Rikant Pittie, co-founder of EaseMyTrip, made headlines with his purchase of a INR 99.34 crore commercial property in Gurugram's Sector 32. The property spans 4,050 square meters near Rajiv Chowk and boasts a built-up area of 1,00,429 square feet. Pittie, known for transforming his teenage travel agency into EaseMyTrip.com, has become a major player in online travel. EaseMyTrip has seen remarkable growth and remains profitable since its inception in 2008. Pittie's latest acquisition reflects his commitment to expanding his business empire.
Rikant Pittie, co-founder of EaseMyTrip, recently bought a commercial property in Gurugram for INR 99.34 crore. Documents by CRE Matrix show Pittie's purchase of a commercial property in Gurugram’s Sector 32. The property near Rajiv Chowk covers 4,050 square meters and has a built-up area of 1,00,429 square feet. The property was previously owned by Knaup Management Services Pvt Ltd.
On November 24, 2023, the sale deed was completed in Pittie's name. According to the records, he paid a stamp duty of INR 6.95 crore for the transaction.
When Pittie was just sixteen years old, he and his brothers had founded a travel agency. They changed it into the online travel start-up platform EaseMyTrip.com in 2008 to cater to end users. The company today has offices across various Indian cities, including Noida, Delhi, Gurugram, Bengaluru, and Mumbai.
EaseMyTrip offers users access to over 400 international and domestic airlines and a selection of over 2 million hotels, train/bus tickets, and taxi rentals for major Indian cities. It is one of the largest online travel platforms in terms of air ticket bookings, according to the Crisil Report on the OTA Industry in India, February 2021. The company has grown at a CAGR of 59% in profits during FY20-23 and has remained profitable since its inception.
This new property purchase showcases Pittie's commitment to expanding his business horizons.
This is the latest in a string of high-value property transactions in the Delhi-NCR region of late. In October 2023, MakeMyTrip group CEO Rajesh Magow purchased a 6,428 sq ft apartment in DLF Magnolias, also in Gurugram, for INR 33 crore. In August 2023, comedian and actor Bhuvan Bam had bought a bungalow in Greater Kailash-III in South Delhi for INR 11 crore. In May 2023, Lenskart co-founder Peyush Bansal purchased a house in Neeti Bagh for INR 18 crore.
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