WoodenStreet, a Jaipur-based omnichannel custom furniture platform, has shown robust growth, with sales increasing by over 50% year-on-year in recent years. Despite this rapid expansion, the company has maintained profitability for the past four years.

According to its annual financial statements filed with the Registrar of Companies, WoodenStreet's revenue from operations surged by 48.1% to Rs 194 crore in FY23, up from Rs 131 crore in FY22. Founded in 2015, WoodenStreet offers a wide range of home solutions, including solid-wood and modular furniture, kitchen and wardrobe products, home decor, lighting, and furnishings.

Operating with over 90 stores, the company caters to more than thirty thousand furnishing products. WoodenStreet primarily generates revenue from the sale of furniture, furnishing, and decor items. Additionally, it earned Rs 3.54 crore from interest on deposits and investments, bringing its total revenue to Rs 198 crore for the fiscal year ending March 2023. Procurement costs for furniture, furnishing, and decor items represented 62.7% of WoodenStreet's overall expenditure.

These costs increased by 46.4% to Rs 123 crore in FY23, reflecting the company's growth. WoodenStreet's total expenditure rose by 50.8% to Rs 196 crore in FY23, up from Rs 130 crore in FY22. This increase was driven by expenses related to employee benefits, rent, advertising and promotion, bank charges, electricity, legal fees, and other overheads. This information was originally covered by Entrackr.