Sunday, May 26

Droom Expects Rs 75 Cr Revenue in FY’17

Droom, an online marketplace for automobiles, expects to close this fiscal with a revenue of Rs 75 crore on the back of strong sales on its platform for both new and used cars.

Droom is expected to touch net annual revenues of Rs 60-75 crore by March 2017 with an annualised GMV in the range of INR 2,500-3,000 crore, Droom said in a statement.

Droom is eyeing net annual revenues of Rs 125-150 crore by December 2017, it added.

“The company is targeting annualised GMV of INR 4,500-5,000 crore and net annual revenues of Rs 125-150 crore by December 2017, as it ramps up its operations to firmly consolidate its position as the best brand in the Indian online automobile market space,” it said.

It added that orders placed through the platform grew from 8,232 units in 2015 to 49,974 units by the end of 2016.

“The transacted GMV on the platform also grew by 533 per cent, soaring from Rs 155 crore in 2015 to Rs 1,000 crore in 2016,” it said. The active seller base went up from 2,038 in 2015 to 15,619 in 2016.

“We aim to build upon this strong showing and continue driving massive growth for our platform through our value-driven, consumer-centric offerings,” Droom founder and CEO Sandeep Aggarwal said.