About INR 1,000 Cr was crossed by Infra.Market in its Sales Mark, In FY21 profit soar by 3.5X
- ByStartupStory | March 9, 2022
Infra.Market, a construction-focused marketplace for the first time in FY21, crossed about INR 1,000 Cr of its revenue from operations. In the financial year ending on March 31, 2021, a revenue of operations of INR 1,062.3 Cr has been posted by the Tiger Global-backed startup.
During FY20, between April 1, 2019 and March 31, 2020, a total revenue of operations worth INR 348.7 Cr has been clocked by the startup. This means an increase by 3X or over 204% has been noticed in the startup’s revenue from operations. Infra.Market revenue from sales of product was about INR 1,049.13 Cr and in FY21 the revenue from sales of services stood at INR 13.23 Cr, it is a significant jump from what it had earned in FY20. IN FY20, revenue earned from sales of products by Infra.Market is about INR 347.5 Cr and from sales of services it earned about INR 1.16 Cr.
The startup from its other income in FY21 earned INR 5.3 Cr. The Thane-based startup’s total revenue in FY21 was pegged at INR 1,067.7 Cr, in FY20 it saw a 205% increase from INR 350 Cr. As the startup’s income rose, the rise in the expenses also rose. For FY21, a whopping INR 1,029 Cr was spent by Infra.Market. This is almost a 200% increase that was spent in FY20 of about INR 339 Cr.
The startup spent INR 39.7 Cr in FY21 in other expenses, which comprises rent, insurance, electricity expenses, and other expenses, in FY20 it posted a 313.5% rise from INR 9.68 Cr. In FY21, the startup further increased its profit by 3.5X. In FY21, after tax of INR 30.5 Cr it posted a profit, in FY20, it saw a 259% jump from INR 8.5 Cr.
Infra.Market, founded in 2016 by Aaditya Sharda and Souvik Sengupta. It is a B2B online procurement marketplace that leverages technology to offer fair pricing and a smoother procurement experience for its customers for real estate and construction material. After bagging $100 Mn in its Series C round from Tiger Global, Accel Partners, Nexus Partners, among others it was the third startup last year to enter the coveted unicorn club. The startup almost doubled its valuation to $2.5 Bn, after it raised another $125 Mn in its Series D round.
Follow Startup Story
Related Posts
