Your-Space’s FY24 revenue, expenses increase by about 20%, losses widen

 Delhi-headquartered startup Your-Space, which provides accommodation to college and university students, on Monday posted a 21% rise in its operating revenue in FY24 to Rs 142.69 crore from Rs 117.16 crore a year ago. 

During the same period, its loss widened to Rs 30.69 crore from Rs 25.53 crore, according to regulatory filings made with the Registrar of Companies. Its expenses also increased by 20% to Rs 165.3 crore mainly driven by cost of materials, finance costs, and other expenses. 

The company, founded by Shubha and Nidhi Kumra in 2016, helps students find safe and quality housing around college campuses. It counts Stanza Living, University Living, and Housr among its peers. 

It had raised $10 million in Series-A funding in January 2022 and was valued at $39.9 at post money valuation, according to Tracxn. 

The round was a combination of pure equity and convertible debentures, and was led by Shantanu Rastogi of General Atlantic, Ajay Gupta’s (Capital Foods) family office AJAX Capital and Holy Basil Consultancy. Manish Choksi’s (Vice Chairman at Asian Paints) family office, Sunidhi Group’s family office, Sanjaya Gupta (former MD & CEO of PNBHFL) also participated in the round.