Homexchange posts 22% revenue growth in FY24, trims losses

Mumbai-based proptech firm Homexchange saw a 22% revenue growth in FY24, reaching Rs 2.65 crore from Rs 2.17 crore in FY23. Established in 2020 by Jesal Sanghvi and Shirish Godbole, Homexchange enables homeowners to upgrade properties by exchanging their current homes for new builds from partnered developers. Supported by a Rs 31.95 crore funding round led by Oberoi Realty in 2022, Homexchange is valued at Rs 40 crore, with Oberoi holding over 30% equity. Despite reducing expenses from over Rs 9 crore to Rs 8.47 crore, the company’s losses fell to Rs 5.81 crore in FY24. The EBITDA margin and ROCE remain in negative territory, but efficiency improvements have slightly narrowed the loss gap.

#homexchange #proptechindia #mumbairealestate #propertyexchange #thekredible #realestategrowth #startupfunding #startupindia #indianstartups #realestatestartup #news

https://thekredible.com/blogs/....homexchange-posts-22

Ortho Sport witnesses 4X rise in topline in FY23, profits surge

Ortho Sport, founded in 2012 by Dr. Manu Bora, experienced a remarkable 4X revenue increase in FY23, soaring to Rs 2.52 crore from Rs 62.21 lakh in FY22. The Gurugram-based orthopedic clinic specializes in advanced treatments such as Arthroscopic Surgery and Joint Presentation. Despite its growth, expenses surged 6X to Rs 1.84 crore, with employee benefits accounting for over 60% of costs. Profits doubled, reaching Rs 49.80 lakh, up from Rs 20 lakh. Ortho Sport remains unfunded, with undisclosed valuation, and its shares are primarily held by Dr. Bora and Sumitra Bora. In May 2024, it partnered with Pristyn Care to establish a Centre of Excellence for sports injury treatment. EBITDA margin and ROCE declined to 26.82% and 85.48%, respectively.

#orthosport #orthopedicclinic #healthcareinnovation #sportsinjury #jointpreservation #injuryprevention #healthcarepartnership #businessgrowth #healthtech #healthcareexcellence #sportsmedicine #thekredible #news #startup

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IppoPay witnesses 6X rise in topline in FY23, profits surge

Chennai-based fintech IppoPay experienced a remarkable 6X revenue growth, reaching ₹329.77 crore in FY23, up from ₹48.25 crore in FY22. Founded in 2022 by Mohan Karuppaiah and Jai Kumar, IppoPay operates as a payment aggregator, offering solutions like QR codes, sound boxes, and POS systems. The company has raised ₹17.33 crore in funding across three rounds, with its latest seed round in August 2024, and is valued at over ₹90 crore. While revenues soared, expenses also surged 16X to ₹157.38 crore, mainly due to commissions. Profits increased to ₹128.48 crore from ₹28.98 crore in FY22. Despite the growth, the EBITDA margin fell to 53.45%, while ROCE rose to 98.66%.

#ippopay #fintech #revenuegrowth #digitalpayments #fintechindia #financialtechnology #startupjourney #chennaistartups #financialservices #businesssolutions #techinnovation #paymentsolutions #thekredible #news #startup #insights

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WishCare’s top line crossed Rs 19 Cr in FY23, profits rise

Kolkata-based beauty and wellness brand WishCare saw a remarkable 21X revenue growth in FY23, reaching Rs 19 crore, up from Rs 88 lakhs in FY22. Despite this, expenses surged to Rs 14.7 crore, primarily due to material costs, advertising, and employee benefits. Founded by Ankit and Stuti Kothari, WishCare offers natural, toxin-free skincare products. The company raised Rs 20 crore in its first funding round led by Unilever Ventures, making co-founder Ankit Kothari the majority shareholder. Despite rising expenses, WishCare's profits jumped 9X to Rs 3.11 crore in FY23. The company's current EBITDA and ROCE are 23.29% and 122.55%, respectively.

#thekredible #wishcare #kolkatastartup #beautyandwellness #naturalskincare #startupsuccess #skincarebrand #entrepreneurship #startupjourney #skincareindustry #startupjourney #startup #insights

https://thekredible.com/blogs/....wishcares-top-line-c

Lahori posted 5X rise in revenue in FY23, profits surge

Punjab-based company Lahori, founded in 2018 by Saurabh Munjal and Nikhil Doda, recorded a revenue of Rs 214.84 crore in FY23, a 5.7x increase from the previous year. Specializing in non-alcoholic beverages like Zeera, Nimboo, Kacha Aam, and Shikanji, Lahori saw 99.523% of its revenue from product sales. Despite a 6x rise in expenses to Rs 202.90 crore, the company achieved a profit of Rs 7.88 crore, a 2.8x increase. In 2022, Lahori raised over Rs 60 crore in Series A funding led by Verlinvest, with key shareholders including Munjal, Bhutna, Doda, and Verlinvest SA. Its EBITDA margin was 14.72%, and ROCE was 5.96%.

#thekredible #lahoribeverages #businessgrowth #nonalcoholicdrinks #startupsuccess #financialgrowth #investmentsuccess #indianstartups #beverageindustry #lahori

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