E-Trav Tech Limited is a B2B travel technology platform that empowers travel agents across India to seamlessly book flights, hotels, holiday packages, and destination services. With a digital-first approach and robust technology backbone, E-Trav acts as a one-stop solution provider for small and medium-sized travel businesses.
Founded to enhance the B2B travel ecosystem, the company merges deep industry insight with a scalable tech stack to offer dynamic travel content through APIs and white-label platforms.
E-Trav operates as an airline consolidator and travel inventory aggregator. It acquires airline seats in bulk at discounted fares (30–50% below market prices) and integrates them with hotel and ground services before redistributing these bundled offerings to travel agents.
The company’s revenue streams include:
Markups on flight and hotel bookings
Commissions on holiday package sales
Tech monetization through its subsidiary Codemagen
This model ensures scale-based margins and recurring revenue from tech-integrated agents.
Flights: The core revenue driver, backed by strong ties with domestic and international airlines.
Hotels: A fast-growing, high-margin vertical with dynamic pricing.
Holiday Packages: Managed under its DMC brand "Eagle Crest," offering end-to-end travel experiences.
Technology via Codemagen: E-Trav’s proprietary tech arm enables API/XML integrations, white-label booking engines, and advanced back-office tools.
The company currently operates 4 destination management companies (DMCs) and plans to launch 13 more by FY 2025–26. These regional hubs manage ground operations like transfers, guides, and hotel coordination, offering a vertically integrated travel solution.
Codemagen powers the entire E-Trav ecosystem with custom APIs, white-label solutions, and booking tools. This in-house technology provides automation, scalability, and tailor-made solutions for partners, giving E-Trav a competitive edge.
E-Trav is well-positioned to capture the evolving travel market driven by:
A rising middle class with increasing travel budgets
Growing digital adoption in Tier-2 and Tier-3 cities
B2B agents transitioning from offline to digital booking tools
With the formalization of India's inbound and outbound travel sectors, E-Trav stands at the forefront of this digital transformation.
As of 31st March 2024, the company had 11.13 crore shares. Three key private placements were executed:
March 2024: Raised ₹33 Cr from EaseMyTrip (55 lakh shares at ₹60/share)
May 2024: Raised ₹10.50 Cr from Minerva Ventures Fund (15 lakh shares at ₹70/share)
January 2025: Raised ₹13.53 Cr (18.04 lakh shares at ₹75/share)
Total shares post placement: 11.46 crore (as of 7th December 2024).
Total Shares: 11.46 Cr
Market Price (Unlisted): ₹100/share
Estimated Valuation: ₹1,146.74 Cr
FY24: Revenue ₹56 Cr | PAT ₹20 Cr | P/E: 57x
| Date | Share Count | Price/Share | Valuation |
|---|---|---|---|
| Nov 2023 | 10.58 Cr | ₹60 | ₹633 Cr |
| Sep 2024 | 11.28 Cr | ₹75 | ₹846 Cr |
| Jan 2025 | 11.46 Cr | ₹100 | ₹1,146 Cr |
E-Trav Tech has demonstrated rapid growth in valuation and profitability despite its modest topline. At an unlisted market price of ₹100 per share, the company commands a valuation of over ₹1,146 Cr. With strong margins, expanding DMC operations, and a tech-first model, E-Trav is a potential IPO candidate in the travel-tech space. It remains a notable name in India’s fast-evolving unlisted market landscape.
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