EkoStay Revenue FY26 Hits ₹40 Cr, Grows 43% Without Funding

Mumbai, April 2026: EkoStay has reported ₹40 crore in revenue for FY 2025–26, marking a 43% year-on-year increase, while maintaining EBITDA-positive operations with margins of approximately 10%. The company has scaled its villa portfolio across India without external funding, reflecting a growth model driven by internal accruals and operational discipline.

Revenue Growth with Stable Profitability

The company’s ₹40 crore revenue milestone highlights sustained growth alongside profitability, a combination that remains relatively uncommon among early-stage hospitality operators. EkoStay’s EBITDA margins of around 10% indicate a focus on cost control and operational efficiency, even as it expands its footprint.

The growth has been achieved without reliance on external capital or debt financing. Instead, the business has been built through reinvestment of earnings and measured scaling strategies, allowing the company to maintain full ownership and financial control.

Management attributed the performance to disciplined decision-making and a focus on unit-level economics, which has supported both revenue expansion and margin stability.

Portfolio Expands to 150+ Villas Across 12 Destinations

Beyond financial performance, EkoStay has scaled its operations to more than 150 professionally managed villas across over 12 leisure destinations in India. The portfolio expansion reflects increasing demand for private accommodation formats, particularly in leisure-driven markets.

The company reported an average occupancy of 56%, supported by a growing base of repeat customers. This occupancy level indicates steady utilisation across its properties, contributing to consistent revenue generation.

The expansion strategy has focused on destinations with established leisure demand, allowing the company to align supply with existing travel patterns rather than speculative growth. This approach has supported operational stability while enabling gradual scaling.

Repeat Customers Drive Demand Over Paid Acquisition

A significant portion of EkoStay’s growth has been driven by repeat bookings and organic referrals. The company has reduced its dependence on paid acquisition channels by focusing on guest satisfaction and consistency in service delivery.

According to the company, returning customers and word-of-mouth recommendations now contribute a large share of bookings, strengthening demand while lowering customer acquisition costs. This model has helped improve overall unit economics and support sustainable expansion.

The emphasis on repeat behaviour reflects a broader shift in the alternative accommodation segment, where guest experience and reliability are becoming key differentiators in a competitive market.

Bootstrapped Model Shapes Expansion Strategy

Founded by Husain Khatumdi, Sohail Mirchandani, Varun Arora, and Zishan Khan, EkoStay has operated as a fully bootstrapped business since inception. The company has scaled without raising external capital, relying instead on internal funding and controlled growth.

This approach has influenced the company’s operational framework, with a focus on efficiency, accountability, and sustainable scaling. Management noted that the absence of external funding has required careful allocation of resources and prioritisation of profitable growth over rapid expansion.

The model has also enabled the company to avoid equity dilution, maintaining ownership while building a revenue-driven growth trajectory.

Expansion Plans Target 220+ Properties by FY27

Looking ahead, EkoStay is targeting revenue of more than ₹52 crore in FY27, alongside plans to expand its portfolio to over 220 properties nationwide. The growth strategy will continue to focus on high-demand leisure markets, particularly in regions where villa stays are gaining popularity.

The company has reported strong traction in South India, including the Nilgiris region, where demand for private villas is increasing in line with evolving travel preferences. This regional growth is expected to play a key role in future expansion.

The planned scale-up reflects a continuation of the company’s existing strategy—expanding supply in markets with established demand while maintaining operational discipline and profitability.

EkoStay’s FY26 performance underscores the viability of a bootstrapped model in the hospitality sector, particularly within the growing alternative accommodation segment. The company’s focus on repeat demand, cost control, and measured expansion continues to shape its growth trajectory as it scales its national footprint.