Livspace revenue increases 85% to Rs 1,100 crore in FY23

Livspace revenue: The revenue of home renovation platform Livspace increased by 85 per cent during the last fiscal year, according to a report by PTI. The company reported that its revenue increased to around Rs 1,100 crore (Singapore Dollar 188 million) from Rs 595.35 crore (Singapore Dollar 101.75 million) in the previous fiscal year.

The company also reported that its EBITDA loss, also known as operating loss, narrowed from Rs 578.43 crore (Singapore Dollar 98.86 million) in the previous fiscal year to Rs 557.89 crore (Singapore Dollar 95.35 million) in FY23.

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."

According to the report, by the end of FY24, the company is aiming to become cash positive, while also continuing to invest in strategic partnerships. Livspace is also looking at merger and acquisition opportunities actively in order to accelerate growth and improve its position in the market.

The company uses its proprietary technology to provide a one-stop renovation solution to homeowners, covering everything from design to last-mile fulfilment for all the rooms. It operates in over 50 areas in India, along with Malaysia, Singapore, and Middle East. 

So far, Livspace has raised about $450 million (Rs 3,739.07 crore), and has received funding from investors including KKR, Ingka Group Investments, TPG Growth, Goldman Sachs, Kharis Capital, Venturi Partners, FFP, EDBI, Bessemer Venture Partners, Jungle Ventures, Helion Ventures, and UC-RNT. 

(With PTI Inputs)