Ixigo eyes Rs 1812 crore GMV this fiscal

The projections come even as the country’s two largest online travel operators, Nasdaq-listed Make-MyTrip and Yatra, recorded strong numbers for the three months ended September 30.

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The two Ixigo apps and its website have, in total, 21million monthly active users.
NEW DELHI: Travel meta search company Ixigo has projected gross transactions of $250 million (about Rs 1812 crore) by the end of the current financial year, with the Fosun International, MakeMyTrip and Sequoia Capital-backed venture betting on its dual app strategy to drive growth.

The projections come even as the country’s two largest online travel operators, Nasdaq-listed Make-MyTrip and Yatra, which cumulatively control over 80% of the online travel market in India, recorded strong numbers for the three months ended September 30.

“In FY 2017-18, we did GMV of $100 million, and in the year before that (FY 2016-17), we had done $25 million. Next year, we should comfortably exceed $500 million,” Aloke Bajpai, CEO of Ixigo, told ET.


The growth, according to the CEO of the decade-old company, is being led by a combination of greater acceptance by consumers and the company’s decision last year to start monetising its railway and bus-ticketing app.

While Ixigo’s flagship air travel and hotel reservation app continues to target consumers emanating from tier-I cities, the railway app has been projected for the budget traveller, which allows the company to cross-sell low-cost hotels and flights to the value-conscious consumer. “Even though the revenue contribution from the train app might be much less, in terms of transactions, it is doing much more than the flight app. The transaction growth is more than three times in certain categories, year-on-year,” Bajpai said.

The two Ixigo apps and its website have, in total, 21 million monthly active users, Bajpai said, adding that the company crossed a million passengers booked, across both its apps, in October.
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According to him, Ixigo, which is currently in the market to raise $50-75 million in fresh funding, expects to finish FY 2019 with net revenue of Rs 120-150 crore, up from Rs 69 crore in financial year 2017-18.
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