TBM Staff - Mumbai Eraaya Lifespaces Limited (ELL) has reported exceptional financial performance for Q3 FY24 through its Indian subsidiary, EbixCash Limited’s Travel Division (Ebix Travels Pvt. Ltd. – ETPL). This achievement highlights significant progress in the company’s strategic growth initiatives and reinforces its leadership in the travel solutions sector.
For the quarter ending December 2024, ETPL achieved a Gross Merchandise Value (GMV) of INR 10,030 million, net revenue of INR 1,110 million, and an EBITDA of INR 75 million. These results reflect the division’s resilience and consistent growth across its diversified business segments, including corporate travel, MICE, luxury train operations, and online travel services.
The Mercury vertical, encompassing corporate travel, MICE, luxury trains, and Swiss travel, generated revenue of INR 585.3 million with an EBITDA of INR 23.7 million. Strong corporate and MICE bookings contributed significantly to this performance. The luxury train segment also demonstrated steady growth, with the Deccan Odyssey generating INR 112.3 million in revenue. Other luxury train operations, along with the Swiss Travel Bureau GmbH, added INR 53.7 million, catering primarily to American luxury clients.
The online travel agency via.com performed well in the ASEAN region, with Indonesia and the Philippines contributing INR 86.8 million in EBITDA. Singapore operations are on track for profitability in the upcoming quarter. The rail division continued its dominance in luxury train bookings, serving 1,447 passengers—the highest number recorded by a single operator post-COVID.
The MICE division showcased strong results, hosting over 30 groups and accommodating more than 6,000 passengers while achieving industry-leading margins of 8.48%. These accomplishments were complemented by the addition of nine new corporate clients, expected to contribute an annualized revenue of INR 580 million, with renewals for five major clients nearing completion.
With a healthy order book for 2025, ETPL is poised for significant growth in both revenue and profitability, further cementing its position as a market leader in the travel industry. This milestone marks another step forward in Eraaya Lifespaces Limited’s vision of innovation, excellence, and sustained growth.
