![Infra.Market Crosses INR 1,000 Cr Sales Mark, Profit Soars 3.5X In FY21](https://inc42.com/cdn-cgi/image/quality=75/https://asset.inc42.com/2021/07/infra-f-min.png)
Infra.Market has posted a revenue of operations of INR 1,062.3 Cr in FY21, a massive jump from INR 348.7 Cr in FY20
Infra.Market’s expenses shot to INR 1,029 in FY21 from INR 339 Cr in FY20
The Tiger Global-backed startup posted a total profit of INR 30.5 Cr in FY21 from INR 8.5 Cr in FY20
Construction-focused marketplace Infra.Market’s revenue from operations has crossed INR 1,000 Cr for the first time in FY21. The Tiger Global-backed startup has posted a revenue of operations of INR 1,062.3 Cr in the financial year ending on March 31, 2021.
Between April 1, 2019 and March 31, 2020 i.e. in FY20, the startup has clocked a total revenue of operations worth INR 348.7 Cr. This means, the startup’s revenue from operations has increased by 3X or over 204%.
Infra.Market revenue from sales of product was at INR 1,049.13 Cr and revenue from sales of services stood at INR 13.23 Cr in FY21, a significant jump from what it had earned in FY20.
IN FY20, Infra.Market earned INR 347.5 Cr from revenue from sales of products and INR 1.16 Cr from sales of services.
The startup earned INR 5.3 Cr from its other income in FY21. The Thane-based startup’s total revenue was pegged at INR 1,067.7 Cr in FY21, a 205% increase from INR 350 Cr it saw in FY20.
As the startup’s income rose, so did its expenses. For the FY21, Infra.Market has spent a whopping INR 1,029 Cr. This is almost a 200% increase from INR 339 Cr it spent in FY20.
The construction based B2B marketplace spent the most in purchasing stock-in-trade. For the same, it has spent INR 938.3 Cr in FY21, a 202% rise from INR 310.8 Cr it shelled in FY20.
The startup has spent INR 29.7 Cr in FY21 for its employee benefits expenses which comprises salaries, gratuity, PF contribution, and other employee welfare benefits. In FY20, for the same the startup has spent INR 17.3 Cr.
Under other expenses, which comprises rent, insurance, electricity expenses, and other expenses, the startup spent INR 39.7 Cr in FY21, a 313.5% rise from INR 9.68 Cr it posted in FY20.
The startup further increased its profit by 3.5X in FY21. In FY21, it posted a profit after tax of INR 30.5 Cr in FY21, a 259% jump from INR 8.5 Cr it saw in FY20.
Founded in 2016 by Aaditya Sharda and Souvik Sengupta, Infra.Market is a B2B online procurement marketplace for real estate and construction material that leverages technology to offer fair pricing and a smoother procurement experience for its customers.
It was the third startup last year to enter the coveted unicorn club after bagging $100 Mn in its Series C round from Tiger Global, Accel Partners, Nexus Partners , among others. The startup later raised another $125 Mn in its Series D round, almost doubling its valuation to $2.5 Bn.
Since then Inc42 has exclusively tracked Infra.Market and has almost reported a total of $83 Mn of debt funding from several investors including IPO-bound Navi Finserv, Pankaj Chaddah, Pooja Khanna, Vidit Aatrey, Avendus Capital, among others.
In the B2B marketplace Infra.Market doesn’t compete directly with any major startup player in the country but indirectly logs its head with another B2B manufacturing marketplace Zetwerk.
To give a comparison, Zetwerk posted a total revenue from sales worth INR 828.6 Cr, a significant jump from INR 321.7 Cr in FY20. Zetwerk further managed to narrow its loss by 16X from INR 661.1 Cr to INR 41.2 Cr in FY20.
Another B2B marketplace Moglix which also entered the unicorn club is gradually inching towards INR 1,000 Cr revenue from sales.