After foraying into UAE earlier this year, autotech and financial solution provider CarDekho Group may launch into some more cities in the middle-east, its CFO Neelesh Talathi told FE on Friday.
“We will see further expansion in the middle-east,” Talathi said, on the sidelines of the Startup Mahakumbh in New Delhi.
According to him, the company’s technology solutions work well in the region, and it offers them a larger total addressable market and better profit margins.
The group has also been active on acquisitions. In the last two years, it has taken over around six companies. They are currently in advanced talks with two more companies.
“It is a part of what we do,” Talathi said.
According to CarDekho’s regulatory filings, its net revenue grew by 54% to Rs 2,074 crore in FY24, as compared to Rs 1,347 crore in FY23.
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In FY25, Talathi said that the company would report a similar growth rate. In FY26, the growth rate is likely to be around around 35-40%, due to high base.
In FY24, the company reported a fall in its losses from Rs 562 crore to Rs 340 crore.
Talathi said that the company’s classified business would offer more profitability and the other businesses would help it improve the topline faster. The company also runs InsuranceDekho and lending platform rupyy.
Despite adopting AI in all parts of its business, the group would continue to add people to its 6,000-strong workforce.
“All of out businesses are in the growth phase,” he said.
The company expects the sales of cars in the country to recover by the second quarter of FY26.
CarDekho also has plans to launch its IPO, however, it did not give out a definite timeline.
“We are working towards that,” Talathi said.
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