Eraaya Lifespaces reports revenue surge, operational loss after acquisitions

Eraaya Lifespaces Limited announced a consolidated revenue from operations of ₹14,805.21m for the financial year 2024-25, a significant increase from the previous year's standalone revenue of ₹12.65m. This growth was primarily attributed to the strategic acquisition of Ebix Inc. and its group entities, marking the first time consolidated financial statements were prepared. Despite the revenue surge, the company reported a consolidated net loss of ₹3,235.15m, driven by increased operational and integration-related expenses, and one-time exceptional costs.

On a standalone basis, revenue from operations grew to ₹213.85m. However, the standalone net loss was ₹258.65m, compared to a net profit of ₹3.39m in the prior year, due to higher input costs and expansion-related investments. The board has not recommended any dividend for FY 2024-25 to conserve resources for business expansion.

Key corporate actions during the year included a Qualified Institutions Placement (QIP) of 3,261,200 equity shares at ₹762 each, and the issuance of $120m in Foreign Currency Convertible Bonds (FCCBs). The company also completed a sub-division of its equity shares from ₹10 to ₹1 each. Management remains focused on enhancing operational efficiency and cost optimization for future profitability.