May 2026
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Largest TravelTech Public Companies in India
Benchmark revenue and EBITDA valuation multiples for public comps like
MakeMyTrip, TBO.com, Ixigo, Accelya Solutions India and Yatra.com.
 | MakeMyTrip Ltd is an online travel company, which provides online booking solutions for day-to-day travel needs. The company's operating segment includes Air ticketing; Hotels and packages; Bus ticketing and Others. It generates maximum revenue from the Hotels and packages segment. The Hotels and packages segments include internet-based platforms, call-centers, and branch offices, which provide holiday packages and hotel reservations. Its Air ticketing segment includes internet-based platforms, provides the facility to book domestic and international air tickets. Geographically, it derives a majority of revenue from India and also has a presence in the United States; South East Asia; Europe, and other countries. | $43 | -58% | $4B | $5B | 4.8x | 29.4x | ||
| TBO Tek Ltd is a travel distribution platform. It is engaged in the business of operating an online technology platform (TBO Portal) providing its customers access to book international travel inventory aggregated through travel suppliers like airlines, hotels, cruises, car rentals, transfers, and rail services among others. Its customers include retail and API buyers such as travel agencies, independent travel advisors, and enterprise buyers including tour operators, travel management companies, online travel companies, super-apps, and loyalty apps. The company's business activities fall within two primary business segments; Air ticketing which generates maximum revenue, and Hotels and packages. Geographically, it derives maximum revenue from India and also has its presence outside India. | $13 | -10% | $1B | $1B | 6.0x | 33.2x | ||
| Le Travenues Technology Ltd is a technology company focused on empowering Indian travelers to plan, book, and manage their trips across rail, air, buses, and hotels. It assists travelers in making smarter travel decisions by leveraging artificial intelligence, machine learning, and data science-led innovations on the OTA platforms, comprising its websites and mobile applications. The company's reportable segments include Flight, Train, Bus, and Other services. Maximum revenue is generated from its Train ticketing services followed by the Flight and other segments. Geographically, it predominantly provides services to customers in India. | $2 | -3% | $812M | $707M | 5.5x | 63.8x | ||
| Accelya Solutions India Ltd provides software solutions for the airline and travel industries of various countries. It offers platforms that support passenger services, cargo operations, and airline financial processes, including revenue accounting and settlement. The company’s software helps airlines manage booking, pricing, cargo bookings, invoicing, and payment settlements, with a focus on streamlining operations and supporting airline retailing standards. Revenue is derived mainly from transaction processing, managed processes, technology and hosting services, licensing of software products, related implementation, and maintenance services. Accelya operates globally, serving a broad base of airline customers and supporting digital transformation within the industry. | $12 | -21% | $178M | $174M | 3.2x | 8.1x | ||
| Yatra Online Inc is an Indian consumer travel platform provider and online travel agent. The company is organized into the following business segments; Air Ticketing which derives maximum revenue, Hotels and Packages, and Other Services. It mainly provides travel-related services, which include domestic and international air ticketing, hotel bookings, homestays, holiday packages, bus ticketing, rail ticketing, activities and ancillary services. It also involves hosting advertisements on its internet websites, the sale of rail and bus tickets, and facilitating website access to travel insurance companies. Some of its applications include Yatra Mini, Yatra Web Check-In, Yatra Corporate, and Travelguru HomeStay. | $1 | -6% | $58M | $46M | 0.6x | 11.1x | ||
| Median | $12 | -10% | $812M | $707M | 4.8x | 29.4x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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