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StayVista reports Rs 140 Cr revenue in FY24, cuts losses by one-third
Category: Funding News, Posted on: 30/03/2025 , Posted By: Ishika Agarwal
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India's largest luxury villa rental company StayVista was founded by Amit Damani, Ankita Sheth, and Pranav Maheshwari, who aim to provide curated stays for large and small groups, addressing a gap in the travel industry. StayVista connects property owners with travelers seeking vacation rental accommodations.

The platform enables property owners to list their rentals, while facilitating bookings and online payments. Revenue from these services was the company’s sole source of income. Luxury vacation home rental platform StayVista continued its steady growth in the last fiscal year, with revenue increasing by 23%. At the same time, the company managed to reduce its losses by over one-third in FY24. StayVista’s revenue from operations increased to Rs 140 crore in FY24 from Rs 114 crore in FY23, according to its financial statement sourced from the Registrar of Companies (RoC). With minor contribution from other income, the company posted total revenue of Rs 143.48 crore in the last fiscal year. On the expense side, the cost of materials—the company’s largest expense category—increased by 17.7% to Rs 109.5 crore in FY24. Employee benefit expenses also rose sharply, up 33% to Rs 28 crore, while legal and other operational expenses remained relatively stable at Rs 3.5 crore and Rs 11 crore, respectively.

Overall, the company’s total expenses stood at Rs 152 crore for the year, marking an 18.8% increase from Rs 128 crore in FY23. Besides managing decent growth, StayVista reduced its losses by 33.3% to Rs 8 crore in FY24 from Rs 12 crore in the previous fiscal year. Its ROCE and EBITDA margin stood at -28.81% and -5.31%, respectively. On a unit level, StayVista spent Rs 1.09 to earn a rupee in FY24. As of March 2024, the Mumbai-based firm reported current assets worth Rs 50 crore which includes Rs 39 crore in cash and bank balances. According to startup data intelligence platform, StayVista has raised a total of $7.5 million of funding till date, having DSG Consumer Partners as its lead investor who owns 17% of the company. Its co-founders Amit Damani, Ankita Sheth and Pranav Maheshwari together own 32.4% of the company. According to media reports, StayVista is planning to go public through an IPO by 2028, with a goal of raising Rs 600 crore (around $72 million) to further expand its network across India.

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