MakeMyTrip (MMYT)
Connects Indian leisure and corporate travelers with multi-brand transport, lodging and activity bookings.
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Organizes flight, lodging, rail, bus, car hire, activities and package bookings through MakeMyTrip, Goibibo and redBus. The multi-brand platform serves Indian leisure and corporate travelers and depends on travel demand and sector partners.
Brings air, accommodation and packages, rail, bus, car hire, activities and ancillary travel bookings into a travel-technology platform for Indian leisure and corporate travelers. Its main consumer sites are MakeMyTrip, Goibibo and redBus, combining a familiar set of specialist brands under one marketplace.
Operations are centered on India, although the company began by serving US-India travel demand and is incorporated in Mauritius. The platform's usefulness depends on travel demand and relationships with travel-sector partners; COVID-19 disrupted both domestic and international travel and affected partners. Rajesh Magow serves as Group CEO, while founder Deep Kalra is Group Chairman and Chief Mentor.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 2, 2026 | HSBC | Initiate | Rating: —Target: — | Target: $70 |
| Jun 27, 2026 | Goldman Sachs | Target | Target: $112 | Target: $84 |
| Jun 24, 2025 | Macquarie | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $776.2M · Total debt $1.71B · Total assets $1.78B · Shareholders' equity −$341.5M
- Revenue
- $285.6M
- Operating income
- $43.7M
- Net income
- $8.4M
No dividends on record.
| Institutions | 120.37% | 113.22M ADS | |
|---|---|---|---|
| 205 holders · as of Jun 30, 2026 | |||
| Insiders | 3.48% | 3.28M ADS | |
| 2 holders · as of Mar 17, 2026 | |||
| Strategic holders | 24.23% | 22.79M ADS | |
| 2 holders · as of Aug 13, 2026 | |||
| Adds to | 148.08% | ||
94.06M ADS as of Sep 11, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
The share count is from the company's Mar 2023 annual report; nothing newer is on file here.
These groups come from separate filings that can overlap, so they add to 148.08%; nothing is left for Other.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Verition Fund Management LLCInstitution | 34.55% | 32.50M ADS | as of Jun 30, 2026 |
Trip.com Group LimitedStrategic | 17.08% | 16.07M | filed Jun 24, 2025 |
Baillie Gifford & CoInstitution | 15.60% | 14.67M ADS | as of Jun 30, 2026 |
Schroder Investment Management GroupInstitution | 8.20% | 7.71M ADS | as of Jun 30, 2026 |
GIC Private LtdStrategic | 7.14% | 6.72M | filed Aug 13, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
- Yatra Online
India OTA with consumer, corporate, air, hotel, and package overlap.
- Booking
Global online travel group behind Booking.com and Agoda.
- Expedia Group
Global OTA with lodging, air, and package booking overlap.
- Airbnb
Global alternative-accommodation marketplace for stays and services.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| MakeMyTrip | $48.32 | +0.74% | $4.51B | 145.1 | 36.7 | 4.3 | +1.1% |
| Yatra Online | $1.09 | +5.34% | $64.0M | — | — | 0.6 | −18.9% |
| Booking | $161.07 | −4.42% | $130.58B | 18.7 | 14.5 | 4.6 | +8.2% |
| Expedia Group | $268.34 | −4.51% | $32.18B | 17.5 | 11.9 | 2.0 | +14.0% |
| Airbnb | $161.28 | −3.34% | $99.02B | 38.1 | 28.1 | 7.5 | +16.5% |
| Median | 18.7 | 14.5 | 3.3 | +11.1% |