India Tourism Development Corporation Ltd · ITDC
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—
—
—
—
₹118 Cr
₹154 Cr
₹118 Cr
₹131 Cr
₹135 Cr
₹141 Cr
₹85 Cr
₹146 Cr
₹144 Cr
₹200 Cr
₹88 Cr
₹118 Cr
₹185 Cr
₹142 Cr
₹90 Cr
20-quarter listed-company comparison
Resorts Stocks in India
Resorts: Mahindra Holidays & Resorts India Ltd owns the largest revenue base; Praveg Ltd has the fastest current growth.
The 3 Resorts companies listed in India are India Tourism Development Corporation Ltd (₹5.9K Cr, the largest), Mahindra Holidays & Resorts India Ltd and Praveg Ltd. 1 of 3 covered companies beats NIFTY 500 on relative strength. Readings are as of 17 Sep 2026.
01 · the index people search for
Nifty Resorts Index — Constituents & Performance
All 3 listed Indian Resorts companies are named here, largest first — the same constituent set people search for as the Nifty Resorts index. Every figure is equal-weighted across those companies and carries its own as-of date. One large constituent cannot set the reading.
- India Tourism Development Corporation Ltd₹5.9K Cr
- Mahindra Holidays & Resorts India Ltd₹4.0K Cr
- Praveg Ltd₹688 Cr
02 · the sector itself · before any single company
How has Resorts moved against NIFTY 500?
The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 45% behind NIFTY 500. Earnings across its companies fell 29% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 5 weeks running.
BREAKING OUT · ahead 5w⚠Price down, no fundamental support2 of 3 companies ahead of NIFTY 500 by 5% or more over three months
RS ↑5w · 1/3 >200d (−1) · 2/3 lead (+1) · EPS 1/3↑
Resorts, equal-weighted, based at 200
NIFTY 500, same base, same start
trailing 12-month earnings per share rising
falling
Resorts, equal-weighted, based at 200
NIFTY 500, same base, same start
trailing 12-month earnings per share rising
falling
Resorts, equal-weighted, based at 200
NIFTY 500, same base, same start
trailing 12-month earnings per share rising
falling
Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 3 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.
03 · sector relative strength, before individual stocks
Is Resorts outperforming NIFTY 500?
Resorts has underperformed NIFTY 500 by 21.1% over the last 52 weeks. Over 13 weeks the gap is a lead of 7.6%. 1 of 3 covered companies currently beats NIFTY on Mansfield relative strength, so leadership inside the sector is selective. India Tourism Development Corporation Ltd is the strongest against the sector itself at +21.8%. Readings are as of 2026-08-22.
+7.6%Sector vs NIFTY 500 · 13 weeks
-21.1%Sector vs NIFTY 500 · 52 weeks
1/3Stocks leading NIFTY 500
1/3Stocks leading sector
Sector metric: 20.6 as of 2026-08-22 · NARROWING · rising.
The central tension: the companies with the most scale are not necessarily the companies creating the most change.
Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.
Bottom line
Resorts has underperformed NIFTY 500 by 21.1% over 52 weeks and 7.6% over 13 weeks. 1 of 3 covered companies beat NIFTY on Mansfield relative strength, while 1 of 3 beat the sector itself. Mahindra Holidays & Resorts India Ltd leads with revenue of ₹3,023 crore, based on 3 of 3 comparable companies through Jun 2026.
Companies
3
complete canonical membership
Combined market value
₹10.6K Cr
India Tourism Development Corporation Ltd
Revenue growing
2/3
positive TTM year-on-year growth
Beating NIFTY 500
1/3
positive Mansfield relative strength
Comparing 3 of 3
04 · research priority, made explicit
4-Factor Sector Score
An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.
Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
India Tourism Development Corporation Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 72.3% evidence confidence.
India Tourism Development Corporation Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.
How this score is built, and what the marks mean
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1India Tourism Development Corporation LtdITDC | 56.8/100Mixed-positive evidence72% evidence | TURNING | 9.9/35 Revenue -7.2% · PAT 4% · OPM change -1 pp 95% evidence | 19.3/25 ROCE 29.9% · OPM 9.3% 76% evidence | 10.0/20 P/E 71.6× · PEG — 0% evidence | 17.6/20 RS sector 21.8% · RS bench 18.9% · 1Y 25.8%11 of 12 weeks ahead 100% evidence |
| Exact sum: 9.9 + 19.3 + 10 + 17.6 = 56.8 · Decision use: Price leads the evidence: RS versus the benchmark is 18.9%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 2Praveg LtdPRAVEG | 30.4/100Adverse evidence63% evidence | TURNING | 13.3/35 Revenue 36.3% · PAT -80% · OPM change -7 pp 71% evidence | 4.1/25 ROCE 1.7% · OPM 8% 95% evidence | 10.0/20 P/E — · PEG — 0% evidence | 3.0/20 RS sector -22% · RS bench -5.3% · 1Y -34.9%2 of 9 weeks ahead 70% evidence |
| Exact sum: 13.3 + 4.1 + 10 + 3 = 30.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3Mahindra Holidays & Resorts India LtdMHRIL | 22.4/100Adverse evidence79% evidence | ASLEEP | 6.5/35 Revenue 6.8% · PAT -59.6% · OPM change -2 pp 95% evidence | 8.5/25 ROCE 8.1% · OPM 15.4% 76% evidence | 7.4/20 P/E 85× · PEG — 35% evidence | 0.0/20 RS sector -24.7% · RS bench -26.7% · 1Y -45.1%0 of 12 weeks ahead 100% evidence |
| Exact sum: 6.5 + 8.5 + 7.4 + 0 = 22.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
05 · what price has already done
Market action
India Tourism Development Corporation Ltd has the strongest one-year price move in Resorts at +25.8%. It also leads on Mansfield relative strength against NIFTY at +18.9%. 1 of 3 covered companies is above zero on that measure. Every line covers 313 weekly closes through 2026-09-11.
Price and relative strength
Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.
How far ahead of or behind NIFTY 500 each company has been running, measured against its own recent average of that comparison, so the flat line at zero IS NIFTY 500: above it the company is beating the market, below it the market is beating the company. It opens on one year.
The same measure taken against Resorts itself instead of the whole market, so the flat line at zero is the sector: above it the company is beating its own peers, which is the sharper test of the two. It opens on one year.
06 · the story behind the numbers
Resorts — the story behind the numbers
This is the written read behind the Resorts figures above — what is actually happening in the sector, in words, with the evidence each claim rests on. It is dated 28 Jul 2026. 3 themes are live here, 2 of them rated high severity.
The sector outlook is CAUTIOUS. While operating leverage inflection and interest cost reduction deleveraging provide financial stability, high severity regulatory and litigation risks pose significant threats. Investors should monitor the resolution of contingent liabilities and compliance fines before expecting valuation re-rating.
The Resorts sector, represented by India Tourism Development Corporation Ltd (ITDC) for this reporting week, exhibits a mixed demand environment. ITDC reported Q4 FY26 consolidated net profit of ₹28.29 crores, marking a 12.66% year-on-year expansion despite net sales plummeting 28.97% to ₹142.01 crores.
How old this read is: This read comes from our Resorts sector brief dated 28 Jul 2026 — 51 days old. The numbers above it are newer than the words here.
What is live in this sector right now
| Live theme | Severity | Evidence on file |
|---|---|---|
| ITDC incurred SEBI LODR compliance fines across multiple FY26 quarters due to lack of Independent Directors.Named for ITDC | high | “ITDC incurred SEBI LODR compliance fines across multiple FY26 quarters due to lack of Independent Directors, with BSE/NSE fines ranging from Rs. 5,31,000 to Rs.” Company attributed delay to Ministry of Tourism appointment process; requested waiver of fines from exchanges upon achieving compliance. |
| Contingent liabilities of ₹1134.62 crore (3.22x net worth) include NDMC property tax dispute of ₹475.66 crore.Named for ITDC | high | “Contingent liabilities of ₹1134.62 crore (3.22x net worth) include NDMC property tax dispute of ₹475.66 crore, customs demand of ₹185 crore, and DDA dues of ₹989.57 lakhs outstanding over 3 years with no provision made.” Management represented majority liabilities do not have legal standing and are not expected to materialise. |
| Auditor unable to determine delay in making payment to MSME entities and liability of interest due to absence of requisite audit evidence under MSMED Act, 2006.Named for ITDC | low | “Auditor unable to determine delay in making payment to MSME entities and liability of interest due to absence of requisite audit evidence under MSMED Act, 2006.” Information collated to extent of information received from suppliers; audit evidence insufficient for determination. |
Sources: our Resorts sector brief, 28 Jul 2026 · company earnings-call transcripts.
07 · compare level, then change
Revenue Scale & Growth Durability
Mahindra Holidays & Resorts India Ltd has the highest Revenue among the 3 Resorts companies compared here, at ₹3,023 crore. India Tourism Development Corporation Ltd is next at ₹535 crore. Praveg Ltd has the highest Revenue growth at 36.3%, so level and change sit with different companies. 3 of 3 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: Mahindra Holidays & Resorts India Ltd is the scale leader at ₹3,023 crore, 464.6% ahead of India Tourism Development Corporation Ltd. Praveg Ltd's growth is 36.3% from a ₹248 crore base, with 15 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.
LeaderMahindra Holidays & Resorts India Ltd · ₹3,023 crore
Gap464.6% versus #2 · India Tourism Development Corporation Ltd
Persistence7/8 recent comparable periods
Coverage3/3 companies · 45 observations
Investor read: Mahindra Holidays & Resorts India Ltd is the scale benchmark; Praveg Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.
This conclusion weakens if: Mahindra Holidays & Resorts India Ltd's growth falls below Praveg Ltd's for two consecutive comparable reports while operating margin also compresses.
Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
Revenue growthfastest growers
Revenue · company comparison
3/3 level · 3/3 change
On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.
All-company data · latest reported quarter
In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Revenue | Revenue growth | Reported |
|---|---|---|---|
| Mahindra Holidays & Resorts India Ltd MHRIL | ₹733 Cr | 4.5% | Jun 2026 |
| India Tourism Development Corporation Ltd ITDC | ₹90 Cr | 2.7% | Jun 2026 |
| Praveg Ltd PRAVEG⚠ unverified | ₹46 Cr | 18% | Jun 2026 |
Full 20-quarter history · every available company
Revenue · reported quarter history
Mahindra Holidays & Resorts India Ltd · MHRIL
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—
—
—
—
₹602 Cr
₹712 Cr
₹614 Cr
₹655 Cr
₹635 Cr
₹800 Cr
₹653 Cr
₹671 Cr
₹678 Cr
₹779 Cr
₹701 Cr
₹717 Cr
₹753 Cr
₹820 Cr
₹733 Cr
Praveg Ltd · PRAVEG⚠ unverified
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—
—
—
—
₹28 Cr
₹19 Cr
₹12 Cr
₹14 Cr
₹33 Cr
₹33 Cr
₹23 Cr
₹31 Cr
₹54 Cr
₹58 Cr
₹39 Cr
₹38 Cr
₹90 Cr
₹74 Cr
₹46 Cr
Revenue growth · reported quarter history
India Tourism Development Corporation Ltd · ITDC
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—
—
—
—
—
—
—
—
14%
-8.4%
-28%
11%
6.4%
42%
3.3%
-19%
29%
-29%
2.7%
Mahindra Holidays & Resorts India Ltd · MHRIL
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—
—
—
—
—
—
—
—
5.4%
12%
6.3%
2.4%
6.9%
-2.7%
7.4%
7.0%
11%
5.3%
4.5%
Praveg Ltd · PRAVEG⚠ unverified
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—
—
—
—
—
—
—
—
16%
76%
92%
121%
64%
76%
70%
23%
67%
28%
18%
08 · compare level, then change
Operating Economics & Margin Trend
Mahindra Holidays & Resorts India Ltd has the highest OPM among the 3 Resorts companies compared here, at 15.4%. India Tourism Development Corporation Ltd is next at 9.3%. India Tourism Development Corporation Ltd has the highest Margin change at -1 percentage points, so level and change sit with different companies.
What the numbers say: Mahindra Holidays & Resorts India Ltd leads opm at 15.4%; India Tourism Development Corporation Ltd leads margin change at -1 percentage points.
LeaderMahindra Holidays & Resorts India Ltd · 15.4%
Gap66.5% versus #2 · India Tourism Development Corporation Ltd
Persistence4/8 recent comparable periods
Coverage3/3 companies · 60 observations
Investor read: Mahindra Holidays & Resorts India Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current margin change signal.
Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
Margin changefastest expanders
Operating margin · company comparison
3/3 level · 3/3 change
All-company data · latest reported quarter
| Company | OPM | Margin change | Reported |
|---|---|---|---|
| Mahindra Holidays & Resorts India Ltd MHRIL | 15% | −2.0 pp | Jun 2026 |
| India Tourism Development Corporation Ltd ITDC | 9.3% | −1.0 pp | Jun 2026 |
| Praveg Ltd PRAVEG⚠ unverified | 8.0% | −7.0 pp | Jun 2026 |
Full 20-quarter history · every available company
OPM · reported quarter history
India Tourism Development Corporation Ltd · ITDC
0.9%
6.0%
-2.8%
17%
13%
20%
13%
19%
18%
17%
17%
9.2%
14%
18%
16%
10%
16%
18%
21%
9.3%
Mahindra Holidays & Resorts India Ltd · MHRIL
22%
15%
16%
16%
19%
15%
23%
14%
21%
17%
23%
16%
18%
21%
26%
17%
21%
19%
24%
15%
Praveg Ltd · PRAVEG⚠ unverified
35%
52%
44%
43%
55%
60%
52%
37%
28%
37%
26%
27%
21%
40%
26%
15%
10%
29%
30%
8.0%
Margin change · reported quarter history
India Tourism Development Corporation Ltd · ITDC
+75.5 pp
+29.5 pp
−4.5 pp
+20.5 pp
+12.0 pp
+14.0 pp
+15.8 pp
+2.4 pp
+5.5 pp
−3.2 pp
+4.4 pp
−9.7 pp
−4.5 pp
+0.9 pp
−1.3 pp
+1.0 pp
+2.4 pp
+0.1 pp
+5.4 pp
−1.0 pp
Mahindra Holidays & Resorts India Ltd · MHRIL
+2.2 pp
−0.7 pp
+6.7 pp
+9.0 pp
−2.2 pp
+0.4 pp
+6.8 pp
−2.8 pp
+1.2 pp
+1.5 pp
+0.4 pp
+2.4 pp
−2.4 pp
+4.9 pp
+2.8 pp
+1.3 pp
+2.9 pp
−2.3 pp
−2.2 pp
−2.0 pp
Praveg Ltd · PRAVEG⚠ unverified
+9.9 pp
+12.5 pp
+10.0 pp
+19.7 pp
+20.3 pp
+7.8 pp
+7.2 pp
−6.1 pp
−27.1 pp
−23.2 pp
−25.5 pp
−10.0 pp
−7.0 pp
+3.0 pp
0.0 pp
−12.0 pp
−11.0 pp
−11.0 pp
+4.0 pp
−7.0 pp
09 · compare level, then change
Profit Scale & Acceleration
India Tourism Development Corporation Ltd has the highest Net profit among the 3 Resorts companies compared here, at ₹82 crore. Mahindra Holidays & Resorts India Ltd is next at ₹51 crore. The same company also holds the highest Profit growth, at 4%. 3 of 3 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: India Tourism Development Corporation Ltd leads with ₹82 crore of TTM profit, 59.8% above Mahindra Holidays & Resorts India Ltd. India Tourism Development Corporation Ltd shows 4% growth from a ₹82 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.
LeaderIndia Tourism Development Corporation Ltd · ₹82 crore
Gap59.8% versus #2 · Mahindra Holidays & Resorts India Ltd
Persistence5/8 recent comparable periods
Coverage3/3 companies · 45 observations
Investor read: India Tourism Development Corporation Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.
Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
Profit growthfastest growers
Net profit · company comparison
3/3 level · 2/3 change
All-company data · latest reported quarter
| Company | Net profit | Profit growth | Reported |
|---|---|---|---|
| India Tourism Development Corporation Ltd ITDC | ₹9 Cr | -3.6% | Jun 2026 |
| Mahindra Holidays & Resorts India Ltd MHRIL | ₹-9 Cr | -219% | Jun 2026 |
| Praveg Ltd PRAVEG⚠ unverified | ₹-13 Cr | -267% | Jun 2026 |
Full 20-quarter history · every available company
Net profit · reported quarter history
India Tourism Development Corporation Ltd · ITDC
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—
—
—
—
₹23 Cr
₹10 Cr
₹17 Cr
₹19 Cr
₹18 Cr
₹10 Cr
₹12 Cr
₹24 Cr
₹21 Cr
₹25 Cr
₹10 Cr
₹16 Cr
₹28 Cr
₹28 Cr
₹9 Cr
Mahindra Holidays & Resorts India Ltd · MHRIL
—
—
—
—
—
₹-14 Cr
₹56 Cr
₹1 Cr
₹21 Cr
₹11 Cr
₹83 Cr
₹6 Cr
₹11 Cr
₹35 Cr
₹73 Cr
₹7 Cr
₹17 Cr
₹1 Cr
₹41 Cr
₹-9 Cr
Praveg Ltd · PRAVEG⚠ unverified
—
—
—
—
—
₹12 Cr
₹5 Cr
₹1 Cr
₹2 Cr
₹8 Cr
₹2 Cr
₹1 Cr
₹1 Cr
₹11 Cr
₹3 Cr
₹-6 Cr
₹-9 Cr
₹10 Cr
₹-5 Cr
₹-13 Cr
Profit growth · reported quarter history
India Tourism Development Corporation Ltd · ITDC
—
—
—
—
—
—
—
—
—
-22%
-0.6%
-32%
23%
14%
150%
-18%
-31%
36%
14%
-3.6%
Mahindra Holidays & Resorts India Ltd · MHRIL
—
—
—
—
—
—
—
—
—
—
49%
583%
-46%
236%
-12%
18%
47%
-96%
-43%
-219%
Praveg Ltd · PRAVEG⚠ unverified
—
—
—
—
—
—
—
—
—
-31%
-61%
0.0%
-50%
38%
50%
-700%
-1,000%
-9.1%
-267%
—
10 · compare level, then change
Return On Capital Employed
India Tourism Development Corporation Ltd has the highest ROCE among the 3 Resorts companies compared here, at 29.9%. Mahindra Holidays & Resorts India Ltd is next at 8.1%. The same company also holds the highest ROCE change, at 0 percentage points. 3 of 3 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: India Tourism Development Corporation Ltd leads ROCE at 29.9%, 21.8 percentage points above Mahindra Holidays & Resorts India Ltd. India Tourism Development Corporation Ltd has the strongest latest improvement at 0 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.
LeaderIndia Tourism Development Corporation Ltd · 29.9%
Gap268.2% versus #2 · Mahindra Holidays & Resorts India Ltd
PersistenceNot enough history
Coverage3/3 companies · 15 observations
Investor read: India Tourism Development Corporation Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current roce change signal.
ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
ROCE changefastest improvers
Return on capital · company comparison
3/3 level · 3/3 change
Withheld from this chart: India Tourism Development Corporation Ltd (ITDC) — its two data sources disagree by up to 6.6% on reported income across 14 comparable periods, so its derived ratios are withheld; Mahindra Holidays & Resorts India Ltd (MHRIL) — its two data sources disagree by up to 24% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
All-company data · latest reported quarter
| Company | ROCE | ROCE change | Reported |
|---|---|---|---|
| Praveg Ltd PRAVEG⚠ unverified | 1.5% | −2.9 pp | Jun 2026 |
Full 20-quarter history · every available company
ROCE · reported quarter history
Praveg Ltd · PRAVEG⚠ unverified
83%
—
58%
—
72%
—
34%
—
16%
21%
5.2%
9.9%
3.3%
8.7%
4.4%
5.1%
2.3%
2.2%
1.5%
—
ROCE change · reported quarter history
Praveg Ltd · PRAVEG⚠ unverified
—
—
—
—
−10.6 pp
—
−23.3 pp
—
−56.7 pp
—
−29.0 pp
—
−12.2 pp
−12.1 pp
−0.8 pp
−4.8 pp
−1.0 pp
−6.5 pp
−2.9 pp
—
11 · compare level, then change
Valuation Against Growth & Quality
No company in this Resorts comparison reports a valuation figure this section can compare, so the PEG rank is empty. On P/E, India Tourism Development Corporation Ltd is lowest at 71.6×, across 2 of 3 companies with a usable reading. PEG asks what price is being paid for growth; P/E keeps that answer anchored to the actual earnings multiple.
What the numbers say: There is not enough comparable evidence to name a reliable peg leader.
LeaderNo comparable leader
GapNot enough peers
PersistenceNot enough history
Coverage0/3 companies · 0 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/e signal.
PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.
PEGlowest PEG
—Not enough comparable data—
P/Elowest P/E
Valuation · company comparison
0/3 level · 2/3 change
All-company data · latest reported quarter
| Company | PEG | P/E | Reported |
|---|---|---|---|
| India Tourism Development Corporation Ltd ITDC | — | 61.9 | Jun 2026 |
| Mahindra Holidays & Resorts India Ltd MHRIL | — | 76.7 | Jun 2026 |
| Praveg Ltd PRAVEG⚠ unverified | — | 98.2 | Jun 2026 |
Full 20-quarter history · every available company
No consistent historical series is available for peg.
P/E · reported quarter history
India Tourism Development Corporation Ltd · ITDC
—
—
393.0
726.0
180.6
121.5
54.1
50.5
51.9
55.7
83.5
109.1
96.8
80.1
74.7
62.9
62.5
69.8
41.4
61.9
Mahindra Holidays & Resorts India Ltd · MHRIL
—
137.2
114.2
62.5
47.3
53.8
72.3
52.4
93.2
115.5
88.2
79.5
64.6
63.3
42.0
53.7
53.4
46.6
50.9
76.7
Praveg Ltd · PRAVEG⚠ unverified
18.5
22.9
20.1
23.9
23.3
22.6
32.3
36.1
49.0
77.3
132.4
148.1
144.1
142.9
102.4
85.6
117.9
98.2
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12 · before the conclusion, check the blind spots
What can make this comparison misleading?
This Resorts comparison names 7 specific ways its own evidence can mislead, all listed below. All 3 companies here report on comparable dates, so no rank carries a stale marker. 1 draws at least one figure from a second feed with too little overlap to cross-check. 2 have second-feed figures withheld because the two sources disagree.
Keep these limits visible
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 1 company draws at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; it is marked unverified wherever that figure appears.
- 2 companies are missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
- Thin comparisons: Valuation have fewer than three usable current readings.
13 · evidence and freshness
How was this comparison built?
This comparison is built from the reported filings of 3 Resorts companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-09-11. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.
FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-09-11 · weekly price and relative-strength history
Derived metricsGrowth, changes and PEG are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing0 cross-checked · 1 unverified · 2 withheld, of 3 graded companies.
How a second data feed is admitted, and what happens when it disagrees
A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from.
14 · questions investors ask, short speakable answers
Resorts company comparison FAQs
These 21 answers restate the Resorts comparison above in question form. Every one is computed from the same 3 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-09-11. Nothing here is estimated, and none of it is a recommendation.
Is the Resorts sector outperforming NIFTY 500?
Resorts has underperformed NIFTY 500 by 21.1% over 52 weeks and 7.6% over 13 weeks. 1 of 3 covered companies beat NIFTY on Mansfield relative strength, while 1 of 3 beat the sector itself.
Which Resorts company is largest by revenue?
Mahindra Holidays & Resorts India Ltd leads with revenue of ₹3,023 crore, based on 3 of 3 comparable companies through Jun 2026.
Which Resorts company is growing fastest?
Praveg Ltd has the fastest current revenue growth at 36.3%, across 3 of 3 comparable companies.
Which Resorts company has the strongest 4-Factor Sector Score?
India Tourism Development Corporation Ltd ranks first at 56.8/100 with 72.3% evidence confidence. The score prioritizes research; it is not a buy recommendation.
How much history does this Resorts comparison include?
The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.
How is the 4-Factor Sector Score calculated?
The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.
Is there a Nifty Resorts index?
NSE India maintains Nifty indices for several broad sector categories — Nifty Bank, Nifty IT, Nifty Pharma and others — but not for every sub-sector grouping on this site. Whether or not an official Nifty index covers Resorts, this page builds its own equal-weight basket of 3 listed Resorts companies — one company, one vote, regardless of market value — so no single large company dominates the reading. Figures are as of Jun 2026.
Which are the best Resorts stocks in India?
Ranked by this page's four-factor score, India Tourism Development Corporation Ltd places first among 3 listed Resorts companies, followed by Praveg Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.
How many Resorts stocks are listed in India?
This comparison covers 3 listed Resorts companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.
Which Resorts company is the biggest?
Mahindra Holidays & Resorts India Ltd is the largest, with trailing-twelve-month revenue of ₹3,023 crore, ahead of India Tourism Development Corporation Ltd at ₹535 crore. That covers 3 of 3 companies with comparable reporting through Jun 2026.
Which Resorts company has the best profit margins?
Mahindra Holidays & Resorts India Ltd has the highest operating margin at 15.4%, from 3 of 3 comparable companies. India Tourism Development Corporation Ltd shows the biggest recent improvement, at -1 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.
Which Resorts company makes the most profit?
India Tourism Development Corporation Ltd earns the most, at ₹82 crore of trailing-twelve-month net profit, from 3 of 3 comparable companies. India Tourism Development Corporation Ltd has the fastest profit growth at 4%, though growth off a small or recovering profit base overstates how much has actually changed.
Which Resorts company earns the highest return on capital?
India Tourism Development Corporation Ltd leads on return on capital employed at 29.9%, across 3 of 3 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.
Is the Resorts sector beating the market?
Resorts has underperformed NIFTY 500 by 21.1% over the last 52 weeks and 7.6% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 1 of 3 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.
Which Resorts stock has the strongest price momentum?
India Tourism Development Corporation Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.
Which Resorts company scores highest for research priority?
India Tourism Development Corporation Ltd scores 56.8 out of 100 with 72.3% evidence confidence, from 9.9 points on growth and earnings, 19.3 on capital efficiency, 10 on valuation and 17.6 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.
How many Resorts companies does this comparison cover, and over what period?
It compares 3 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.
What is the total market cap of the Resorts sector?
The 3 Resorts companies on this page carry ₹10,588 crore of combined market value. India Tourism Development Corporation Ltd is the largest at ₹5,925 crore, about 56% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-09-17.
How is the Resorts sector performing?
1 of the 3 covered Resorts companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 21.1% behind NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-09-17.
Why are some values on this page blank?
A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.
Is this investment advice?
No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.
Not SEBI Registered !! Not Investment advice !!