Fitness startup Cultfit’s parent Curefit Healthcare reported a 31% increase in operating revenue to Rs 1,216 crore in FY25, from Rs 927 crore in FY24.
The growth was driven by rising same store sales; expansion of its service business, which includes group classes, personal training, and gyms; as well as growth in the product business, which includes fitness equipment and accessories, according to the company.
For FY25, its Ebitda loss narrowed to Rs 36 crore from Rs 209 crore in FY24, while Ebitda margins for FY25 stood at -3% from -22% in FY24.
Founded in 2016 by Mukesh Bansal and Ankit Nagori, Cultfit provides fitness-related services through online and offline channels. These include offline group workouts at Cultfit centres and gyms, or equipment-based workouts at partner gyms and fitness centres across the country.
In April 2024, ET reported that Naresh Krishnaswamy had been appointed the company's chief executive, and Bansal had become the chairman.
"India's relationship with fitness is changing. We're seeing demand not just in metros but increasingly in smaller cities where access to quality fitness infrastructure has been limited," said Krishnaswamy in a statement.
“We have grown revenues by 30%+ in FY25. The momentum has continued in H1FY26, with around 40% increase in operating revenues, while the after-tax loss has further reduced by about 40%,” he added.
In January 2024, Cultfit laid off between 100-120 employees as part of a cost-cutting exercise. The Zomato and Tata Digital-backed fitness startup had plans to go for an IPO after its core gym business turned in an operating profit, ET reported in 2022.
So far, the firm has raised more than $650 million from investors like Accel, Temasek, Chiratae, and Kalaari Capital.
The growth was driven by rising same store sales; expansion of its service business, which includes group classes, personal training, and gyms; as well as growth in the product business, which includes fitness equipment and accessories, according to the company.
For FY25, its Ebitda loss narrowed to Rs 36 crore from Rs 209 crore in FY24, while Ebitda margins for FY25 stood at -3% from -22% in FY24.
Founded in 2016 by Mukesh Bansal and Ankit Nagori, Cultfit provides fitness-related services through online and offline channels. These include offline group workouts at Cultfit centres and gyms, or equipment-based workouts at partner gyms and fitness centres across the country.
In April 2024, ET reported that Naresh Krishnaswamy had been appointed the company's chief executive, and Bansal had become the chairman.
"India's relationship with fitness is changing. We're seeing demand not just in metros but increasingly in smaller cities where access to quality fitness infrastructure has been limited," said Krishnaswamy in a statement.
“We have grown revenues by 30%+ in FY25. The momentum has continued in H1FY26, with around 40% increase in operating revenues, while the after-tax loss has further reduced by about 40%,” he added.
In January 2024, Cultfit laid off between 100-120 employees as part of a cost-cutting exercise. The Zomato and Tata Digital-backed fitness startup had plans to go for an IPO after its core gym business turned in an operating profit, ET reported in 2022.
So far, the firm has raised more than $650 million from investors like Accel, Temasek, Chiratae, and Kalaari Capital.
