Livspace’s FY25 Loss Declines 43% To INR 243 Cr

Home decor startup Livspace managed to trim its net loss by 43%  in the fiscal year FY25 to INR 242.6 (SGD 38.42 Mn) from INR 461.7 Cr (SGD 67.65 Mn) loss it incurred in the previous fiscal year.

As per the startup’s consolidated statement of comprehensive income for the financial year, the improvement in its bottom line came due to a robust uptick in its top line and improvement in margins. In the fiscal, Livspace’s Singapore entity reported a revenue from continuing operations of INR 1459.3 Cr (SGD 231.01 Mn), marking a near 23% uptick from INR 1,216.2 Cr (SGD 192.49 Mn) reported in the previous fiscal.  

The startup said that its adjusted EBITDA loss for the fiscal under review narrowed by 47% to INR 131 Cr in the fiscal year from INR 246 Cr EBITDA loss incurred in the prior fiscal. In a statement, Livspace said that its EBITDA margin improved sharply from -20.8% in FY24 to -9% in FY25, while gross margin rose 26% YoY to INR 752 Cr from INR 598.5 Cr in FY24. 

The startup noted that results reflect stronger traction in premium and mass-premium residential segments, higher quality of revenue, and ongoing discipline on costs and unit economics. 

The improvement in the startup’s financial health comes in the run-up to it filing for an initial public offering. In 2024, CEO Ramakant Sharma said that Livspace was looking to launch its IPO by late 2025 or early 2026. As of now, the startup is expecting to reverse flip to India by 2025-end.

While it is yet to file its IPO papers, Livspace added that its operational losses, measured by EBITDA, are narrowing and are expected to reach around 4–5% of revenue, while losses on its confirmed orders are even lower at 2–3%. 

This trend, it said, indicates that the business is steadily improving its profitability at the operational level, and with such a trajectory, there is a clear path toward achieving positive EBITDA in the near future

Livspace also closed the year with INR 708 Cr in cash reserves, especially after its parent infused around INR 789 Cr this year so far into the Indian subsidiary.

Founded in 2014 by Sharma and Anuj Srivastava, Livspace is an omnichannel home interiors and renovation platform connecting homeowners with professional interior designers, contractors, and vendors for design, renovation and furnishing solutions.

The startup operates a multi-faceted business model, combining marketplace, ecommerce and service-based revenue streams. Its income sources include service fees for project execution and management (covering design consultation, project planning and more), commissions from sales of furniture and décor items via its aggregator platform, and revenue from private-label and value-added products.

Livspace has raised over $450 Mn (around INR 3989.8 Cr) in capital to date, and it counts KKR, Ingka Group Investments (IKEA’s parent), TPG Growth, Goldman Sachs, Bessemer Venture Partners and Jungle Ventures, among its marquee investors. It competes with startups such as HomeLane and DesignCafe.

As per its website, Livspace has designed and delivered over 1 Lakh homes with the help of 3,500+ expert designers across 100+ cities in three countries

In FY25, Livspace deepened its presence across multiple business verticals and geographies. Livspace said that it diversified its offerings into adjacent home categories through its Livspace Home vertical, which includes soft furnishings, furniture and homeware. It has also launched a private-label line of kitchen appliances, such as hobs and chimneys.

On the retail front, Livspace operates over 150 stores across more than 90 cities in India, including both company-owned (COCO) and franchise-operated (FOFO) formats. The startup now plans to scale its network to over 200 stores across 100+ cities by the end of the current fiscal year.

Editor’s Note: The story has been edited to include loss and revenue numbers from Livspace’s (Livspace Pte Limited and its subsidiaries) Annual Financial Statements for FY25.