Mumbai-based luxury travel company Voyaah reported a 2.1x growth in revenue to Rs 17.07 crore in FY24, compared to Rs 8 crore in FY23.
Its operating revenue streams include commission sales, contributing over 12% to operating revenue in FY24; group booking sales, contributing over 28% to operating revenue in FY24; and tour package sales, contributing over 58% to operating revenue in FY24.
Founded in 2020, Voyaah has positioned itself as a key player in the travel tech industry, curating personalized luxury journeys with premium service partnerships. The company specializes in bespoke travel experiences, offering premium stays, private tours, and exclusive concierge services across top destinations such as Goa, Bali, Dubai, the Maldives, and Europe.
The company’s expenses increased by 75% to Rs 25.07 crore in FY24, compared to Rs 14.33 crore in FY23. Employee benefit costs accounted for 26.40% of total expenses in FY24, down from 48.63% in FY23. Cost of materials formed the largest portion at 54.32% in FY24, significantly rising from 28.82% in FY23. Depreciation remained stable at 3.58% of total expenses in FY24, compared to 3.55% in FY23.
Despite strong revenue growth, Voyaah reported a widened loss of Rs 8.07 crore in FY24, compared to Rs 6.33 crore in FY23. The company’s EBITDA margin improved to -41.61% in FY24 from -72.73% in FY23, reflecting better cost management. However, its ROCE declined to -162.07% in FY24 from -155.48% in FY23.
Voyaah has raised a total of Rs 10.89 crore across three funding rounds, with its latest seed funding secured on January 24, 2023. The company’s shareholding structure includes co-founder Sharmistha Chakraborty (32.89%), ESOP (17.66%), and Leposhe Trading (3.49%).
Voyaah continues to redefine the luxury travel segment with highly personalized experiences, leveraging its expertise and strategic partnerships to cater to high-net-worth travelers globally.