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MyGate to double revenue in FY25, eyes 30-50% growth in next few years
Livemint
·
6m ago
Medial
MyGate, a community management leader, is focusing on expanding in societies and increasing advertising revenue for profitable growth over the next few years. Achieving profitability and nearly doubling revenue this fiscal year, the company aims for 30-50% annual growth by acquiring new societies and homes. Currently present in four million homes, MyGate plans to scale through advertising and new ventures, like MyGate Locks, while cautiously managing funding and avoiding distractions.
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DBS Bank India plans to double small business book in 3 years
Livemint
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1y ago
Medial
DBS Bank India aims to double its exposure in the small and medium enterprise (SME) sector over the next three years. With SMEs contributing almost 30% to India's GDP, the bank sees significant growth potential. Its SME business revenue increased to 20% of its institutional banking revenue in Q1 2024, from 19% in Q1 2023. DBS Bank India believes that the current growth rate of its SME segment, around 30%, can continue, allowing for a potential doubling of its SME book in the next three years.
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Beauty, wellbeing, mini meal: HUL eyes high-growth segments to boost demand | Company Business News
Livemint
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8m ago
Medial
Consumer goods company Hindustan Unilever Ltd (HUL) has revealed a new strategy focused on capitalising on increasing household income and consumer preference for premium products. HUL has identified six high-growth segments, including premium face care and premium hair care, that contributed ₹7,000 crore in revenue during FY24. The company expects these markets to double or quadruple over the next ten years, driven by rising GDP and disproportionate FMCG growth. HUL aims to achieve double-digit earnings per share growth through top-line performance and premiumisation. It plans to prioritise its core portfolio, future core brands, and market makers to tap into future trends.
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Panasonic aims to double its solar business, boost exports
Livemint
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1y ago
Medial
Panasonic Electric Works India aims to boost its solar business contribution from 6% to double digits, specifically targeting 10-12% from solar in the next three years. They also plan to increase their share of exports from 25% to 30% in the current financial year and invest ₹300 crore to expand their Sri City manufacturing unit. The company aims to triple its topline growth in seven years, targeting a significant increase in revenue.
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Exclusive: Practo eyes global markets after 6 profitable quarters; pilots underway in US
Entrackr
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4d ago
Medial
Exclusive: Practo eyes global markets after 6 profitable quarters; pilots underway in US IPO-bound digital health platform Practo has posted its first-ever full-year operating EBITDA in FY25. Entrackr has exclusively learned that the company has also kicked off a pilot in the US, with 50–60 paying customers already signed up. The Bengaluru-based company reported an operating EBITDA of Rs 15 crore in FY25, compared to an EBITDA loss of Rs 17 crore in FY24, according to its latest annual letter accessed by Entrackr. During FY25, Practo’s revenue from operations stood at Rs 234 crore, while its gross merchandise value (GMV) remained steady at Rs 3,500 crore. It also achieved positive cash flows, signaling strong capital discipline. Practo showed steady recovery and cost control in FY24, while FY25 demonstrated its ability to scale sustainably. The company claims to have served over 50 million patients across more than 640 cities, supported by a network of 5 lakh doctors. This tech-led efficiency is rooted in Practo’s core ‘Care Navigation’ business, where gross margins grew at a 30% CAGR over the past three years. Its overall contribution margin rose from 40% in FY24 to 46% in FY25, reflecting a sharper focus on high-margin services and improved operational efficiency. As a result, the company turned around from a Rs 162 crore loss in FY22 to a Rs 15 crore profit in FY25, marking a 109% improvement over three years, according to the figures mentioned in the letter. A key focus area driving this momentum is the company’s investment in AI across its product stack. Practo is using artificial intelligence to improve health outcomes, helping patients navigate care more efficiently and enabling smarter workflows and insights for doctors. The firm said it leverages 40 million structured data points to power these AI-led insights. Reinforcing its focus on quality, Practo became the first Indian digital health firm to publish Patient-Reported Outcome Metrics (PROMs). These metrics showed that 78% of telemedicine users and 80% of physical consultation patients reported recovery within three weeks. These figures, based on self-reported outcomes, include patients who did not follow prescribed treatment plans. Building on this outcomes-driven model, Practo deepened its global presence by launching its consumer-facing platform in the UAE in May 2025. Within weeks, the platform onboarded 50,000 monthly active users and hit a Rs 100 crore GMV annual run rate, as per the letter. The company claims that it is on track to reach 10% annual user penetration in Dubai, signaling strong demand for integrated healthcare discovery tools backed by insurance data and cross-border access between Indian and UAE patients and providers. As part of its broader global expansion strategy, Practo aims to double its international revenue over the next few years, while sustaining profitability and scaling its overall impact.
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L’Oréal India seeks to amp up its online play, aims to become €1 bn business
Livemint
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1y ago
Medial
L'Oréal India aims to double its business in the next 3-4 years, reaching a target of Euro 1 billion. The company believes that despite the slowdown in the FMCG industry, they are shielded because they focus on the top-end segment in urban India. E-commerce is a major growth driver for L'Oréal, accounting for more than one fifth of its business in terms of value. The company expects the number of Indian consumers buying beauty products online to increase from 50 million to 150 million in the next 3-4 years. L'Oréal estimates that 50% of its growth in the next 4-5 years will come from e-commerce.
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Bengaluru-based MyGate announces ESOP buyback for over 50 employees
IndianStartupNews
·
1y ago
Medial
MyGate, a Bengaluru-based community management app, has announced an ESOP buyback program for over 50 employees, allowing them to cash out 20% of their vested shares. The company reported a 77.3% growth in operating revenue to Rs 71.10 crore in FY23, with subscription and advertising revenue contributing significantly. MyGate achieved cash breakeven in November 2023. The startup has received funding from investors like Urban Company, Acko, Tiger Global Management, Prime Venture Partners, Tencent, and JSCapital. MyGate aims to provide seamless management of gated communities through its mobile application, offering features like visitor entry authorization and society accounting management.
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Logistics startup Porter eyes more small cities for growth
Livemint
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9m ago
Medial
Bengaluru-based logistics startup Porter plans to double its presence in India to nearly 40 cities over the next 3-4 years. The company offers a logistics platform for last-mile delivery operations to businesses and has seen significant growth, with revenue increasing by 56% to over INR 2,700 crore in FY24. Porter is also expanding internationally and entered the Dubai market in 2020. Additionally, the company has launched new initiatives such as parcel delivery and home shifting services. Porter has raised $150 million in funding and became a unicorn earlier this year.
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EQT-controlled Indium Software plans tuck-in acquisitions to sustain growth
VCCircle
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1y ago
Medial
Indium Software, the IT services company under EQT Private Capital Asia, plans to achieve high double-digit growth through strategic acquisitions. The company aims to sustain this growth rate in their topline over the next few years. Indium Software, which recently became part of Hong Kong-based EQT's portfolio, intends to pursue tuck-in acquisitions as part of its expansion strategy.
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Reliance Retail aims to double business in 4 yrs, enters luxury jewellery market | Mint
Livemint
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11m ago
Medial
Reliance Retail, India's largest retailer, aims to double its sales over the next few years by expanding into verticals such as grocery and lifestyle, according to Isha Ambani, the executive director of Reliance Retail Ventures. The company also plans to enter the luxury jewellery market, potentially competing with top global brands. Reliance Retail saw strong revenue growth in FY24, adding 1,840 stores and achieving a valuation of $100 billion. The company's growth is driven by its focus on smaller towns and the development of premium formats in larger cities.
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Grapevine: Blackstone to double Indian warehouses; CDPQ eyes Ashoka's road projects
VCCircle
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1y ago
Medial
Blackstone Inc. plans to double its Indian warehouse holdings, aiming for at least 100 million square feet of space within the next few years. The firm, with a $20 billion real estate portfolio in India, is seeking to raise money through private funds to finance this expansion. Meanwhile, Caisse de dépôt et placement du Québec (CDPQ) is reportedly considering investing in Indian road projects developed by Ashoka Buildcon Ltd. The Canadian pension fund manager is said to be in advanced talks to acquire a minority stake in Ashoka's road projects.
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