Travel services provider MakeMytrip has said it is looking at 32 per cent growth in revenues at nearly Rs 560 crore in the current fiscal on account of new initiatives for expansion. "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," said Deep Kalra, Founder and CEO,
MakeMytrip. The company is also planning to reduce its dependence on the air division business and strengthen its hotels and packages segment. "We plan to enhance the revenues from hotels and packages to be nearly 50 per cent of the total in next four years. It is time we give more focus on the non-air side of the business," he added. The focus on hotels and packages is necessitated because of higher margins and long term defensibility of the segment, Kalra said. The travel firm that picked up stake in three companies last year said it is on the lookout for enhancing its product offerings. "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," Kalra said, according to a PTI report. In August last year, the firm along with SAIF Partners had bought 76.6 per cent stake for USD 18.5 million in Le Travenues Technology, which operates online travel search engine www.ixigo.com. In May 2011, the company had acquired 79 per cent equity stake in Singapore-based Luxury Tours & Travel Pte Ltd for USD three million. It had also picked 29 per cent stake in Delhi-based My Guest House Accommodations (MGH) for around USD one million.
Click here to see the original article>MakeMytrip. The company is also planning to reduce its dependence on the air division business and strengthen its hotels and packages segment. "We plan to enhance the revenues from hotels and packages to be nearly 50 per cent of the total in next four years. It is time we give more focus on the non-air side of the business," he added. The focus on hotels and packages is necessitated because of higher margins and long term defensibility of the segment, Kalra said. The travel firm that picked up stake in three companies last year said it is on the lookout for enhancing its product offerings. "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," Kalra said, according to a PTI report. In August last year, the firm along with SAIF Partners had bought 76.6 per cent stake for USD 18.5 million in Le Travenues Technology, which operates online travel search engine www.ixigo.com. In May 2011, the company had acquired 79 per cent equity stake in Singapore-based Luxury Tours & Travel Pte Ltd for USD three million. It had also picked 29 per cent stake in Delhi-based My Guest House Accommodations (MGH) for around USD one million.