ixigo Posts Strong Financial Performance in FY24, Revenue Reaches INR 655.9 Cr

ixigo Posts Strong Financial Performance in FY24, Revenue Reaches INR 655.9 Cr

By Nishang Narayan

Published on July 7, 2024

ixigo, India's leading online travel agency, has reported impressive financial results for the fiscal year 2024, underscoring its strong market position and growth trajectory. The company's Gross Transaction Value (GTV) surpassed INR 10,000 Cr, achieving a notable 38% year-over-year (YoY) growth rate. This growth was particularly driven by a 75% increase in Flight GTV, highlighting ixigo's dominance in the flight booking segment.

Revenue from Operations for FY24 reached INR 655.9 Cr, representing a robust 30.8% YoY increase from INR 501.3 Cr in FY23. The fourth quarter of FY24 alone saw a 20.4% YoY revenue growth, totaling INR 164.9 Cr. The Contribution Margin (CM) for the year rose by 34.7%, supported by strong performances in bus and train bookings.

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In terms of profitability, ixigo reported a Profit After Tax (PAT) of INR 73.1 Cr for FY24, marking substantial growth driven by operational efficiencies and strategic market expansion. Adjusted EBITDA, which includes ESOP Expenses and Other Income, saw a significant increase of 24.7% YoY, amounting to INR 55.3 Cr for the year.

Commenting on the results, ixigo's Group CEO, Aloke Bajpai, and Group Co-CEO, Rajnish Kumar, expressed satisfaction with the company's performance. They attributed the strong financial outcomes to ixigo's commitment to enhancing customer experience and expanding market share across key verticals despite challenging market conditions.

Looking ahead, ixigo remains focused on leveraging technological advancements and strategic initiatives to sustain its growth momentum and further strengthen its position in India's competitive online travel market.

This financial success positions ixigo as a pivotal player in India's travel and hospitality industry, poised for continued growth and innovation in the coming years.


Gaur City Mall Surpasses ₹1 Billion in Monthly Sales During FY 2025-26

Gaur City Mall Surpasses ₹1 Billion in Monthly Sales During FY 2025-26

By Manu Vardhan Kannan

Published on July 22, 2026

Gaur City Mall has achieved a significant milestone by consistently recording over ₹1 billion in monthly retail sales throughout FY 2025-26. The achievement comes as the mall celebrates its seventh anniversary with 'The Billion Celebration,' marking its growth journey alongside retail partners and shoppers.

Spread across 8 lakh sq. ft., Gaur City Mall is part of the larger Gaur City Township and was developed to provide residents with a convenient destination for shopping, entertainment, and lifestyle experiences. Over the years, it has grown beyond serving the local community to become a major retail and lifestyle hub for the Noida-Greater Noida region.

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The milestone places Gaur City Mall among a select group of high-performing retail destinations in India, driven by strong consumer demand, a carefully curated brand mix, and consistent operational performance.

The mall currently operates at 100% occupancy and is home to more than 150 national and international brands, including Shoppers Stop, Lifestyle, Marks & Spencer, Decathlon, Adidas, Skechers, Tanishq, Kalyan Jewellers, MAX, Hamleys, PVR, Croma, and Reliance Digital, among others. Its balanced retail mix, growing footfall, and understanding of the local market have played an important role in its continued success.

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Speaking on the occasion, Sarthak Gaur, Director, Gaurs Group, said, "This milestone is a testament to the integrated township vision, where retail plays a central role in enhancing everyday life. We are thankful to our brand partners and shoppers for their continued association. We also extend our gratitude to the Noida and Greater Noida administration for their consistent support in building the infrastructure backbone that enables such ecosystems to thrive."

To mark the occasion, the mall hosted 'The Billion Celebration', featuring a large-scale balloon shower and retailer recognition awards that brought together brand partners, shoppers, and stakeholders.

Building on this achievement, Gaur City Mall plans to further enhance its experiential offerings while improving retail productivity, strengthening its position as a leading retail destination in the evolving NCR market.


Burger Singh Plans 80 Outlets in Bengaluru, Targets 100 More Across Karnataka

Burger Singh Plans 80 Outlets in Bengaluru, Targets 100 More Across Karnataka

By Manu Vardhan Kannan

Published on July 21, 2026

Burger Singh, India's largest made-in-India burger chain, has announced an ambitious expansion plan for Bengaluru, aiming to increase its presence from eight operational outlets to 80. The company also plans to open 100 more outlets across Karnataka, making it the fastest city-level expansion in the brand's history.

The announcement comes as Burger Singh continues to strengthen its national footprint, which now spans more than 200 outlets across over 100 cities. Known for blending Indian flavours with the classic burger format, the brand has built a loyal customer base by offering products tailored to Indian tastes at affordable prices.

According to the company, Bengaluru has emerged as its fastest-growing market. Alongside the existing eight outlets, five more locations are currently under fit-out and are expected to open within the next month.

The city's strong response was evident during Burger Singh's Big Singh Feast campaign in November 2025, where the brand served over 3,300 free meals in a single day across Sarjapur, HSR Layout and BTM Layout. The activation attracted more than 15,000 registrations, with the company describing the turnout as comparable to blockbuster movie releases and major technology product launches.

Commenting on the expansion, Nitin Rana, Co-founder of Burger Singh, said:

"Every market teaches you something about pace, and Bengaluru has taught us to move faster than we've ever moved before. Going from 8 outlets to 80 isn't incremental growth; it's a scale-up unlike anything we've done in any other city, and we're doing it because Bengaluru has earned the speed. This is now officially our fastest-growing market in the country, and with another 100 more outlets planned across Karnataka, we're backing that momentum with real commitment, not just ambition."

As part of its expansion strategy, Burger Singh is also inviting franchise partners to join its growth journey across Bengaluru and the wider Karnataka market. The company said the initiative offers entrepreneurs an opportunity to become part of one of India's fastest-growing homegrown quick service restaurant (QSR) brands.

Customers visiting the Bengaluru outlets can continue to enjoy the brand's signature menu, featuring popular offerings such as Nikku Singh, Churmur Pandey, Udta Punjab 2.0 and Chunky Paneer Pandey, among other favourites.

With Bengaluru now leading its growth story, Burger Singh is betting on the city's strong consumer demand to drive the next phase of its expansion across southern India.


MAYFAIR Elixir Signs Premium Hotel in Santiniketan, Eyes FY29 Debut

MAYFAIR Elixir Signs Premium Hotel in Santiniketan, Eyes FY29 Debut

By Manu Vardhan Kannan

Published on July 19, 2026

MAYFAIR Elixir, the growth and expansion arm of MAYFAIR Hotels & Resorts, has signed a premium hospitality project in Santiniketan, West Bengal, further strengthening the group's presence in Eastern India.

The hotel, scheduled to open in FY2028-29, will become MAYFAIR's fifth property in West Bengal. Located in the UNESCO World Heritage Site of Santiniketan, the development aims to cater to leisure travellers, cultural enthusiasts and guests looking for intimate celebration venues.

Designed as a premium retreat, the upcoming property will combine modern hospitality with the cultural heritage of Santiniketan, offering personalised experiences that reflect the MAYFAIR brand while embracing the destination's artistic and literary legacy.

The signing was announced during Jagannath Rath Yatra and forms part of the group's long-term strategy to expand across destinations known for their cultural significance and tourism potential.

Speaking on the partnership, Rajendra Chatterjee, CEO & Managing Director of WESTROAD Group, which owns the property, said:

"Santiniketan is more than a destination. It is an emotion that celebrates creativity, learning and Rabindranath Tagore's legacy. We wanted a hospitality partner that understands the importance of preserving this essence while delivering exceptional guest experiences. MAYFAIR Group's expertise, its deep understanding of regional culture and unwavering commitment to excellence made it the natural choice. We look forward to creating a landmark experience in Santiniketan with MAYFAIR Elixir."

Commenting on the signing, Randhir Gupta, Vice President – Commercial & Business Development, MAYFAIR Hotels & Resorts, said:

"Santiniketan has long been one of India's most celebrated cultural destinations. Yet, the market has remained underserved in the premium hospitality segment. This signing is a strategic addition to our growing portfolio, allowing us to introduce the MAYFAIR experience to a destination of global significance. Santiniketan perfectly aligns with our vision of expanding into culturally rich destinations with long-term tourism potential."

Bjorn DeNiese, Managing Director, MAYFAIR Elixir, added:

"This marks an exciting chapter in the growth journey of MAYFAIR Elixir. As we expand our footprint across India, our vision is not simply to add destinations, but to create hospitality experiences that celebrate the unique character and cultural identity of every place we enter. Santiniketan, with its extraordinary legacy of art, literature and learning, embodies the values we believe modern travellers increasingly seek."

He further said the company has several new destinations, hospitality concepts and strategic partnerships in the pipeline as it continues to grow its portfolio across India.

The latest signing reinforces MAYFAIR Hotels & Resorts' focus on expanding into culturally significant destinations while strengthening its presence in key tourism markets across the country.

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