Popular travel service provider, MakeMyTrip on July 4, 2012 said that it is looking at 32 percent growth in revenues which is nearly at ₹620 crores in the current fiscal. The travel service company said that that it expects the growth on account of the new initiatives on expansion.
Deep Kalra, the MakeMyTrip founder and CEO said, “We are aiming at a growth between 30-32 per cent for FY’13 on account of the initiatives for both organic and inorganic expansion”. The company last year had picked up stake in three companies.
MakeMyTrip also said that it is looking forward to expand its product offerings. Kalra added, “With USD 88 million on balance sheet and with zero debt we are always looking for acquisitions. We are mainly looking for small and medium size companies”. In the month of August last, the company along with SAIF partners bought 76,6 percent stake for USD 18.5 million in Le Travenues Technology which operates the online travel search engine ixigo.
Even in May 2011, the company acquired 79 percent equity stake in Singapore based Luxury Tours and Travels Pte Ltd for USD 3 million. Meanwhile MakeMyTrip is also trying to reduce its dependence on the air side of the business and strengthen its hotel and packages segment.