NEW DELHI: Home renovation platform Living space reported on Friday that its revenue rose 85 percent to around Rs 1,100 crore in the last fiscal year.
Turnover amounted to 101.75 million Singapore dollars in the previous financial year. This figure rose 85 percent to 188 million Singapore dollars, or about Rs 1,100 crore, in the last fiscal year.
The companies EBITDA losses fell from Singapore dollars 96.86 million to Singapore dollars 95.35 million in the period under review.
In a statement, Ankit Shah, Chief Strategy Officer, Livspace said, “We achieved 85 percent revenue growth across all businesses, with our revenue reaching nearly Rs 1,100 crore. Business expansion, investments in branding and experience centers, and improvement of the supply chain has helped the company achieve high growth in the financial year.”
The company aims to be cash positive by the end of fiscal 2024 and continues to invest in strategic partnerships, creating value across the ecosystem, the statement said.
Livspace is actively pursuing M&A opportunities to accelerate growth and strengthen its market position.
Using its proprietary technology, Livspace offers an all-in-one renovation solution for homeowners – from design to managed last mile execution for all rooms in a home.
Livspace currently serves the Middle East, Singapore and Malaysia, as well as over 50 metro and non-metro areas in India.
Livspace said it has delivered over 1,20,000 rooms and sold over 5 million inventory units through its platform.
The company has raised approximately $450 million in capital from investors such as KKR, Ingka Group Investments (part of the largest IKEA retailer Ingka Group), TPG growthGoldman Sachs, Kharis Capital, Venturi Partners, FFP (Peugeot Group‘s Holding Company), EDBI, Bessemer Venture Partners, Jungle Ventures, Helion Ventures and UC-RNT.
Turnover amounted to 101.75 million Singapore dollars in the previous financial year. This figure rose 85 percent to 188 million Singapore dollars, or about Rs 1,100 crore, in the last fiscal year.
The companies EBITDA losses fell from Singapore dollars 96.86 million to Singapore dollars 95.35 million in the period under review.
In a statement, Ankit Shah, Chief Strategy Officer, Livspace said, “We achieved 85 percent revenue growth across all businesses, with our revenue reaching nearly Rs 1,100 crore. Business expansion, investments in branding and experience centers, and improvement of the supply chain has helped the company achieve high growth in the financial year.”
The company aims to be cash positive by the end of fiscal 2024 and continues to invest in strategic partnerships, creating value across the ecosystem, the statement said.
Livspace is actively pursuing M&A opportunities to accelerate growth and strengthen its market position.
Using its proprietary technology, Livspace offers an all-in-one renovation solution for homeowners – from design to managed last mile execution for all rooms in a home.
Livspace currently serves the Middle East, Singapore and Malaysia, as well as over 50 metro and non-metro areas in India.
Livspace said it has delivered over 1,20,000 rooms and sold over 5 million inventory units through its platform.
The company has raised approximately $450 million in capital from investors such as KKR, Ingka Group Investments (part of the largest IKEA retailer Ingka Group), TPG growthGoldman Sachs, Kharis Capital, Venturi Partners, FFP (Peugeot Group‘s Holding Company), EDBI, Bessemer Venture Partners, Jungle Ventures, Helion Ventures and UC-RNT.
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