Deep Kalra, founder and chairman of MakeMyTrip, who built the company from a US-India travel website into one of India's leading online travel platforms.
Deep Kalra founded MakeMyTrip in 2000 and built it into India’s leading online travel platform. Explore his journey, funding, IPO, growth and strategy.
Written by TFN Research Desk | covering startups, technology, venture capital, and business strategy.
Table of Contents
- Who is Deep Kalra?
- Early Life and Education
- Career Before MakeMyTrip
- How MakeMyTrip Started
- Funding History
- Revenue Growth and Recent Developments
- Public Recognition
- MakeMyTrip vs Competitors
- Investor Perspective
- Founder Timeline
- Key Takeaways
- FAQs
- Sources
- SEO Metadata Block
Who is Deep Kalra?
Deep Kalra is the founder and Chairman of MakeMyTrip, one of India’s largest online travel platforms. He founded the company in 2000, initially targeting the US-India travel market before launching its Indian website in 2005. Today, MakeMyTrip operates across flights, hotels, holidays, buses, trains and other travel services.
Early Life and Education
Kalra holds a bachelor’s degree in Economics from St. Stephen’s College, Delhi University, and an MBA from IIM Ahmedabad. His education gave him a foundation in economics and management before he moved into banking, finance and eventually entrepreneurship.
His decision to enter online travel came at a time when internet adoption in India was still limited. The opportunity was not obvious, which meant the business had to survive several difficult years before online travel became mainstream.
Career Before MakeMyTrip
Before founding MakeMyTrip, Kalra worked with ABN AMRO, AMF Bowling and GE Capital India. These roles gave him exposure to finance, sales, management and consumer businesses.
He eventually moved toward entrepreneurship and became involved with the internet economy. MakeMyTrip was launched in 2000 with a specific focus on helping non-resident Indians book travel between the United States and India.
The company survived the dot-com crash and several disruptions that affected the travel industry. Those early years tested whether an online travel model could survive before consumers were fully comfortable booking travel on the internet.
How MakeMyTrip Started
MakeMyTrip initially focused on the US market because India’s domestic online travel market was still too small. In September 2005, the company launched its Indian website and began serving domestic travellers.
The shift coincided with the growth of low-cost airlines and increasing consumer comfort with online transactions. Instead of relying entirely on traditional travel agents, customers could search and book flights themselves.
The company eventually expanded beyond air tickets into hotels, holiday packages, buses, trains and other travel-related services. Its combination with the ibibo Group in 2017 further strengthened its position through brands including Goibibo and redBus.
Funding History
| Round | Year | Amount | Lead Investor |
|---|---|---|---|
| Series A | 2005 | $10 million | SAIF Partners |
| Series B | 2006 | $13 million | Helion Ventures, Sierra Ventures, SAIF Partners |
| Series C | 2007 | $15 million | Tiger Global, Helion Ventures, Sierra Ventures, SAIF Partners |
| IPO | 2010 | Approximately $70 million | Public investors |
| Post-IPO Equity | 2017 | $330 million | Ctrip, Naspers |
MakeMyTrip raised its first major institutional round from SAIF Partners in 2005. It followed that with $13 million in 2006 and $15 million in 2007 before going public on Nasdaq in 2010.
The 2010 IPO raised approximately $70 million and became one of the landmark US listings by an Indian internet company.
Revenue Growth and Recent Developments
| Fiscal Year | Revenue | Net Profit |
|---|---|---|
| FY25 | $978.3 million | $95.3 million |
| FY26 | $1.044 billion | $51.7 million |
MakeMyTrip crossed $1 billion in annual revenue in FY26, with revenue rising to $1.044 billion. Gross bookings also reached $10.39 billion, while adjusted operating profit increased to $188.8 million.
The headline profit number was weaker, however. Net profit fell to $51.7 million from $95.3 million in FY25, partly because of higher tax and financing costs. Adjusted net profit remained significantly higher at $170.9 million.
Public Recognition
Kalra has received several major business recognitions. MakeMyTrip identifies him as a recipient of the Ernst & Young Entrepreneur of the Year award in 2011 and the Internet Person of the Year recognition at the India Digital Awards in 2010.
He is also a founder and trustee of Ashoka University and remains active in India’s startup, technology and travel ecosystem.
MakeMyTrip vs Competitors
| Company | Founded | Positioning |
|---|---|---|
| MakeMyTrip | 2000 | Full-service online travel platform |
| Yatra | 2006 | Online travel and corporate travel |
| EaseMyTrip | 2008 | Online travel and booking |
| ixigo | 2007 | Travel booking and transport |
MakeMyTrip’s advantage is scale. Its ecosystem covers flights, hotels, buses, trains and other travel services through MakeMyTrip, Goibibo and redBus.
Competitors such as EaseMyTrip, Yatra and ixigo compete strongly in individual categories, but MakeMyTrip remains one of India’s largest online travel businesses by overall revenue and bookings.
Investor Perspective
Kalra’s strongest asset is endurance. MakeMyTrip was founded when online travel in India was still a niche market, and the company survived years when funding was difficult and consumer behaviour had not yet shifted online.
The business also benefited from choosing the right moment to scale. The growth of low-cost airlines, smartphones and digital payments transformed travel booking into an online-first activity.
The challenge now is different. MakeMyTrip is no longer an early-stage internet company. It operates at significant scale and faces intense competition, changing customer expectations and rapidly evolving technology.
AI-powered travel search and booking could improve efficiency and change how customers discover trips. MakeMyTrip therefore needs to keep defending its market position while ensuring that scale continues to translate into sustainable earnings.
Founder Timeline
- 2000: Founds MakeMyTrip.
- Early 2000s: Builds the company around the US-India travel market.
- 2005: Launches MakeMyTrip’s Indian operations.
- 2005: Raises $10 million from SAIF Partners.
- 2006: Raises $13 million from Helion Ventures, Sierra Ventures and SAIF Partners.
- 2007: Raises $15 million led by Tiger Global and existing investors.
- 2010: MakeMyTrip lists on Nasdaq.
- 2017: MakeMyTrip combines with the ibibo Group.
- 2021: Kalra moves into the Group Chairman and mentor role.
- 2026: MakeMyTrip crosses $1 billion in annual revenue.
Key Takeaways
- Deep Kalra founded MakeMyTrip in 2000.
- The company initially focused on US-India travel before entering India’s domestic market in 2005.
- MakeMyTrip became a Nasdaq-listed company in 2010.
- The company crossed $1 billion in annual revenue in FY26.
- Kalra remains Founder and Chairman while Rajesh Magow serves as Group CEO.
FAQs
Who founded MakeMyTrip?
Deep Kalra founded MakeMyTrip in 2000.
What is Deep Kalra’s current role?
He is the Founder and Chairman of MakeMyTrip.
Where did Deep Kalra study?
He studied Economics at St. Stephen’s College, Delhi University, and completed his MBA at IIM Ahmedabad.
What did Deep Kalra do before MakeMyTrip?
He held senior roles at ABN AMRO, AMF Bowling and GE Capital India.
When did MakeMyTrip enter India?
MakeMyTrip launched its Indian website in September 2005 after initially serving the US-India travel market.
When did MakeMyTrip go public?
MakeMyTrip completed its Nasdaq IPO in August 2010, raising approximately $70 million.
Is MakeMyTrip profitable?
Yes. MakeMyTrip reported $51.7 million in net profit for FY26, although this was lower than FY25’s $95.3 million.
What is Deep Kalra’s net worth?
His current personal net worth is not reliably publicly disclosed.
What awards has Deep Kalra received?
His recognitions include the Ernst & Young Entrepreneur of the Year award and Internet Person of the Year recognition.
Is MakeMyTrip still led by Deep Kalra?
Kalra remains Founder and Chairman, while Rajesh Magow serves as Group Chief Executive Officer.
Sources
MakeMyTrip, Official Company Profile and Leadership
https://www.makemytrip.com/about-us.html
FY26 Results and SEC Filing
https://www.sec.gov/
MakeMyTrip, FY25 Annual Report and SEC Filing
https://www.sec.gov/
Economic Times, MakeMyTrip Funding History
https://economictimes.indiatimes.com/
Economic Times, MakeMyTrip IPO and Founder Journey
https://economictimes.indiatimes.com/
YourStory, MakeMyTrip Funding Timeline
https://yourstory.com/
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