Group No. 7: Tourism & Hospitality
Group No. 7: Tourism & Hospitality
Group No. 7: Tourism & Hospitality
7
Tourism & Hospitality
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makemytrip.com has become one of the largest travel companies with a sales turnover of Rs
550 crore in 2006-07 and a target of Rs 1,200 crore for the current fiscal.
Kalras company is now making $5 million in US dollars of profit this year and doing more
than $500 million in gross bookings. Revenues are up 88% during the recession and one out
of every twelve domestic flights in India is booked via MakeMyTrip.com. After airline
tickets, the second biggest category is railway ticketsthe site sells 2,500 of them every day.
Kalra is busy interviewing a lot of US-trained management types to augment the team. Dont
look now, but MakeMyTrip could be Indias next dot com IPO. (Like most well-behaved
CEOs, Kalra wouldnt comment on any immediate IPO plans.)
Ahead of his time or no, Kalra is glad he took the risk when he did. Hes not sure he would
today even with more money in his savings. Hes also glad he didnt give up on Indias
domestic market, If Id been in Silicon Valley Im convinced we might have reached scale in
half the time, but we also probably would have been obliterated by the competition.