Gurgaon-headquartered ixigo (Le Travenues Technology Limited), has registered a 5x growth in business in the post Covid 19 pandemic reality. The start-up is now eying for a 40 per cent increase in revenues by the end of the financial year (FY) 2024.
As travel is getting back to its feet after Covid-19, the company is projecting to take its business to Rs 700 crore in FY2024. It is profitable and has achieved seven per cent EBITDA FY203.
The travel tech platform earned more than Rs 500 crore in revenues from operations. It registered a 5x growth in scale compared to its pre-covid business. Its gross transaction value run rate is Rs 10,000 crore a year and it is planning to surge it by 2x in the next two years.
As of March 2024, the company has crossed 66 million monthly active users across ixigo, ConfirmTkt & AbhiBus. It claims to have over six million daily active users and eying to grow at a vertical of more than 8 million.
Talking about the latest achievements, Aloke Bajpai, Group CEO and Co-founder of ixigo, said, “ Our strategy of focusing on the next billion users has resulted in not just rapid growth in the last three years, but also an expansion in our EBITDA margin and strong operating cash-flows. We have crossed a seven per cent EBITDA margin and want to maintain the growth momentum this fiscal year as we target double-digit EBITDA margins next year. With the government’s focus on infrastructure and capacity creation across airports, trains and roads in India, we are confident of maintaining strong growth across transportation segments and solidifying our position as the leader in the next billion-user travel segment."