New Delhi: Gurugram-based social commerce platform CityMall reported a 25% year-on-year increase in operating revenue to ₹534 crore in the financial year ended March 2025 (FY25), up from ₹427 crore in FY24, according to its standalone financial filings with the Registrar of Companies (RoC).
Despite the scale-up in topline, the company’s losses remained broadly flat during the period, underscoring continued pressure on margins amid high procurement and operational costs.
Revenue Composition
Founded in 2019, CityMall operates a grocery-led e-commerce platform catering to Tier II and Tier III cities through a network of community resellers. The company has transitioned from a broader social commerce model to a grocery-focused strategy, with increasing emphasis on private label offerings.
Revenue from product sales accounted for nearly 96% of total operating income and grew 30% to ₹512 crore in FY25. The remaining income was derived from logistics and marketing services.
Within product sales:
- Staples such as atta, sugar, oil, and ghee contributed 39% of total sales at ₹210 crore.
- Branded food and beverages generated ₹85 crore.
- Home and personal care products added ₹58 crore.
- Other staples and miscellaneous items contributed ₹159 crore.
Additionally, CityMall reported ₹17 crore in interest income from deposits and investments, taking total income to ₹551 crore in FY25, compared with ₹460 crore in the previous fiscal.
Cost Structure and Margins
Procurement costs remained the largest expense head, accounting for 72% of total expenditure. These costs increased 31% year-on-year to ₹510 crore.
Employee benefit expenses declined 10% to ₹82 crore, including ₹16.5 crore in ESOP-related costs. Transportation expenses remained steady at ₹56 crore, while other overheads — including rent, cloud hosting, and provisions for obsolete inventory — amounted to ₹65 crore.
Overall expenses rose over 15% to ₹710 crore in FY25.
As a result, net loss stood at ₹159 crore, marginally higher than ₹156 crore in FY24. However, the company reported an improvement in EBITDA margin to -30.3%, even as Return on Capital Employed (ROCE) deteriorated to -57.46%.
On a unit economics basis, CityMall spent ₹1.33 to generate every ₹1 of operating revenue during the fiscal.
Balance Sheet and Funding
As of March 2025, CityMall reported total current assets of ₹368 crore, including ₹57 crore in cash and bank balances.
The Accel-backed startup has raised over $157 million in funding to date. Its latest $47 million Series D round, completed in September last year, was led by Accel with participation from Waterbridge Ventures, Elevation Capital, Norwest Capital, Citius, and General Catalyst.
