Your-Space is a student housing startup that provides hotels and PGs for students. The platform managing co-living spaces announced a 21.8 percent increase in its operational revenue to Rs 142.7 crore in FY24. The startup provides accommodations for students at affordable prices.
These residential services are the company’s primary source of revenue. The startup offers amenities including attached baths, biometric access, a reading room, a gym, and salon facilities.
Entrackr mentioned in its report that the firm also earns income through the sale of food, electricity, and other allied services. The company has secured over 16.3 million USD across multiple funding rounds since its inception, including $10.1 million raised from Ajax Capital and other investors during the series A funding round. The data intelligence platform, tracxn mentioned that the company’s post-money valuation is around 37.9 million USD.
The company claims to operate 60 smart spaces with tech-based safety features like facial recognition, digital locks, and biometrics. The residential services increased by 30 percent to Rs 142.96 crore in FY24 accounting for around 99.5 percent of the total operating revenue.
The Delhi startup provides students with career counseling, CCTV Monitoring, college transportation, and more. The online platform uses advanced technologies to offer accommodation with a location filter option. This student housing startup provides users with safe accommodations and other amenities. The rental costs for accommodation account for 52.6 percent of the total expenses and it increased by 34 percent to Rs 92.2 crore in this financial year. The total expenditure of the firm increased by 20.2 percent to Rs 175.3 crore in FY24. Your-space offers an online platform to connect and find accommodation suitable for you according to your requirements.
The company aims to improve its platform and offer seamless customer experience, positioning it well in the global co-living space market. The startup posted a 20.2 percent increase in its losses to Rs 30.69 Crore this financial year. The firm aims to minimize its losses through cost-cutting measures. Your-Space reported its employee benefit of Rs 21.2 crore in FY24.
The advertising and maintenance charges also increased for this fiscal year. The EBITDA loss was around -14.57 percent in FY24 while the ROCE was around -809.54 percent. Your-Space faces competition from other student housing companies such as Stanza Living, Housr, and Zolo.
Conclusion :
The student housing startup Your-Space announced a 21.8 percent increase in its total revenue to Rs 142.7 crore in FY24. This co-living space offering platform provides accommodations to students with several amenities like gym and salon facilities.
These accommodation services are the firm’s major sources of revenue. The loss also increased by 20.2 percent to Rs 30.69 crore in FY24. The total expenditure of the firm increased by 20.2 percent to Rs 175.3 crore in the same duration. The startup failed to control its losses for this fiscal year. The startup has secured over 16.3 million USD across multiple funding rounds to date. Your-space allows users to search for accommodations through its online platform.
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