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Services Sector in India Monthly Update
December 2012
Services Sector – Monthly Update
Top Story Via.com collaborates with Tiger Airways Singapore Via.com, a leading South East Asian travel network with leadership position in India, The Philippines and Indonesia, has entered into a strategic alliance with Tiger Airways Singapore, a leading low cost carrier. With this alliance, Via.com has become the strategic travel agent distributor of Tiger Airways' tickets in India, Indonesia and the Philippines and will boost their strategic initiatives to expand their existing customer base as well as expand into new geographies. The collaboration will enable both the companies to serve the burgeoning Indian business and leisure travel market in a more efficient way. Via.com is India’s largest travel network and has a strong offline distribution grid of more than 20,000 stores across 2,400 cities through which customers will now be able to book flights on Tiger Airways. An array of services ranging from booking of Tiger Airways flight tickets, purchase of ancillary products and hotel bookings will be offered by the company through these stores. As a promotional offer to celebrate this partnership, Tiger Airways is offering low fares starting from INR 3,900 one‐way all‐inclusive of taxes and booking period ranges from 6th ‐ 19th Dec 2012, with travel period from 1st Feb – 31st Mar 2013. News Update
General Hotels.com starts special offer for 1st anniversary of its Welcome Rewards programme Hotels.com, an online hotel booking website is offering travellers from India free accommodation for one night for every ten nights stayed, as a part of the first anniversary celebrations of its Welcome Rewards programme in the country. The Welcome Rewards programme has a global membership base of over 5 mn since its launch in 2008. Using the rewards programme, customers will be able to redeem their free night’s accommodation in over 85,000 hotels across the world, with no blackout periods imposed. Goibibo launches Travel Guide Online travel site, Goibibo.com, has launched a Special Travel Guide for its customers. The travel guide from Goibibo is filled with photos, information regarding how to reach a destination, information on the weather of the place, maps, hotels and holiday information, local and regional sites, sightseeing options, hill stations, beaches, shopping centres and other attractions. The travel guide which has started with information on 101 destinations plans to cover 600 places.
Services Sector – Monthly Update
While the popular holiday spots like Puducherri, Kumarakom and Manali are part of the guide, new and upcoming destinations such as Bekal, Bastar and Kumbakonam is expected to encourage travellers’ to explore these ‘yet to be fully discovered’ destinations. Goibibo has also provided a Facebook connection through which users can share their own knowledge about a place as well as help identify and correct information provided in the guide. VisitBritain and Yatra.com signs partnership Great Britain’s national tourism agency, VisitBritain, and Yatra.com have inked a partnership to create and promote innovative travel packages for the Indian market. The two entities will jointly invest ~INR 9 mn over a period of three months to promote these travel packages to B2B and B2C customers in India. Starting with television commercials that will go on air by the end of Dec, the marketing campaign will encompass print and digital social media networks over this period of three months. The partnership is part of the long‐term commitment of Britain’s national tourism agency to engage with travel trade members in priority markets such as India as a measure to increase the inbound into Britain. VisitBritain is viewing the partnership with Yatra.com as just the beginning of a long process and plans to look at other propositions in the future after evaluating the success of this campaign. Yatra.com will use its brand ambassador, Salman Khan, for the television commercials promoting the VisitBritain packages. The commercials are expected to be ready by the third week of Dec and will go on air as soon as the advertisement slots are available. The print campaign will be launched from mid Jan 2013, and the social media campaign from Feb 2013. Radio cabs in Mumbai to be shared on certain routes Radio cabs might soon be available on sharing basis on select routes in Mumbai, that is, if cab owners accept transport commissioner V N More's proposal. Since taxis were already available on sharing basis across 250 routes in the city, it was felt that fleet cabs, too, should be made available on sharing basis. At present, a cab is used by a single commuter. If the sharing system is introduced, three people will be able to use the same cab which will help reduce traffic congestion as well as prove to be economical for the commuters. The routes on which these cabs will ply have not yet been decided and will only be finalized after consulting the fleet cab owners after they accept the proposal. At present, Meru Cabs operate over 2,000 cabs in Mumbai while TABcab and Easy cabs operate 1,600 and 500 cabs respectively. 100 new AC radio cabs to ply on the streets of Chandigarh The Chandigarh administration has decided to add 100 new air conditioned radio cabs to the city’s existing fleet of radio cabs. The decision of the UT administration will
Services Sector – Monthly Update
provide a huge fillip to the radio cab service in the city. Two companies have been given the responsibility for introducing the new vehicles, one of which will be introducing the vehicles in two phases. The addition of more cabs is expected to make the service more popular in the city. Two operators of radio cabs in the city had earlier pulled out due to the UT administration’s refusal to hike cab fare several times in the past and poor business due to increase in the number of private vehicles in the city. The non‐AC taxi project, even four years after its announcement, has not found any takers as the decision to not allow the display of advertisements on the vehicles has kept the operators at bay. Industry Expert Speak Via.com and Tiger Airways collaborate to provide Indian consumers cheaper flight deals on Tiger Airways – V. Swaminathan, COO, Via.com "We are very excited about partnering with a very reputable airline like Tiger Airways. It is an absolute honour to be the only online travel company to be retailing Tiger Airways' tickets to beautiful destinations such as Singapore, Australia, and Hong Kong. By doing so, we aim to give the Indian consumer the opportunity to experience Tiger Airways and also to explore these exotic destinations without burning a hole in the pocket by offering them great deals on travel, hotels and holiday packages." Transactions (Oct 2012 – Dec 2012)
Date Buyer Target Deal Size (INR mn) % stake Deal Status
Type of Transaction
24th Dec 2012
Kae Capital, Mumbai Angels
Squeakee.com 54.5 N.A. Complete Private Equity
12th Dec 2012
Kae Capital SharedCab.com 50 N.A. Complete Private Equity
29th Nov 2012
Sanjeet Kumar Singh
Perspi Interactive Pvt Ltd
N.A. N.A. Complete Private Equity
Services Sector – Monthly Update
29th Nov 2012 Edelman India Cream Events N.A. 100 Complete M&A
27th Nov 2012
MakeMyTrip India Pvt Ltd ITC Group 175 N.A. Complete
Private Equity
14th Nov 2012 Everstone Capital
Harry's Holdings Ltd 980 100 Planned M&A
7th Nov 2012
MakeMyTrip India Pvt Ltd Hotel Travel Group 1367.2 100 Complete M&A
6th Nov 2012
Mahindra Holidays and Resorts India
Ltd
Mac Boutique Suites N.A. 49 Complete
Private Equity
Annual Financial Results – Revenue (INR mn)
Companies FY ’09 FY ’10 FY ’11 FY’ 12
Blue Coast Hotels Limited 769.21 883.17 918.78 N.A.
Cox & Kings Limited 2869.00 3991.54 4967.39 8449.16
Deccan Chronicle Holdings Limited 10188.90 9219.45 10309.15 9146.50
DLF Limited 104313.57 78508.98 101444.44 96293.80
Eco Recycling Limited 210.37 59.24 164.83 N.A.
EIH Limited 10164.58 8940.00 12749.24 14155.95
Empire Industries Limited 1360.77 1524.56 1759.40 1733.00
Hotel Leela Venture Limited 5821.14 4784.01 5533.50 5710.90
HT Media Limited 13466.01 14129.20 17674.03 19719.90
Info Edge (India) Limited 2458.00 2370.81 3222.86 3918.84
Services Sector – Monthly Update
Infomedia 18 Limited 1637.00 1487.54 1454.31 N.A.
ITC Limited 165561.40 191358.70 225747.00 265517.90
Jagran Prakashan Limited 8233.72 9418.94 12210.89 13249.86
Jindal Hotels Limited 180.35 191.51 230.27 249.47
Kamat Hotels (India) Limited 1235.57 1064.70 1263.70 1477.31
Kilburn Office Automation Limited 353.42 393.61 548.72 N.A.
Lancor Holdings Limited 1519.73 1175.17 1954.09 1027.31
REI Six Ten Retail Limited 8314.74 6909.80 7165.00 6140.51
Royal Orchid Hotels Limited 1401.59 1205.64 1542.19 N.A.
Shriram EPC Limited 10066.17 13673.65 16708.74 18546.34
Thakkers Developers Limited 141.04 371.97 585.40 N.A.
The Indian Hotels Company Limited 27566.30 25625.30 28624.70 34327.10
Thomas Cook India Limited 2652.00 3179.54 3737.93 3775.14
Annual Financial Results – Income (INR mn)
Companies FY ’09 FY ’10 FY ’11 FY’ 12
Blue Coast Hotels Limited 20.38 68.74 (31.57) N.A.
Cox & Kings Limited 628.08 1338.50 1290.86 314.46
Deccan Chronicle Holdings Limited 1423.30 2609.18 1625.83 606.80
DLF Limited 44696.00 17198.30 16396.09 12008.20
Eco Recycling Limited (4.49) 1.45 7.16 N.A.
EIH Limited 1699.55 663.70 (52.30) 1240.84
Services Sector – Monthly Update
Empire Industries Limited 172.34 258.33 285.33 361.00
Hotel Leela Venture Limited 1449.56 410.39 378.20 186.20
HT Media Limited 9.06 1359.14 1809.12 1654.90
Info Edge (India) Limited 570.29 520.76 631.43 1033.29
Infomedia 18 Limited (1007.69) (333.96) (457.20) N.A.
ITC Limited 33245.90 41681.80 50179.30 62581.40
Jagran Prakashan Limited 916.31 1759.03 2077.87 1783.19
Jindal Hotels Limited 15.31 18.35 25.19 30.35
Kamat Hotels (India) Limited 56.61 (14.66) (100.17) (276.56)
Kilburn Office Automation Limited 14.57 12.08 5.61 N.A.
Lancor Holdings Limited 320.09 182.02 322.46 112.06
REI Six Ten Retail Limited 225.97 264.44 290.40 3.19
Royal Orchid Hotels Limited 199.93 69.75 122.21 N.A.
Shriram EPC Limited 335.54 467.57 741.74 415.34
Thakkers Developers Limited 0.78 36.58 120.46
The Indian Hotels Company Limited 124.60 (1368.80) (872.60) 30.60
Thomas Cook India Limited 250.12 471.61 562.40 523.37
Quarterly Financial Results – Revenue (INR mn)
Companies OctDec 2011
JanMar 2012
AprJun 2012
JulSep 2012
Cox & Kings Limited 2,846.2 2,608.4 6,104.3 6,889.2
Deccan Chronicle Holdings Limited 2,439.8 2,195.1 N.A. N.A.
Services Sector – Monthly Update
DLF Limited 20,343.7 32,112.5 21,977.1 20,395.4
Eco Recycling Limited 61.6 N.A. 52.461 N.A.
EIH Limited 3,138.4 N.A. N.A. N.A.
Empire Industries Limited 38.0 870.1 1,222.3 1,093.3
Hotel Leela Venture Limited 1,784.2 N.A. N.A. N.A.
HT Media Limited 5,216.0 5,004.9 4,832.7 5,009.3
Infomedia 18 Limited N.A. N.A. 110.992 125.985
ITC Limited 62,478.4 N.A. N.A. N.A.
Jagran Prakashan Limited 3,170.2 4,429.8 N.A. N.A.
Jindal Hotels Limited 70.148 97.779 57.6 N.A.
Kamat Hotels (India) Limited 347.44 N.A. N.A. N.A.
Kilburn Office Automation Limited 79.789 79.789 38.53 N.A.
Lancor Holdings Limited 148.391 203.461 156.837 N.A.
REI Six Ten Retail Limited 2,975.5 1,599.3 1,939.2 692.9
Royal Orchid Hotels Limited 434.671 467.663 360.4 355.598
The Indian Hotels Company Limited 5,214.8 N.A. 8,525.7 8,138.0
Thomas Cook India Limited 873.0 819.2 1,285.7 999.4
Quarterly Financial Results – Income (INR mn)
Companies OctDec 2011
JanMar 2012
AprJun 2012
JulSep 2012
Cox & Kings Limited (75.7) (161.1) 1,472.1 1,476.0
Deccan Chronicle Holdings Limited 213.3 60.8 N.A. N.A.
Services Sector – Monthly Update
DLF Limited 2,583.5 2,117.0 2,927.9 1,385.1
Eco Recycling Limited 1.95 N.A. 2.02 N.A.
EIH Limited 452.5 N.A. N.A. N.A.
Empire Industries Limited (45.9) 54.3 37.2 0.2
Hotel Leela Venture Limited (996.5) N.A. N.A. N.A.
HT Media Limited 481.6 219.9 406.5 333.1
Infomedia 18 Limited N.A. N.A. (23.738) (33.648)
ITC Limited 17,009.8 N.A. N.A. N.A.
Jagran Prakashan Limited 413.0 415.2 N.A. N.A.
Jindal Hotels Limited 9.177 8.67 6.712 N.A.
Kamat Hotels (India) Limited (0.406) N.A. N.A. N.A.
Kilburn Office Automation Limited (8.408) (8.408) (14.6) N.A.
Lancor Holdings Limited (70.267) 39.637 25.448 N.A.
REI Six Ten Retail Limited (33.7) (3.9) 1.0 (11.9)
Royal Orchid Hotels Limited 25.139 (31.543) 223.61 (121.146)
The Indian Hotels Company Limited 504.8 N.A. (333.6) (574.9)
Thomas Cook India Limited 50.4 7.9 310.1 100.6
Services Sector – Monthly Update
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