Livspace Achieves Remarkable 85% Revenue Growth, Nears Rs 1,100 Crore in FY23

16 Sep, 2023

Livspace Achieves Remarkable 85% Revenue Growth, Nears Rs 1,100 Crore in FY23

Livspace, the home renovation platform, has announced an impressive 85% surge in revenue, reaching approximately Rs 1,100 crore in the past fiscal year. This noteworthy growth is a substantial leap from its previous fiscal year revenue of SGD 101.75 million. Livspace's revenue surge to SGD 188 million in the last fiscal year marks a substantial achievement, equivalent to approximately Rs 1,100 crore.

During this period, Livspace also made notable progress in narrowing its EBITDA losses, reducing them from SGD 96.86 million to SGD 95.35 million.

Chief Strategy Officer of Livspace, Ankit Shah, shared insights into this remarkable achievement, stating, "We achieved a top-line growth of 85 percent across our business, resulting in our revenue reaching nearly Rs 1,100 crore. This growth has been fueled by our strategic focus on business expansion, investments in branding and experience centers, and enhancements to our supply chain. We are dedicated to becoming cash positive by the conclusion of Financial Year 2024 and are committed to investing in strategic partnerships to create added value throughout our ecosystem."

Livspace is actively pursuing opportunities for mergers and acquisitions (M&A) as part of its growth strategy, with the aim of fortifying its market presence.

Through its proprietary technology, Livspace offers a comprehensive home renovation solution that covers everything from design to the managed last-mile fulfillment for all rooms in a household.

Livspace currently serves customers not only in India but also in the Middle East, Singapore, and Malaysia, encompassing more than 50 metro and non-metro areas.

The platform proudly reports delivering over 1,20,000 rooms and facilitating the sale of over 5 million stock-keeping units.

In its journey of growth, Livspace has secured substantial capital investments totaling around USD 450 million from a diverse group of investors, including KKR, Ingka Group Investments (a part of the 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.