Companies losses rise to ₹403 cr in FY16

Priyanka Pani Mumbai | Updated on January 13, 2018

Online real estate firm, which was acquired by NewsCorp-backed PropTiger early this year, has seen a 45 per cent increase in its losses at ₹403 crore in FY16 compared to ₹279- crore loss in FY15.

Revenues grew to ₹26 crore during FY16 compared to ₹12 crore in the year ago period, according to the company’s filing with Registrar of Companies accessed on business research platform Tofler.

The filing has been done by Locon Solutions Pvt Ltd, the parent company of Housing. The company’s employee related costs have also increased to ₹178 crore in FY16 as against ₹80 crore in the previous fiscal.

The company, which saw its founder and CEO Rahul Yadav along with other co-founders quit the company following spat with its investor SoftBank, was acquired by Delhi-based PropTiger for about $70 million.

Published on March 10, 2017

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like