IntrCity SmartBus gets huge revenue boost in 2023, ambitious targets set for next year, ET TravelWorld


IntrCity SmartBus, a leading player in the intercity bus travel sector, has reported an impressive growth trajectory in 2023, showcasing a resilient performance despite challenges posed by the pandemic. In an exclusive interview with ETTravelWorld, Kapil Raizada, Co-founder, IntrCity SmartBus, shared insights into the company’s achievements, technological advancements, and the evolving trends in the travel industry.

Significant Growth Trajectory in 2023
Raizada highlighted IntrCity SmartBus’s exceptional growth, revealing, “Our network has demonstrated rapidly growing consumer adoption, with annual revenues in FY23 growing 6.5x compared to FY21. This growth has been accompanied by a continuous increase in margins, even during the pandemic interruptions, with the gross profits increasing 9.0x over the same period.”

He emphasised the company’s financial performance, stating, “In the first half of the current fiscal year, we have achieved a revenue of INR 178 crore with an EBITDA profit of INR 2.9 crore. Annual revenues are expected to cross INR 350 crore this year, along with the first full year EBITDA profits.”

In terms of operational scale, Raizada reported, “The IntrCity SmartBus network now reaches 2.5 lakh seats per month with over 100 million passenger-seat-kilometers. The brand is now the market leader across several routes in both North and South India, commanding a 15-20 per cent market share in a traditionally highly fragmented industry.”

Key Drivers and Consumer Experience
Discussing the key drivers for SmartBus’s success, Raizada highlighted, “IntrCity SmartBus functions as a mobility platform, revolutionizing the perception of bus travel and positioning it as a convenient alternative to overnight long distance trains.”

He detailed the unique selling points that set IntrCity SmartBus apart, stating, “Travellers can experience the comfort of private cabins with flat beds for enhanced privacy. Additionally, boarding points with Wi-Fi-enabled AC lounges provide a space to unwind and recharge, complete with in-built washrooms, and on-table food service to ensure hygiene and convenience.”

Raizada emphasised the company’s commitment to safety, mentioning, “IntrCity SmartBus has implemented various measures acknowledging the safety concerns people face, especially women and older individuals, face while traveling on buses. To address these concerns, the platform provides buses equipped with CCTV and WiFi, real-time bus tracking, and secure boarding areas.”

Technological Innovations for Efficiency and Safety
IntrCity SmartBus leverages advanced technology for tasks such as route optimisation, real-time tracking, and enhancing passenger safety. Raizada explained, “The IntrCity Mobility System incorporates several applications including the Consumer Platform, Operator Dashboard, Crew App, IOT-based Fleet Analytics, and a 24/7 Command Centre. This complete platform caters to all aspects of organizing intercity bus services, offering travelers a seamless and exceptional journey experience.”

How India Ubered in 2023 - A year in rear view

Uber India has released highlights of its annual data report – How India Ubered – encapsulating the key trends from how India moved this year. The analysis from the trips in 2023 revealed some very interesting trends about cities with the highest number of trips, the total number of kilometres covered in Uber rides, popular travel trends in intercity travel, the city with the most late-night trips, and also several rider preferences.

He detailed the use of IoT fleet analytics, stating, “The platform employs IoT fleet analytics to establish a network of ‘connected buses,’ ensuring seamless, on-the-go monitoring and efficient operations. This technology allows real-time performance monitoring and analytics for each vehicle, contributing to overall smooth performance.”

Addressing Urban Congestion and Intercity Connectivity
Raizada discussed SmartBus’s role in addressing urban congestion and enhancing intercity connectivity, saying, “SmartBus strategically tackles urban congestion and enhances intercity connectivity through innovative measures. IntrCity SmartBus network provides an affordable & reliable shared public transport, which is the core of creating a greener, de-congested mobility ecosystem.”

He detailed the routing strategy, mentioning, “Our network routing is designed so as to ensure that each bus addresses a specific geographic segment of a city, so as to minimize the distance that travelers have to commute to reach the nearest boarding point of their IntrCity SmartBus.”

Speaking about the diverse demographics of IntrCity SmartBus travellers, Raizada stated, “IntrCity SmartBus caters to a diverse demographic of travellers, influenced by evolving trends and preferences.” He highlighted shifts in travel patterns, saying, “During the Diwali break, there was a significant uptick in travel in and around Goa. Tourist destinations such as Tirupati, Goa, and Manali are projected to experience more than a twofold growth compared to the previous year.”

Raizada also emphasised the platform’s adaptability, noting, “These observations suggest a dynamic and diverse traveler base for IntrCity SmartBus, with preferences spanning both leisure and functional routes. The platform remains adaptable to evolving demographics and travel trends, ensuring a comprehensive and responsive service to meet the diverse needs of its passengers.”

  • Published On Dec 28, 2023 at 12:38 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETTravelWorld App

  • Get Realtime updates
  • Save your favourite articles

Scan to download App

Source link