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MakeMyTrip.com eyeing a turnover of Rs 1,250 crore in 2007-08

Joy Roy Choudhury - Kolkata

MakeMyTrip.com, the country's leading online travel company is eyeing a turnover of Rs 1,250 crore by the end of March 2008. The company's total revenue crossed Rs 562 crore in the last financial year.

Deep Kalra, founder & CEO, MakeMyTrip.com said, "Estimates show by 2008, 40 per cent of the air-ticketing business will be online and 15-20 per cent of other travel-related business will be online." Kalra was in Kolkata recently to formally launch the Kolkata office of MakeMyTrip.com.

Commenting on the launch of its Kolkata operations Kalra said, "Kolkata, in its capacity as a commercial hub for the Eastern market, presents a huge opportunity to travel solutions providers. The travel & tourism market here has been growing at 20-25 per cent year on year and is expected to be worth Rs 2,073 crore over the next three years." At 40 per cent year on year growth, the online travel industry is growing at a rapid pace, and is estimated to be worth US$ 2 billion by 2008. The travel boom, emergence of low cost carriers, proliferation of the internet and the growing acceptance of e-commerce over the last few years, are key factors that have fuelled the growth of this sector. About the travel trends in the local market, Kalra added, "The leisure market in Kolkata is set to witness an upswing, the share of leisure travel will grow to 48 per cent from the current 40 per cent in the next three years."

Elaborating on the need to open physical offices for an online travel company, Kalra believes, "It is needed to cater to the customers who require greater involvement in the purchase process and provide human interface to access the choices provided on the websites." While ticketing and hotel room bookings are done over the internet, buying holiday packages needs constant guidance, Kalra said. "We are increasing our presence through new offices," he said. Besides, Kolkata, the company has regional offices in New York, Bangalore, Ahmedabad and Mumbai. It is headquartered in New Delhi. Furthermore, the portal is also in talks with Union Ministry of Railways to sell rail-tickets over the internet, which was confirmed by Keyur Joshi, the portal's co-founder & COO.

Responding to a query on whether the company has any plans to go public, Joshi did not rule out the possibility in the distant future. "But at present there are no such plans," he concluded.