Miyush Gandhi

Hi, thank you for taking my question. Sir, if you could spend some time on your acquisition strategy, both in terms of business and also in terms of new travel agents on our site?

Is there any benchmark valuation or numbers that you are okay to spend in acquiring companies like price to sales or what would ideally go into deciding the value at which you will acquire something?

Ok and would it be fair to say that a large portion of the travel agents that we report are from India or are they from abroad? You said that a large part of the business is getting booked abroad, but where is the source? Is it in India or outside?