Home renovation platform Livspace on Friday reported that its revenue rose by 85 per cent to around Rs 1,100 crore during the last fiscal year.
Its revenue stood at Singapore dollar 101.75 million in the previous fiscal year. The figure rose by 85 per cent to Singapore dollar 188 million, or around Rs 1,100 crore, during the last fiscal year.
The company’s EBITDA losses narrowed to Singapore dollar 95.35 million from Singapore dollar 96.86 million during the period under review.
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In a statement, Livspace Chief Strategy Officer Ankit Shah said, “We achieved a top-line growth of 85 per cent across business, with our revenue reaching nearly Rs 1,100 crore. Business expansion, investment in branding and experience centres, and improving the supply chain helped the company achieve high growth in the fiscal year.” The company aims to become cash positive by the end of Financial Year 2024 and continues to invest in strategic partnerships, creating value across its ecosystem, the statement said.
Livspace is actively pursuing M&A opportunities to accelerate growth and enhance its market position.
Using its proprietary technology, Livspace provides a one-stop renovation solution for homeowners – from design to managed last mile fulfilment for all rooms in a home.
Livspace currently serves the Middle East, Singapore and Malaysia, as well as 50+ metro and non-metro areas in India.
Livspace said it has delivered over 1,20,000 rooms and selling over 5 million stock-keeping units through its platform.
The company has raised around USD 450 million in capital from investors such as KKR, Ingka Group Investments (part of largest IKEA retailer Ingka Group), TPG Growth, Goldman Sachs, Kharis Capital, Venturi Partners, FFP (Peugeot Group’s Holding Company), EDBI, Bessemer Venture Partners, Jungle Ventures, Helion Ventures and UC-RNT.