	13	-5	4	-18	-18
Growth PAT Growth%	0.9	-81.9	-1,088.2	-11.2	-71.7	47.0	10.4	128.9	-138.4	190.1	-502.7	-456.3
NPM NPM%	5.2	1.1	-14.6	-20.3	-60.4	-102.5	-76.9	19.7	-9.3	9.5	-22.5	-25.3
EPS EPS₹	1.7	0.3	-3.0	-3.3	-5.6	-3.0	-2.7	0.8	-0.3	0.3	-1.1	-1.1

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	33	33	33	33	33	33	33	33	33	33	33
Reserves ReservesCr	992	1,000	954	914	390	348	309	284	279	283	266
Current Liabilities Current LiabilitiesCr	189	144	143	189	209	218	229	142	129	108	70
Non Current Liabilities Non Current LiabilitiesCr	443	495	490	463	306	267	219	202	175	172	151
Total Liabilities Total LiabilitiesCr	1,656	1,672	1,620	1,599	938	865	790	662	615	596	519
Current Assets Current AssetsCr	155	124	123	133	57	53	73	60	63	68	52
Non Current Assets Non Current AssetsCr	1,501	1,548	1,497	1,466	881	812	717	602	552	527	468
Total Assets Total AssetsCr	1,656	1,672	1,620	1,599	938	865	790	662	615	596	519

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	33	33	33	33	33	33	33	33	33	33	33
Reserves ReservesCr	992	1,000	954	914	390	348	309	284	279	283	266
Current Liabilities Current LiabilitiesCr	189	144	143	189	209	218	229	142	129	108	70
Non Current Liabilities Non Current LiabilitiesCr	443	495	490	463	306	267	219	202	175	172	151
Total Liabilities Total LiabilitiesCr	1,656	1,672	1,620	1,599	938	865	790	662	615	596	519
Current Assets Current AssetsCr	155	124	123	133	57	53	73	60	63	68	52
Non Current Assets Non Current AssetsCr	1,501	1,548	1,497	1,466	881	812	717	602	552	527	468
Total Assets Total AssetsCr	1,656	1,672	1,620	1,599	938	865	790	662	615	596	519

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	163	83	51	89	-325	17	-16	-65	-5	-9	-26
Investing Cash Flow Investing Cash FlowCr	-101	-92	4	-14	536	50	80	89	38	13	48
Financing Cash Flow Financing Cash FlowCr	-89	1	-57	-80	-211	-69	-65	-25	-33	-5	-21
Net Cash Flow Net Cash FlowCr	-26	-8	-2	-4	0	-1	-2	-2	0	-1	0
Free Cash Flow Free Cash FlowCr	-30	46	47	81	112	68	47	13	36	3	22
CFO To PAT CFO To PAT%	603.7	1,706.5	-106.4	-166.7	352.9	-35.8	37.7	-517.0	105.3	-194.5	148.2
CFO To EBITDA CFO To EBITDA%	140.3	85.2	103.6	216.5	-3,452.7	-304.5	47.4	172.5	140.8	103.6	60.4

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	163	83	51	89	-325	17	-16	-65	-5	-9	-26
Investing Cash Flow Investing Cash FlowCr	-101	-92	4	-14	536	50	80	89	38	13	48
Financing Cash Flow Financing Cash FlowCr	-89	1	-57	-80	-211	-69	-65	-25	-33	-5	-21
Net Cash Flow Net Cash FlowCr	-26	-8	-2	-4	0	-1	-2	-2	0	-1	0
Free Cash Flow Free Cash FlowCr	-30	46	47	81	112	68	47	13	36	3	22
CFO To PAT CFO To PAT%	603.7	1,706.5	-106.4	-166.7	352.9	-35.8	37.7	-517.0	105.3	-194.5	148.2
CFO To EBITDA CFO To EBITDA%	140.3	85.2	103.6	216.5	-3,452.7	-304.5	47.4	172.5	140.8	103.6	60.4

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	176	200	200	107	31	66	122	101	214	243	172	216
Price To Earnings Price To Earnings	6.5	40.7						8.0		55.1
Price To Sales Price To Sales	0.3	0.4	0.6	0.4	0.2	1.4	2.1	1.6	4.1	5.3	2.2	3.1
Price To Book Price To Book	0.2	0.2	0.2	0.1	0.1	0.2	0.4	0.3	0.7	0.8	0.6	0.7
EV To EBITDA EV To EBITDA	4.5	6.1	11.8	10.9	22.6	-60.4	-10.4	-5.5	-76.7	-32.5	-4.5	-14.2
Profitability Ratios Profitability Ratios
GPM GPM%	92.2	91.5	89.5	88.9	83.0	82.2	77.7	72.2	68.5	65.1	51.3	51.3
OPM OPM%	22.3	21.6	15.0	15.6	6.2	-12.0	-61.2	-59.0	-6.9	-17.9	-55.2	-24.6
NPM NPM%	5.2	1.1	-14.6	-20.3	-60.4	-102.5	-76.9	19.7	-9.3	9.5	-22.5	-25.3
ROCE ROCE%	6.2	3.9	0.3	-0.1	-6.3	-2.8	-4.7	5.0	0.0	2.0	-5.4	-5.4
ROE ROE%	2.6	0.5	-4.9	-5.7	-21.8	-12.8	-12.8	4.0	-1.6	1.4	-5.9	-5.9
ROA ROA%	1.6	0.3	-3.0	-3.4	-9.8	-5.6	-5.5	1.9	-0.8	0.7	-3.4	-3.4
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	176	200	200	107	31	66	122	101	214	243	172	216
Price To Earnings Price To Earnings	6.5	40.7						8.0		55.1
Price To Sales Price To Sales	0.3	0.4	0.6	0.4	0.2	1.4	2.1	1.6	4.1	5.3	2.2	3.1
Price To Book Price To Book	0.2	0.2	0.2	0.1	0.1	0.2	0.4	0.3	0.7	0.8	0.6	0.7
EV To EBITDA EV To EBITDA	4.5	6.1	11.8	10.9	22.6	-60.4	-10.4	-5.5	-76.7	-32.5	-4.5	-14.2
Profitability Ratios Profitability Ratios
GPM GPM%	92.2	91.5	89.5	88.9	83.0	82.2	77.7	72.2	68.5	65.1	51.3	51.3
OPM OPM%	22.3	21.6	15.0	15.6	6.2	-12.0	-61.2	-59.0	-6.9	-17.9	-55.2	-24.6
NPM NPM%	5.2	1.1	-14.6	-20.3	-60.4	-102.5	-76.9	19.7	-9.3	9.5	-22.5	-25.3
ROCE ROCE%	6.2	3.9	0.3	-0.1	-6.3	-2.8	-4.7	5.0	0.0	2.0	-5.4	-5.4
ROE ROE%	2.6	0.5	-4.9	-5.7	-21.8	-12.8	-12.8	4.0	-1.6	1.4	-5.9	-5.9
ROA ROA%	1.6	0.3	-3.0	-3.4	-9.8	-5.6	-5.5	1.9	-0.8	0.7	-3.4	-3.4
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	BRIGHOTEL	CCHHL	GOURMET	HBGHOTELS	BHARATAGRI	JUNGLECAMP	ROOPSHRI
Market CapitalizationMkt CapCr	2,108	216	148	142	109	62	49
Close PriceClose₹	55.50	13.20	9.76	69.30	20.70	39.99	68.20
IndustryIndustry	Hotels Resorts	Hotels Resorts	Hotels Resorts	Hotels Resorts	Hotels Resorts	Hotels Resorts	Hotels Resorts
Price To EarningsPE	30.66		162.67	45.59		18.34	487.14
Price To SalesPS	3.99	3.10	0.74	4.39	5.10	2.59	18.44
RevenueRevenueCr	528	70	201	32	21	24	3
Revenue Growth TTMRev Gr TTM%	7.6%	20.5%	16.1%	1.7%	-15.5%		82.9%
PAT Growth TTMPAT Gr TTM%	104.3%	-456.3%	200.5%	-94.2%	-1,158.7%		-77.8%

	BRIGHOTEL	CCHHL	GOURMET	HBGHOTELS	BHARATAGRI	JUNGLECAMP	ROOPSHRI
Market CapitalizationMkt CapCr	2,108	216	148	142	109	62	49
Close PriceClose₹	55.50	13.20	9.76	69.30	20.70	39.99	68.20
IndustryIndustry	Hotels Resorts	Hotels Resorts	Hotels Resorts	Hotels Resorts	Hotels Resorts	Hotels Resorts	Hotels Resorts
Price To EarningsPE	30.66		162.67	45.59		18.34	487.14
Price To SalesPS	3.99	3.10	0.74	4.39	5.10	2.59	18.44
RevenueRevenueCr	528	70	201	32	21	24	3
Revenue Growth TTMRev Gr TTM%	7.6%	20.5%	16.1%	1.7%	-15.5%		82.9%
PAT Growth TTMPAT Gr TTM%	104.3%	-456.3%	200.5%	-94.2%	-1,158.7%		-77.8%

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