At 55, Deep Kalra is an Indian entrepreneur, founder and Chairman of MakeMyTrip, India’s first online travel platform. His fortune is estimated at $1bn. (source: Forbes, March 2026)
Born in 1969 in Hyderabad, Deep Kalra grew up in a middle-class family between Delhi and Ahmedabad. A graduate in Economics from St. Stephen’s College and later an MBA from the Indian Institute of Management Ahmedabad, he developed early on a strong analytical and strategic foundation. He began his career at ABN AMRO Bank, where he trained in corporate finance, before venturing into entrepreneurship with AMF Bowling. The experience was not successful, but it taught him two essential lessons: understand your market deeply and choose the right timing. In 1999, he joined GE Capital as Vice President of Business Development, further strengthening his expertise in strategy and growth.
The idea for MakeMyTrip emerged almost by chance. While trying to sell his wife’s car online, he realized the potential of the emerging e-commerce market in India. If complex goods could be sold online, why not services? At the time, booking travel remained expensive, opaque, and dominated by traditional intermediaries. In April 2000, convinced that digital technology could simplify and democratize access to travel, he founded MakeMyTrip from his garage in Gurugram, alongside three associates and with an initial funding of $2 million. His initial strategy was to target Non-Resident Indians in the United States, who were more familiar with online payments, in order to validate the model before addressing the Indian market. Just months after launch, however, the bursting of the Internet bubble in 2001–2002 abruptly halted momentum. eVentures withdrew its support and shut down. Deep Kalra demonstrated exceptional determination. He used his personal savings, along with those of his wife Amrita, to buy back the company in what would later be described as a “distress management buyout.” Senior executives accepted significant pay cuts and became co-founders. Junior employees gave up salary increases. The team moved to more modest offices in Okhla, and many slept at the office to reduce costs. This survival period, from 2001 to 2004, forged the company’s DNA: resilience and total commitment.
From 2005 onward, Deep Kalra fully deployed domestic operations, anticipating the rise of the Internet and the emergence of a more mobile Indian middle class. MakeMyTrip expanded into domestic flights, hotels, and holiday packages, becoming an integrated travel platform. Between 2005 and 2010, revenue increased twenty-fivefold, supported by technological investments, strong customer service standards, and key partnerships with IRCTC and major airlines. He firmly anchored online booking into the habits of millions of Indians.
In August 2010, Deep Kalra reached a historic milestone: MakeMyTrip became the first Indian online travel company to list on the NASDAQ. The IPO raised $70 million, and the share price surged 90% on the first day, bringing the company’s valuation close to $1 billion. This success benefited not only MakeMyTrip; it demonstrated to the world that Indian startups could compete globally and access international capital markets. Deep became an inspiration to an entire generation of Indian entrepreneurs. The 2016 merger with Ibibo further consolidated the company’s leadership in the Indian market. A visionary leader, Deep Kalra anticipated sector transformation. He invested heavily in AI to personalize the user experience, developed dynamic recommendations based on behavioral data, and launched the “Collections” feature in 2025 to offer tailored travel suggestions.
He positioned MakeMyTrip as a mobile-first company, recognizing that the future of online travel lies on smartphones. Under his leadership, MakeMyTrip achieved remarkable results in 2024–2025. FY2025 revenue exceeded $980 million (+25% versus 2024), and gross bookings reached a record $9.8 billion. An accessible leader, Deep Kalra values autonomy and initiative while maintaining high standards for customer experience. His ambition is clear: to simplify travel and democratize access to it in a rapidly transforming India. This vision unites teams around a mission that goes beyond technological performance alone. Beyond MakeMyTrip, he actively contributes to India’s broader ecosystem. A founding member of Ashoka University, engaged in the “I am Gurgaon” initiative, and a promoter of more responsible tourism through the MakeMyTrip Foundation, he supports more sustainable and inclusive growth. Through his roles within NASSCOM and TiE Delhi, as well as his investments in young technology ventures, he mentors the next generation of entrepreneurs. Several national honors recognize this impact-driven leadership.
In 2022, he transitioned from Group CEO to Executive Chairman and Chief Mentor, entrusting day-to-day operations to Rajesh Magow while continuing to shape strategic direction. Married to Amrita, who supported him during the difficult early years, and father of two children, he remains committed to a personal balance rooted in Gurgaon, near New Delhi.
In a few figures:
- Headquarters: Gurugram, in India
- Founded: 2000
- Market capitalization: $4,3bn
- Quarterly revenue: $229M (+9% vs Q2 FY2025)
- Gross bookings: $2.4bn (+13%)
- 60M+ active users
- Presence in 10+ countries (India, United States, Southeast Asia, UAE, Latin America)
- Market leader in online travel in India
Tourism sector in India
The Indian online travel market was valued at $23.1bn in 2025 and is expected to reach $33.9bn by 2030, growing at an annual rate of 7.8%. MakeMyTrip dominates the sector with over 60% market share in online travel and appears in 52% of sponsored Google Hotels results in India.
"Entrepreneurship is like a marathon. It’s not a sprint. It requires patience, perseverance, and the ability to bounce back after every failure."
