Latest news with #ArshadKhan
New Indian Express
5 days ago
- Business
- New Indian Express
We will continue to grow faster than the competition: ixigo's Aloke Bajpai
The domestic tourism industry has faced significant shifts in recent weeks, particularly after the unfortunate terror attack in Kashmir, which disrupted travel momentum in the region. In an interaction with TNIE's Arshad Khan, Aloke Bajpai, co-founder and Group CEO of ixigo, shares insights on how the incident impacted bookings, evolving traveller preferences and how ixigo's unique growth strategy that allows them to grow faster than peers. Additionally, Bajpai weighs in on rising hotel prices and this season's hottest travel trends. Edited Excerpts: How has the domestic tourism industry changed in the last one month (since the unfortunate attack in Kashmir)? The Pahalgam terror attacks happened at a time when Jammu and Kashmir was seeing a 70% YoY growth in bookings for us in the month of April. The attacks marked a significant blow to the state's tourism momentum and the region's security environment. At ixigo, our first priority was to ensure the safety and well-being of our travellers. The temporary shutdown of 32 airports resulted in a marginal disruption to flight services, with cancellations affecting 5-8% of the total scheduled flights between May 7 and May 12. While there wasn't much impact on the trains business, our bus business actually saw some increase in demand during this time and hence we did not see much impact at an overall level. What has been the impact of Pakistan airspace closure, and a call for boycott against Turkey and Azerbaijan? Traveller sentiment toward these two countries has clearly shifted, and it's showing up in this summer's booking trends. Internationally, bookings & searches to Japan, Korea, Spain, Paris, Italy, and Singapore are up 20–25% year-on-year, reflecting a growing appetite for global travel. Interestingly, Japan and Korea weren't major blips on the radar last summer, but this year they've emerged as trending hotspots—signaling a clear shift in traveller preferences and a growing appetite for culturally rich, long-haul experiences. ixigo is everywhere - from trains, flights and busses to hotels. What is driving ixigo's growth and where does future growth opportunity lie? If you look at our business strategy, we made a conscious decision to focus on what we call the Next Billion Users. In India, trains are by far the most dominant mode of transport. While flights cater to just about 4–4.5% of the population, trains carry around 22 million passengers daily. That's why we didn't follow the typical Western OTA model, which puts flights at the core and builds hotels and other services around them. In India, that model doesn't scale the same way. Instead, we've flipped the template and built around the dominant travel behavior of Indian users—ground transportation first, everything else layered on top. Thanks to this strategy, we've been consistently growing faster than the market. In Q3 alone, we grew our gross transaction value (GTV) by 48%, clocking over ₹4,000 crores in ticket sales. Flights, in fact, were our fastest-growing vertical, with a 73% GTV growth. In the train travel segment, we're already the largest OTA, holding over 58% market share as of Q3. While our train business continues to grow—27% YoY in Q3 alone—the larger growth opportunity for us now lies in flights, buses, and hotels. Compared to our competitors, our growth velocity is significantly higher—nearly 3x in some cases—allowing us to steadily gain market share in these categories as well. Why are high-spending tourists increasingly choosing international destinations over domestic ones? Many travelers have raised concerns about steep hotel rates and high airfare prices in India—how do you view this trend? This trend is primarily visible at the premium end of the market. When we look at five-star properties, there's a clear supply crunch. Some individual cities in Asia—like Bangkok, Shanghai, or Singapore—have more five-star hotel inventory than all of India combined. As a result, occupancy rates remain exceptionally high—often in the high 80s to 90% range—which is quite remarkable. Giving an example of Goa, travellers who once booked four- or five-star hotels there are now comparing those prices with similar or better experiences in Thailand or Vietnam, where they can access high-quality properties at more reasonable rates—say, ₹10,000 per night instead of ₹20,000. So while the upper segment is seeing some deflection due to higher costs and global competition, the core audience—budget travellers spending between ₹4,000 to ₹8,000 per night—continue to flock to Goa. Where are Indians travelling this season? What are the airfare trends this year? We've seen exceptional growth—anywhere between 60% to 180%—in key leisure sectors like Kullu-Manali and Dehradun. Early trends are encouraging—we're hopeful this summer will outperform last year. In 2023, fares jumped sharply—around 15% YoY—because of grounded aircraft and GoAir exiting the market. This year, capacity constraints are easing. IndiGo has brought back many of its grounded planes, and overall availability is improving. If fares remain stable and capacity continues to rise, we should see strong load factors and potentially a very successful summer season. Among international destinations, we are seeing good traction for destinations like Singapore, Maldives, Vietnam, Bali, and Thailand. Maldives, in fact, is seeing a revival, likely aided by the recent improvement in diplomatic relations. Vietnam has truly taken off. It is clearly resonating with Indian travellers. It seems India is going big on spiritual tourism, especially during the Maha Kumbh period. What sort of growth have you seen here? Oh, it's insane. I mean, if I look at Varanasi, Gaya, Shirdi, Haridwar, Puri, Ayodhya, Katra, I can say we are seeing 66% YoY growth on average. If you look at the numbers, Varanasi now receives 4–5 times the footfalls of Goa annually. And what's interesting is that a large portion of this demand is coming from Tier 2 and Tier 3 towns—even from cities as far south as Coimbatore. We're seeing strong interest in what has become a popular spiritual travel circuit that includes Varanasi, Ayodhya, and Prayagraj. The Maha Kumbh has helped reshape this into a broader spiritual triangle that's gaining momentum.
The Hindu
29-05-2025
- Sport
- The Hindu
‘We are making good preparations for playoffs': GT seamer Arshad Khan ahead of MI clash
Gujarat Titans (GT) seamer Arshad Khan said that the team is preparing well for the ongoing Indian Premier League (IPL) play-offs, discussing past mistakes to improve, and planning for the upcoming match against Mumbai Indians (MI) in Qualifier 1 on Friday (May 30, 2025). Punjab stayed at the top of the standings, while RCB moved to the second spot. RCB have booked a date with Punjab Kings in Qualifier 1 on Thursday (May 29, 2025), while Gujarat Titans, who slipped to third, will face Mumbai Indians in the Eliminator on Friday (May 30, 2025). 'We are making good preparations for the play-offs. We have discussed the mistakes that we have made in the past. And we are preparing to make it better. And we are planning well for the upcoming matches,' Khan said in a media interaction. Arshad also spoke about Gujarat's middle order. 'I think our middle order is not getting exposed. So, no one knows how strong our middle order is... And our lower order is also very good. So, I think that is why everyone is not getting exposed. But it is nothing like that. Our middle order is very strong. And we are preparing for the upcoming matches.' Khan also reflected on their previous fixture against Chennai Super Kings, acknowledging it wasn't their best. He emphasised the importance of winning in the eliminator or qualifier, viewing the extra game as an opportunity to reach and win the final. 'I think our last game was not that good. But now that we are talking about our eliminator, whether we play the eliminator or the qualifier, it is important to win. So, we are getting to play an extra game, which is God's plan. So, we will try to play an extra game and reach the final and then win the final,' he added. Punjab stayed at the top of the standings, while RCB moved to the second spot. RCB have booked a date with Punjab Kings in Qualifier 1 on Thursday (May 29, 2025), while Gujarat Titans, who slipped to third, will face Mumbai Indians in the Eliminator on Friday (May 30, 2025). 'We are making good preparations for the play-offs. We have discussed the mistakes that we have made in the past. And we are preparing to make it better. And we are planning well for the upcoming matches,' Arshad Khan said in a media interaction. Arshad also spoke about Gujarat's middle order. 'I think our middle order is not getting exposed. So, no one knows how strong our middle order is... And our lower order is also very good. So, I think that is why everyone is not getting exposed. But it is nothing like that. Our middle order is very strong. And we are preparing for the upcoming matches.' Khan also reflected on their previous fixture against Chennai Super Kings, acknowledging it wasn't their best. He emphasised the importance of winning in the eliminator or qualifier, viewing the extra game as an opportunity to reach and win the final. 'I think our last game was not that good. But now that we are talking about our eliminator, whether we play the eliminator or the qualifier, it is important to win. So, we are getting to play an extra game, which is God's plan. So, we will try to play an extra game and reach the final and then win the final,' he added.
India Gazette
28-05-2025
- Sport
- India Gazette
"We are making good preparations for playoffs": GT seamer Arshad Khan ahead of MI clash
New Delhi, [India] May 28 (ANI): Gujarat Titans (GT) seamer Arshad Khan said that the team is preparing well for the ongoing Indian Premier League (IPL) play-offs, discussing past mistakes to improve, and planning for the upcoming match against Mumbai Indians (MI) in Qualifier 1 on Friday. Punjab stayed at the top of the standings, while RCB moved to the second spot. RCB have booked a date with Punjab Kings in Qualifier 1 on Thursday, while Gujarat Titans, who slipped to third, will face Mumbai Indians in the Eliminator on Friday. 'We are making good preparations for the play-offs. We have discussed the mistakes that we have made in the past. And we are preparing to make it better. And we are planning well for the upcoming matches,' Arshad Khan said in a media interaction. Arshad also spoke about Gujarat's middle order. 'I think our middle order is not getting exposed. So, no one knows how strong our middle order is... And our lower order is also very good. So, I think that is why everyone is not getting exposed. But it is nothing like that. Our middle order is very strong. And we are preparing for the upcoming matches.' Arshad Khan also reflected on their previous fixture against Chennai Super Kings, acknowledging it wasn't their best. He emphasised the importance of winning in the eliminator or qualifier, viewing the extra game as an opportunity to reach and win the final. 'I think our last game was not that good. But now that we are talking about our eliminator, whether we play the eliminator or the qualifier, it is important to win. So, we are getting to play an extra game, which is God's plan. So, we will try to play an extra game and reach the final and then win the final,' he added. (ANI)
NDTV
28-05-2025
- Sport
- NDTV
"Gods Plan That We Got an Extra Game": Arshad Khan Confident Ahead Of Must-Win Clash vs MI
After suffering a heavy 83-run defeat to Chennai Super Kings, Gujarat Titans have a mountain to climb in the IPL 2025 playoffs. But for Arshad Khan, the left-arm pacer who's quietly become a key cog in their bowling unit, the focus has already shifted to redemption. In a candid conversation, Arshad reflected on the loss, the team's mindset, and what lies ahead in the crucial eliminator against Mumbai Indians—a do-or-die match that will decide who moves one step closer to the final. In a recent media interaction, he admitted the defeat to CSK was a tough pill to swallow. 'I think our last game was not that good, but in the upcoming match, whether we play an eliminator or a qualifier, what holds the most importance to us is winnin,g and it is god's plan that we are getting to play an extra game. So, we will try to win this match and reach the finals and eventually win that one as well". Arshad said while answering NDTV's query. The loss exposed the team's vulnerabilities in both batting and bowling, and critics were quick to question their playoff readiness. However, the 26-year-old pacer remained grounded and optimistic. He said that it's a sentiment that reflects the collective attitude within the Titans' dressing room: shake it off and move forward. The Titans, who dominated the 2022 and 2023 seasons under Hardik Pandya and Shubman Gill 's leadership, respectively, find themselves in a slightly different situation this year. Injuries, inconsistent form, and leadership changes have meant that they've had to fight harder for every win. But players like Arshad, who bring quiet confidence and unwavering focus, have helped them stay in the race. Asked about the pressure of playing a must-win game, Arshad was unfased. 'Every match is important, and every match teaches us something,' he said, echoing the mindset of a seasoned pro. The Titans know that the Mumbai Indians, despite their own ups and downs this season, are a dangerous opponent when it comes to high-stakes matches. But Arshad believes it's not about who the opponent is—it's about how well they execute their plans on the day. As the Titans prepare for the eliminator, the mood in the camp is one of quiet determination. The team has been here before and knows what it takes to succeed. With players like Arshad Khan ready to rise to the occasion, Gujarat Titans are not just aiming for a comeback—they're aiming for the trophy. Listen to the latest songs, only on
New Indian Express
25-05-2025
- Business
- New Indian Express
'We are planning Rs 3,500-4,000 crore projects in FY26'
Mumbai-based realty developer Arkade Developers is planning to launch four projects in the financial year 2026, which will have a combined gross development value (GDV) of Rs 3,500-4,000 crore. The company is confident of maintaining a 20% compounded annual growth rate (CAGR) in the short to medium term after reporting a similar growth in FY25. Last week, Arkade reported profit growth of 27.7% at Rs 157 crore for the year ended March 31, 2025. Revenue for the year rose 9.3% to Rs 695 crore. In an interview with TNIE's Arshad Khan, Amit Jain, chairman and managing director of Arkade Developers spoke about key product launches, competition in Mumbai's housing market, plan for FY2026, the slump seen in housing sales and more. Edited Excerpts: How was FY2025 for you? What are the big launches coming from Arkade in FY26 and what would be their combined GDV? We are planning four key project launches this fiscal. The most significant among them is our Filmistan project in Goregaon. We have three redevelopment projects in the pipeline, located in Santacruz West, Goregaon West, and Malad West. Collectively, these four launches are projected to have a GDV in the range of Rs 3,500 to Rs 4,000 crore. We have been achieving a 20% growth historically and we will be achieving the same in the years to come. Our revenue is expected to grow 20% in FY25 at about Rs 850 crore. FY25 marks a year of prominence in which we acquired the legendary 4-acre land parcel in Goregaon, leased to Filmistan Pvt. Ltd, having an estimated GDV of Rs 2,000 crore. We acquired land parcels and development rights, cumulating to 17.5 acres in western suburbs with a projected GDV of Rs 6,790 crore, including the locations – Andheri, Santacruz, Borivali, Malad and Dahisar. Our expansion strategy into the eastern Mumbai suburbs for the greenfield projects, alongside a solid pipeline of redevelopment projects in the western suburbs, will serve as key growth drivers as we leverage our healthy balance sheet and robust cash flows. Our strategy is aligned with the overall market trend towards luxury housing. With accelerating demand, we are well-positioned to maintain a sustainable growth trajectory. Mumbai's real estate market has become highly competitive with big names such as Adani and Prestige having aggressive pipelines. How do you see this emerging competition for native players like you? There is enough room for everyone to grow in this market. Not every buyer has a budget of Rs 10 crore and upward. There is a lot of demand for 2BHK properties. The redevelopment of old properties is here to stay. There are 20,000 buildings in MMR which are due for redevelopment. There is a big opportunity for us and the other players are also here. Though there is land scarcity in the region, there are many land parcels up for grabs. We are in the process of acquiring a major land parcel in Thane and continue to hold talks with other landowners. Housing sales have been under pressure for the past two quarters. Do you expect the slowdown to continue? Housing is one of the biggest human aspirations and the ambition to buy a new house or shift to bigger homes is always there. The slowdown is temporary but the needs of the house will always be there. There are cyclic phases and they cannot eliminate the industry growth as a whole. Real Estate prices have shot up sharply in recent years. Do you expect property prices to remain at elevated levels? The cost of construction has gone up significantly, be it raw material prices or the GST levied by government bodies. Land prices too have gone up. I do not control the prices, the market forces do. When the construction cost and land prices will come down, then the prices of property may come down. That being said, buyers may turn cautious due to increasing prices but the requirement for homes will always be there.
