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Make My Trip Investor Presentation 2011

Make My Trip Investor Presentation 2011

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Investor Presentation

February 2012

Safe Harbor Statement
Certain statements contained in this presentation are “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements reflect our current expectations or forecasts of future events and our future performance and do not relate directly to historical or current events or our historical or current performance and are subject to risks and uncertainties, some of which are outside of our control, that could cause actual outcomes and results to differ materially from historical results or current expectations. Most of these statements contain words that identify them as forward looking, such as “anticipate”, “estimate”, “expect”, “project”, “intend”, “plan”, “believe”, “seek”, “will”, “may”, “opportunity”, “target” or other words that relate to future events, as opposed to past or current events. Among the factors that could cause actual results to differ materially are our ability to maintain and expand our supplier relationships; our reliance on technology, our ability to expand our business, implement our strategy and effectively manage our growth; political and economic stability in and around India; our ability to successfully implement our growth strategy; our ability to attract, train and retain executives and other qualified employees; increasing competition in the Indian travel industry and risks associated with online commerce security. In addition to the foregoing factors, a description of certain other risks and uncertainties which may cause actual results to differ materially can be found in the “Risk Factors” section of MMYT's 20-F dated September 2, 2011, filed with the U.S. Securities Exchange Commission (“SEC”). Copies of this material is available from the SEC, our website or our Investor Relations department. We cannot assure you that the assumptions made in preparing any of the forward-looking statements will prove accurate or that any projections will be realized. We expect that there will be differences between projected and actual results. These forwardlooking statements speak only as of the date of this presentation, and we do not undertake any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. You are cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements attributable to us are expressly qualified in their entirety by the cautionary statements contained herein and in our future annual and quarterly reports as filed with the SEC.

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Non-IFRS Metrics & Note on Unaudited Financials

The following non-IFRS metrics will be used in this presentation:
Gross Bookings – represents total amount paid by our customers for travel services and products booked through us,
including taxes, fees, and other charges, and are net of cancellation and refunds, but does not include other revenues that are generated from 3rd party advertisement on our website, commissions and fees earned from the sale of railway and bus operators and fees earned by facilitating travel insurance policies to customers.

Net Revenues – represents Revenues less Service Costs (costs of procuring the relevant services for sale to customers,
including procurement costs paid to hotel and package suppliers for the acquisition of hotel rooms, sightseeing costs, local transport costs and on occasion the cost of air tickets when the company pre-purchases air ticket inventory in order to enjoy special negotiated rates and revenues)

Net Revenue Margins – is defined as Net Revenues as a percentage of Gross Bookings, and represents commissions,
fees, incentive payments and other amounts earned in our business. We follow net revenue margin trends closely across our various lines of business to gain insight into the profitability of our various businesses.

Fiscal Year End – March 31st

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Key Investment Highlights India’s Leader in Online Travel & eCommerce Strong Supplier Partnerships & Innovative Distribution Channels Advanced & Secure Technology Platform Highly Scalable Operating Leverage Experienced Leadership Team Aligned With Shareholders Multiple Strategies to Drive Earnings Growth .

Business Overview .

4 4 2.0 Rapidly Growing Middle Class All India Households by Income Brackets MM Households 150 114 12 11.India: A Growth Story 4th Largest Economy Globally 2011 GDP at Purchasing Power Parity US$ Trillions 16 15.3 100 8 547 MM people 54 4.4 15.3 4.4 50 31 160 MM people 267 MM people 0 European Union USA China India Japan Russia Brazil 0 2011 2016 2026 Source: The CIA World Factbook (2011 estimates) Source: The Economic Times 6 .4 2.

5 million smartphone shipments in CY2011.Internet Population Growing Rapidly Rapid Growth in Internet Users Million Users Forecasted to Expand Further  121* Total net users to reach 250 million by 2015 (IAMAI) 120 100 100 81 80 62 60 42 40   12 million broadband connections growing to over 160 million households by 2014 (TRAI Plan) 350 million 3G connections by 2015.5million by 2015 (CyberMedia Research & IDC) 20 0 2007 2008 2009 2010 2011 2007-2010 Data Source: Internet World Stats *2011 Estimates: Indian Market Research Bureau (IMRB) & Internet & Mobile Association of India (IAMAI) Current 10% Net Penetration Provides Plenty of Headroom to Grow 7 . forecasted to grow to 77. up from 140 million in 2011 (Wireless Intelligence)  15.

Fast Adoption of Online Travel Bookings Growing Travel Market Total Travel Gross Bookings in India US$ MM 24.500 4.524 16.362 3. 2010 India: Fastest Growing APAC's Online Travel Space in 2012 8 .813 Rising Penetration of Online Booking Total Online Gross Bookings in India US$ MM 7.652 15.342 3.808 5.000 17.000 22.000 8.027 19.000 1.922 6.500 7.500 0 2009 2010 2011 2012 0 2009 2010 2011 2012 Source: PhoCusWright.000 4.

000 plus rooms. Boeing. individual airline websites.Travel Industry Capacity Coming Online Indian Air Carrier Fleet Size & Orders Airline Air India Jet Airways KingFisher GoAir IndiGo SpiceJet Jet Lite Total Hotel Chains to Increase Available Rooms Accor Hotels: 90 more hotels planned by 2015. 2012 9 .com. plans to have 14 hotels in next 2 years Carlson Hotels: 100 total hotels planned by 2015 “Ambitious 2015” plan Capacity expected to grow more than double ITC : looking to double its room inventory to 16. 21 operational by 2013 In Service 121 100 64 12 49 39 19 404 Orders & Options 30 39 69 79 226 54 0 497 Hilton: currently operates 5 hotels.700 rooms in 24 months +100k rooms to be added by 2015 Sources: Airbus.com. or 40 properties IHCL: will add 27 properties or 3. as of January 31.

5 10 6. 2014 Country Name (‘000 Indian Departures) 15 France (392) UK (801) USA (607) Italy (403) Egypt (773) China (434) Hong Kong (297) Malaysia (916) 11.1 Top Destinations for Indian Outbound Travelers.Market Expands Beyond Domestic Travel Growing Outbound Departures by Indians MM People 20 18. 2010 2009 2014 Indian Outbound Travelers Forecasted to Reach 50+ million by 2020 – (UNWTO) 10 .2 5 UAE (984) Thailand (572) Singapore (941) 0 2004 Source: Euromonitor.

0 million monthly unique visitors (December 2011 comScore) Source: PhoCusWright. Mar 2010 11 .Market Leader in India’s OTA Industry #1 in Gross Bookings in Total Gross Bookings Others 10%  Most visited online travel website in India  Single largest seller of air tickets for all Indian Full Service & Low Cost Carriers Cleartrip 18% 48% Yatra 24%  Largest producer of online room bookings for many hotel chains in India  Largest domestic e-commerce company with over 4.

5 million visits per month in Fiscal Q3  HSBC Partnership .e. conversions. first call resolutions.Hotels 3. customer satisfaction  Web infrastructure 24x7 alert systems Open Work Culture to Drive Innovation & Growth  #3 in Great Places to Work (India 2011) 12 .0  Simple & fast responding booking engines  Innovative Customer Service Online Support  Customer Loyalty Program – MyTripRewards Operational Excellence  Web analytics to manage site traffic & enhance conversion rates  Continuous monitoring of key metrics i.Co-Branded VISA card Superior User Experience  User-friendly interface (online & offline) .Keys to Our Success Strong Brand Recognition  “Best Online Travel Agency & Best Domestic Tour Operator” -Times of India 2011  High rates of repeat & direct site traffic  Most searched online travel brand with average of 8.

Domestic Small and Medium Enterprises 13 .Offering Comprehensive Travel Services and Products Air Ticketing 75% % of Net Revenue (LTM 12/31/2011) Air Ticketing Domestic Flights (within India) International Flights (inbound & outbound to/from India) Hotels & Packages Holiday Packages in India International Holiday Packages Emerging Segments 4% Standalone Hotel Reservations Hotels & Packages 21% Flight Plus Hotel Deals Emerging Segments Travel Insurance Rail Ticketing Bus Ticketing Car Hire Website Advertising Large Target Market: Indian Middle Class. Non-Resident Indians.

Established Strong Airline Partnerships All Domestic Full Service Carriers (GDS) All Domestic Low Cost Carriers (Direct Connects) All Major International Airlines (GDS) Single Largest Air Ticketing Agent for All Domestic Full & Low Cost Carriers in India 14 .

Widest Availability of Domestic Hotels 7.500+ properties in India 5% 8% 30% 18% 39% Increasing Choice & Selection to Capture Growth Trend in Online Hotel Bookings 15 .

Hotels 3.0 Enhance Shoppers’ Experience Improved User Interface Select & Purchase Hotels on a Map Shortlisting & Saved Results Destination Inspiration Hotel Booking Conversions Increased Since Launch 16 .

Innovative Holiday Packages & Bundled Products More choices in holiday packages versus online competitors Greatest proportion of non air net revenue in the Indian OTA industry 17 .

” -Kamal Kishore Corporate Head .a challenge that they had willingly accepted” .Pradeep Kalra.” Geetika Bahri | Asst.Top OTA Seller of Hotel Rooms In India Starwood Hotels India “Today MakeMyTrip is the single largest OTA provider for Starwood Hotels in India and we are committed to strengthening this partnership as we continue to grow” -Devdutta Banerjee. With new hotels being added to our portfolio.” Jai Motihar . Their productivity has been consistent and timely for us to be able to plan our yields better and at the same time MMYT has given us a brilliant platform to showcase our unique hotels portfolio. Regional Director of Revenue Management Sarovar Hotels “On a year round basis MakeMyTrip is now our single largest online producer exceeding Expedia in productivity. we are confident that our partnership will be fruitful and productive for both of us.” -Rahul Pandit. President & COO (Lemon Tree Hotels) LaLit Suri Hospitality Group “MakeMyTrip is our largest OTA seller for The Lalit Hotels in India.Corporate Head-Revenue Management Fortune Hotels “We are committed to strengthening our partnership with MakeMyTrip as they are our largest OTA seller of hotel rooms for Fortune.Revenue Management & Channel Distribution | The LaLiT Suri Hospitality Group Keys Hotels “MakeMyTrip is the largest OTA for Keys Hotels in India and we are consistently growing in our association as higher numbers are flowing in from MMYT and as we continue opening new hotels across India. Revenue Manager | Fortune Park Hotels Ltd... Largest Online Producer of Room Bookings for Most Hotel Chains in India 18 . SVP Sales & Marketing (Sarovar Hotels) Lemon Tree Hotels “Today MakeMyTrip is our largest OTA seller for Lemon Tree hotels and we are committed to strengthening this partnership going forward.

com (August 2011) • • Technology team acquisition User Generated Content & Social Media My Guest House (November 2011) • • Access to ultra budget accommodation inventory Last room availability technology 19 .Acquisitions & Investments to Drive Non Air Growth Luxury Tours & Travel (May 2011) • • • Increase hotel selection in Southeast Asia Enhance travel experience Net revenue margin expansion iXiGO.

B2B and B2C Services Social Network Presence 20 .000+ Affiliate Travel Agents in 700+ cities. Multiple Locations.Sales and Service Channels Online 19 MakeMyTrip Travel Stores Mobile Website & Smartphone Apps Ludhiana Delhi / Gurgaon Jaipur Lucknow Guwahati Ahmedabad Indore Kolkata Rajkot Vadodra Sur Nagpur at Nasik MumbaiPune Hyderabad Goa Bangalore Chennai Call Center: 950+ Tele Agents. Multilingual 11.

Flexible Payment Options and Customer Service Channels All Major Payment Options Accepted *Credit Cards *Net Banking *Cash Card *Debit Cards *Cash on Delivery *Easy Pay Online Customer Support Module Cancel. Track bookings. bypassing call center 21 . Modify.

Secure and Scalable Technology Platform Robust.Advanced. B2C and Mobile platforms 22 . Reliable and Fully Integrated Technology Platform Simple booking process Web-enabled centralized booking system Scalable search and caching. Comprehensive results. Quick response time Enhanced Security by Visa payment gateway for online transactions Integrated B2B.

YouTube) 23 . niche holiday players  Optimizing travel supply procurement (Luxury Tours & Travel)  Acquire & invest in technologies to accelerate growth (ixigo.Multiple Strategies Driving Growth Broaden Geographical Reach  Expand footprint into regional geographies (Partnerships with Tourism Boards)  Target geographies with high non-resident Indian populations (UAE) Expand Product Diversity  Increase revenue share of Hotels and Package business  Cross sell higher-margin services and products  Continue to invest in new product categories to offer a 1-stop shopping solution Selective Acquisitions and JVs to Further Enhance Value  Focus on regional.com. Twitter.0 website) Leverage social networks to acquire new customers (Facebook. My Guest House) Enhance Core Technology Advantage Continue enhancement of user experience (Hotel 3.

Financial Overview .

YTD FY2012 FY2008 FY2009 FY2010 FY2011 9 mo.7 6 17 2 19 31 48 48 0 Air Ticketing Note: 1.2 8 648 30 626 20 25 0.5 15 11 50.Capitalizing on Growth Trends Gross Bookings (US$ MM) 800 742 95 600 50 466 57 400 313 52 225 200 26 261 199 409 10 14 0 FY2008 FY2009 FY2010 FY2011 9 mo. Net Revenues represent Revenues Less Service Cost Hotels and Packages Emerging Segments 25 . YTD FY2012 Net Revenue (1) (US$ MM) 70 746 61 121 60 2.1% YoY 66 2.6 40 40 1.

0 6 5.3 45 44.2 20 17.9 45.4 10 20 5 1 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY2011 FY2012 FY2011 FY2012 FY2011 FY2012 Note 1: Fiscal years refer to year ending March 31 (fiscal) Note 2: Hotels & Packages results include acquisition of Luxury Tours & Travel Peak Travel Quarters: Fiscal Q1 (AMJ) & Q3 (OND) 26 .4 15 51.3 74.2 4 3.2 120 110.7% YoY Gross Bookings (in $ million) 50 61.8 25 60 50.Seasonality in Our Hotels & Packages Business Transactions (‘000s) 118.7% YoY Net Revenue (in $ million) 7 81.9 2.9 40 100 35 80 73.4 21.2 27.9 3 2.3 5 31.1% YoY 5.1 2 3.5 2.2 30 28.6 40 31.7 42.

7% 8.4% 8% 7.Net Revenue Margins Net Revenue as % of Gross Bookings 10% 8.9% Air Travel 8% 7.4% 7.5% 10.0% 12.5% 2% 12% 8.3% 7. YTD FY2012 27 .6% 9% 0% FY2008 FY2009 FY2010 FY2011 9 mo. YTD FY2012 Effective Product Bundling Mark up on Net Rates 6% FY2008 FY2009 FY2010 FY2011 9 mo.2% Multiple sources underline model’s resilience  Commissions and incentives from airlines  Service fees from customers  Fees from GDS partner 7% 6% 6% FY2008 FY2009 FY2010 FY2011 9 mo.8% 7.1% 7.9% 11.5% 7. YTD FY12 4% Hotels and Packages 15% 14.6% 7.

7% 18.0% 44.0% (10) -$10.3% 37.3% 19. All figures as a % of Net Revenues.Scalable Business Model Driving Operating Leverage Operating Costs (1) 200% Operating Profit (1) (US$ MM) FY2008 10 190% FY2009 FY2010 FY2011 9 mo.6 94% 89% 20.7% 16.2% (15) -$16.6% 24. YTD FY2012 $8.0% 135% 34.9% 7.0% 5 $0.4% (5) 1.2 150% 74.9% 100% 47.1% 24.0% FY2009 15.3% FY2010 SG&A 30.0 0% FY2008 FY2011 Marketing Costs (20) Payment Gateway Costs Personnel Costs Note: 1.6% 49.5% 12.8 0 $4.4% Operating Profit Margin 50% 30.2 22. Costs exclude stock based compensation charges 28 .

0) New mid-office system for non air business Long term net revenue margin and operating margin outlook intact Air Net Revenue Margin: 6.6.Outlook FY2012 guidance: Revenue less service cost range of $86 .5% Hotels & Packaging Margin: 14.0% .15.0% Adjusted Operating Margin: 25% .$88 MM Continue to invest in technology to enhance user experience Incremental CapEx of US$5 – US$6 MM during FY2012 Complete upgrade of website (Hotel 3.0% .30% 29 .

Key Investment Highlights India’s Leader in Online Travel & eCommerce Strong Supplier Partnerships & Innovative Distribution Channels Advanced & Secure Technology Platform Highly Scalable Operating Leverage Experienced Leadership Team Aligned With Shareholders Multiple Strategies to Drive Earnings Growth .

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