MakeMyTrip Limited: Comprehensive Corporate Profile

Source: MakeMyTrip Limited Form 20-F Annual Report for the fiscal year ended March 31, 2026.

Quick Facts / Company Snapshot

Metric / Corporate Attribute	Disclosed Value / Specification
Official Corporate Name	MakeMyTrip Limited
Stock Exchange & Ticker Symbol	Nasdaq Global Market: MMYT
SEC Commission File Number	001-34837
Corporate Legal Structure	Mauritius Global Business Company (GBC)
Date of Incorporation & Registration Number	April 28, 2000; Company No. 24478/5832
Principal Executive Offices	19th Floor, Building No. 5, DLF Cyber City, Gurugram, India, 122002
Registered Office Address	c/o IQ EQ Corporate Services, 33, Edith Cavell Street, Port Louis, Mauritius, 11324
Founder, Group Chairman & Chief Mentor	Deep Kalra
Director & Group Chief Executive Officer	Rajesh Magow
Group Chief Operating Officer	Mohit Kabra
Group Chief Financial Officer	Dipak Kumar Bohra
Total IFRS Consolidated Revenue (FY 2026)	$1,045,572 thousand (Calculated by FirmsWorld)
Total Segment Adjusted Margin (FY 2026)	$1,108,671 thousand (Calculated by FirmsWorld)
Total Consolidated Gross Bookings (FY 2026)	$10,390,842 thousand
Total Outstanding Loans and Borrowings	$1,405.6 million (as of March 31, 2026)
Ordinary Shares Outstanding	90,448,984 shares (including 1,686,012 treasury shares)
Class B Convertible Ordinary Shares Outstanding	5,295,690 shares
Annual Unique Transacting Customers (FY 2026)	35.7 million individual travelers
Customer Repeat Transaction Rate (FY 2026)	78.4% across key platforms
Total Worldwide Full-Time Workforce	5,507 employees (as of March 31, 2026)

Source: MakeMyTrip Limited Form 20-F Annual Report for the fiscal year ended March 31, 2026.

Company Overview

MakeMyTrip Limited operates as an asset-light digital travel technology enterprise aggregating fragmented travel inventory across transportation, lodging, and experiential services. Established in 2000, the company connects retail consumers, enterprise accounts, small-and-medium businesses (SMBs), and travel agents with third-party travel suppliers.

The group executes operations primarily through its Indian operating entity, MakeMyTrip (India) Limited (MMT India), supported by operational subsidiaries across the United States, Singapore, the United Arab Emirates, and Thailand. Over two decades of commercial deployment, the group has developed from an inbound air ticketing portal into an integrated digital travel ecosystem.

• 88.9 million lifetime unique transacting customers have completed bookings across MakeMyTrip, Goibibo, and redBus since company inception.
• 35.7 million annual unique transacting customers utilized the group’s digital interfaces during the fiscal year ended March 31, 2026.
• 78.4% repeat transaction rate recorded across core platforms in fiscal year 2026, with transacting customers averaging 4.2 bookings per year.

MakeMyTrip offers a multi-vertical product catalog encompassing commercial air ticketing, standalone hotel reservations, alternative accommodations, curated holiday packages, intercity bus ticketing, rail tickets, outstation cabs, local attractions, and retail foreign currency exchange. The platform also integrates travel insurance, credit facilitation, and digital visa processing.

The group serves distinct traveler segments through three primary consumer-facing brands: MakeMyTrip, Goibibo, and redBus. MakeMyTrip operates as the flagship full-service portal across premium air, lodging, and holiday vacations. Goibibo delivers mobile-first booking options for value-conscious consumers, while redBus provides intercity bus and rail ticketing across India, Latin America, and Southeast Asia.

• 81.3% of total booking transactions were executed directly on native iOS and Android mobile applications during fiscal year 2026.
• 566.7 million cumulative mobile application downloads were logged across MakeMyTrip, Goibibo, and redBus through March 31, 2026.
• 285 transactions per minute were processed on average across the group’s shared infrastructure architecture in fiscal year 2026.

MakeMyTrip operates an asset-light marketplace model. The company avoids direct ownership of commercial passenger aircraft, physical hotels, or passenger bus fleets. Instead, it integrates directly with external suppliers through application programming interfaces (APIs), switch networks, Global Distribution Systems (GDS), and dedicated supplier extranets.

The platform aggregates real-time inventory from domestic and international airlines, over 1.4 million lodging establishments worldwide, 25 Indian State Road Transport Corporations (SRTCs), more than 8,000 private bus operators, Indian Railways, and outstation car rental operators.

• Over 1.4 million hotels and alternative accommodations globally accessible to travelers, including 0.1 million domestic accommodations comprising more than 1.6 million rooms across India.
• Over 200,000 tours and attractions available across more than 1,090 cities in 139 countries worldwide.
• Coverage across 3,000+ cities and towns in India for outstation car rentals, including direct transit linking 150 domestic commercial airports.

The company’s digital distribution is supported by proprietary search algorithms, caching technologies, and artificial intelligence implementations. The platform features “Myra,” an agentic conversational assistant launched in August 2025. Myra automates customer servicing, trip discovery, and multi-modal booking workflows across English, Arabic, and seven native Indian languages.

Business Segments

MakeMyTrip manages and evaluates business operations across four reportable operating segments: Hotels and Packages, Air Ticketing, Bus Ticketing, and Others.

Management monitors financial performance across these segments using IFRS Revenue, Customer Inducement Costs, Service Costs, Adjusted Margin, Gross Bookings, and Adjusted Margin %. Adjusted Margin is a non-IFRS measure defined as IFRS revenue adding back customer inducement costs recorded as a reduction of revenue, and deducting service costs primarily relating to sales to customers where the company acts as the principal.

The table below summarizes multi-year segment performance, sorted in descending order by fiscal year 2026 IFRS revenue:

Business Segment	Operating Performance Metric	Fiscal Year 2024 ($ in thousands)	Fiscal Year 2025 (inthousands)∣FiscalYear2026( in thousands)
Hotels and Packages	IFRS Revenue	$435,542	$520,411
	% of Total IFRS Revenue	55.66% (Calculated by FirmsWorld)	53.28% (Calculated by FirmsWorld)
	Add: Customer Inducement Costs	$123,695	$155,616
	Less: Service Costs	$(210,357)	$(246,550)
	Segment Adjusted Margin	$348,880	$429,477
	Segment Gross Bookings	$1,985,210	$2,417,425
	Adjusted Margin %	17.6%	17.8%
Air Ticketing	IFRS Revenue	$201,246	$239,948
	% of Total IFRS Revenue	25.72% (Calculated by FirmsWorld)	24.57% (Calculated by FirmsWorld)
	Add: Customer Inducement Costs	$116,423	$167,130
	Less: Service Costs	$0	$0
	Segment Adjusted Margin	$317,669	$407,078
	Segment Gross Bookings	$4,942,404	$5,867,918
	Adjusted Margin %	6.4%	7.0%
Bus Ticketing	IFRS Revenue	$92,693	$119,361
	% of Total IFRS Revenue	11.85% (Calculated by FirmsWorld)	12.22% (Calculated by FirmsWorld)
	Add: Customer Inducement Costs	$9,432	$11,606
	Less: Service Costs	$0	$0
	Segment Adjusted Margin	$102,125	$130,967
	Segment Gross Bookings	$1,026,807	$1,249,564
	Adjusted Margin %	9.9%	10.5%
Others Segment	IFRS Revenue	$53,043	$97,035
	% of Total IFRS Revenue	6.78% (Calculated by FirmsWorld)	9.93% (Calculated by FirmsWorld)
	Add: Customer Inducement Costs	$440	$2,789
	Less: Service Costs	$(4,732)	$(27,798)
	Segment Adjusted Margin	$48,751	$72,026
	Gross Bookings (Other Transport)	Omitted (Not Separately Disclosed)	$268,240
Total Consolidated	Total Consolidated IFRS Revenue	$782,524 (Calculated by FirmsWorld)	$976,755 (Calculated by FirmsWorld)
	Total Consolidated Adjusted Margin	$817,425 (Calculated by FirmsWorld)	$1,039,548 (Calculated by FirmsWorld)
	Total Consolidated Gross Bookings	$7,954,421	$9,803,147

Source: MakeMyTrip Limited Form 20-F Annual Report for the fiscal year ended March 31, 2026.

Hotels and Packages Segment

Hotels and Packages represents MakeMyTrip’s largest operating division by revenue, generating $533,063 thousand (50.98% of total revenue) in fiscal year 2026. The division manages room inventory across commercial hotels, budget properties, alternative accommodations, and holiday packages.

The operating model blends agency and principal accounting treatments. Standalone hotel bookings are recognized on a net agency basis upon guest check-in, with lodging suppliers retaining performance obligations.

Curated holiday packages are accounted for on a gross basis as principal, reflecting direct control over procured transport, accommodation, and excursion components.

• 43,528 thousand total room nights booked across the segment in fiscal year 2026, rising from 37,000 thousand in fiscal year 2025 and 31,111 thousand in fiscal year 2024.
• 42,540 thousand standalone room nights booked in fiscal year 2026, up from 36,039 thousand in fiscal year 2025 and 30,195 thousand in fiscal year 2024.
• $2,661,077 thousand in segment Gross Bookings generated in fiscal year 2026, delivering an Adjusted Margin % of 17.9%.

The division integrates accommodation supply through direct allocation extranets, switch connections linked to hotel central reservation systems, and third-party international aggregators. It also records corporate Meetings, Incentives, Conferences, and Exhibitions (MICE) bookings and promotional listing fees paid by hotel partners.

Air Ticketing Segment

Air Ticketing generated $241,529 thousand in IFRS revenue in fiscal year 2026, contributing 23.10% of consolidated group revenue. The division serves as a high-frequency customer acquisition channel for domestic and international flight itineraries.

Revenue is derived from base airline commissions, passenger convenience fees, volume-based Global Distribution System (GDS) incentive payments, airline performance targets, and supplier promotions.

Because partner airlines provide the underlying passenger transit, air ticketing transactions are accounted for on a net agency basis upon ticket issuance.

• 59,057 thousand total flight segments booked in fiscal year 2026, expanding from 58,701 thousand in fiscal year 2025 and 51,145 thousand in fiscal year 2024.
• 45,900 thousand domestic flight segments logged in fiscal year 2026, compared to 46,800 thousand in fiscal year 2025, reflecting domestic supply constraints.
• 13,200 thousand outbound international segments issued in fiscal year 2026, increasing from 11,900 thousand in fiscal year 2025 and 9,000 thousand in fiscal year 2024.
• Nearly 3 out of 10 domestic air passengers in India booked flights through the platform during fiscal year 2026, based on DGCA civil aviation statistics.

Segment Gross Bookings totaled $5,830,789 thousand in fiscal year 2026, delivering an Adjusted Margin of $373,092 thousand and an Adjusted Margin % of 6.4%. Inventory connects directly through GDS providers, airline direct connects, and IATA NDC protocols.

Bus Ticketing Segment

Bus Ticketing delivered $145,271 thousand in IFRS revenue in fiscal year 2026, representing 13.89% of consolidated revenue. Driven by the redBus operating unit, the segment manages intercity scheduled bus booking across India, Latin America, and Southeast Asia.

Operating revenue comprises operator commissions, service fees from state road transport corporations, passenger convenience fees, and third-party API licensing fees.

Effective from the quarter ended March 31, 2025, revenue recognition transitioned from the journey date to the ticket issuance date based on updated commercial agreements.

• 141,482 thousand bus tickets issued globally in fiscal year 2026, increasing from 106,483 thousand in fiscal year 2025 and 86,815 thousand in fiscal year 2024.
• 125,500 thousand bus tickets issued in India during fiscal year 2026, rising from 94,100 thousand in fiscal year 2025 and 76,700 thousand in fiscal year 2024.
• 16,000 thousand international bus tickets issued across Southeast Asia and Latin America during fiscal year 2026, up from 12,400 thousand in fiscal year 2025.
• $1,602,407 thousand in segment Gross Bookings logged in fiscal year 2026, generating an Adjusted Margin of $163,878 thousand at a 10.2% margin rate.

The platform aggregates services across more than 8,000 private bus operators globally and 25 Indian State Road Transport Corporations, working in tandem with Bitla Software’s inventory tools and the SeatSeller agency distribution network.

Others Segment

The Others segment generated $125,709 thousand in IFRS revenue in fiscal year 2026, representing 12.02% of consolidated revenue. The division aggregates surface transit modes, ancillary products, and corporate software services.

The operational scope covers outstation car hire via Savaari, railway ticketing through IRCTC, global tour bookings, retail foreign currency exchange and remittances via BookMyForex, corporate expense SaaS tools through Happay, and platform advertising.

• $94,899 thousand Adjusted Margin delivered by the Others segment in fiscal year 2026, expanding from $72,026 thousand in fiscal year 2025 and $48,751 thousand in fiscal year 2024.
• $296,569 thousand in Other Transport Gross Bookings (car rentals and rail ticketing) logged in fiscal year 2026, up from $268,240 thousand in fiscal year 2025.
• $32,988 thousand in service costs incurred during fiscal year 2026, representing fleet procurement expenses for Savaari’s gross-basis car rental operations.

Accounting models reflect operating roles. Savaari car rental bookings are recognized on a gross principal basis upon journey completion.

Rail bookings, advertising placements, platform travel insurance integration fees, and currency conversion fees are recognized on a net agency basis as services are rendered.

History and Evolution

MakeMyTrip was established in April 2000 by Deep Kalra as a Mauritius-incorporated company designed to service non-resident Indians traveling along the United States-India air travel corridor.

With the emergence of commercial internet infrastructure in India, the group launched its domestic portal, www.makemytrip.com, in September 2005, pioneering digital travel agency operations in the country.

• April 2000: Corporate incorporation in Mauritius; launched online travel booking operations for non-resident Indians in the United States.
• September 2005: Commercial debut of the MakeMyTrip India website, marking its formal entry into domestic Indian digital travel booking.
• December 2009: International expansion into the Middle East through the launch of www.makemytrip.ae in the United Arab Emirates.
• May 2011–2013: Acquired Singapore-based Luxury Tours & Travel Pte. Ltd., expanding Southeast Asian inbound and outbound tour capabilities.
• November 2012–2015: Acquired Thailand-focused hotel aggregator and tour operator ITC Bangkok Co., Ltd. (ITC Group).
• January 2017: Completed transformational combination with the ibibo Group (acquired from MIH Internet / Naspers), consolidating the Goibibo OTA and redBus intercity bus platform.
• July 2018: Acquired Bitla Software Private Limited, securing enterprise SaaS bus ticketing and logistics technology.
• April 2019–September 2023: Acquired an initial majority equity interest in Quest 2 Travel.com India Private Limited, followed by a buyout of the remaining equity in September 2023 to expand enterprise travel workflows.
• 2019: Launched “myBiz,” an enterprise travel booking and expense management channel for small and medium-sized enterprises.
• 2021: Formed wholly-owned subsidiary TripMoney Fintech Solutions Private Limited to develop specialized retail travel financial services.
• April 2022: TripMoney acquired a majority interest in BookMyForex Private Limited, adding retail foreign currency exchange, forex cards, and cross-border remittances.
• September 2022: Acquired a controlling majority equity interest in Simplotel Technologies Private Limited, a provider of direct booking software for hotels.
• February 2023: Realigned Indian corporate operations by transferring the Goibibo operating business from ibibo Group Private Limited to MakeMyTrip (India) Limited.
• December 2023: Acquired a majority equity stake in Savaari Car Rentals Private Limited to scale intercity outstation cabs and airport transit networks.
• February 2025: Acquired the “Happay” corporate travel and expense management business on a going concern basis.
• June 2025: Issued $1,437.5 million of 0.00% convertible senior notes due 2030 and completed an underwritten registered public offering of 18,400,000 ordinary shares for gross proceeds of $1,656.0 million.
• November 2025: Implemented technical compliance protocols across data processing stacks following the notification of the Indian Digital Personal Data Protection Act, 2023 and Rules, 2025.
• February 2026: Completed court-approved composite scheme of amalgamation merging redBus India Private Limited into MakeMyTrip (India) Limited, centralizing MakeMyTrip, Goibibo, and redBus within MMT India.
• March 2026: Acquired majority interest in Flamingo Transworld Private Limited and executed a strategic minority investment in visa platform Atlys.

Products and Services

MakeMyTrip offers an integrated catalog of travel products and services designed to serve consumers across the travel lifecycle.

The table below lists the group’s product lines, sorted by segment revenue contribution:

Product / Service Category	Segment Association	Accounting Basis	Disclosed FY 2026 Revenue ($ in thousands)	% of Total FY 2026 Revenue
Hotels & Accommodations	Hotels and Packages	Net Agency Basis (Date of Check-in)	Combined in Segment: $533,063	50.98% (Calculated by FirmsWorld)
Curated Holiday Packages	Hotels and Packages	Gross Principal Basis (Service Period)	Combined in Segment: $533,063	50.98% (Calculated by FirmsWorld)
Commercial Air Ticketing	Air Ticketing	Net Agency Basis (Ticket Issuance)	$241,529	23.10% (Calculated by FirmsWorld)
Intercity Bus Ticketing	Bus Ticketing	Net Agency Basis (Ticket Issuance)	$145,271	13.89% (Calculated by FirmsWorld)
Car Hire (Savaari & Cabs)	Others	Gross Principal (Savaari) / Net (Third-Party)	Combined in Segment: $125,709	12.02% (Calculated by FirmsWorld)
Rail Ticketing (IRCTC/redRail)	Others	Net Agency Basis (Ticket Issuance)	Combined in Segment: $125,709	12.02% (Calculated by FirmsWorld)
Tours and Attractions	Others	Net Agency Basis (Service Rendered)	Combined in Segment: $125,709	12.02% (Calculated by FirmsWorld)
Retail Forex & Remittances	Others	Net Transaction Fee Basis	Combined in Segment: $125,709	12.02% (Calculated by FirmsWorld)
Corporate Travel & Expense SaaS	Others	Net Service / Subscription Basis	Combined in Segment: $125,709	12.02% (Calculated by FirmsWorld)

Source: MakeMyTrip Limited Form 20-F Annual Report for the fiscal year ended March 31, 2026.

Standalone Lodging and Alternative Accommodations

MakeMyTrip offers reservations across commercial hotels, budget properties, luxury resorts, villas, serviced apartments, and homestays. The platform connects users to more than 1.4 million lodging properties globally, including 0.1 million domestic accommodations comprising more than 1.6 million rooms in India.

The catalog includes over 38,800 active homestays supported by local community partnerships. Features include “Book with Zero Payment,” which allows travelers to reserve rooms without upfront capital until 24 hours prior to scheduled check-in, supporting checkout conversion.

Holiday Packages and Curated Group Tours

The holiday packages division delivers domestic and international itineraries combining air transit, lodging, guided excursions, airport transfers, and local transport. Offerings serve families, honeymooners, pilgrimage groups, and experiential travelers.

The division also serves enterprise clients through dedicated Meetings, Incentives, Conferences, and Exhibitions (MICE) teams. In March 2026, the portfolio expanded through the majority acquisition of Flamingo Transworld, bringing specialized group departures across western and central India into the platform’s supply network.

Commercial Air Ticketing

The air ticketing segment allows travelers to search, compare, and book domestic and international flight itineraries. The booking engine integrates with domestic carriers and international airlines servicing India.

To differentiate from direct carrier websites, the platform offers value-added ancillary features such as “Zero Cancellation” (providing full refunds on bookings cancelled up to 24 hours before departure), “Free Date Change,” and “Price Lock” (allowing customers to hold selected fares for future booking).

Intercity Bus Transport Services

Operated through redBus, the intercity bus business provides scheduled bus ticketing across private operators and 25 Indian State Road Transport Corporations.

Travelers have access to over 90,000 daily services and roughly 3.5 million daily seats across India. The customer interface provides live vehicle tracking through the “YourBus” tool, seat layouts, verified customer vehicle photographs, and boarding point directions.

Platform features include safety-rated search filters for solo female travelers and flexible post-booking modification tools.

Outstation Car Hire and Airport Transfers

MakeMyTrip delivers ground taxi and car rental solutions through Savaari alongside on-demand airport cab transfers.

The service spans intercity round-trips, one-way outstation cab routes, and scheduled airport pick-up and drop-off networks across 3,000+ cities and towns and 150 commercial airports in India. Savaari bookings operate on a gross principal basis, with the company managing partner fleet quality standards.

Digital Rail Bookings

Rail services are delivered across MakeMyTrip, Goibibo, redBus, and the dedicated redRail application via direct connection to Indian Railways’ passenger reservation system through IRCTC web APIs.

The platform supports real-time train seat availability searches, PNR status tracking, waitlist prediction, and ticket issuance. Customers can also access “Trip/Seat Guarantee” features that provide alternative transit coverage if waitlisted train seats fail to confirm.

Tours, Experiences, and Attraction Ticketing

The group operates a digital marketplace for local sightseeing, excursions, theme park tickets, and curated cultural activities. The catalog spans more than 200,000 tours and attractions across 1,090 cities in 139 countries.

The platform focuses on cross-selling activities to travelers with confirmed outbound flight or lodging bookings, supported by localized content and instant mobile voucher issuance.

Retail Travel Financial and Ancillary Solutions

Through TripMoney and BookMyForex, the company provides foreign currency exchange, multi-currency prepaid cards, and cross-border remittances.

BookMyForex is licensed by the Reserve Bank of India (RBI) as a Full-Fledged Money Changer.

The platform also provides digital visa application services in partnership with Atlys, facilitates third-party travel insurance, and markets a co-branded credit card in partnership with ICICI Bank.

Brand Portfolio

MakeMyTrip maintains a multi-brand architecture designed to address distinct consumer demographics, income profiles, and travel use cases.

MakeMyTrip

MakeMyTrip operates as the group’s flagship full-service travel platform across premium air ticketing, accommodations, holiday packages, rail, cabs, and corporate travel. The brand maintains an omni-channel presence in India through digital platforms and 108 franchisee-owned travel stores.

Goibibo

Goibibo functions as an application-first consumer travel brand targeting value-seeking travelers and budget accommodations. The platform features the “goTribe” loyalty program, which had enrolled 2.4 million members by March 31, 2026, offering travel discounts, complimentary room upgrades, and seat selection benefits.

redBus

redBus serves as the dedicated surface transport platform across intercity bus ticketing and rail bookings. The platform integrates with Bitla Software, operates the SeatSeller travel agent booking portal, and maintains regional operating units in Latin America and Southeast Asia.

Savaari

Savaari provides intercity outstation cabs, one-way transfers, and airport connectivity across 3,000+ Indian cities and towns. The brand operates on a gross principal basis, managing commercial transit standards across partner vehicle fleets.

BookMyForex

BookMyForex operates as the retail travel foreign currency exchange brand within TripMoney. The company provides multi-currency cards, physical currency doorstep delivery, and cross-border remittances under an RBI Full-Fledged Money Changer license.

Happay

Acquired in February 2025, Happay functions as an enterprise corporate travel and expense management platform. The platform automates corporate card reconciliation, employee travel expense filing, approval routing, and policy compliance workflows.

myBiz

myBiz operates as MakeMyTrip’s integrated business travel channel for small and medium-sized enterprises. The platform provides travel policy enforcement, corporate payment methods, and automated reporting systems.

Quest2Travel

Quest2Travel provides corporate travel solutions designed for large enterprise organizations in India. The platform supports corporate travel booking, multi-tiered approval workflows, and centralized corporate billing systems.

Simplotel

Simplotel provides SaaS solutions and direct booking engine technology for independent hotels and hospitality chains. The platform helps hoteliers build responsive booking portals, manage inventory distribution, and increase direct website reservations.

Bitla Software

Bitla Software operates as a B2B travel technology provider delivering cloud-based inventory systems, passenger manifest management, bus GDS connections, and cargo logistics software for bus fleet operators.

Flamingo Transworld

Acquired in March 2026, Flamingo Transworld operates as an escorted group tour brand serving regional markets in Gujarat, Maharashtra, Rajasthan, and Madhya Pradesh. The company specializes in guided domestic and international group departures.

Geographical Presence

MakeMyTrip generates the vast majority of its consolidated revenue from domestic operations within India, while maintaining international commercial platforms in the Middle East, Southeast Asia, Latin America, and North America.

The table below outlines geographical revenue contribution, sorted by fiscal year 2026 revenue:

Geographic Territory	FY 2024 Revenue Contribution (%)	FY 2025 Revenue Contribution (%)	FY 2026 Revenue Contribution (%)	Calculated FY 2026 Revenue ($ in thousands)
India (Domestic Subsidiaries)	93.1%	92.9%	90.5%	$946,242.66 (Calculated by FirmsWorld)
International (Rest of World)	6.9% (Calculated by FirmsWorld)	7.1% (Calculated by FirmsWorld)	9.5% (Calculated by FirmsWorld)	$99,329.34 (Calculated by FirmsWorld)
Total Consolidated	100.0%	100.0%	100.0%	$1,045,572.00 (Calculated by FirmsWorld)

Source: MakeMyTrip Limited Form 20-F Annual Report for the fiscal year ended March 31, 2026.

Workforce deployment across the company’s twelve operational countries is summarized below:

Country of Operation	Employees as of March 31, 2024	Employees as of March 31, 2025	Employees as of March 31, 2026	Primary Operational Functions
India	4,289	4,840	5,221	Headquarters, Engineering, Product, Operations, Support
Thailand	82	82	85	Inbound Tour Operations, Lodging Procurement (ITC Group)
Singapore	68	70	66	Regional Holding Entity, Luxury Tours Agency Operations
Peru	53	35	36	redBus Latin America Bus Ticketing Support & Operations
Malaysia	27	33	36	redBus Southeast Asia Bus Ticketing Distribution
Indonesia	25	22	22	redBus Regional Ticketing Platform & Business Development
United Arab Emirates	15	16	10	MakeMyTrip UAE Commercial & Marketing Operations
Cambodia	1	6	9	redBus Ticketing Infrastructure & Regional Support
Colombia	9	8	8	redBus Latin America Ticketing Operations
Vietnam	6	7	8	redBus Regional Operations & Bus Supplier Integration
Saudi Arabia	0	1	3	MakeMyTrip KSA Commercial Platform Expansion
United States	2	2	3	MakeMyTrip Inc., US Agent for Service, Diaspora Marketing
Total Headcount	4,577	5,122	5,507	Global Consolidated Workforce

Source: MakeMyTrip Limited Form 20-F Annual Report for the fiscal year ended March 31, 2026.

India Operations

India is MakeMyTrip’s primary operational market, generating $946,242.66 thousand (90.5%) of consolidated revenue in fiscal year 2026 (Calculated by FirmsWorld). Activities are operated through MakeMyTrip (India) Limited from Gurugram, supported by engineering, product, and operations facilities in Bengaluru and Mumbai.

The domestic distribution network connects digital portals with 108 franchisee-owned travel stores and over 56,900 travel agents using the myPartner platform.

Middle East Operations (UAE and Saudi Arabia)

The Middle East represents a key international expansion market, supported by commercial and leisure travel corridors linking India with the Gulf Cooperation Council (GCC). MakeMyTrip launched its UAE platform (www.makemytrip.ae) in 2009, later adding mobile interfaces in Arabic and English.

In 2026, the group introduced localized portals for Saudi Arabia, including MakeMyTrip KSA web and mobile applications. In 2025, the company launched “MMT Global” to serve the Indian diaspora across the Middle East and the United Kingdom.

Southeast Asia Operations

Southeast Asian operations span Singapore, Thailand, Malaysia, Indonesia, Vietnam, and Cambodia. In Singapore, Luxury Tours provides inbound destination management, sightseeing excursions, and lodging aggregation. In Thailand, the ITC Group handles accommodation aggregation and local tours.

Intercity bus ticketing is driven by redBus, which began operations in Malaysia and Singapore before expanding to Indonesia in April 2018, Cambodia in March 2024, and Vietnam in April 2024.

Latin America Operations

MakeMyTrip established operations in Latin America following its 2017 acquisition of the ibibo Group, bringing redBus bus ticketing operations in Peru and Colombia into the organization.

The platform aggregates more than 12,100 bus services across Peru and Colombia, working with private operators through SeatSeller to digitize ticket bookings.

North America Operations

North American activities are conducted through MakeMyTrip Inc. in New York.

The entity acts as the company’s legal agent for service in the United States and markets air ticketing and holiday services to non-resident Indians and diaspora communities traveling on routes between North America and India.

Profit and Loss

MakeMyTrip prepares consolidated financial statements in accordance with IFRS Accounting Standards as issued by the IASB.

The table below presents disclosed profit and loss statement line items across the last three fiscal years:

Profit and Loss Statement Line Item	Fiscal Year Ended March 31, 2024 ($ in thousands)	Fiscal Year Ended March 31, 2025 (inthousands)∣FiscalYearEndedMarch31,2026( in thousands)
Hotels and Packages Revenue	$435,542	$520,411
Air Ticketing Revenue	$201,246	$239,948
Bus Ticketing Revenue	$92,693	$119,361
Others Revenue	$53,043	$97,035
Total Revenue as per IFRS	$782,524 (Calculated by FirmsWorld)	$976,755 (Calculated by FirmsWorld)
Add: Customer Inducement Costs (Hotels & Packages)	$123,695	$155,616
Add: Customer Inducement Costs (Air Ticketing)	$116,423	$167,130
Add: Customer Inducement Costs (Bus Ticketing)	$9,432	$11,606
Add: Customer Inducement Costs (Others)	$440	$2,789
Less: Service Cost (Hotels and Packages)	$(210,357)	$(246,550)
Less: Service Cost (Others / Savaari Car Hire)	$(4,732)	$(27,798)
Total Adjusted Margin (Segment Profitability Measure)	$817,425 (Calculated by FirmsWorld)	$1,039,548 (Calculated by FirmsWorld)
Impairment Provision for Advances (Go First Airline)	$10,000	$0
Dispute & Fraud Losses from Digital Payments	Omitted (Not Separately Disclosed)	Omitted (Not Separately Disclosed)

Source: MakeMyTrip Limited Form 20-F Annual Report for the fiscal year ended March 31, 2026.

• Customer Inducement Costs totaled $336,950 thousand across the group in fiscal year 2026 (Calculated by FirmsWorld), recorded as a direct reduction of revenue.
• Service Costs totaled $273,851 thousand across the platform in fiscal year 2026 (Calculated by FirmsWorld), representing procurement costs for holiday packages and Savaari car rentals.
• A 10.0% appreciation or depreciation of the US dollar against the Indian Rupee as of March 31, 2026 would impact net profit for the year by $22.6 million.

Personnel expenses include base salaries, employee welfare expenses, contributions to mandatory retirement provident funds, and equity-settled share-based payment compensation. Disclosures confirm that employee benefits expense decreased as a percentage of total income over the past three fiscal years, demonstrating operational leverage as Gross Bookings expanded.

Balance Sheet

MakeMyTrip’s capital architecture combines an equity base expanded by public offerings with zero-coupon convertible senior notes.

The company’s presentation currency is the US dollar, while the functional currency of its Indian operating entities is the Indian Rupee. Assets and liabilities of foreign subsidiaries are translated into US dollars at exchange rates on the reporting date.

The table below presents the disclosed balance sheet and capital items as of March 31, 2026:

Disclosed Capital and Indebtedness Line Item	Reported Balance as of March 31, 2026	Structural Terms / Governance Specifications
Total Outstanding Loans and Borrowings	$1,405.6 million	Consolidated carrying value of debt liabilities
0.00% Convertible Senior Notes due 2028	$230.0 million aggregate principal	0.00% coupon; maturity date: February 15, 2028
0.00% Convertible Senior Notes due 2030	$1,437.5 million aggregate principal	0.00% coupon; maturity date: July 1, 2030; put date: July 3, 2028
Ordinary Shares Issued & Outstanding	90,448,984 shares	Par value $0.0005 per share
Treasury Shares Held	1,686,012 shares	Par value $0.0005 per share (included in ordinary shares)
Class B Convertible Ordinary Shares	5,295,690 shares	Par value $0.0005 per share; held by Trip.com Group Limited
Antitrust Penalty Provision (CCI Proceeding)	Rs. 2,234.8 million ($23.8 million)	Under appeal before the NCLAT

Source: MakeMyTrip Limited Form 20-F Annual Report for the fiscal year ended March 31, 2026.

The group’s indebtedness consists of zero-coupon convertible senior notes:

• 2028 Convertible Senior Notes: Issued in February 2021 with an aggregate principal amount of $230.0 million at a 0.00% coupon rate, maturing February 15, 2028. Noteholders maintain the right to require repurchase upon the occurrence of a fundamental change at 100% of principal.
• 2030 Convertible Senior Notes: Issued in June 2025 with an aggregate principal amount of $1,437.5 million at a 0.00% coupon rate, maturing July 1, 2030. Noteholders hold the option to require repurchase on July 3, 2028, or upon a fundamental change, at 100% of principal.
• June 2025 Public Equity Offering: Issued 18,400,000 ordinary shares in an underwritten registered public offering, generating $1,656.0 million in gross proceeds.

Cash Flow

MakeMyTrip generates operational liquidity through passenger booking payments, agency commissions, and capital raised through debt and equity issuances.

The travel booking business model features negative working capital characteristics in its net agency verticals, collecting passenger booking payments before remitting net supplier disbursements on agreed settlement cycles.

The table below outlines disclosed capital financing and cash activity:

Disclosed Financing and Capital Allocation Event	Execution Period	Capital Flow Value ($ in thousands)	Structural Terms / Allocations
Gross Proceeds: Registered Public Equity Offering	June 2025	$1,656,000	Issuance of 18,400,000 ordinary shares
Gross Proceeds: 0.00% 2030 Convertible Senior Notes	June 2025	$1,437,500	Zero-coupon notes due July 1, 2030
Cash Dividends Paid to Ordinary Shareholders	Inception to FY 2026	$0	No cash dividends declared or distributed

Source: MakeMyTrip Limited Form 20-F Annual Report for the fiscal year ended March 31, 2026.

The group monitors Free Cash Flow (a non-IFRS measure) to evaluate liquidity, defined as net cash generated from operating activities less capital expenditures. Free Cash Flow excludes the impact of debt issuances, note repurchases, equity offerings, and dividend distributions.

The company has not declared or paid cash dividends on its ordinary shares since inception.

Board of Directors and Leadership Team

MakeMyTrip operates under corporate governance frameworks applicable to foreign private issuers incorporated in Mauritius.

The company follows home country practices under the Mauritius Companies Act 2001 in lieu of certain Nasdaq Marketplace Rules, including exemptions regarding board independence majorities, audit committee size minimums, executive sessions, and shareholder approval requirements for share incentive plan amendments.

Executive Leadership Profiles

• Deep Kalra (Founder, Group Chairman, and Chief Mentor): Founded MakeMyTrip in 2000. Kalra guided the group’s corporate evolution, its August 2010 initial public offering on the Nasdaq Global Market, and multiple transformational mergers. In his executive role, he oversees long-term strategy, leadership mentorship, board governance, and group ESG initiatives.
• Rajesh Magow (Co-founder, Director, and Group Chief Executive Officer): Co-founder of MakeMyTrip, Magow previously served in leadership roles across finance and operations, including Group Chief Financial Officer and CEO of India operations, before assuming the Group CEO role. He oversees commercial strategy, technology deployments, platform operations, and M&A integration.
• Mohit Kabra (Group Chief Operating Officer): Oversees day-to-day operations, cross-vertical integration, distribution partnerships, and scaling across business divisions.
• Dipak Kumar Bohra (Group Chief Financial Officer): Serves as the executive contact for SEC regulatory filings and leads group finance, treasury, capital markets, accounting, and internal controls.

Board Governance and Shareholder Rights: Trip.com Group Limited

The composition of the board is governed by the Amended and Restated Trip.com Investor Rights Agreement.

Trip.com Group Limited holds 100% of the Class B convertible ordinary shares and 12.14% of ordinary shares, representing 17.08% of total voting power as of March 31, 2026.

• Director Nominations: Trip.com is entitled to nominate two directors to MakeMyTrip’s board of directors. Trip.com retains proportional director nomination rights as long as it holds at least 10% of issued voting securities.
• Independent Director Selection: One independent director must be appointed from a pool recommended by Trip.com and approved by Deep Kalra and Rajesh Magow. A majority of independent directors must be approved jointly by Kalra, Magow, and a majority of Trip.com-nominated directors.
• Casting Vote & Reserved Matters: A Trip.com-designated director holds the casting vote otherwise assigned to the board chairman under Article 114 of the Constitution. Key strategic actions (“Reserved Matters”) require affirmative approval from both a majority of the full board and a majority of Class B directors.
• IPO Waiver for MMT India: On July 6, 2026, Trip.com executed a letter waiving its special reserved rights over MMT India and its operating subsidiaries, effective upon the proposed initial public offering and listing of equity shares of MakeMyTrip (India) Limited in India.

Subsidiaries, Associates, Joint Ventures

MakeMyTrip Limited operates as an international holding company through direct and indirect operating subsidiaries.

Following the corporate amalgamation effective February 1, 2026, primary domestic Indian businesses—MakeMyTrip, Goibibo, and redBus India—are unified under MakeMyTrip (India) Limited.

The table below lists the group’s disclosed legal operating entities:

Subsidiary Entity Legal Name	Place of Formation	Equity Ownership %	Immediate Parent Holding Body	Primary Operational Purpose
MakeMyTrip (India) Limited	India	100.0% (63.6% MMYT Ltd / 36.4% ibibo Group)	MakeMyTrip Limited & ibibo Group Holdings	Primary Indian Operating Platform (MMT, Goibibo, redBus)
MakeMyTrip Inc.	Delaware, USA	100.0%	MakeMyTrip Limited	US NRI Marketing, Support, US Agent for Service
Luxury Tours & Travel Pte. Ltd.	Singapore	100.0%	MakeMyTrip Limited	Inbound/Outbound Travel Agency, Regional Excursions
Ibibo Group Holdings (Singapore) Pte. Ltd.	Singapore	100.0%	MakeMyTrip Limited	International Holding Entity for Regional Operating Units
ITC Bangkok Co., Ltd. (ITC Group)	Thailand	100.0%	MakeMyTrip Limited	Hotel Aggregator, Inbound Tour Operator in Thailand
Ibibo Services FZ-LLC	UAE	100.0%	MakeMyTrip Limited	Free Zone Digital Operations & Services Provider
TripMoney Fintech Solutions Pvt. Ltd.	India	100.0%	MakeMyTrip Limited	Travel Fintech Products, Insurance Facilitation
Bitla Software Private Limited	India	100.0%	MakeMyTrip (India) Limited	SaaS Bus Ticketing & Logistics Tech for Operators
Quest 2 Travel.com India Pvt. Ltd.	India	100.0%	MakeMyTrip (India) Limited	Enterprise Corporate Travel Booking Management
Hotelcloud Services Private Limited	India	100.0%	MakeMyTrip (India) Limited	Enterprise Corporate Lodging Aggregation
MakeMyTrip Travel & Tourism L.L.C	UAE	100.0%	MakeMyTrip (India) Limited	Commercial Travel Operations in the UAE
MakeMyTrip Travel (Thailand) Co., Ltd.	Thailand	100.0%	MakeMyTrip Travel & Tourism L.L.C (UAE)	Regional Commercial & Travel Operating Entity
Ibibo Group Pte. Ltd.	Singapore	100.0%	Ibibo Group Holdings (Singapore) Pte. Ltd.	Regional Operating & International redBus Hub
BookMyForex Private Limited	India	Majority Owned	TripMoney Fintech Solutions Pvt. Ltd.	RBI-Licensed Full-Fledged Money Changer, Forex
Savaari Car Rentals Private Limited	India	Majority Owned	MakeMyTrip (India) Limited	Outstation Taxi, Chauffeur Car Rentals, Airport Transit
Flamingo Transworld Private Limited	India	Majority Owned	MakeMyTrip (India) Limited	Curated Domestic & International Group Holiday Packages
Simplotel Technologies Private Limited	India	Majority Owned	MakeMyTrip Group Network	Hotel Direct Booking Engines, SaaS E-Commerce Tools
Flamingo Travels Inc.	USA	Indirect Subsidiary	Flamingo Transworld Private Limited	International Group Tour Coordination

Source: MakeMyTrip Limited Form 20-F Annual Report for the fiscal year ended March 31, 2026.

Other Investments (Including Minority / Portfolio Holdings)

MakeMyTrip makes selective minority equity investments to complement platform capabilities in travel documentation, hospitality technology, and ancillary services.

The table below outlines disclosed minority holdings and historical investment outcomes:

Disclosed Investee Organization	Legal Jurisdiction	Holding Type / Investment Classification	Operating Focus / Commercial Synergy	Historical Accounting Events
Atlys	United States / India	Strategic Minority Equity Interest	Digital Visa Processing & Documentation Platform	Completed in March 2026; integrated commercial partnership
Hotel Travel Group	Thailand / Regional	Historical 2012 Acquisition	Regional Online Travel Agency	Goodwill impairment of $14.6 million recognized in FY 2017

Source: MakeMyTrip Limited Form 20-F Annual Report for the fiscal year ended March 31, 2026.

Atlys Strategic Investment

In March 2026, MakeMyTrip completed a strategic minority equity investment in Atlys, entering into an integrated commercial partnership.

Atlys operates a digital visa processing platform that enables travelers to research destination visa requirements, submit digital documentation, track consulate applications, and secure travel visas.

MakeMyTrip integrates Atlys’s visa workflows directly into checkout paths for outbound international air and holiday bookings, addressing visa-processing friction for Indian passport holders.

Physical Properties

MakeMyTrip operates an asset-light corporate model, leasing administrative offices and engineering centers across key urban centers in India while utilizing third-party external hyperscalers for compute infrastructure.

• Gurugram Principal Executive Offices: 19th Floor, Building No. 5, DLF Cyber City, Gurugram, India, 122002. Encompasses approximately 170,212 square feet of leased administrative and operational space. The corporate headquarters is situated in a LEED (Leadership in Energy and Environmental Design) certified commercial complex.
• Bengaluru Technology Operations Facility: Leased commercial office facilities covering approximately 55,780 square feet, housing engineering, product development, and customer experience personnel for MakeMyTrip and Goibibo.
• Bengaluru redBus Facilities: Managed serviced office facilities leased in Bengaluru, serving as the central engineering, operations, and logistics center for redBus and Bitla Software.
• Retail Franchise Store Network: 108 franchisee-owned travel stores operating across India as of March 31, 2026. Franchisees operate under five-year non-exclusive agreements granting revocable licenses to market MakeMyTrip branded packages.
• Data Center Infrastructure: Primary compute systems run across external and internal data center facilities located in Mumbai, Bengaluru, and Gurugram. External operations utilize cloud hyperscalers across multiple availability zones in the Mumbai region. Internal enterprise data pipelines are hosted within an independent, isolated internal data center.

Founders

MakeMyTrip was founded in April 2000 by Deep Kalra, who was later joined by co-founder Rajesh Magow.

The founders built the organization around shifting consumer preferences toward digital interfaces for transport and lodging reservations.

• Deep Kalra: Founder, Group Chairman, and Chief Mentor. Kalra guided the business through its early development, its August 2010 initial public offering on the Nasdaq Global Market, and multiple transformational mergers. In his executive role, he focuses on long-term strategy, leadership mentorship, board governance, and group ESG initiatives.
• Rajesh Magow: Co-founder, Director, and Group Chief Executive Officer. Magow previously served in executive leadership roles across finance and operations, including Group Chief Financial Officer and CEO of India operations, before assuming the Group CEO role. He leads day-to-day operations, technology deployments, M&A integration, and capital allocation.

Parent Company

The ultimate holding company of the group is MakeMyTrip Limited, a public limited company incorporated in Mauritius on April 28, 2000 (Company No. 24478/5832).

The parent holds a Global Business License issued by the Financial Services Commission of Mauritius and operates as a Mauritius Global Business Company (GBC). It is tax resident in Mauritius, governed by the Mauritius Income Tax Act 1995, which levies a corporate income tax of 15% plus a 2% Corporate Climate Responsibility (CCR) levy.

• Registered Office: c/o IQ EQ Corporate Services (Mauritius) Limited, 33, Edith Cavell Street, Port Louis, Republic of Mauritius, 11324.
• Tax Residence Status: Holds specific Tax Residence Certificates valid through May 4, 2027 (India-Mauritius Double Tax Avoidance Treaty) and May 8, 2027 (general all jurisdictions) issued by the Mauritius Revenue Authority.
• Operational Function: Functions as a holding company, relying on dividends, equity distributions, and management fees paid by operating subsidiaries—principally MakeMyTrip (India) Limited—to fund corporate obligations. As of March 31, 2026, no cash dividends have been paid by operating subsidiaries to the parent.

Investments and Capital Expenditure Plans

MakeMyTrip directs capital into four primary areas: software and platform infrastructure, artificial intelligence integration, security and regulatory compliance, and selective corporate acquisitions.

• Platform Scalability & Cloud Microservices: Ongoing investment in decoupled, modular software architectures running across virtual machines and hyperscalers. The architecture is designed to handle spikes in transaction volume without proportional infrastructure costs.
• Artificial Intelligence & Conversational UI (Myra): Development of conversational agentic AI tools. Myra integrates foundational and small language models to resolve customer queries and curate multi-modal travel bookings in English, Arabic, and seven Indian languages.
• Cybersecurity and Data Compliance: Capital allocated toward ISO/IEC 27001:2022 certifications, PCI-DSS compliance, and system adjustments required by the Digital Personal Data Protection Act, 2023. Systems incorporate AES-256 encryption for data at rest and in transit.
• Strategic Acquisitions & Vertical Expansion: The company deploys balance sheet capital to acquire majority control of businesses in adjacent travel verticals, such as Savaari, Happay, and Flamingo Transworld, alongside minority technology investments like Atlys.

Shareholding Pattern

The company’s authorized and issued share capital comprises two distinct classes of equity: Ordinary Shares and Class B Convertible Ordinary Shares.

Both classes carry a par value of $0.0005 per share.

The table below outlines the company’s equity capital base as of March 31, 2026:

Equity Classification / Shareholder	Disclosed Shares Outstanding	Class of Shares	Voting Rights Percentage
Trip.com Group Limited	5,295,690 shares	Class B Convertible Ordinary Shares	100.0% of Class B shares
Trip.com Group Limited	10,777,698 shares (Calculated by FirmsWorld)	Ordinary Shares	12.14% of ordinary shares (17.08% total voting rights)
Public & Other Shareholders	77,985,274 shares (Calculated by FirmsWorld)	Ordinary Shares	87.86% of ordinary shares (Calculated by FirmsWorld)
Treasury Shares	1,686,012 shares	Ordinary Shares	0.00% of voting rights
Total Issued Share Base	95,744,674 shares (Calculated by FirmsWorld)	Combined Equity Capital Base	100.0% of issued capital

Source: MakeMyTrip Limited Form 20-F Annual Report for the fiscal year ended March 31, 2026.

Shareholder Governance: Trip.com Group Limited

Trip.com is MakeMyTrip’s largest strategic shareholder. Under the Amended and Restated Trip.com Investor Rights Agreement:

• Trip.com holds the contractual right to purchase up to 74.9% of outstanding ordinary shares via open-market or negotiated transactions.
• Trip.com holds proportional board nomination rights, maintaining two board seats as of March 31, 2026.
• Class B Shares convert into ordinary shares on a one-for-one basis, subject to regulatory approvals under Indian foreign investment (FDI/FEMA) rules.
• In July 2026, Trip.com waived its special governance vetoes over MMT India to facilitate the proposed domestic listing and initial public offering of MakeMyTrip (India) Limited.

Future Strategy

MakeMyTrip’s corporate growth strategy centers on four operational pillars detailed in executive disclosures:

• Deepening Penetration in Tier II and Tier III Indian Markets: Expanding beyond metropolitan urban centers by deploying vernacular language tools, voice-led interfaces, and localized ground transit options. More than 60% of daily conversational volume on the Myra AI assistant currently originates from Tier II and Tier III cities.
• Accelerating Margin Expansion via Lodging & Packages: Growing the Hotels and Packages segment, which provides a higher Adjusted Margin % (17.9% in FY 2026) than air ticketing (6.4%). The strategy involves expanding homestays, alternative lodging, direct supplier extranets, and curated group departures via Flamingo Transworld.
• Expanding International Travel Corridors: Growing market share along outbound international routes from India, while localizing product offerings within the Middle East. Initiatives include scaling www.makemytrip.ae in the UAE, expanding the MakeMyTrip KSA portal in Saudi Arabia, and catering to the global Indian diaspora through the MMT Global platform.
• Scaling Enterprise Travel & Corporate SaaS: Growing corporate travel market share across large enterprises and SMBs through myBiz, Quest2Travel, and Happay. The strategy integrates booking engines directly into corporate ERP, human resource management systems, and centralized expense approval workflows.

Key Strengths

MakeMyTrip’s market position is supported by operational and technological advantages disclosed in company reporting:

• Established Scale and Brand Recognition: The group operates three consumer brands—MakeMyTrip, Goibibo, and redBus—that address diverse traveler demographics and price points. The platform captured nearly 3 out of 10 domestic air passengers in India during fiscal year 2026.
• High Customer Repeat Rates and Engagement: Active individual customers logged an average of 4.2 booking transactions during fiscal year 2026, generating a repeat transaction rate of 78.4%. The MMTBLACK and goTribe loyalty programs have enrolled a combined 4.3 million members.
• Cross-Selling and Ecosystem Synergies: Product integration drives cross-category bookings across transport, accommodation, and ancillary services. In fiscal year 2026, 50.9% of customers who booked hotels also purchased flights, packages, or ground transit on the platform. Ancillary attachment rates reached 50.6% among flight and hotel customers.
• Omni-Channel Distribution Network: Digital distribution is complemented by an offline network comprising 108 franchisee-owned travel stores and over 56,900 registered travel agents on the myPartner B2B2C portal. Mobile applications generated 81.3% of total booking volume in fiscal year 2026.
• Decoupled, Modular Technology Architecture: The platform’s microservices stack separates inventory, booking engines, user management, and payment gateways into isolated layers. This modular architecture allows the system to scale individual components during peak periods, processing an average of 285 transactions per minute in fiscal year 2026.