Realty Platform NoBroker Clocks Rs 411 Cr Loss In FY24, Expenses Rise

New Delhi: Real estate platform NoBroker has reported a net loss of Rs 411 crore in the financial year ending March 2024 (FY24), even as its total expenses climbed to Rs 1,299 crore -- a 9.2 per cent increase from the previous fiscal.

However, the company managed to reduce its losses by 19 per cent compared to the Rs 506 crore loss recorded in FY23, despite the rise in spending.

According to a report by Entrackr, citing its financials, a major chunk of these expenses -- Rs 738 crore, or 57 per cent of the total -- was classified under ‘miscellaneous overheads,’ with the company providing limited details about this category.

Meanwhile, employee benefit expenses remained flat at Rs 436 crore and accounted for 33 per cent of total spending. Other costs such as rent and legal charges were brought down to Rs 7 crore and Rs 12 crore respectively, while depreciation saw a slight increase to Rs 31 crore.