Livspace posts Rs 1,460 Cr revenue in FY25; losses shrink 42%

Omnichannel home interiors and renovation platform Livspace sustained its growth momentum in FY25, with revenue climbing over 23% year-over-year. During the same period, the company managed to cut its losses by 42%.

According to its group’s consolidated financials filed in Singapore, Livspace’s operating revenue rose to Rs 1,460 crore in FY25 from Rs 1,185 crore in FY24. Including other income of Rs 52 crore, its total revenue stood at Rs 1,512 crore for the fiscal year.

Livspace enables homeowners to explore and customize pre-designed rooms, kitchens, and storage solutions through its platform. The interior projects segment remained the key revenue contributor, forming 93.7% of the total income, which surged 23% to Rs 1,364 crore in FY25. The rest came from the sale of products and services.

India remained Livspace’s largest market, contributing 85% of its operating revenue, while Singapore accounted for the remaining 15%. The company currently operates over 150 stores (COCO and FOFO models) across more than 90 cities, and plans to expand its footprint to over 200 stores across 100+ cities by the end of FY26.

On the expense side, the cost of sales, including project materials and consumables, made up 40% of total expenditure, which increased 20.5% year-on-year to Rs 706 crore. Employee benefits stood at Rs 590 crore, including Rs 106 crore as ESOP expenses. Marketing costs dropped 25% to Rs 98 crore, while brokerage, commission, legal, and other overheads took the total expenditure to Rs 1,754 crore in FY25.

The combination of steady scale and cost discipline helped Livspace shrink its losses to Rs 242 crore in FY25, down from Rs 416 crore in FY24. The company’s EBITDA margin and ROCE improved to -13.4% and -55.3%, respectively. On a unit level, Livspace spent Rs 1.2 to earn every rupee of operating revenue.

The stars are certainly aligned for LivSpace to do well; the question is, does the firm believe? The economy is holding up better than expected, the nuclearisation of Indian families continues apace, and of course, the GST cuts will probably free up funds to spend more on house interiors. The challenge for LivSpace is to ensure its offerings make the cut for enough customers. It has the experience, the team, and, one hopes, the motivation to go out and make it happen, despite the intense competition that is out there.  With players like the now-listed Urban Company elbowing their way into the interiors market as well, Livspace has its work cut out, and needs a distinct offering to buff up its credentials now. Doing it all at a low enough cost that doesn’t hurt the march towards profitability will be key.

*Currency converted from Indian rupees to Singapore dollars:

FY25: SGD 1 = 63 rupees & FY24: SGD 1 = 61.5 rupees