HomeLane, a leading home design brand, has forayed into two new markets, Kolkata and Pune. The company is planning to invest Rs 15 crore to boost business and branch into the new markets. It targets to deliver 1,000 homes in both cities in the next one year.
With this market expansion, HomeLane will be now 7 cities and 10 experience centres strong. It is already doubling its experience centers in the existing markets, strengthening its market presence.
HomeLane further eyes at adding 200 interior designers from the two cities. Close to 25,000 new units are likely to come up for possession in Kolkata and Pune this year.
Srikanth Iyer, Co-Founder and CEO, HomeLane, said, “The growing consumer demand for the quality living among urban Indians is what propelled us to consider Kolkata and Pune as potential markets. We have been noticing huge demand among the design conscious new homeowners in both Pune and Kolkata and we are expecting a huge volume of business coming from these two cities. We had closed FY 2018-19 with an ARR of 400 percent higher than last year and expect to double the numbers by the end of this year.”