Banglore: HomeLane, India’s leading tech-based home interiors brand, recorded a 16 per cent revenue growth in FY21 despite challenges posed by the pandemic. In fact, the company also managed to pare its business losses significantly from a -36 per cent EBITDA margin in FY20 to a -21 per cent margin for the year ending 31st March 2021.
This was the result of a strong bounce-back in business between Q3 and Q4 and can be attributed to fundamental shifts in consumer behavior such as a rise in time spent at home, increased need for safe delivery of interiors and faster adoption of digital technologies.
FY21 Business Performance and Outlook Highlights
- Exited FY21 at a Rs. 820 Crore Order Book ARR
- Grew 16% over FY21, recording revenue of 268 Crore, despite a ravaging pandemic
- Expanded presence from 10 cities in FY20 to 16 cities in FY21
- The company expects to generate revenues of Rs. 423 Crore and hit EBITDA profitability in FY22
Owing to the strong finish in FY21, the company has proceeded with appraisals and increments effective 1st April 2021, for all eligible employees even amid the second wave of the pandemic. The Company was much better prepared for the impact of the pandemic this time around and tied up with the likes of Apollo, Manipal and Awfis to get all employees and partners vaccinated, safeguard the entire ecosystem and plan for a reopening of on-ground activities in compliance with state regulations.
So far, 60 per cent of employees have received the first dose of the vaccination and the company is working on arranging more vaccination drives in the coming weeks to provide vaccine access to the entire workforce. In addition to sponsoring vaccines, HomeLane has also provided employees with oxygen concentrators, unlimited leaves for recovery for those infected, advance payment of salaries to cover treatment costs, medical insurance coverage as well as a robust payout policy in the unfortunate event of an employee’s demise.
Established in 2014, HomeLane has grown into India’s tech-enabled home interiors brand, providing end-to-end interior services in a personalised, professional way. Through technological interventions, tech-empowered expert designers and project managers, the company has created a community of over 20,000 happy customers across the country, in the last six years.
The company undertakes strict safety and sanitation protocols to ensure a hygienic, safe and responsible design and execution process allowing its customers a safe interiors experience. HomeLane currently services 16 cities across the country through 27 Experience Centres.