StayVista: A Growing Luxury Vacation Home Rental Platform

StayVista, a luxury vacation home rental platform, has experienced significant growth in the past fiscal year, achieving a revenue increase of 23%. During FY24, the company successfully reduced its losses by over one-third.

In FY24, StayVista’s revenue from operations rose to Rs 140 crore, up from Rs 114 crore in FY23, as revealed in its financial statement obtained from the Registrar of Companies (RoC).

Understanding StayVista’s Business Model

StayVista excels in connecting property owners with holidaymakers looking for vacation rental options. The platform allows property owners to showcase their rentals while ensuring smooth bookings and secure online payments. The total income from these services constituted the company’s primary revenue stream.

The overall revenue for StayVista reached Rs 143.48 crore last year, with a minor portion attributed to other income sources.

Analysis of StayVista’s Expenses

On the expenditure front, the cost of materials—StayVista’s most significant expense—saw a rise of 17.7%, amounting to Rs 109.5 crore in FY24. Additionally, employee benefit expenses surged by 33%, reaching Rs 28 crore; however, legal and other operational costs remained relatively constant at Rs 3.5 crore and Rs 11 crore, respectively.

The total expenses for the company stood at Rs 152 crore for the fiscal year, representing an 18.8% increase from Rs 128 crore in FY23. For a comprehensive breakdown of expenses, refer to various sources.

StayVista’s Financial Improvements

Despite the increasing expenses, StayVista made strides in decreasing its losses by 33.3%, dropping to Rs 8 crore in FY24 from Rs 12 crore in the prior fiscal year. The company’s Return on Capital Employed (ROCE) and Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) margin were recorded at -28.81% and -5.31%, respectively.

On a unit basis, StayVista’s operational cost was Rs 1.09 to earn a single rupee in FY24.

As of March 2024, StayVista from Mumbai reported current assets worth Rs 50 crore, including Rs 39 crore in cash and bank balances.

Investment and Future Plans for StayVista

As per data from various sources in startup intelligence, StayVista has accumulated a total funding of $7.5 million so far, with DSG Consumer Partners as the primary investor, holding a 17% stake in the firm. Co-founders Amit Damani, Ankita Sheth, and Pranav Maheshwari collectively retain a 32.4% ownership in StayVista.

Based on media reports, StayVista has intentions to go public through an Initial Public Offering (IPO) by 2028. The company aims to raise Rs 600 crore (approximately $72 million) to further enhance its presence across India.