HBI Staff | Hyderabad 
Sterling Holiday Resorts Ltd., a leading player in the leisure hospitality industry, celebrates its most successful year to date, as it reports its stellar performance for the financial year FY23. The company achieved its highest-ever EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) and PBT (Profit Before Tax) since its inception, bolstered by an impressive streak of nine consecutive profitable quarters.
With a remarkable EBITDA of INR 11,713 Lakhs for FY23, Sterling witnessed a staggering sixfold increase compared to the pre-pandemic year of FY20, demonstrating a robust 23% year-on-year growth over FY22. Furthermore, the EBITDA percentage surged to 31%, a remarkable improvement from the 7% recorded in FY20.
Sterling’s financial success is also reflected in its Turnover, which amounted to INR 37,720 Lakhs for FY23. This signifies a substantial recovery of 37% from pre-pandemic levels, accompanied by an impressive 39% year-on-year growth.
The company’s PBT for FY23 reached INR 6,593 Lakhs, displaying a remarkable 51% year-on-year growth and a staggering swing of INR 11,252 Lakhs compared to the pre-pandemic year of FY20.
Expressing his thoughts on this outstanding performance, Mr. Vikram Lalvani, the Managing Director and CEO, stated, “This has been an exceptional year for our industry. The surge in demand, coupled with our relentless pursuit of internal efficiencies and the strength of the Sterling brand, has propelled us to unprecedented growth levels, surpassing even the pre-pandemic era.”
Sterling Holiday Resorts Ltd. continued its focus on leveraging technology to enhance internal processes and facilitate business operations. Through its proprietary distribution platform, Sterling ONE, the company enables channel partners nationwide and employees of corporate clients to access real-time inventory and make reservations at pre-approved rates with a simple click.
During FY23, Sterling added six new resorts to its portfolio, including Madurai and Tiruvannamalai in Tamilnadu, Kalimpong in West Bengal, Pench in Madhya Pradesh, Haridwar in Uttarakhand, and Chail in Himachal Pradesh, bringing the total count to 40 resorts across 38 captivating destinations. The company boasts a robust pipeline and plans to open additional resorts in the first quarter of FY24, primarily following an asset-light model to drive portfolio expansion.
