TBO Tek's latest investor presentation addresses the potential impact of AI on travel distribution, asserting that its B2B model remains resilient against disintermediation. The company highlights its massive scale, featuring over 1 million hotels and 50,000 transacting agents across 140 source markets. A significant focus is placed on the luxury segment via 'Classic Vacations,' which reported a high 24.9% take rate in Q3 FY26 and an average booking size of $8,600. The strategy involves leveraging AI for complex itinerary creation and operational efficiency to maintain a structural moat that software alone cannot replicate.

TBO Tek Limited has appointed Ms. Aditi Madhok-Naarden as its Global Chief Human Resources Officer, effective February 23, 2026. She brings over 20 years of international HR leadership experience from major global firms including IBM, MasterCard, and Deutsche Bank. This strategic hire is intended to support TBO's global expansion as it manages a workforce of approximately 2,700 employees across six continents. The move highlights the company's focus on institutionalizing its leadership to manage its vast network of 159,000+ travel buyers across 100+ countries.

TBO Tek reported a consolidated revenue of ₹784 crore for Q3 FY26, marking the first quarter of integrating the Classic Vacations acquisition. The enterprise take rate stood at 8.08%, significantly bolstered by Classic Vacations' 24.94% headline rate, while the organic business maintained a steady 6.04%. Although the gross profit to adjusted EBITDA conversion dipped slightly to 23.7% from 25.3% YoY due to integration complexities, the overall GTV to adjusted EBITDA conversion improved to 1.18% from 1.05%. Management noted a strong 16% YoY organic growth in the air business and confirmed that cross-selling synergies have already begun.

TBO Tek reported a robust Q3 FY26 performance with Revenue from operations jumping 86% YoY to ₹784.3 Cr, significantly aided by the integration of Classic Vacations. Gross Total Value (GTV) reached ₹9,709 Cr, marking a 35% increase, while organic GTV grew 21% to ₹8,664 Cr. Adjusted EBITDA (before M&A costs) rose 53% YoY to ₹115 Cr, reflecting strong operational momentum despite margin shifts. The company's global expansion continues with Europe and APAC contributing 30% and 25% respectively to the Hotels & Ancillaries segment GTV.

TBO Tek reported a robust Q3 FY26 performance with revenue growing 86% YoY to ₹784 Cr, significantly boosted by the integration of Classic Vacations. Gross Transaction Value (GTV) reached ₹9,709 Cr, a 35% increase, driven by strong performance in Hotels and Ancillaries which grew 46% YoY. While Adjusted EBITDA grew 53% to ₹115 Cr, PAT growth was more modest at 7.4% YoY, reaching ₹54 Cr, reflecting acquisition-related impacts. The company maintains a strong liquidity position with ₹1,492 Cr in cash despite significant acquisition-related outflows during the quarter.

TBO Tek reported a strong Q3 FY26 with revenue growing 86% YoY to ₹784 Cr, driven by the first-time consolidation of Classic Vacations. Adjusted EBITDA (before M&A costs) rose 53% YoY to ₹114.7 Cr, while Gross Profit increased 63% to ₹483 Cr. The enterprise take rate improved significantly to 8.08%, though the organic business take rate remained steady at 6.04%. Despite a ₹979 Cr cash outflow for acquisitions, the company maintains a robust liquidity position with ₹1,492 Cr in cash and equivalents.

TBO Tek reported a massive 85.7% YoY surge in consolidated revenue from operations for Q3 FY26, reaching ₹7,843.32 million. This growth was primarily driven by the inclusion of Classic Vacations LLC, which was acquired effective October 1, 2025. However, Profit After Tax (PAT) grew at a slower pace of 7.4% YoY to ₹536.92 million due to a significant rise in service fees and employee benefit expenses. The company's nine-month revenue of ₹18,631.20 million has already surpassed its total revenue for the entire previous financial year.

TBO Tek reported a strong H1 FY26 with revenue growing 24.1% YoY to INR 1,078.8 Cr, driven by a strategic pivot toward the high-margin luxury travel market. The company is successfully integrating its Classic Vacations acquisition, which now contributes over $0.6B in US GTV and provides access to 13,000 transacting advisors. Management is focusing on operational leverage, with AI-driven automation now resolving 72% of system-generated tickets. With 40% of GTV coming from high-value bookings over $5,000, the company is well-positioned to capture the structural growth in affluent travel spending.

TBO Tek Limited has released an investor presentation highlighting the growth in the Indian travel market. The India travel market, encompassing air and hotels, is estimated at approximately $48 billion and is projected to grow at a steady pace of 8%. By 2027, India is expected to be the 5th largest outbound tourism market. TBO Tek has a strong distribution network with over 750 airlines and enjoys a first-mover advantage in international air travel.

CARE Ratings has assigned a 'CARE A-; Stable' rating to TBO Tek's new ₹630 crore term loan and reaffirmed ratings for existing facilities. A key development is the removal of the company from 'Rating Watch with Developing Implications', now carrying a 'Stable' outlook. The total rated bank facilities have increased to ₹1,148.50 crore, including an enhanced non-fund based limit of ₹511 crore. This rating action follows a review of the company's audited FY25 and unaudited H1FY26 financial performance.