Corporate Performance     

Published: February 15, 2025
Updated: February 15, 2025

Eraaya Lifespaces Ltd

Subsidiary EbixCash puts up steller show in Q3 FY2025: Travel divisions’s GMV crosses Rs. 10,000-mn mark

Erayaa Lifespaces Limited (BSE: 531035) is ex cited to announce a significant milestone achieved by its Indian subsidiary, EbixCash, marking a key advancement in the company’s growth journey. The travel division of EbixCash, Ebix Travels Pvt. Ltd. (ETPL), has delivered re markable results for the quarter ending December 2024. Achieving a GMV (Gross Merchandise Value) of Rs. 10,030 million (1003 cr), Net revenue of Rs. 1,110 million (111 cr), and a Healthy EBITDA of Rs. 75 million (7.5 cr).

Among its key segments, the Mercury division, which includes corporate travel, MICE (Meetings, Incentives, Con ferences, and Exhibitions), luxury trains, and Swiss travel, generated Rs. 585.3 million (58.53 cr) in revenue and an EBITDA of Rs. 23.7 million (2.37 cr). This success was driven by strong corporate and MICE bookings, highlighting the robust demand in these areas.

In the luxury train sector, Deccan Odyssey contributed Rs. 112.3 million (11.23 cr) in revenue, though margins were impacted by seasonality. Additionally, other luxury train services, along with the Swiss Travel Bureau GmbH targeting high-end American clients, also contributed positively with Rs. 53.7 million (5.37 cr) in revenue.

The online travel agency, via.com, dem onstrated mixed regional performance, with particularly strong profitability from Indone sia and the Philippines, which generated Rs. 86.8 million (8.68 cr). Singapore is poised to generate positive EBITDA in the next quarter, further strengthening EbixCash’s pres ence in the ASEAN region. India, the Philippines, and Indo nesia collectively contributed Rs. 8,117.40 million (811.74 cr) in GMV, emphasizing the company’s significant regional footprint.

EbixCash’s continued success is also marked by the addition of nine new corporate clients, who are expected to contribute an annualized Rs. 580 million (58 cr), as well as nearing contract renewals with five large corporate clients. These new developments highlight the growing strength and trust in EbixCash’s offerings.

In the rail division, Ebix Travels has maintained its lead ership in luxury train bookings, with a record 1,447 pas sengers served, the highest by any operator since the COVID 19 pandemic. This achievement further reinforces the company’s market dominance.

The MICE division also reported strong performance, handling over 30 groups and 6,000+ passengers, and achieving industry-leading margins of 8.48%. This impres sive result underscores the efficiency and success of the di vision.

Mr. Naveen Kundu- Managing Director, stated, “We are excited to see EbixCash’s travel division continue to excel, reflecting the immense growth potential in the travel and tourism sector. With a robust order book for 2025 and a strong presence in key regional markets, we are confident in our ability to drive further growth and strengthen our lead ership position in the industry. He further added, “Our per formance underscores the growing demand for innovative and customized travel solutions across diverse sectors. We are well-positioned to capitalize on emerging opportunities, ensuring that we remain at the forefront of the market’s ex pansion in the coming years.

Ebix Travels Pvt. Ltd. (Travel Subsidiary of EbixCash Ltd.) is a prominent provider of innovative travel and trans port solutions, offering a broad spectrum of services across several key business areas. EBIX Inc. is a leading international sup plier of On-Demand Software and E-com merce services to the insurance, financial and healthcare industries, EBIX Inc., (NASDAQ: EBIXQ) provides end-to-end solutions rang ing from infrastructure exchanges, carrier sys tems, agency systems and risk compliance solutions to cus tom software development for all entities involved in the insurance industry.

Elevating experiences, embracing heritage. Eraaya Lifespaces is conventionally a premier lifestyle and hospi tality company dedicated to curating unforgettable experi ences worldwide. Rooted in a passion for excellence, we blend luxury, comfort, and style to create immersive envi ronments that transcend mere existence.

Eraaya recently acquired Ebix Inc. USA and its global subsidiaries, the acquisition was concluded following a suc cessful bid in June 2024, and witnessed Eraaya emerging as the top bidder in the auction managed by the U.S. Bank ruptcy Court. The acquisition encompasses full ownership of Ebix Inc. and its global subsidiaries, integrating all associ ated assets and liabilities at an enterprise value commensurating to USD 361 Million (~Rs 3009 Crores appx.) with a net cash pay-out of USD 151.577 Million (INR 1274 Crores appx.).