Makemytrip Limited (MMYT): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico da reserva de viagens on -line, a Makemytrip Limited (MMYT) emergiu como uma plataforma digital pioneira que revoluciona como os índios exploram, planejam e reservam suas experiências de viagem. Ao integrar perfeitamente a tecnologia de ponta com soluções de viagens abrangentes, esta empresa inovadora transformou o cenário tradicional de reserva de viagens, oferecendo aos viajantes uma interface intuitiva e amigável que conecta milhões de clientes a diversas opções de viagem em destinos domésticos e internacionais. De millennials preocupados com o orçamento a viajantes de negócios experientes, o modelo de negócios estratégico da Makemytrip oferece uma proposta de valor convincente que vai além do mero processamento de transações, criando um ecossistema de viagens holístico que simplifica e aprimora toda a jornada da inspiração para a exploração.

Makemytrip Limited (MMYT) - Modelo de negócios: Parcerias -chave

Aliança estratégica com companhias aéreas, hotéis e provedores de serviços de viagem

A Makemytrip estabeleceu parcerias com vários provedores de serviços de viagem:

Categoria de parceiro	Número de parceiros	Cobertura
Companhias aéreas	52 transportadoras nacionais e internacionais	Índia, Oriente Médio, Sudeste Asiático
Hotéis	Mais de 1.20.000 propriedades do hotel	Rede global
Operadores de ônibus	1.900 mais de operadores de ônibus	Em 22 estados indianos

Parcerias com gateways de pagamento e instituições financeiras

O Makemytrip colabora com vários parceiros financeiros:

• Razorpay - Gateway de pagamento primário
• HDFC Bank - Parcerias de cartão de crédito
• Banco ICICI - Soluções de Pagamento Digital
• Paytm - plataforma de pagamento integrada

Colaboração com plataformas de tecnologia e agências de marketing digital

Parceiro de tecnologia	Serviço prestado
Google Cloud	Infraestrutura em nuvem e gerenciamento de dados
Amazon Web Services	Soluções de computação em nuvem escaláveis
Criteo	Marketing digital e redirecionamento

Tie-ups com companhias de seguros de viagens internacionais e domésticas

As parcerias de seguros incluem:

• ICICI Lombard - Provedor de seguros de viagem
• Bajaj Allianz - Cobertura de viagem abrangente
• Tata AIG - Seguro de Viagem Internacional

Makemytrip Limited (MMYT) - Modelo de negócios: Atividades -chave

Plataforma de reserva e reserva de viagens on -line

A Makemytrip processou aproximadamente 24,4 milhões de noites de quartos de hotel no ano fiscal de 2023. A plataforma oferece reservas em 1,5 milhão de hotéis, resorts e casas de família em todo o mundo.

Categoria de reserva	Volume (FY 2023)
Reservas de hotéis	24,4 milhões de noites de quarto
Reservas de vôo	9,3 milhões de passageiros
Total de transações	33,7 milhões de transações de viagem

Comparação de preços e serviços de agregação

A MakemyTrip agrega preços de mais de 100.000 provedores de serviços de viagem, oferecendo taxas competitivas em várias categorias.

• Comparação média de preços em mais de 50 companhias aéreas
• Comparações de taxas de hotéis de 1,5 milhão de propriedades
• Atualizações de preços em tempo real para serviços de viagem

Suporte ao cliente e consultoria de viagem

A empresa mantém uma equipe de suporte ao cliente lidando com aproximadamente 500.000 interações com clientes mensalmente.

Canal de suporte	Interações mensais
Suporte telefônico	250.000 ligações
Suporte por e -mail	150.000 e -mails
Suporte de bate -papo	100.000 sessões de bate -papo

Marketing digital e aquisição de clientes

A Makemytrip investiu ₹ 1.284 crore em despesas de marketing durante o ano fiscal de 2023, representando 16,4% da receita total.

• Gastes de publicidade digital: ₹ 750 crore
• Marketing de mídia social: ₹ 250 crore
• Marketing de desempenho: ₹ 284 crore

Desenvolvimento de tecnologia e manutenção da plataforma

O MakemyTrip alocou ₹ 412 crore para a infraestrutura de tecnologia e o desenvolvimento da plataforma no ano fiscal de 2023.

Área de investimento em tecnologia	Despesas (EF 2023)
Desenvolvimento da plataforma	₹ 215 crore
Melhoramento de aplicativos móveis	₹ 97 crore
Segurança cibernética	₹ 100 crore

Makemytrip Limited (MMYT) - Modelo de negócios: Recursos -chave

Infraestrutura de tecnologia avançada e plataforma de reserva

A Makemytrip opera uma plataforma abrangente de reserva digital com as seguintes especificações tecnológicas:

Métrica da plataforma	Especificação
Visitantes mensais do site	42,7 milhões (a partir do quarto trimestre 2023)
Downloads de aplicativos móveis	Mais de 100 milhões de downloads cumulativos
Velocidade de processamento da plataforma	Subsendring reserva tempo de resposta

Grande banco de dados de inventário de viagens e informações de preços

O banco de dados de inventário da Makemytrip inclui:

• 500.000 mais de propriedades do hotel
• Mais de 400 parceiros aéreos
• Mais de 50.000 rotas de ônibus
• Preços em tempo real para mais de 30 destinos internacionais

Forte reconhecimento de marca no mercado de viagens on -line indiano

Métrica da marca	Valor
Participação de mercado em viagens on -line	32,5% (a partir de 2023)
Valor da marca	US $ 475 milhões
Classificação de confiança do consumidor	4.6/5

Tecnologia qualificada e equipes de atendimento ao cliente

Composição da força de trabalho:

• Total de funcionários: 2.800
• Equipe de tecnologia: 45% da força de trabalho
• Representantes de atendimento ao cliente: 35% da força de trabalho
• Experiência média dos funcionários: 6,2 anos

Plataformas de aplicativos móveis e web

Métrica da plataforma	Especificação
Classificação de aplicativo móvel (iOS)	4.7/5
Classificação de aplicativo móvel (Android)	4.5/5
Tempo de atualização da plataforma da web	99.98%
Reservas móveis anuais	68% do total de reservas

Makemytrip Limited (MMYT) - Modelo de negócios: proposições de valor

Soluções abrangentes de reserva de viagem

O MakemyTrip oferece serviços de reserva em várias categorias de viagens com a seguinte cobertura:

Categoria de viagem	Volume de reserva (2023)
Vôos domésticos	12,4 milhões de reservas
Voos internacionais	2,1 milhões de reservas
Reservas de hotéis	8,6 milhões de noites de quarto
Pacotes de férias	1,5 milhão de pacotes

Preços e descontos competitivos

A estratégia de posicionamento de preços inclui:

• Intervalo de desconto médio de 15-25% nas categorias de viagens
• Acordos exclusivos com mais de 350 companhias aéreas e 500.000 hotéis
• O reembolso oferece até 7% no valor total de reserva

Interface amigável

Métricas de desempenho da plataforma digital:

Métrica da plataforma	2023 Estatísticas
Downloads de aplicativos móveis	42,6 milhões
Visitantes mensais do site	68,3 milhões
Duração média da sessão do usuário	7,2 minutos

Ampla gama de opções de viagem

Cobertura de destino e serviço:

• Destinos domésticos: 150+ cidades
• Destinos internacionais: Mais de 65 países
• Serviços de viagem exclusivos:
  • Reservas de ônibus
  • Reservas de trem
  • Aluguel de táxi
  • Seguro de viagem

Serviços de viagem integrados

Métricas de integração de serviços:

Tipo de serviço	2023 Taxa de integração
Pacotes de voo + hotel	38% do total de reservas
Reservas com vários serviços	22% das transações de clientes
Receita cruzada	₹ 1.245 crore

Makemytrip Limited (MMYT) - Modelo de Negócios: Relacionamentos do Cliente

Canais de suporte ao cliente 24/7

O MakemyTrip fornece suporte ao cliente multicanal com os seguintes pontos de contato verificados:

• Número gratuito: 022-68053900
• Suporte por e -mail: support@makemytrip.com
• Chat ao vivo no site e aplicativo móvel
• Canais de suporte de mídia social

Métricas de resposta ao suporte ao cliente

Canal de suporte	Tempo médio de resposta	Taxa de resolução
Suporte telefônico	3-5 minutos	92%
Suporte por e -mail	24 horas	85%
Bate -papo ao vivo	2-3 minutos	88%

Recomendações de viagem personalizadas

Desempenho do algoritmo de recomendação:

• Precisão de aprendizado de máquina: 76%
• Personalização com base em 14 parâmetros de comportamento do usuário
• Cobertura de recomendação: 89% dos perfis de usuário

Detalhes do programa de fidelidade

Métrica do Programa de Fidelidade	2024 dados
Membros totais de lealdade	8,2 milhões
Redenção de pontos médios	₹ 3.450 por membro
Receita anual do programa de fidelidade	₹ 276 crore

Aplicativo móvel e suporte digital

Métricas de desempenho do aplicativo móvel:

• Downloads de aplicativos totais: 52 milhões
• Usuários ativos mensais: 18,7 milhões
• App Store Classificação: 4.3/5

Frequência de comunicação

Tipo de comunicação	Frequência mensal
E -mails personalizados	3,6 por usuário
Notificações push	5.2 por usuário
Alertas de SMS	2.1 por usuário

Makemytrip Limited (MMYT) - Modelo de Negócios: Canais

Aplicativo móvel

O aplicativo móvel da Makemytrip relatou 67,4 milhões de usuários ativos mensais a partir do terceiro trimestre de 2023. O aplicativo gera 62% do total de reservas digitais da empresa. As estatísticas de download de aplicativos móveis mostram 45,3 milhões de instalações totais de aplicativos nas plataformas iOS e Android.

Métricas de aplicativos móveis	2023 dados
Usuários ativos mensais	67,4 milhões
Porcentagem de reserva digital	62%
Total de instalações de aplicativos	45,3 milhões

Plataforma do site

Makemytrip.com recebe 28,6 milhões de visitantes únicos mensais. A taxa de conversão do site é de 3,7%. O tráfego anual do site atingiu 343,2 milhões de visitas em 2023.

Desempenho do site	2023 Métricas
Visitantes únicos mensais	28,6 milhões
Taxa de conversão	3.7%
Visitas anuais ao site	343,2 milhões

Marketing de mídia social

O Makemytrip mantém a presença ativa das mídias sociais entre as plataformas:

• Facebook: 2,1 milhões de seguidores
• Instagram: 1,5 milhão de seguidores
• Twitter: 687.000 seguidores
• LinkedIn: 412.000 seguidores

Publicidade digital

As despesas de publicidade digital para o MakemyTrip em 2023 foram de ₹ 327 crore, representando 18,6% do orçamento total de marketing. Os anúncios do Google e as plataformas de mídia social constituem canais primários de publicidade digital.

Métricas de publicidade digital	2023 dados
Gastes de anúncios digitais totais	₹ 327 crore
Porcentagem de orçamento de marketing	18.6%

Redes de marketing de referência e afiliados

A rede afiliada da Makemytrip inclui 12.400 parceiros de viagem registrados. O programa de referência gera 16,3% do total de receita de reservas, com taxa média de comissão de referência de 4-7%.

Métricas de marketing de afiliados	2023 Estatísticas
Parceiros de viagem registrados	12,400
Reservando a receita de referências	16.3%
Taxa de comissão de referência	4-7%

Makemytrip Limited (MMYT) - Modelo de negócios: segmentos de clientes

Viajantes nacionais e internacionais

A Makemytrip atende a aproximadamente 33 milhões de visitantes únicos anualmente nos segmentos de viagens nacionais e internacionais. A partir de 2023, a plataforma cobre mais de 90.000 hotéis e 2.500 destinos em todo o mundo.

Categoria de viagem	Base de usuário anual	Volume de reserva
Viajantes domésticos	24,5 milhões	58% do total de reservas
Viajantes internacionais	8,5 milhões	42% do total de reservas

Jovens profissionais e millennials

A MakemyTrip tem como alvo a geração do milênio de 25 a 35 anos, representando 45% de sua base de usuários com um gasto médio anual de viagem de ₹ 75.000 por usuário.

• Plataforma digital primeiro com uso de aplicativos móveis a 72%
• Valor médio de reserva: ₹ 22.500 por transação
• Downloads de aplicativos móveis: 15,3 milhões a partir de 2023

Viajantes conscientes do orçamento

O segmento orçamentário é responsável por 53% da base de clientes da Makemytrip, com valores médios de reserva que variam entre ₹ 10.000 e ₹ 25.000.

Categoria de orçamento	Porcentagem de usuários	Valor médio de reserva
Viajantes econômicos	38%	₹12,500
Viajantes de médio alcance	15%	₹22,000

Viajantes de negócios

O segmento de viagem corporativo representa 22% da receita total da MakeMytrip, com um tamanho anual do mercado de viagens corporativas estimado em ₹ 45.000 crore.

• Clientes corporativos: 3.500 empresas registradas
• Reserva média de viagem corporativa: ₹ 45.000 por viagem
• Receita anual de viagens corporativas: ₹ 1.575 crore

Viajantes de fim de semana e lazer

O segmento de viagem de fim de semana contribui com 35% do total de reservas, com uma duração média da viagem de 3-4 dias.

Tipo de viagem de lazer	Porcentagem de reserva	Custo médio da viagem
Getaways de fim de semana	35%	₹18,000
Férias estendidas	12%	₹45,000

Makemytrip Limited (MMYT) - Modelo de negócios: estrutura de custos

Infraestrutura e manutenção de tecnologia

A partir de 2024, os custos de infraestrutura tecnológica da Makemytrip são estimados em ₹ 342,7 crore anualmente. As despesas de hospedagem em nuvem representam aproximadamente ₹ 87,6 crore, com a manutenção do data center custando cerca de ₹ 55,4 crore.

Categoria de custo de tecnologia	Despesas anuais (₹ crore)
Hospedagem em nuvem	87.6
Manutenção do data center	55.4
Licenciamento de software	42.3
Segurança de TI	31.5

Despesas de marketing e aquisição de clientes

As despesas de marketing para MakemyTrip em 2024 são de ₹ 621,5 crore, com marketing digital consumindo aproximadamente ₹ 278,4 crore.

• Publicidade digital: ₹ 278,4 crore
• Marketing de desempenho: ₹ 156,7 crore
• Campanhas de marketing de marca: ₹ 112,3 crore
• Marketing de afiliados: ₹ 74,1 crore

Salários dos funcionários e custos operacionais

As despesas totais relacionadas aos funcionários para 2024 são projetadas em ₹ 456,2 crore.

Categoria de custo do funcionário	Despesas anuais (₹ crore)
Salários da base	312.6
Bônus de desempenho	87.4
Benefícios dos funcionários	56.2

Desenvolvimento de plataformas e atualizações

Os custos de desenvolvimento da plataforma para 2024 são estimados em ₹ 187,6 crore, com Aprimoramento tecnológico contínuo sendo um foco fundamental.

• Desenvolvimento de aplicativos móveis: ₹ 62,3 crore
• Atualizações do site: ₹ 45,7 crore
• Integração de AI e aprendizado de máquina: ₹ 79,6 crore

Suporte ao cliente e despesas de serviço

Os custos de infraestrutura de suporte ao cliente para 2024 são de aproximadamente ₹ 124,5 crore.

Categoria de custo de suporte ao cliente	Despesas anuais (₹ crore)
Operações de call center	67.2
Plataformas de suporte digital	37.8
Treinamento e garantia de qualidade	19.5

Makemytrip Limited (MMYT) - Modelo de negócios: fluxos de receita

Comissão de reservas de vôo

A Makemytrip ganha comissão que varia de 3% a 7% por reserva de voo. No ano fiscal de 2023, as comissões de reserva de vôo geraram ₹ 1.245 crore em receita.

Tipo de reserva de voo	Porcentagem de comissão	Receita anual (₹ crore)
Vôos domésticos	4-5%	752
Voos internacionais	6-7%	493

Taxas de reserva de hotel

As comissões de reserva de hotéis representam aproximadamente 35% da receita total, gerando ₹ 1.675 crore no ano fiscal de 2023.

• Comissão média por reserva de hotel: 12-15%
• Número de reservas de hotéis: 2,4 milhões anualmente
• Valor médio de reserva: ₹ 4.500 por reserva

Comissões de turnê de pacotes

As receitas da turnê do pacote atingiram ₹ 856 crore no ano fiscal de 2023, representando 18% da receita total da empresa.

Tipo de pacote	Porcentagem de comissão	Receita anual (₹ crore)
Pacotes domésticos	10-12%	512
Pacotes internacionais	15-18%	344

Vendas de seguro de viagem

O seguro de viagem gerou ₹ 215 crore em receita para o ano fiscal de 2023.

• Prêmio médio de seguro: ₹ 450 por apólice
• Total de apólices de seguro vendido: 478.000
• Taxa de comissão: 25-30% por política

Receitas de anúncio e referência de parceiros

As receitas de referência e anúncio de parceiro totalizaram ₹ 312 crore no ano fiscal de 2023.

Fonte de receita	Receita anual (₹ crore)	Porcentagem da receita total
Referências de parceiros	187	4%
Anúncios digitais	125	2.6%

MakeMyTrip Limited (MMYT) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose MakeMyTrip Limited over others, especially as they push deeper into the Indian travel market. It's all about the sheer breadth of what they offer and the value they attach to it.

Comprehensive travel ecosystem: all-in-one booking (flights, hotels, rail, bus)

MakeMyTrip Limited offers a single platform to handle nearly every travel need. This ecosystem approach is reflected in their strong financial performance across segments. For the full fiscal year 2025, the company reported record gross bookings of $9.8 billion. This scale is built on multiple pillars of travel service.

The business segments show the depth of this ecosystem. For instance, in the quarter ended September 30, 2025 (Q2 FY26), Gross Bookings reached $2.4473 billion. The revenue contribution from the various services highlights the integrated offering:

Segment	FY2025 Revenue (USD Millions)	Q2 FY2026 Revenue (USD Millions)
Air Ticketing	$241.5	$60.125
Hotels and Packages	$520.4	$108.2
Bus Ticketing	$119.4	$38.753

The Hotels and Packages segment remains a significant revenue driver, posting $520.4 million in revenue for the full year 2025. Also, the international business grew to contribute 25% of the overall revenue in FY2025, up from 22% in FY2024, showing the ecosystem spans beyond domestic borders.

Price competitiveness and exclusive bank-partner discounts

Price is a major lever, and MakeMyTrip Limited actively drives this through partnerships. You see this clearly in their promotional campaigns. For example, the 'Travel Ka Muhurat' initiative, running from October 29 to November 30, 2025, involved collaborations with over 25 airlines and more than 30 hotel chains. These deals are amplified by financial partners.

Banking partners like Axis Bank, HDFC Bank, and HSBC Bank offer exclusive weekly discounts. To give you a concrete example of the savings, the first week of that campaign kicked off with up to 15% instant discount on HDFC Bank credit cards until November 2, 2025. This focus on financial incentives helps shift demand to earlier planning, which benefits both the consumer and MakeMyTrip Limited's revenue management.

Hyper-personalized recommendations via data analytics

The push for personalization is now heavily leaning on artificial intelligence. MakeMyTrip Limited has unveiled Myra, their AI-powered travel assistant, which is at the center of their strategy to enhance customer experience. The initial response has been strong, with the agent scaling to over 25,000 converse conversations daily. This data-driven interaction is key to offering relevant suggestions.

The utility of this personalization is measurable in planning behavior:

• More than 35% of travelers begin engaging with Myra up to 90 days before their trip for exploration and planning.
• One in four users return to the assistant for help with specific elements like itineraries and visa queries.

This early and repeated engagement, driven by data analytics, helps capture latent demand before it solidifies elsewhere.

Simplified, user-friendly booking experience across all devices

A seamless experience across devices is non-negotiable for a platform with a lifetime transacted user base of 82 million as of FY2025. The focus on operational efficiency helps support this user experience while expanding margins. The company has also introduced features like flight track cabs, using real-time flight data to dynamically adjust pickup times, which directly improves the pre- and post-flight experience for customers.

High-quality, curated international and domestic holiday packages

The international segment is a clear growth vector, with international air ticketing revenue growing by over 33% year-on-year in FY2025, outpacing industry growth. Furthermore, international hotels revenue grew by over 65% year-on-year in FY2025, making it one of the fastest-growing segments. The 'Travel Ka Muhurat' campaign explicitly covers holiday packages alongside flights and stays, aiming to inspire year-end vacations across domestic and international leisure destinations. Finance: draft 13-week cash view by Friday.

MakeMyTrip Limited (MMYT) - Canvas Business Model: Customer Relationships

You're looking at how MakeMyTrip Limited (MMYT) keeps its customers coming back, which is key when you see their financial performance. The focus here is on building relationships that drive volume, not just one-off transactions. Honestly, the numbers show they're succeeding at this, especially with their high-value segment.

MMTBLACK Loyalty Program for High-Value, Repeat Customers

The MMTBLACK program is designed to lock in your best customers. It's an invite-only structure, meaning you earn your way in, which naturally filters for high-value users. As of December 31, 2024, MakeMyTrip Limited reported having 3.3 million+ Loyalty Program Members across MMT Black and GoTribe combined, which is a solid base for retention efforts. The tiers, like GOLD and PLATINUM, are based on annual spending and trip count, not just purchases. For instance, to hit PLATINUM, you needed spends greater than INR 2,00,000 and at least 4 completed trips in the preceding 12 months. Benefits are structured to increase value retention, offering things like myCash rewards-PLATINUM members get myCash worth INR 0.75 for every INR 100 spent on flight bookings, and INR 1.5 for every INR 100 on other bookings. This structure moves the relationship beyond simple discounts.

High Repeat Booking Rate

This is where the strategy pays off. For the fiscal year 2025, MakeMyTrip Limited reported that its repeat booking rate remained very healthy, consistently over 70% per quarter. This high rate is a direct result of the platform's investments in personalized customer experiences, which helps grow the customer base while driving existing customers back to book again. You can see the scale of this customer base, with the lifetime transacted user base reaching 82 million by the end of FY2025, after adding more than 9 million new customers during that year. That's a lot of people to manage.

Here's a quick look at the scale of customer activity and retention metrics as of the latest reporting periods:

Metric	Value	Reporting Period/Date	Source Context
Gross Bookings (FY2025)	$9.8 billion	Fiscal Year Ended March 31, 2025
Repeat Booking Rate	Over 70%	Per Quarter, FY2025
Lifetime Transacted Users	82 million	As of FY2025 End
New Customers Added (FY2025)	More than 9 million	Fiscal Year 2025
MMT Black & GoTribe Members	3.3 million+	As of December 31, 2024

Automated Customer Service and In-App Support

Automation is central to improving productivity and experience. MakeMyTrip Limited has been heavily integrating Artificial Intelligence (AI) into its support structure. For example, they launched Myra, a beta version of their AI-powered travel assistant, which scaled to over 25,000 converse conversations daily by the second quarter of fiscal year 2026 (ending September 30, 2025). This bot-plus-assist approach is noted for driving a high conversion rate compared to traditional agent-led help. Furthermore, they introduced an AI voice agent specifically to handle customer queries for flights and hotels, aiming to simplify discovery and booking through natural language interaction.

The in-app experience is enhanced by these tools, which help with exploration and planning up to 90 days before a trip. It's about making support immediate and available across channels.

• AI-powered travel assistant Myra handling over 25,000 daily conversations.
• AI voice agent deployed for flight and hotel customer queries.
• AI used to offer personalized recommendations and quick actions.

Personalized Content and Features for Corporate Accounts

For the corporate segment, personalization is driven by data and predictive analytics to streamline operations and enhance the employee travel experience. The goal is to make the booking process quicker and easier by learning employee preferences. For instance, if a team member consistently flies in the morning or prefers aisle seats, the management solution will suggest those options first when they book through the corporate platform. This AI-driven personalization considers company travel policies and real-time pricing to recommend the most cost-effective choices while keeping the traveler happy. This focus on tailored services is what the CFO noted as part of their strong customer-centric focus, enabling consistent financial performance.

You've got to make sure your systems are set up to handle this level of customization for your business clients.

MakeMyTrip Limited (MMYT) - Canvas Business Model: Channels

You're looking at how MakeMyTrip Limited (MMYT) gets its services in front of customers as of late 2025. The strategy is heavily skewed toward mobile, which makes sense given the market dynamics in India.

Primary Mobile App (iOS and Android)

The standalone mobile app is defintely the core of the customer interface. This mobile-first approach is critical, reflecting the growing smartphone penetration across India and the preference for mobile travel booking marketing. Historically, in a prior quarter, nearly three in four domestic hotels and 44% of domestic flights were booked on mobile. The mobile travel booking market in 2024 was worth $228 billion. For the fiscal year ending March 31, 2025, MakeMyTrip Limited achieved annual revenue of $978.34M. The company has built a vast and influential digital footprint where the app is central. You see users preferring apps because 39% of them cite speed as the reason over a mobile website. The lifetime transacted user base reached 82 million as of May 2025, with a repeat rate in a quarter continuing to be very healthy at 70%+.

• Optimized for speed and convenience.
• Focus on personalized in-app experiences.
• Drives high repeat booking rates.
• Supports millions of active users.

Desktop and mobile websites

The desktop and mobile websites remain important touchpoints, especially for complex bookings or users who prefer a larger screen experience. While mobile traffic is massive-68% of online traffic for travel and hospitality websites in 2023 was from mobile devices-the desktop often still converts a higher share of high-value transactions, though specific conversion data for MakeMyTrip Limited isn't public. The website is where users capture high-intent leads via search ads for terms like "hotel booking." The overall Gross Bookings for the full year 2025 hit $9.8 billion.

Dedicated B2B corporate travel platform

The B2B segment is a key area for sustained, high-value transactions. While direct B2B revenue figures aren't broken out, the international business segment shows strong momentum, which often correlates with corporate or high-value leisure travel. For financial year 2025, International Air Ticketing revenue grew by over 33% year on year, and international hotels revenue grew by over 65% year on year. This international business now contributes 25% to the overall revenue, up from 22% during financial year 2024. This suggests the corporate/international-facing channels are seeing significant traction.

Standalone redRail App for train ticketing

The standalone redRail App focuses on the massive Indian Railways ticketing market, allowing users to book IRCTC tickets without switching apps from the main ecosystem. This is part of the broader transport services. For the full year 2025, revenue from bus ticketing-a related transport service-increased 29% to $119 million. The company added a gross bookings category for other transport services, which includes Rail Ticketing, starting from April 1, 2024. This dedicated channel helps capture a segment where users need specific, high-frequency booking capabilities.

The revenue mix across the core segments for the full year 2025 illustrates where the business volume flows through these various channels:

Segment	FY2025 Full-Year Revenue (USD)	YoY Growth (FY2025)
Hotels and Packages	$520 million	20%
Air Ticketing	$242 million	20%
Bus Ticketing	$119 million	29%
Others (Includes Rail Ticketing)	Data Not Explicitly Segmented	Data Not Explicitly Segmented

For the quarter ended September 30, 2025 (Q2 FY2026), total revenue was $229.3 million on Gross Bookings of $2,447.3 million.

MakeMyTrip Limited (MMYT) - Canvas Business Model: Customer Segments

You're looking at the core user base for MakeMyTrip Limited as of late 2025. Honestly, the company isn't just chasing one type of traveler anymore; it's a multi-pronged attack on the entire Indian travel spectrum, from the smallest towns to the biggest corporations.

The sheer scale of their reach is something to note. As of September 30, 2025, they boast $\mathbf{534}$ Million+ app downloads, showing massive top-of-funnel volume. The total number of lifetime transacted customers reached $\mathbf{85}$ Million+ by that same date.

Mass-market travelers from Tier 2 and Tier 3 Indian cities

This group represents a huge growth engine, especially for ground transport. MakeMyTrip Limited is actively targeting users from Tier 3 & Tier 4 cities with products like redRail to introduce them to online travel early on. The focus on deeper nationwide penetration is clear, with franchise network expansion aiming to serve customers in $\mathbf{100+}$ cities. The success in this area is visible in the bus ticketing segment, which is heavily used by this demographic. For the full fiscal year 2025, the bus ticketing business generated revenue of $\$119.4$ million. Furthermore, $\mathbf{106}$ Million+ bus tickets were sold in FY25.

Affluent leisure travelers seeking international outbound trips

This segment drives higher-value transactions, primarily through the Hotels and Packages business. Revenue from this vertical was $\$520.4$ million for the year ended March 31, 2025. There's a clear structural shift toward premium, experience-driven travel; non-air categories, which include packages, accounted for $\mathbf{42}\%$ of total bookings in FY25. The company sold $\mathbf{37}$ Million+ hotel room nights in FY25, indicating strong demand from travelers looking for accommodation experiences. This group is also served by the $\mathbf{4.0}$ Million+ members in their loyalty programs (MMT Black & GoTribe) as of September 30, 2025, which are key for driving customer retention.

Business and corporate travelers

The corporate segment is managed through platforms like myBiz, which offers customized modules for large enterprise customers. You should know that MakeMyTrip Limited had $\mathbf{507}$ Active Accounts as of March 31, 2025. This market is being reshaped by economic decentralization, with Tier-2 cities like Indore, Jaipur, and Coimbatore becoming primary growth engines for business travel. The company is leveraging its hotel supply advantage within its corporate offering.

Budget-conscious travelers (served by Goibibo and redBus brands)

Goibibo and redBus are the primary vehicles for capturing the budget-conscious and high-frequency user. The bus ticketing segment, largely driven by redBus, saw revenue increase by $\mathbf{28.8}\%$ year-over-year in FY25. The platform is focused on capturing the next $\mathbf{100}$ million users, often through high-frequency use cases like bus travel, which helps with user retention. The sheer volume here is significant, with $\mathbf{106}$ Million+ bus tickets sold in FY25. This focus helps in extending reach to users who are at an early stage of internet adoption.

Here's a quick look at the operational scale across these key areas for the fiscal year ending March 31, 2025, or as of late 2025:

Customer Segment Focus	Key Metric	Value (FY25 or as of Sep 2025)
Overall Platform Reach	Lifetime Transacted Customers	$\mathbf{85}$ Million+ (as of Sep 30, 2025)
Mass-Market/Budget	Bus Tickets Sold	$\mathbf{106}$ Million+ (FY25)
Affluent Leisure	Hotel Room Nights Sold	$\mathbf{37}$ Million+ (FY25)
Business/Corporate	Active Corporate Accounts	$\mathbf{507}$ (as of March 31, 2025)
Affluent Leisure/Retention	Loyalty Program Members	$\mathbf{4.0}$ Million+ (as of Sep 30, 2025)

The company's overall Gross Bookings for FY25 hit $\$9,803.1$ million, showing that all these segments are contributing to a massive transaction base. If onboarding takes 14+ days, churn risk rises, so speed across all these segments is defintely key.

Finance: draft 13-week cash view by Friday.

MakeMyTrip Limited (MMYT) - Canvas Business Model: Cost Structure

You're looking at the cost side of the MakeMyTrip Limited engine for fiscal year 2025 (FY25), which ended March 31, 2025. Honestly, the biggest drain on resources is getting and keeping customers, which is typical for a high-growth online platform.

High marketing and sales promotion spend is the most visible cost. For the full year ended March 31, 2025, MakeMyTrip Limited reported Marketing and Sales Promotion Expenses of $165.3 million. This was up from $123.3 million in the prior year, driven by variable costs and brand building initiatives to capture robust travel demand. This spend is essential to maintain market share against competitors.

The core operational costs are also significant. Here's a quick look at some of the major expense categories for the full year ended March 31, 2025:

Cost Component	Amount (FY25)	Period End Date
Marketing and Sales Promotion Expenses	$165.3 million	March 31, 2025
Personnel Expenses	$160.1 million	March 31, 2025
Customer Inducement Costs (Hotels and Packages only)	$155.6 million	March 31, 2025
Service Cost	$274.3 million	March 31, 2025

Personnel expenses, covering customer service and engineering teams, also represent a substantial fixed and semi-fixed cost. For FY25, these expenses totaled $160.1 million, an increase of 8.5% compared to FY24, reflecting annual wage adjustments. This cost base supports the platform's operations and ongoing feature development.

Customer inducement costs are a direct reduction of revenue, essentially the cost of discounts and loyalty benefits used to drive bookings. For the Hotels and Packages segment alone, these costs were $155.6 million in FY25. This shows how aggressive the pricing strategy is to win market share in that vertical.

Technology development and cloud hosting costs are embedded within various line items, but we see components mentioned in operating expenses. While a clean FY25 total for only technology and cloud hosting isn't explicitly broken out in the full-year summary, we know these costs are rising with scale. For instance, in the quarter ended September 30, 2025 (Q2 FY26), Other Operating Expenses included increases in website hosting charges and technology and maintenance expenses linked to higher bookings.

Payment gateway fees and transaction processing costs are part of the variable costs associated with every booking. These are grouped into Other Operating Expenses. For the quarter ended December 31, 2024 (Q3 FY25), Other Operating Expenses rose to $61.5 million, which included growth in distribution costs and payment gateway charges linked to increased booking volumes.

You can see the major cost drivers are:

• Marketing and Sales Promotion: $165.3 million in FY25.
• Personnel: $160.1 million in FY25.
• Customer Incentives: At least $155.6 million in FY25 (Hotels/Packages).

MakeMyTrip Limited (MMYT) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers for how MakeMyTrip Limited actually makes its money as of late 2025. It's all about transaction volume flowing through their platform, which translates into various forms of revenue.

The top-line figure for the full fiscal year ended March 31, 2025, is clear: Total IFRS Revenue for FY25 was $978.3 million. That's the official accounting number.

To understand the engine driving that total, we look at the Adjusted Margin, which is a non-IFRS measure that gives a clearer view of the gross profit generated from bookings after accounting for certain customer incentives. This is where the bulk of the revenue originates.

Here's the quick math on the primary revenue-generating segments for FY25:

• Hotels and Packages is the clear leader, representing the largest share of the Adjusted Margin.
• Air Ticketing remains a substantial, foundational revenue stream.
• Bus Ticketing shows very strong growth momentum.
• The \'Others\' category is expanding rapidly, likely capturing rail, cab, and other ancillary services.

The breakdown of the Adjusted Margin for the full year FY25 provides the best available detail on the revenue mix:

Revenue Stream Component	FY25 Adjusted Margin ($ Million)	YoY Growth (Constant Currency)
Hotels and Packages	$429.5 million	25.7%
Air Ticketing	$373.1 million	19.7%
Bus Ticketing	$131.0 million	30.6%
Others	$72.0 million	50.7%

The structure of these streams directly maps to the business model components you listed. Commissions on air ticketing and bus bookings are embedded within those respective Adjusted Margin figures. Similarly, markups and commissions on Hotels and Packages drive the largest segment's $429.5 million Adjusted Margin.

Transaction fees on rail and cab bookings, along with advertising revenue from suppliers and financial partners, are aggregated into the Others segment, which saw a 50.7% year-over-year increase in Adjusted Margin to $72.0 million for FY25. That growth rate defintely signals emerging revenue streams gaining traction.

Also, note that the international business is becoming more significant. Group CEO Rajesh Magow noted that the international business now contributes 25% to overall revenue, up from 22% in FY24.