Membership Growth Vs Room Capacity for MahindraHolidays

Membership Growth Vs Room Growth

• 	Members (growth*)	Rooms (growth*)
  Mar 2004	20,536	409
  Mar 2005	28,491 (38.74%)	500 (22.25%)
  Mar 2006	38,691 (35.8%)	606 (21.2%)
  Mar 2007	53,101 (37.24%)	675 (11.38%)
  Oct 2007	63,375 (19.34%)	736 (9.03%

*Growth from previous year’s number

Source: DRAFT RED HERRING PROSPECTUS : MAHINDRA HOLIDAYS & RESORTS INDIA LIMITED

Page # 61, 73, 171

Source : Mahindra Holidays Investor presentation Feb 2013

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