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New Delhi, sep 7 (PTI) Home interiors aggregation HomeLane on Monday said it is planning to absorb Rs 100 crore for business initiatives as it looks to aggrandize its operational cast to over 25 cities by 2021-end.

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HomeLane, which aloft Rs 60 crore afresh from Stride Ventures and others, has additionally apparent a new cast character as allotment of its all-embracing action to beacon its business into the abutting appearance of growth.

The new cast character gives HomeLane a bluff cast persona aimed at creating greater relatability with its home-buying customers, a account said.

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'HomeLane's rebranding action coincides with the company's affairs to scale-up its operations through the franchisee and retail administration archetypal for a added attendance beyond India. The franchisee and retail administration archetypal will acquiesce HomeLane to calmly scale-up operations from the accepted 10 cities to added than bifold its operational footprint, accoutrement over 25 markets by end of the agenda year 2021,' it added.

This will accredit HomeLane a abundant bigger assimilation into a area that is primarily bedeviled by unorganised players, it said.

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'Our rebranding efforts are aimed at authoritative HomeLane relatable to the home-buying customers, as we ambition to scale-up our attendance beyond the 25 top markets...' Srikanth Iyer, Founder and CEO of HomeLane, said.

As allotment of the accepted rebranding exercise, the aggregation has envisaged business spends of Rs 100 crore over the abutting one year, it noted.

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Established in 2014, HomeLane had recorded Rs 230.4 crore operating revenues for the year concluded March 31, 2020, registering a advance of 130 per cent over its revenues of Rs 99.95 crore during the antecedent fiscal. It is currently operational in Bengaluru, Chennai, Hyderabad, Mumbai, NCR, Kolkata, Pune, Coimbatore, Vizag and Mysore.

Iyer said the new cities for amplification are actuality called on the base of new homes advancing up in that area and cardinal of searches for keywords like home adornment or modular kitchens.

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The aggregation would attending at cities like Indore, Jaipur and Chandigarh. PTI SR BAL BAL



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