Before we take you all through the quarter details, I would like to step back a bit and remind everyone about some fundamental structural changes that have emerged post-COVID that has been shaping the travel market in India.
May 19, 2026 / CEO / receipt, needs a key / Rajesh Mago, CEO | earnings call 2026-05-19 | transcript 8fd518ac-2d36-4f99-b5a3-12cdede12750 | chars 1745-1969 | segment 1
Encouraged by structural changes in the market and consumer behavior to spend more on travel, We remain confident of revenue growth in the 20s during normal periods and when external headwinds arise, we rely on the strength and resilience of our platform, which offers multiple travel services, serves diverse demand segments to still deliver healthy growth compared to the industry.
May 19, 2026 / CEO / receipt, needs a key / Rajesh Mago, CEO | earnings call 2026-05-19 | transcript 8fd518ac-2d36-4f99-b5a3-12cdede12750 | chars 7912-8295 | segment 7
Second, Travel has shifted from occasion to habit. Our data shows booking frequency per user is rising year on year. Indians are no longer saving up for one big annual holiday. They are taking multiple trips a year. Three to six trips a year across leisure, religious, and extended weekend categories is becoming the new normal for India's connected earning class.
May 19, 2026 / CEO / receipt, needs a key / Rajesh Mago, CEO | earnings call 2026-05-19 | transcript 8fd518ac-2d36-4f99-b5a3-12cdede12750 | chars 3331-3695 | segment 3
As per Gollingen International's 2024 research, Indian millennials' annual travel spend was at about $6,000, making travel their single largest discretionary expense at 34% of annual spending.
May 19, 2026 / CEO / receipt, needs a key / Rajesh Mago, CEO | earnings call 2026-05-19 | transcript 8fd518ac-2d36-4f99-b5a3-12cdede12750 | chars 3838-4030 | segment 3
The festive season and a series of long weekends fueled this demand momentum, reinforcing our belief in the emerging trend of Indian travelers' desire to spend more on travel.
Jan 21, 2026 / CEO / receipt, needs a key / Rajesh Mago, CEO | earnings call 2026-01-21 | transcript 95dcb22b-1b1c-4cd9-b3f2-afda753140e3 | chars 1993-2168 | segment 2
Besides, following our one-stop shop strategy with a view to meet all travel and travel-related needs on our platform, We have now expanded our product offerings with the recent launch of tours and activities, giving Indian travelers access to over 200,000 bookable activities across 1,100 cities in 130 countries worldwide.
Jan 21, 2026 / CEO / receipt, needs a key / Rajesh Mago, CEO | earnings call 2026-01-21 | transcript 95dcb22b-1b1c-4cd9-b3f2-afda753140e3 | chars 4599-4923 | segment 4
International outbound travel from India presents a significant growth opportunity. We remain focused on growing this segment.
Jan 21, 2026 / CEO / receipt, needs a key / Rajesh Mago, CEO | earnings call 2026-01-21 | transcript 95dcb22b-1b1c-4cd9-b3f2-afda753140e3 | chars 5996-6122 | segment 6
Our holiday packages business witnessed strong seasonal performance as well. During the quarter, we successfully operated MakeMyTrip chartered flight packages to Phu Quoc in Vietnam, thereby unlocking the potential in an unexplored destination for our outbound travelers.
Jan 21, 2026 / CEO / receipt, needs a key / Rajesh Mago, CEO | earnings call 2026-01-21 | transcript 95dcb22b-1b1c-4cd9-b3f2-afda753140e3 | chars 8930-9201 | segment 9
Our bus ticketing business witnessed strong growth in Q3, aided by festive and holiday travel with all regions growing in double digits.
Jan 21, 2026 / CEO / receipt, needs a key / Rajesh Mago, CEO | earnings call 2026-01-21 | transcript 95dcb22b-1b1c-4cd9-b3f2-afda753140e3 | chars 9602-9738 | segment 9
Our corporate travel business, where both our platforms MyBiz and Quest2Travel, is witnessing strong growth on the back of new customer acquisition.
Jan 21, 2026 / CEO / receipt, needs a key / Rajesh Mago, CEO | earnings call 2026-01-21 | transcript 95dcb22b-1b1c-4cd9-b3f2-afda753140e3 | chars 10323-10471 | segment 10