'Will be debt-free in 2-3 yrs & funding our own capex'

Furniture rental firm Furlenco, backed by mattress giant Sheela Foam with a 44.6% stake, posted its first-ever profit of ₹3.1 crore on revenues of ₹240 crore in FY25.

- · AJITH MOHAN KARIMPANA

Co-founder and CEO Ajith Mohan Karimpana tells Anees Hussain that the company is betting on a manufacturing first, premiumisation and distribution-led model.

Your rival Rentomojo has filed for an IPO. What is Furlenco's timeline?

We are in no rush. We would like to see three years of profitability. FY25 was our first year of profitability. In FY26, we expect to hit ₹340 crore in revenue, at 10% profit before tax. One more year of profitability, and then we will think of it. Our focus is on reaching 20% margins through expanding our in-house capacity for design, manufacturing, and refurbishing. This business is meant to be a high margin one when done correctly.

Furlenco was loss-making for years. What has changed?