Located in Gachibowli and Chanda Nagar in Hyderabad, the new Doowup stores will offer a range of home interior solutions
New Delhi: Home interior solutions company HomeLane has announced the launch of two new Doowup stores in Hyderabad.
Located in Gachibowli and Chanda Nagar in Hyderabad, the new stores will offer a range of home interior solutions.
“Hyderabad, with its fast-growing urban landscape, is an ideal location for Doowup’s expansion,” Subodh Jain, Vice President, HomeLane said.
These launches closely follow the opening of two stores one each in Jamshedpur and Kolkata last week.
The brand’s store in Jamshedpur spanning 700 sq. ft. was launched in partnership with BNR Homes. The Kolkata store of the same size was in partnership with LKG Homes.
In November, HomeLane announced turning cash-positive for September and October 2023.
The company said in a statement that it is now on track to not only sustain its cash-positive status but also grow 30% YoY in the financial year (FY) 2024.
“Achieving cash profitability gives us the independence to think long-term and take decisions accordingly. We are incredibly proud of our team’s relentless efforts and are thrilled to set our next milestone of reaching EBITDA profitability in FY24,” founders Srikanth Iyer and Tanuj Choudhry said.
The release added that HomeLane is set to surpass Rs 1000 crore in order book and aims for Rs700 crore in revenue in FY24. This growth ambition is driven by the company’s scale-up initiatives within existing markets, the release added.
Established in 2014, HomeLane is a tech-enabled home interiors brand that provides personalised end-to-end interior services. The company claimed to have gathered a customer base of 35,000, over the last nine years. As of November 2023, the company serviced 22 cities across the country through more than 50 experience centres.
