Makemytrip.com targets Rs 1,000 cr biz

Make My Trip.com, an online travel company, said it is likely to break even this fiscal and expects to double its online transactions as well as turnover.

Keyur Joshi, co founder and chief operating officer, said the company expects to double its turnover as well as the number of total air tickets and travel transaction this financial year.

The company clocked a turnover of Rs 550 crore in the financial year 2006-07. This fiscal year the company aims to double the turnover to touch Rs 1,000 crore.

The total number of online transactions were seven lakh and the company expects to double the number of transactions this year. Presently, the company has a market share of 35-40 per cent in the online travel industry business in India.

Make My Trip.com, believes that the biggest impetus that its business will receive is from hotel and tourism segment. "The next big push will be for us in hotel and tourism segment," added Joshi.

According to the company, online travel booking company has not tapped hotels in domestic tourism.

Presently, the company has generated 80 per cent revenue from air tickets and 20 per cent from hotel and travel segment. The company will soon start marketing its new business model where it will be providing online booking for hotels.

On Friday, the company launched its operations in Ahmedabad. Speaking on the occasion, Joshi said, "Presently, around 2 per cent of our online business comes from Gujarat."

The company believes that Europe and the Far East have emerged as preferred holiday destinations for travellers from Gujarat. It also aims to increase its 2 per cent online business share from Gujarat to 10 per cent in the next two years.

The company has five branches all over the country. Make My Trip.com set up its Indian operations in September 2005 after four years of profitable operations in the US.