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Bloom Hotels posts Rs 250 Cr revenue in FY24; profit spikes 2.3X

EntrackrEntrackr · 1y ago
Bloom Hotels posts Rs 250 Cr revenue in FY24; profit spikes 2.3X
Medial

Hospitality chain Bloom Hotels has showcased impressive over fivefold growth in the past two fiscal years, surging its scale from Rs 49 crore in FY22 to Rs 250 crore in FY24. On a year-on-year basis, its operating revenue grew 73.6% in the fiscal year ending March 2024, while the firm’s profit spiked 2.3X. Bloom’s revenue from operations grew by 73.6% to Rs 250 crore in FY24 from Rs 144 crore in FY23, according to its annual consolidated financial statements sourced from the Registrar of Companies. The company operates hotel brands such as Bloom Hotel, Bloom Hub, BloomSuites, and Bloomrooms. Income from the room rental accounted for 85.2% of the operating revenue which surged 79% to Rs 213 crore in the last fiscal year from Rs 119 crore in FY23. The rest of the revenue came from food/beverages and other allied services which stood at Rs 33 crore and Rs 4 crore, respectively. Bloom also added Rs 8 crore primarily from the interest on deposits which pushed its overall revenue to Rs 258 crore in FY24. Currently, it has over 50 hotels located across Mumbai Pune, Udaipur, Jaipur, NCR et al. For the hospitality chain business, the cost of lease rent was the latest cost center, forming 31.5% of the overall cost. In the line of expansion, the cost grew 79% to Rs 77 crore in FY24. Notably, Bloom has entered into multiple operating lease agreements, with lease durations ranging from 5 to 44 years. These agreements encompass a mix of company-owned leased hotels and revenue-linked lease arrangements based on earnings from the leased premises. Its employee benefits and commissions to agents grew by 58% and 78% to Rs 60 crore and Rs 16 crore, respectively. Advertising, legal, and cost of food & beverages were other overheads, taking the total cost to Rs 244 crore in FY24 from Rs 144 crore in FY23. Check TheKredible for more details. The impressive scale and controlled cost boosted Bloom’s profits over two-fold to Rs 14 crore in FY24. Its ROCE and EBITDA margin improved to 6.25% and 10.08% respectively in the last fiscal year. Bloom has improved its expense-to-revenue ratio, reducing it to Rs 0.98 from Rs 1.00 in the previous fiscal year. Its total current assets stood at Rs 118 crore, including Rs 97 crore in cash and bank balances. Bloom Hotels has secured approximately Rs 362 crore (around $45 million) in funding from Samena Capital, which now holds a majority stake in the company. Its competitors Treebo Hotels and FabHotels reported operating revenue of Rs 88.6 crore and Rs 224 crore, respectively, in FY23. Both companies are yet to submit their annual reports for the last fiscal year (FY24).

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Exclusive: Bloom Hotels to raise $9 Mn in new round

EntrackrEntrackr · 8m ago
Exclusive: Bloom Hotels to raise $9 Mn in new round
Medial

Exclusive: Bloom Hotels to raise $9 Mn in new round Delhi-based hospitality chain Bloom Hotels is set to raise Rs 77.7 crore (around $9 million) in its first funding round of 2025, with participation from Samena Capital Limited and Ikonika Holdings. Bloom Hotels' board has approved a special resolution to issue 7.77 crore compulsory convertible preference shares to raise the said amount, according to its filing with the Registrar of Companies (RoC). The proceeds will be used to fuel the company’s growth and expansion plans, the filing added. The hospitality company operates hotel brands such as Bloom Hotel, Bloom Hub, BloomSuites, and Bloomrooms. Currently, it has over 50 hotels across cities including Mumbai, Pune, Udaipur, Jaipur, and the NCR. The company has already secured around Rs 362 crore (approximately $45 million) from Samena Capital, which now holds a majority stake in the hospitality chain. Bloom Hotels is yet to file its financials for FY25. However, the company has witnessed over 5X growth in the past two years, with revenue rising from Rs 49 crore in FY22 to Rs 250 crore in FY24. It also reported a net profit of Rs 14 crore for the fiscal year ended March 2024. It competes with Treebo Hotels and FabHotels, which posted operating revenues of Rs 88.6 crore and Rs 224 crore, respectively, in FY24. It also faces competition from newer players like Salt Stayz and larger brands such as Oyo, through its Sunday Hotels.

Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr

EntrackrEntrackr · 1y ago
Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr
Medial

Treebo crosses Rs 100 Cr revenue in FY24, outstanding losses climb to Rs 488 Cr Treebo Hotels, a premium-budget hotel chain, crossed the Rs 100 crore revenue milestone in the fiscal year ending March 2024. Despite this growth, the Bengaluru-based company saw its losses rise by 17%, bringing total outstanding losses to Rs 488 crore. Treebo Hotels’s revenue from operations grew 22.5% to Rs 109 crore in FY24 from Rs 89 crore in FY23, its consolidated financial statements filed with the Registrar of Companies show. Income from accommodation services (taken on lease and managed properties) formed 95% of the total operating revenue which increased by 22.3% to Rs 104 crore in FY24 from Rs 85 crore in FY23. The rest of the income comes from the sale of products, and subscription services. The company also added Rs 7.22 crore as other income (non-operating) which tallied its overall revenue to Rs 116 crore in FY24 from Rs 94 crore in FY23. Treebo spent 41% of its overall expenditure on employee benefits which increased marginally by 7% to Rs 59 crore in FY24. Its cost and commission surged 70% and 48% to Rs 17 crore and Rs 43 crore in the previous fiscal year. Its cost of materials, legal, technology, traveling, and other overheads took the overall cost up by 22% to Rs 144 crore in FY24 from Rs 118 crore in FY23. The increased advertising and commission costs led Treebo to raise its losses by 16.7% to Rs 28 crore in FY24, compared to Rs 24 crore in FY23. Its ROCE and EBITDA margin stood at -540% and -18.1% respectively. On a unit level, it spent Rs 1.32 to earn a rupee in FY24. The company’s total current assets stood at Rs 34 crore with cash and bank balances of Rs 7 crore in the previous fiscal. According to startup data intelligence platform TheKredible, decade-old Treebo has secured Rs 566 crore (approximately $70 million) in funding from investors including Accor, Elevation Capital, Matrix Partners, and Bertelsmann. The company’s most recent major funding, amounting to $16 million, was raised in June 2021. Treebo competes directly with Bloom Hotels and FabHotels. In FY24, Bloom Hotels saw its operational revenue rise by 73.6% to Rs 250 crore, with a profit of Rs 14 crore. FabHotels recorded Rs 224 crore in operating revenue for FY23 but has not yet filed its FY24 annual report.

FabHotels gross revenue crosses Rs 550 Cr in FY24, losses widen 23%

EntrackrEntrackr · 1y ago
FabHotels gross revenue crosses Rs 550 Cr in FY24, losses widen 23%
Medial

FabHotels gross revenue crosses Rs 550 Cr in FY24, losses widen 23% Casa2 Stays, the parent firm of FabHotels, reported a 34% increase in gross revenue for the fiscal year ending March 2024. However, its loss rose by 23%, driven by a twofold increase in employee benefit expenses. FabHotels’ gross revenue increased to Rs 552 crore in FY24 from Rs 412 crore in the previous fiscal year (FY23), according to its financial statement sourced from the Registrar of Companies (RoC). The revenue for FY23 appears different this year as it marks FabHotels’ first set of financial statements prepared in compliance with Indian Accounting Standards (Ind AS). FabHotels, a budget hotel chain with over 600 properties across more than 50 cities in India, generated 99.4% of its gross revenue from accommodation bookings. Gross revenue increased by 33.35% to Rs 549 crore in FY24. Meanwhile, other revenue sources contributed Rs 3.3 crore. The company also recorded an additional income of Rs 11 crore from interest on deposits and liabilities written off, which pushed its overall revenue to Rs 563.6 crore in the last fiscal year. Accommodation expenses remained the largest cost component forming 74% of the overall cost, which grew by 32% to Rs 435 crore. FabHotels’ employee costs shot up 2X to Rs 92 crore in FY24. This includes Rs 15 crore as ESOP cost. Its commission expenses rose by 8% to Rs 27 crore, while other costs added Rs 34 crore. Overall, total expenses grew by 38.5% to Rs 588 crore in FY24 from Rs 424.7 crore in FY23. The two-fold jump in employee benefits led FabHotel to increase its losses by 23% to Rs 114 crore in FY24, compared to Rs 93 crore in FY23. Its ROCE and EBITDA Margin were recorded at -84.09% and -19.52%, respectively. On a unit basis, the company spent Rs 1.06 to earn a rupee of revenue. At the end of FY24, FabHotel’s current assets stood at Rs 172 crore, including cash and bank balances worth Rs 94 crore. FabHotel has raised around $70 million to date. Accel is the largest external stakeholder with 21.39% followed by Goldman Sachs. FabHotels competes directly with Treebo and Bloom Hotels. In FY24, Treebo surpassed Rs 100 crore in revenue, while Bloom Hotels achieved a 73.6% increase in operational revenue to Rs 250 crore and recorded a profit of Rs 14 crore. FabHotels, with its budget offerings and reach, faces a moment of truth to deliver sustainable profitability that can power future growth. The hospitality sector leaves very little margin for major misses now. FabHotels has placed its bets, with little leeway to change much now. Judgement awaits in the next few months and year, perhaps.

Exclusive: FabHotels gears up for IPO, converts into public company

EntrackrEntrackr · 3m ago
Exclusive: FabHotels gears up for IPO, converts into public company
Medial

Exclusive: FabHotels gears up for IPO, converts into public company Hospitality chain FabHotels changed its status and converted itself into a public company. The board has passed a resolution and approved its conversion, a move that might signal its preparation for a public listing. FabHotels’ parent company, Travelstack Tech Private Limited (formerly Casa2 Stays Pvt Ltd), has passed a resolution to rename the entity as Travelstack Tech Limited by removing the word “Private,” according to its filing with the Registrar of Companies (RoC). Founded in 2014 by Vaibhav Aggarwal and Adarsh Manpuria, Gurugram-based FabHotels is a hotel chain operating over 1,300 properties across more than 50 major Indian cities, including Mumbai, the National Capital Region, Bengaluru, and Goa. According to startup data platform TheKredible, the company has raised around $68 million to date from investors including Accel and Goldman Sachs. Its most recent funding was a $20 million round led by Panthera Partners in September 2023. In FY25, the Accel-backed company’s revenue increased over 20% to Rs 716 crore in FY25, with narrowing losses by 45% to Rs 62.7 crore compared to Rs 114 crore in FY24. FabHotels competes directly with Treebo and Bloom Hotels. While both are yet to file their FY25 numbers, Treebo crossed Rs 100 crore in revenue in FY24, whereas Bloom Hotels saw a 73.6% rise in operating revenue to Rs 250 crore and posted a profit of Rs 14 crore.

Lenskart posts Rs 2,096 Cr revenue in Q2 FY26; profit spikes 20%

EntrackrEntrackr · 2m ago
Lenskart posts Rs 2,096 Cr revenue in Q2 FY26; profit spikes 20%
Medial

Lenskart posts Rs 2,096 Cr revenue in Q2 FY26; profit spikes 20% Eyewear brand Lenskart announced its financial results for Q2 FY26 after debuting on Indian stock exchanges earlier this month. The firm’s revenue increased by 21% during the second quarter while its profit also rose by 20% and neared the Rs 150 crore threshold in the same period. The company’s revenue from operations increased to Rs 2,096 crore in Q2 FY26 from Rs 1,736 crore in the same quarter last year, according to its financial statement sourced from NSE. Other income contributed an additional Rs 33 crore, which drove its total income of Rs 2,129 crore for the quarter. However, for the six months period ending September 2025, the firm’s revenue increased 23% to Rs 3,991 crore in H1 FY26 from Rs 3,256 crore in H1 FY25. On the expense side, cost of material was the largest burn which accounted for 33% of the total expense. This cost increased by 19% to Rs 650 crore in Q2 FY26 from Rs 546 crore in Q2 FY25. Employee benefit expense rose 55% to Rs 502.5 crore in Q2 FY26 from Rs 325 crore in Q2 FY25. Finance cost, depreciation cost were other overheads which added to the total expense which increased by 18.5% to Rs 1,980 crore in Q2 FY26. Lenskart’s profit increased by 20% to Rs 103 crore in Q2 FY26 as compared to Rs 86 crore in Q2 FY25. On a half-yearly basis, its profit increased by 120% to Rs 165 crore in H1 FY26 as compared to Rs 75 crore in H1 FY25. Lenskart made a tepid debut on the Indian stock exchanges, listing at Rs 395 per share on the NSE, about 1.7% lower than the issue price of Rs 402. The Gurugram-based company raised Rs 2,150 crore through a fresh issue and Rs 5,028 crore via an offer for sale (OFS), valuing the company at around Rs 70,000 crore ($8 billion). According to exchange data, Lenskart’s IPO was oversubscribed 28.26 times with the retail portion at 7.53X, QIBs (ex-anchors) at 40.35X, Non-Institutional Investors (NIIs) at 18.2X and employee portion subscribed 4.96 times. During the last trading session, its share traded at Rs 411.80, giving the firm a total market capitalization of Rs 71,441 crore ($7.9 billion).

DailyObjects’ revenue spikes 34% to Rs 84 Cr in FY24

EntrackrEntrackr · 1y ago
DailyObjects’ revenue spikes 34% to Rs 84 Cr in FY24
Medial

DailyObjects, a Direct-to-Consumer (D2C) tech accessories and lifestyle brand, achieved a 33.6% growth during the fiscal year ending March 2024. However, the Gurugram-based firm reported a modest loss of Rs 3.9 crore in the same period as compared to marginal profit in FY23. DailyObjects’ revenue from operations grew to Rs 84.4 crore in FY24 from Rs 63.2 crore in FY23, its consolidated financial statement sourced from the Registrar of Companies (RoC) shows. DailyObjects is a direct-to-consumer (D2C) lifestyle accessories brand offering products such as bags, wallets, charging solutions and stationery, among others. The sale of products accounted for 98.8% of the total revenue which increased by 33.6% to Rs 83.38 crore in FY24. The rest of the income came from shipping and delivery charges. For the consumer tech and lifestyle brand, the cost of procurement formed 50% of the total expense. This cost increased by 40% to Rs 42.28 crore in FY24 from Rs 30.26 crore in FY23. Its employee benefits and marketing cum advertising costs grew by 24% and 46.5%, standing at Rs 11.34 crore and Rs 14.33 crore, respectively, in FY24. The firm's spending on shipping, delivery, legal, and other overheads pushed the overall costs up by 33.3% to Rs 84.2 crore in FY24. Note: Excluding the exceptional item cost of Rs 6.14 crore, related to the write-off of previous receivables in the fiscal year ending March 2024, from the calculation of losses and expenses. Increased marketing and employee benefits costs led DailyObjects to post a loss of Rs 3.92 crore for FY24, compared to a marginal profit of Rs 0.06 crore in FY23. Its ROCE and EBITDA margin stood at -43.98% and -4.3%, respectively. On a unit basis, the company spent Re 1 to earn a rupee in FY24. It reported current assets of Rs 20.76 crore as of FY24. According to the startup data intelligence platform TheKredible, the Gurugram-based firm has raised around $14.4 million to date. Its leading investors are Roots Ventures and 360 One.

Fibe crosses Rs 1,200 Cr revenue in FY25; profit spikes 13%

EntrackrEntrackr · 7d ago
Fibe crosses Rs 1,200 Cr revenue in FY25; profit spikes 13%
Medial

Fibe crosses Rs 1,200 Cr revenue in FY25; profit spikes 13% In the fiscal year ending March 2025, the consumer lending firm Fibe reported nearly 50% growth in operating revenue to over Rs 1,200 crore, while profit also rose in double digits. Fibe, formerly EarlySalary, recently raised $35 million in a Series F round led by the International Finance Corporation. The impact of this funding will likely reflect in FY26. In the fiscal year ending March 2025, the consumer lending firm reported nearly 50% growth in operating revenue to over Rs 1,200 crore, while profit also rose in double digits. Fibe’s revenue from operations grew 49% year-on-year to Rs 1,228 crore in FY25 from Rs 824 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). Co-founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe provides personal loans, long-term loans, loans against mutual funds, and fixed deposits across healthcare, education, and solar rooftop installations. It claims to have facilitated more than 9 million loans, with total disbursements exceeding Rs 40,000 crore through over 8,500 lenders. Interest on loans was the largest revenue contributor for Fibe, with over 80% share of its total operating revenue. This income rose 46% in FY25 and crossed the Rs 1,000 crore mark. The company also earned servicing fee income for managing loan collections and administration on behalf of lending partners. It has partnered with several banks and NBFCs, including Northern Arc Capital, InCred Finance, Tata Capital, and many others. Income from guarantee premium, i.e., fees earned for providing default protection to lending partners, also stood at Rs 104 crore for Fibe and grew 83% year-on-year. The remaining revenue came from marketing income, commission income, and other operating sources. Fibe also earned around Rs 41 crore from non-operating sources such as interest income and gains on the sale of current investments, and this took its total income to Rs 1,269 crore in the last fiscal year. For the consumer lending company, finance cost formed the largest cost centre, with over 62% share of the total expenditure, and stood at Rs 691 crore in FY25 for Fibe. This cost rose 85% year-on-year from Rs 373 crore in FY24. Notably, it included Rs 257 crore towards loan write-offs and Rs 207 crore as loss on guarantees invoked. Advertising and promotional expenses, another major cost centre for Fibe, stood at Rs 128 crore in FY25. Employee benefit expenses, which accounted for under 10% of the total cost, rose 34% to Rs 111 crore, including Rs 9.2 crore of ESOP expenses. Commission paid to selling agents, legal & professional, travelling and other miscellaneous overheads took the overall expenses for the firm to Rs 1,112 crore in FY25 from Rs 706 crore in FY24. Higher non-operating income, which rose from Rs 18 crore to Rs 41 crore, helped the Pune-based firm post a 13% increase in profit to Rs 114 crore. Fibe spent Rs 0.91 to earn one rupee of operating revenue on a unit basis. As of March 2025, it had total current assets of Rs 3,135 crore, which includes cash and bank balance of Rs 259 crore. Fibe has raised over $265 million to date, including a $90 million Series E round led by TR Capital, Trifecta Capital, and Amara Partners. In August last year, Fibe also raised Rs 250 crore in debt for its lending arm, EarlySalary, from a group of investors including AK Capital Finance.

TBO Tek posts Rs 446 Cr revenue and Rs 59 Cr PAT in Q4 FY25

EntrackrEntrackr · 9m ago
TBO Tek posts Rs 446 Cr revenue and Rs 59 Cr PAT in Q4 FY25
Medial

Business-focused travel distribution platform Travel Boutique Online (TBO) has recorded a 21% year-on-year increase in its revenue while its profits grew 28.3% during the fourth quarter of the last fiscal year (FY25). TBO’s operating revenue increased to Rs 446 crore in Q4 FY25 from Rs 369 crore in Q3 FY24, its consolidated financial statements sourced from the National Stock Exchange (NSE) show. Income from the booking of hotels and packages accounted for 80% of TBO’s revenue, which increased to Rs 357 crore in Q4 FY25. Meanwhile, income from air ticketing and other allied services brought Rs 79 crore and Rs 10 crore to the firm’s coffers. Hotels and packages, as the top revenue source, made service fees the largest cost center, accounting for 33.75% of total expenditure or Rs 135 crore in Q4 FY25. Employee benefits were Rs 99 crore in the same quarter. Overall, total costs rose to Rs 400 crore in Q4 FY25 from Rs 325 crore in Q4 FY24. The decent surge in scale and controlled expenditure led TBO to post a 28.3% YOY increase in its profits after tax to Rs 59 crore in Q4 FY25 from Rs 46 crore in Q4 FY24. However, for the full fiscal year, it posted a 15% YoY increase in PAT to Rs 230 crore in the previous fiscal (FY25). At the end of today’s (Thursday, May 22) trading session, TBO Tek saw around a 3% decrease in its stock, which stood at Rs 1,197 with a total market capitalization of Rs 13,005 crore or ($1.53 billion).

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