6 January, 2016, Mumbai: Housing.com has hit the news once again and this time it is not because of their ex-CEO Rahul Yadav. As per its recent financial report, the company has suffered a loss of INR 279 Cr. The financial data suggests that the company has generated a total revenue of Rs 12.7 Cr in the fiscal year 2014-2015. It has generated Rs 5.5 Cr revenue from operations only.
The company has reported a jaw dropping loss of Rs 279 Cr which is exactly a six times more than that of previous year. However, it looks like a bumpy ride for most of the companies in the same segment. Common Floor, recently reported a loss of Rs 86 Cr for the fiscal year 2014-2015.
According to the financial experts, major chunk of Housing.com’s revenue was spent on marketing (almost 42 per cent), which was closely followed by HR expanse (almost 29 per cent). The company spent another 27 Cr on ‘Professional and Legal Charges’. These expanses have triggered a great loss to the company. The company is backed by some of the big investors such as SoftBank Capital, Nexus Venture Partners, Helion Venture Partners etc.