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𝗖𝘂𝗹𝘁𝗳𝗶𝘁 𝗶𝘀 𝗶𝗻𝗱𝗶𝗮'𝘀 𝗳𝗶𝗿𝘀𝘁 𝗳𝗶𝘁𝗻𝗲𝘀𝘀 𝘂𝗻𝗶𝗰𝗼𝗿𝗻, 𝘃𝗮𝗹𝘂𝗲𝗱 𝗮𝘁 𝟭𝟮,𝟰𝟬𝟬 𝗰𝗿𝗼𝗿𝗲𝘀. Founded in 2016 by Mukesh Bansal and Ankit Nagori in Bengaluru. Operates as a hybrid fitness company combining offline centers, online classes, and D2C retail. Has over 500 gym centers across 300–340 Indian cities. Offers services like Cult centers, CultPass, personal training, home workouts, mental wellness, therapy, and Cultsport products. Revenue in FY23 was ₹694 crore, a 3.2× increase from ₹216 crore in FY22. Revenue in FY24 increased to ₹927 crore, with total income crossing ₹1,027 crore. Net loss in FY23 was ₹551 crore, reduced from ₹688 crore in FY22. Net loss in FY24 stood at ₹535 crore, nearly flat YoY. Gym and fitness segment generated ₹445 crore in FY23 (64% of revenue). Fitness subscriptions (Cultpass + online + offline) brought in ₹670 crore in FY24 (72.3% of revenue). Cultsport (apparel, accessories, equipment) earned ₹257 crore in FY24. EBITDA margin was –18% in FY23 and –22.8% in FY24. ROCE (Return on Capital Employed) in FY24 was –21.5%. Employee count is around 2,500. Total funding raised is over $670 million. Backed by investors like Zomato, Temasek, Tata Digital, Accel, Kalaari Capital, and Sequoia. Acquired F2 Fun & Fitness (Gold's Gym India franchise) in 2022. Operating 14 Cultsport retail stores in cities like Bengaluru, Hyderabad, Delhi. Plans to expand by adding 15–20 new Cultsport stores in 2025. Cultsport contributes nearly 30% to revenue, expected to rise to 50%. Over 40% of their marketing budget goes to digital performance marketing. Ranveer Singh is the brand ambassador. Uses data analytics to decide gym locations and retail expansion. Preparing for an IPO worth ₹2,500 crore (~$300 million), targeting a valuation of $2 billion. IPO bankers include Goldman Sachs, Jefferies, Morgan Stanley, JM Financial, and Axis Capital. App and service receive mixed customer feedback online. Some users report delays in refunds and poor communication when branches close. Other users praise beginner-friendly workouts, clean spaces, and effective trainers. Follow vishakha Jangir for more such insights.