Cleartrip eyes Rs 700 cr turnover this fiscal

New Delhi, Dec 5 (UNI) Country's leading online travel distribution (OTD) company Cleartrip.com today said its turnover will touch Rs 700 crore this fiscal.

''Owing to the huge growth rate, we expect our turnover to touch Rs 700 crore by the end of this fiscal,'' said Cleartrip.com CEO Sandeep Murthy.

The company has a market share of 35 per cent, he added.

The travel market is worth 20 billion dollars and the company expects this growth to happen at the rate of 8.6 per cent growth till 2015.

Cleartrip offers air ticket and hotel reservations. ''We have now forayed into other mediums. We have tied up with Big Bazaar to offer our services,'' Mr Murthy said.

The company has five such outlets in Mumbai and will increase the number to 70 in the next 18 months to cover 46 cities.

Air tickets comprise 79 per cent share of the online transactions, followed by rail tickets at 15 per cent and hotels at 5 per cent, Mr Murthy added.

UNI