By Mr. Abhay Ray 
Introduction
Hospitality giant OYO has made an impressive comeback, reporting a net profit of ₹623 crore in the financial year 2024–25. With this, OYO has emerged as India’s most profitable startup, a rare feat in the current startup ecosystem. Founder and CEO Ritesh Agarwal shared the news with employees, highlighting the company’s strategic turnaround and operational efficiency.
- 27% Growth in EBITDA
In FY25, OYO recorded an EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) of ₹1,132 crore, up from ₹889 crore in FY24. This marks a 27% year-on-year increase, showcasing the company’s robust financial health and streamlined operations. The consistent growth in EBITDA reflects OYO’s ability to manage costs while expanding its footprint and offerings.
- EPS Jumps 158%
Another highlight from the fiscal report is the sharp rise in Earnings Per Share (EPS). In FY24, OYO’s EPS stood at ₹0.36, which jumped to ₹0.93 in FY25—an impressive 158% increase. This growth signals a direct benefit to shareholders and indicates the company’s improving profitability per share.
- Booking and Revenue Surge
OYO also witnessed significant growth in Gross Booking Value (GBV), which rose by 54% to ₹16,436 crore in FY25. The company’s revenue increased by 20% year-on-year, reaching ₹6,463 crore. These figures demonstrate increasing demand for OYO’s offerings, particularly through digital platforms and global operations.
Q4 Performance – A Strong Finish
The fourth quarter of FY25 was particularly strong for OYO. During this period, the company reported a 126% year-on-year increase in GBV, reaching ₹6,379 crore. Revenue for the quarter stood at ₹1,872 crore, up 41% compared to the same period last year. This performance underscores OYO’s momentum going into the next fiscal year.
Global Expansion and Premium Offerings
Over the past 12 months, OYO has significantly expanded its global footprint. The company launched over 30 premium “Sundae” hotels across India, Saudi Arabia, UAE, and Southeast Asia. This move is part of OYO’s effort to cater to the premium segment and enhance its brand value in high-end hospitality markets.
Today, OYO operates approximately 22,700 hotels and 1,19,900 homes globally, reaffirming its position as a major global hospitality player. This expansion not only strengthens its presence across key markets but also diversifies its revenue streams.
IPO Uncertainty
Despite strong financial performance, OYO’s long-awaited Initial Public Offering (IPO) remains uncertain. The company had initially planned to list in October 2025, but according to a recent Bloomberg report, those plans have been put on hold.
The delay is primarily due to objections from its largest early investor, SoftBank, which holds a 40% stake in the company. Sources suggest that SoftBank has advised OYO to defer the IPO until earnings improve further. On the other hand, founder Ritesh Agarwal holds 30% equity, positioning him with substantial influence over strategic decisions.
The Road Ahead
OYO’s latest financial results clearly indicate a strategic and financial turnaround. From increasing profitability and revenue to expanding its global presence and launching premium offerings, the company is gearing up for sustained long-term growth.
While the IPO delay might raise eyebrows among market watchers, OYO’s strong fundamentals suggest that the company will be well-positioned whenever it chooses to go public. The profitability milestone also helps rebuild investor confidence, especially amid a global funding winter that has impacted startups across sectors.
OYO’s success story serves as a reminder that Indian startups can achieve profitability at scale if backed by clear vision, adaptive strategy, and disciplined execution. As the company navigates its next phase—balancing global expansion with financial sustainability—it continues to redefine hospitality for the digital era.
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