OYO expects more than Rs 5,700 revenue in FY23, up by 19% from FY22

Hospitality and travel-tech firm OYO estimates its revenue in FY23 to be more than Rs 5,700 crore, up 19 per cent from Rs 4,780 crore it had recorded in FY22, according to its Founder & Group CEO Ritesh Agarwal.

At a town hall on Monday, Agarwal told employees of the firm that OYO is aspiring to reach adjusted EBITDA of nearly Rs 800 crore in the next financial year.

Sustained growth in India, Indonesia, the US and the UK and relevant optimisation as well as synergies in its European vacation homes business have led to better financials of the company, he said in a presentation at the gathering with employees.

In the presentation, Agarwal said OYO's revenue for FY2023 is expected to be over Rs 5,700 crore, up around 19 per cent from the Rs 4,780 crore achieved in FY2022.

Agarwal outlined that the key focus areas of OYO in the calendar year 2023 will be on Profit After Tax (PAT) along with consistent momentum in EBITDA; achieve cash flow positive in FY24; cost efficiency and ...