Le Travenues Technology Limited · NSE:IXIGO
Le Travenues Technology — Q3 FY26 Earnings Presentation
40 slides from Le Travenues Technology's earnings presentation, Jan 22, 2026
Slide 1: Built on Trust, Powered by AI
Built on Trust Powered by AI
Slide 2: Safe Harbour
Safe Harbour This presentation and the accompanying slides Some statements may discuss the Company’s market (“Presentation”) by Le Travenues Technology Limited (the opportunity and business prospects as forward-looking “Company”) are for informational purposes only and do statements, which are not g
Slide 3: Our Business
Our Business Flights Hotels Trains Buses Who We Are We are a technology company focused on empowering travellers to plan, book and manage their trips. 3
Slide 4: Vision
Vision Our vision is to become the most customer-centric travel company, by offering the best customer experience to our users. 4
Slide 5: What We Stand For
What We Stand For Leading OTA for Next Billion Users Assisting travellers in making smarter with 544.35 Mn Annual Active Users1 travel decisions by leveraging AI Culture and values defined by Empowering travellers to plan, book, & manage core tenets of customer obsession, trips across trains, flights,
Slide 6: Our Journey
Our Journey 2007 – 2019 2020 – 2025 6
Slide 7: India’s Largest Travel Platform
India’s Largest Travel Platform 1 780.06 Mn 85.80% Lifetime Repeat Downloads4 Transaction Rate3 MAU2 Towns4 82.75 Mn 2400+ 122.95 Mn Annual Lifetime Lifetime Passenger Transacted Registered Segments 93.93 % Users 4 Users 4 Booked 3 Deep penetration in Tier II / III2 53.53 Mn 361.31 Mn Note: 1. Basis
Slide 8: India’s Leading OTA For The Next Billion Users
India’s Leading OTA For The Next Billion Users 1 Fastest Growing on Revenue 2 & Gaining Market-Share in All Lines of Businesses 3 3 Fastest Growing 4 “One-stop” Multi-Brand Travel Ecosystem Note: 1. Highest Monthly Active Users for mobile apps across all key OTAs as of September 30, 2023 (Source: F&
Slide 9: Q3 FY26 vs Q3 FY25
Q3 FY 26 vs Q3 FY 25 49,028.55 3,175.64 1,152.76 307.89 381.21 PBT* (ex loss of Revenue from Contribution Adjusted GTV associate, exceptional Operations Margin EBITDA items & tax) 21% ▲ 31% ▲ 12% ▲ 27% ▲ 64% ▲ Key Performance Indicators Units FY23 FY24 FY25 9 M FY 25 9 M FY 26 Monthly Active Users M
Slide 10: Management Commentary - Q3 FY26
Management Commentary - Q3 FY 26 Mr. Aloke Bajpai Mr. Rajnish Kumar Mr. Saurabh Devendra Singh Chairman, Managing Director Director & Group Co-Chief Group Chief Financial Officer & Group Chief Executive Officer Executive Officer “Our Q3 performance demonstrates our continued ability to “I personally li
Slide 11: Recent Highlights & Announcements
Recent Highlights & Announcements AbhiBus launched ReadyGo, Partnered with MMRCL, Launched Airport Cabs, a dedicated platform for bus MMOPL, MMMOCL and ONDC enabling reliable and operators offering them to launch Mumbai Metro cost-effective airport real-time and actionable ticketing on the ixigo Tra
Slide 12: India’s Most Loved Travel Apps
India’s Most Loved Travel Apps 5.7 Mn+ Ratings across apps 12
Slide 13: Leveraging Data Science & AI: Our Peace of Mind Stack
Leveraging Data Science & AI: Our “Peace of Mind” Stack 1 28.79 % Ancillary Dynamic AI-based Pricing for Value Added Services Attachment Rate Other Value Added Services No Question Asked Fully Flexible and Lock Fare Now, ● Food on Trains Full Refunds Freely Reschedulable Pay Later ● Seat & In-flight
Slide 14: Artificial Intelligence & Technology Driven Operations
Artificial Intelligence & Technology Driven Operations Technology Forms The Basis For Our Operating Leverage TARA PLAN AI driven personal travel assistant Generative AI based trip planner across chat & voice for personalized itineraries AI Revenue Optimisation Alternate Travel Plan Dynamic & personal
Slide 15: Our 3-Pronged AI Strategy
Our 3-Pronged AI Strategy Efficiency Revenue Disruption Agentic AI enabled efficiency in the AI optimized dynamic pricing for Predictive, Pre-emptive & entire software development lifecycle Value Added Services (Alternate Hyper-Personalised Products Travel Plan, Assured, Price Lock & 76.12% voice and
Slide 16: The ixigo Flywheel
Identify & Solve Travel Utility Problems Train running / PNR status, Crowdsourced Info, Bus schedules, Flight tracking etc. Build Trust & Grow AI-Enhanced Customer NBU Users Organically The ixigo Experience & Data Moats Highest rated app, fuelling 544.35 Mn Annual Active Users 1 word of mouth Flywhe
Slide 17: Customer First, Always: Navigating Disruptions with Trust
Customer First, Always: Navigating Disruptions with Trust Leading with empathy by leveraging AI to inform and help customers. Flight disruptions by a leading airline in India in December 2025 caused a 2x surge in customer support reach-outs and a 5x increase in usage of Flight Tracker Pro. ● First O
Slide 18: Delivering the Best Customer Experience with AI
Delivering the Best Customer Experience with AI Providing Prompt Personalized Assistance Before, During & After the Trip 49h : 07m FY21 Average ………………………………..…...…... Refund Q3 FY 26 Customer Queries Time1 handled by AI 3h : 10m Q3 FY 26 3.81 Mn % Queries 96.70 % Q3 FY 26 handled by AI Q3 FY 26 Call
Slide 19: India Macroeconomic Outlook
India Macroeconomic Outlook Rising Per Capita Incomes Will Shift the Income Pyramid On Track to Become The Third-Largest Discretionary Spending Inflection Point at ~$4K GDP / Per Capita High High 29Mn (7%) Global Economy & 8Mn (3%)V Upper mid Upper mid World’s 4th 61Mn (21%) 168Mn (44%) Lower mid Low
Slide 20: Robust Growth Expected in Indian Travel & Tourism Market
Robust Growth Expected in Indian Travel & Tourism Market Indian Tourism & Transportation Size (INR Bn) Growth In Online Penetration Across Different Segments 952 Mn Passengers Travelled CAGR 9% 5,904 On Reserved Tickets 86% (FY23-28) 81% 81% 802 8% 70% 3,808 837 6% 539 44% 1,365 617 7% 32% 28% 992 1
Slide 21: OTAs driving faster growth in Online Travel
OTAs driving faster growth in Online Travel Indian OTA Market Outpacing the Overall Travel and Online Markets Indian Travel Market By Booking Mode Indian OTA Market Market size (INR Bn) Market size (INR Bn) 2,802 CAGR 18% FY23 CAGR FY28 (FY23–28) 204 202 Total Market: 9% 5,904 517 18% 3,808 Online T
Slide 22: Indian Railways Plans Significant Capacity Expansion
Indian Railways Plans Significant Capacity Expansion The Government plans to double rail passenger capacity across 48 cities by 2030 ` 22 22
Slide 23: Travel Trends That Set The Stage In 2025
Travel Trends That Set The Stage In 2025 Launched The Great Indian Travel Index 2025 , unpacking a full year of travel behaviour and booking trends across modes OTT Fuels Northeast Travel (YoY Flight Demand) New International Hotspots (YoY Flight Demand) ● Dimapur +77% ● Favourites: Japan +63%, ● Ag
Slide 24: ixigo’s Accelerating Monetization & Premiumization
ixigo’s Accelerating Monetization & Premiumization Gross Transaction Value (INR Bn) Passenger Segments (Mn) 31.67%▲ 20.77%▲ MAUs and MTUs (Mn) Annual Spend per Transacting User (INR) 24
Slide 25: Resilient Growth with Profitability
Resilient Growth with Profitability Operating Cash Flow (INR Mn) Revenue from Operations (INR Mn) 45.18%▲ 30.00%▲ Contribution Margin (INR Mn) Adjusted EBITDA (INR Mn) 38.07%▲ 25.85%▲ 25
Slide 26: Quarter on Quarter Trajectory
Quarter on Quarter Trajectory Gross Transaction Value (INR Bn) Revenue from Operations (INR Mn) Contribution Margin (INR Mn) Adjusted EBITDA (INR Mn) 26
Slide 27: Robust YoY Growth Trajectory
Robust YoY Growth Trajectory 23x Revenue Growth vs Pre-COVID (FY19) Annual Active Users (Mn) Gross Transaction Value (INR Bn) CAGR CAGR 32.63% 83.73% Revenue from Operations (INR Mn) Adjusted EBITDA (INR Mn) CAGR CAGR (Since FY21) 68.20% 84.32% 27
Slide 28: Diversified Business Model With Multiple Growth Drivers
Diversified Business Model With Multiple Growth Drivers Q3 FY 26 vs. Passenger GTV Gross Revenue From Contribution Multiple Revenue Streams CM% Q3 FY 25 Segments (Mn) (INR Mn) Take Rate Operations (INR Mn) Margin (INR Mn) ▪ Agent Service charges 26.12 20,955.00 1,341.06 405.91 ▪ PG Charges Train 9% 1
Slide 29: Diversified & Evolving Business Mix - Q3 FY26
Diversified & Evolving Business Mix - Q3 FY26 Gross Transaction Value Revenue from Operations Contribution Margin 29
Slide 30: Consolidated Summary Statement of Profit & Loss
Consolidated Summary Statement of Profit & Loss INR Million, unless otherwise stated FY25 FY24 FY23 9 M FY 26 9 M FY 25 Q3 FY 26 Q3 FY 25 Revenue from Operations 9,142.46 6,558.73 5,012.50 9,147.77 6,301.09 3,175.64 2,417.61 Other Income 180.20 92.18 163.23 285.41 120.78 164.10 52.31 Total Income 9,3
Slide 31: Segment Wise Operating and Financial Snapshot
Segment Wise Operating and Financial Snapshot INR Million unless otherwise stated FY25 FY24 FY23 9 M FY 26 9 M FY 25 Q3 FY 26 Q3 FY 25 Flight Passenger Segments (Million) 8.44 5.77 3.26 8.00 6.03 2.80 2.43 Flight GTV 56,506.95 35,269.99 20,154.88 54,959.92 39,414.79 20,555.50 16,826.00 Flight Gross
Slide 32: Financial Summary - Contribution Margin to EBITDA
Financial Summary - Contribution Margin to EBITDA INR Million unless otherwise stated FY25 FY24 FY23 9 M FY 26 9 M FY 25 Q3 FY 26 Q3 FY 25 Total Contribution Margin 4,013.48 2,938.48 2,180.78 3,529.48 2,804.62 1,152.76 1,025.48 + Other Income 180.20 92.18 163.23 285.41 120.78 164.10 52.31 - Employee
Slide 33: Experienced Key Managerial Personnel
Experienced Key Managerial Personnel Mr. Aloke Bajpai Chairman, Managing Director Mr. Rajnish Kumar & Group Chief Executive Officer Director & Group Co-Chief Executive Officer • Ex- Amadeus • Ex- Amadeus • MBA, INSEAD • B.Tech, Computer Science, IIT Kanpur • B.Tech, Electrical Engineering, IIT Kanpur
Slide 34: Seasoned Board of Directors
Seasoned Board of Directors Mr. Shailesh Lakhani Mr. Frederic Lalonde Non-Executive Director Non-Executive Director • Founder and CEO of Hopper, an • MBA, Harvard University airfare and hotel fare prediction mobile • Bachelor’s degree, University of Waterloo application Mr. Mahendra Pratap Mall Mr.
Slide 35: Becoming a One Stop Travel Solution Provider
Becoming a One Stop Travel Solution Provider Continue To Deepen Penetration & Improve Operating Leverage Through Enhance Our Offerings For Travellers Investment In Deep Tech & AI Business Train Engage Existing Users Travel To Return To Book Agentic AI experiences with AI-Native hyper-personalized mu
Slide 36: Conference Call Details
Details of Conference call Conference Call Details Date Thursday, January 22, 2026 Le Travenues Technology Limited Time 05:00 PM IST (NSE: IXIGO, BSE: 544192) will 07:30 PM HK/SG host a conference call for analysts and investors on Thursday, 22nd 06:30 AM US (EST) January, 2026 at 05:00 pm (IST) fol
Slide 37: Glossary
Glossary Term Description Adjusted EBITDA Adjusted EBITDA is calculated as the profit for the period or year plus tax expense, finance cost, depreciation, amortization expenses, Employee Stock Option Scheme less other income, exceptional items, share of profit/loss of associate. Adjusted EBITDA Margin
Slide 38: Glossary (continued)
Gross Revenue Gross revenue represents Revenue from operations plus discounts. Gross Take Rate Gross take rate refers to Gross Ticketing Revenue divided by Gross Transaction Value during the relevant period/ year Gross Transaction Value Gross transaction value refers to the total amount paid (includ
Slide 39: Glossary (continued)
Passenger Segments Passenger segments refers to the total number of point-to-point passenger tickets booked between two cities, airports, train stations or bus stations, as applicable, whether or not such a ticket is part of a larger or longer itinerary. For example, a booking made with two passenge
Slide 40: Thank You
THANK YOU For additional information please contact: ir@ixigo.com +91 92668 66934 40
Le Travenues Technology — Q3 FY26 Earnings Presentation on 6ix