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MakeMyTrip Limited MMYT shares have skyrocketed 113.5% year to date (YTD), outperforming the broader Zacks Computer and Technology sector’s return of 26.4%. Over the same time frame, it also outperformed its Internet - Delivery Services industry and competitors, including GoDaddy GDDY, QuinStreet QNST and Asure Software ASUR.
On a YTD basis, shares of GDDY and QNST rallied 74.3% and 60.4%, while shares of ASUR lost 9.5%. The industry appreciated 52.3% YTD.
MakeMyTrip’s outperformance was driven by the increase in gross bookings value, implying investors’ confidence in the company’s AI and data science-driven product portfolio. To enhance its offerings further, MMYT agreed to acquire the Happay Expense Management platform from CRED, integrating advanced expense management capabilities into its services.
The acquisition is expected to significantly enhance MakeMyTrip’s corporate travel offerings. By integrating Happay's proven expense management capabilities and its base of more than 900 corporate clients, MakeMyTrip can provide a seamless, end-to-end travel and expense management solution.
This acquisition strengthens MakeMyTrip’s MyBiz and Quest2Travel platforms, enabling better policy compliance, cost efficiency and fraud control. Happay's data-driven insights and scalable solutions align perfectly with MakeMyTrip's innovation-focused strategy, positioning it as a leader in the corporate travel and expense management market. This move is set to redefine benchmarks in India’s corporate travel sector, benefiting both companies and their clients.
Rich Partner Base Aids MMYT’s Prospects
MMYT is committed to adopting innovative strategies that significantly enhance its product capabilities and streamline its features. So far, the company has completed more than 60 integrations with leading travel and expense management solution partners, including MyClaims, Darwinbox, Zoho and FastCollab.
MakeMyTrip also brought online self-serve Human Resource Management System (HRMS) integrations, connecting more than 200 organisations through the HRMS connector to enhance the management of travel expenses.
MakeMyTrip Limited Price and Consensus
MakeMyTrip Limited price-consensus-chart | MakeMyTrip Limited Quote
In October 2024, MMYT achieved an important milestone by collaborating with India’s ICICI Bank to launch a premium co-branded credit card, specially curated for the aspirational travellers of the country.
This MakeMyTrip ICICI Bank Credit Card elevates the travel experience with unlimited rewards that never expire. It offers a unique value with myCash (MakeMyTrip's reward currency), where 1 myCash is worth rupee 1 in spendable money. It offers 6% myCash on hotel bookings, 3% myCash on flights, holidays, cabs, and buses, and 1% on other retail spending.
MakeMyTrip’s partnership with LEGOLAND Malaysia Resorts in July 2024 to provide holiday packages that blend exciting LEGO adventures with the vibrant cultural experiences of Malaysia is also a notable initiative.
In April 2024, MakeMyTrip partnered with the Singapore Tourism Board (“STB”) to promote Singapore as a top destination for Indian travellers. Together, they will launch campaigns to boost inbound travel in 2024 and STB will utilize MakeMyTrip’s insights to develop tailored holiday packages for Indian consumers.