Student housing provider Your-Space reported significant revenue growth, crossing the Rs 140 crore mark in the fiscal year ending March 2024. However, the Delhi-based startup also experienced a slight uptick in its losses during the same period.
According to its consolidated financial statements filed with the RoC, Your-Space’s revenue from operations rose by 21.8%, reaching Rs 142.7 crore in FY24 compared to Rs 117.2 crore in FY23. The company specializes in offering affordable accommodation solutions such as PGs, hostels, and co-living spaces for students. It currently manages over 60 smart spaces equipped with advanced security features, including facial recognition, biometrics, and digital locking systems.
Residential services contributed 99.5% of the total operating revenue, with earnings from this segment growing by 30% to Rs 142.96 crore in FY24, up from Rs 109 crore in the previous fiscal year. The remaining revenue came from supplementary services such as food, electricity, and other amenities.
Rental expenses formed a significant portion of Your-Space’s overall costs, accounting for 52.6% of the total. These expenses surged by 34%, amounting to Rs 92.2 crore in FY24, compared to Rs 68.9 crore in FY23. Employee benefits, on the other hand, reached Rs 21.1 crore during the same period.
Additional operational expenses, including facility maintenance, advertising, and transportation, brought the total expenditure to Rs 175.3 crore, reflecting a 20% year-on-year increase.