TBO Tek Q3 FY26 results: 86% revenue growth and stronger operational scale

TBO Tek’s integration of Classic Vacations and a 35% year‑on‑year rise in Gross Transaction Value (GTV) materially increased cross‑border booking flows, pressuring airport‑hotel transfer networks and last‑mile capacity in Q3 FY26 as revenue rose 86% YoY to INR 784 Cr and Adjusted EBITDA (pre‑M&A costs) climbed 53% to INR 115 Cr.

Key financial snapshot at a glance

The quarter combined robust top‑line momentum with improving profitability metrics, driven by Hotels + Ancillaries and Airlines verticals. Monthly Transacting Buyers (MTBs) expanded, supported by a sizeable lift in international bookings.

Operational highlights and regional performance

• Hotels + Ancillaries: +46% YoY led growth; Europe, APAC and MEA each recorded >30% YoY in this segment.
• Airlines: +19.7% YoY, with India showing a rebound into double‑digit growth for the quarter.
• Classic Vacations impact: Contributed a higher GTV‑to‑Adjusted EBITDA conversion (2.46% during the quarter), improving group conversion to 1.18% from 1.05% YoY.
• Cash position: Despite acquisition‑related outflows (~INR 979 Cr), cash and equivalents closed at INR 1,492 Cr, helped by negative working capital in the acquired business.

Management perspective

Co‑founder and Joint MD Gaurav Bhatnagar flagged the quarter as a milestone for integrating Classic Vacations to scale US market access while preserving momentum across existing regions. Co‑founder and Joint MD Ankush Nijhawan highlighted the return of India to double‑digit growth and the resulting boost to Adjusted EBITDA.

What this means for taxi and transfer services

Higher GTV and increased international bookings typically translate into more airport arrivals and hotel check‑ins, which in turn raise demand for transfers, private cars, and chauffeured services. Larger tour‑operator flows—especially from the US and Europe—tend to favour pre‑booked airport transfers, shuttle consolidations, and premium limousine bookings in destination cities. Operators and drivers should have a mind to adjust capacity planning around peak corridors to avoid service gaps and surge fares.

Implications for ride providers and platforms

• Increased international booking share often shifts demand toward fixed‑price airport transfers and multi‑stop itineraries.
• Higher enterprise conversion ratios signal improved unit economics, enabling partnerships between distribution platforms and transfer companies.
• Cash buffers post‑acquisition provide working capital to support promotions, loyalty incentives, and guaranteed‑ride schemes that benefit drivers and passengers.

Risks and considerations for the transfer market

Rapid scale via acquisition can strain operational integrations—dispatch systems, driver licensing verification, and fleet allocation all require harmonisation. Negative working capital in an acquired business can free cash short term but introduce supply‑chain risks if not managed carefully. Pricing transparency and exact fare disclosures become more important as passengers compare options (cab, private car, limousine) across apps and providers.

Practical takeaways for travelers and operators

At a glance, travelers should anticipate fuller transfer schedules at major airports and consider booking exact pick‑up times and confirmed seats in advance to avoid waits. Operators should refine location‑based routing and provide clear price and license information to earn trust from overseas customers.

The report’s key points are interesting and important: strong GTV growth, broad regional expansion, and an improved conversion from bookings to EBITDA. Still, even the best reviews and the most honest feedback can’t truly compare to personal experience. On GetTransfer, you can hire a car with driver from verified providers at reasonable prices. This empowers you to make the most informed decision without unnecessary expenses or disappointments. Readers can benefit from convenience, affordability, extensive vehicle choices, and a wide range of additional options that include exact fare quotes, private seater choices, and verified driver details—transparency and convenience that align with the market developments above. For your next trip, consider the convenience and reliability of GetTransfer. Book your Ride GetTransfer.com

In summary, TBO Tek’s Q3 FY26 performance—marked by an 86% revenue increase and 53% rise in Adjusted EBITDA—signals accelerating demand across hotels, ancillaries and airlines, with cross‑border bookings lifting airport transfer needs and spot demand for taxis, private cars and shuttles. For travelers planning a city transfer or airport pickup, it’s wise to book in advance and check exact fares, vehicle model and driver license details via the app. Platforms such as GetTransfer.com make it easier to get the right car, at the right price and time, whether you need a cheap cab, private limousine, multi‑seater van or exact service to your destination—helping you book the best transfer and avoid last‑minute fare surprises.