Zolo

Co-living company Zolo stays has achieved remarkable growth, increasing its revenue fivefold from ₹43 crore in FY22 to over ₹200 crore in FY24. Despite this significant expansion, the Nexus Ventures-backed firm has managed to keep its losses in check. According to consolidated financial statements filed with the Registrar of Companies (RoC), Zolostays’ revenue from operations doubled to ₹204.4 crore in FY24 from ₹95.5 crore in FY23. Revenue Breakdown Zolostays specializes in providing co-living spaces for students, professionals, and organizations. Revenue from residential accommodations and facilities, including service fees and accommodation charges, made up 93% of its total operating revenue. This segment witnessed a 3.4x growth, reaching ₹191 crore in FY24 compared to ₹55 crore in FY23. However, revenue from managing residential facilities for colleges and universities, along with food subscriptions and other amenities, declined by 72%, dropping to ₹10.4 crore in FY24. Interest income contributed an additional ₹4.6 crore, bringing the total income for FY24 to ₹209 crore. Cost Analysis Property management and operational expenses were the largest cost drivers, comprising 52% of total expenses. These costs, which include food, rent, electricity, housekeeping, and consumables, rose 2.3x to ₹139 crore in FY24 from ₹60.5 crore in FY23. Employee benefit expenses also saw an increase of 16%, reaching ₹83 crore in FY24. Legal, advertising, communication, commission, and other overhead costs further pushed total expenses up by 58%, amounting to ₹266 crore in FY24 compared to ₹168 crore in FY23. Financial Performance Despite higher expenses, Zolostays reduced its losses by 17.4%, reporting a net loss of ₹57 crore in FY24 compared to ₹69 crore in FY23. Key financial metrics for FY24 include: ROCE: -89.96% EBITDA Margin: -16.75% Expense-to-Revenue Ratio: ₹1.30 The Bengaluru-based company also reported current assets of ₹76 crore, including ₹34 crore in cash and bank balances. Funding and Stakeholders To date, Zolostays has raised a total of $118 million in funding. Nexus Ventures is the largest external stakeholder with a 34% share, followed by Investcorp and Mirae Asset, according to startup data intelligence platform TheKredible. Team Zolo👇 Dr. Nikhil Sikri | Siddharth Kumar (SK) | Sneha Choudhry | Yash Khandelwal |Prince Singh | Chanchal Gupta | Sadhana Attawar

Full episode out now! 🍿 Watch the latest #SuperleapPodcast episode on 'India's Modern Living & Work Spaces' feat. Amit Ramani of Awfis Space Solutions Limited, Srikanth Iyer of HomeLane, and Dr. Nikhil Sikri of Zolo 🔥 🎬 Watch the full episode: https://lnkd.in/gnT6feK8 #Zolo #Awfis #HomeLane #Superleap

Celebrating Dedication and Milestones! 🌟 This month, we are thrilled to honor our incredible team members who are celebrating their 5th, 6th, and 7th work anniversaries with Zolo! 🥳 Your journey with us has been nothing short of inspiring. From your unwavering commitment to your relentless drive for excellence, you’ve been instrumental in shaping the vibrant culture we cherish today. 💼✨ Thank you for your loyalty, hard work, and the passion you bring to the table every single day. Here's to celebrating the milestones you’ve achieved and to many more years of success together! 💙 Let’s take a moment to applaud these amazing individuals for their dedication and contributions. Drop a comment or a ❤️ to show your appreciation! Sastha babu N Goutham Unnikrishnan Shubham Sharma Akash Ingole Raghavendra Ramoji Pranay kumar Jaya Bharath Reddy #ZoloTeam #WorkAnniversary #CelebratingExcellence #Gratitude #MilestoneMoments

This month, we celebrate the dedication, resilience, and countless contributions of our Zolo family members reaching their 5th, 6th, and 8th work anniversaries! 🌟 Your commitment and passion have shaped Zolo into the thriving community it is today. 🙌 Thank you for inspiring us every day and for being an integral part of our journey. Here’s to many more years of growth, success, and shared achievements together! 💙 #zolo #zolostays #workanniversary #workispassion #colivingspaces

We are thrilled and honored to announce that we have been awarded the Best AI-Powered Chatbot to Enhance Customer Experience (Hospitality) at Quantic India’s 4th Edition CX Excellence Awards 2024! 🎉 This recognition is a testament to our dedication to revolutionizing customer experience through innovative technology. We are incredibly proud of our team for their relentless effort and commitment to excellence. A heartfelt thank you to Quantic Business Media Pvt. Ltd for this prestigious award and to our amazing customers for their unwavering support. Here’s to many more innovations and continued success! Dr. Nikhil Sikri Amit Dixit #CXExcellenceAwards #CustomerExperience #AIChatbot #ZoloStays #Innovation #Hospitality #Gratitude

Congratulations, Mishal Kumar on reaching an incredible milestone! 🎉 We proudly recognize your remarkable 8-year journey with us. Your dedication, hard work, and unwavering commitment have been instrumental in our success and growth. Here's to many more years of achievements and contributions together! 🌟👏 #WorkAnniversary #ZoloProud #Dedication #Success #TeamZolo

Celebrating our committed and dedicated employees at Zolo! 🎉 A heartfelt congratulations to Nataraj R, Archana Verma and Satish Maragali on reaching an incredible milestone of 5 and 6 years with Zolo respectively! 🌟 Your hard work, dedication, and passion have not only contributed to our growth but have also inspired us all. Thank you for your unwavering commitment and for being a vital part of our journey. 🙌 Here's to many more years of success and innovation together! 👏 #WorkAnniversary #TeamZolo #Congratulations #6Years #Dedication #Commitment #ZoloFamily

Congratulations to Our Dedicated Team Members! 🎉 We are thrilled to celebrate a significant milestone with three of our outstanding colleagues who have completed #5remarkable years with Zolo. Swathi M R🌟 Akhileshwar S. Singh 🌟 Gayathri R 🌟 Your dedication, hard work, and unwavering commitment have been instrumental in driving our success. Thank you for being an integral part of the Zolo family. Here's to many more years of achievements and growth together! 👏 #WorkAnniversary #TeamZolo #Congratulations #5Years #Milestone #Dedication #Commitment #ZoloFamily

Congratulations to our incredible team members who have reached significant milestones with Zolo! 🎉👏 Samikshya Das: 7 amazing years Sijo George: 7 incredible years Paulson K P: 6 wonderful years Shankar G M: 6 fantastic years Traya Guha Roy: 5 outstanding years Thejashree S: 5 brilliant years Vinod Rohidas Surwase: 5 exceptional years Kandimalla Anil Kumar: 5 remarkable years Anirudh Rao K: 5 splendid years Your dedication, hard work, and commitment have been instrumental to our success. Thank you for being an essential part of the Zolo family. Here's to many more years of growth and achievements together! 🌟 #TeamZolo #MilestoneAchieved #AnniversaryCelebration #DedicationAndSuccess #Zoloemployees #Zolo #WorkAnniversary

Dear Radhakrishnan A. on behalf of the entire Zolo family, we want to extend our warmest congratulations as you celebrate your 5th work anniversary with us. Your dedication, teamwork, and positive attitude have been an inspiration to us all, and we're truly grateful for the opportunity to work alongside you. Here's to many more years of camaraderie, success, and making a difference together! #TeamSpirit #Workanniversary #Zolo #5years